Parliamentary Finance: The 2020 budget includes the exchange of the last payment of Kuwait's debts

[yota691]

24-07-2019 09:56 PM

Parliamentary Finance: Budget deficit of 2020 up to 70 trillion

 

 

Baghdad: 
A member of the parliamentary finance Abdulhadi Mohan, on Wednesday, a deficit in the budget next year 2020 up to 70 trillion according to the census conducted by the Ministry of Finance and informed his committee, and expressed surprise at what included in the preparation of the budget law. 
Mohan said in a statement that the Ministry of Finance told his committee that the budget next year will witness a large deficit and this deficit represents a very imaginary figure, pointing to the current government spending will increase the federal deficit to balance 2020, revealing at the same time of spending for many sections of the budget without reference to Law. 
Mohan added that the deficit in the budget because of spending leads to the transfer of funds from the investment budget to operational, which adversely affects the projects that the government should be implemented to serve the citizens.

[screwball]

70,000,000,000 nit bad...

[Adam Montana]

Can anyone imagine if the US budget was only 70,000,000 off?

[6ly410]

Voice .. With a deficit of 72 trillion dinars in the budget 2020 .. Iraq is coming on the year of Ajafa

19:19 - 27/07/2019

https://www.almaalomah.com/2019/07/27/420237/

Information / Special ...

The parliamentary Finance Committee revealed on Saturday that there is a large deficit in the budget of 2020 up to 72 trillion dinars effective, after a year described prosperity, his deficit was 27 trillion speculative compared to what he expects next year.

A member of the Finance Committee Abdul Hadi Saadawi told / information / that "the proportion of deficit in the budget this year amounted to 27 trillion dinars and a conceptual deficit."

[zul]

8 hours ago, 6ly410 said:

there is a large deficit in the budget of 2020 up to 72 trillion dinars 

 

Wow!! That is even bigger than Kuwait's 2019/20 revenue...😎

 

(Kuwait: Revenues in 2019-2020’s budget were estimated at $53 billion and the expenditure at $74 billion.)

 

[6ly410]

The parliamentary budget: 2020 budget will not pass without a full agreement between Baghdad and Erbil

10:08 - 28/07/2019

https://www.almaalomah.com/2019/07/28/420291/

Information / Baghdad ..

The parliamentary legal committee on Sunday stipulated the conclusion of a full agreement between Baghdad and Erbil to pass the general budget law for the next year 2020, while confirming that the governments of the center and the region reached results through the ongoing discussions.

"The negotiations between the center and the region are conducted intensively through the committees that were formed to follow up the file of oil dues between the center and the region," said member of the Committee Salim Shoshki said in a statement informed by the information that "the committees formed after the visit of the President of the Kurdistan Regional Government to Baghdad is Important messages and signals indicate that the center and the region are determined and will to resolve the outstanding problems between them on oil receivables. "

Shoshaki added that "solving these problems needs time, and deserve to give an opportunity to reach a result on them," noting that "the territorial government has concluded some contracts with international companies for a long time, and the withdrawal of these companies have implications and implications, and the two governments to Taking responsibility for these repercussions and need to pause seriously to find effective solutions to these problems. "

He added that "the governments of the center and the region reached results through discussions that the regional government to deliver the agreed amount of oil to the Baghdad government, but the mechanism and how and the technical and tactical side need sufficient time," stressing that "both parties agreed on one principle is understanding In the framework of the Iraqi constitution and not to declare the media until the talks reach real results, perhaps this news or statements will give a negative role on the agreement between the parties regarding the oil dues.

Shoshki pointed out that "the 2020 budget will not be voted on and will not be discussed until after a full agreement between Baghdad and Erbil on the oil file," pointing out "the good intentions of both parties in addition to the determination of the Kurdish will to resolve outstanding problems between Baghdad and Erbil." Ending / 25

 

[6ly410]

18 minutes ago, 6ly410 said:

the 2020 budget will not be voted on and will not be discussed until after a full agreement between Baghdad and Erbil on the oil file,"

 

[6ly410]

The parliamentary budget: 2020 budget will not pass without a full agreement between Baghdad and Erbil

10:08 - 28/07/2019

https://www.almaalomah.com/2019/07/28/420291/

Information / Baghdad ..

The parliamentary legal committee on Sunday stipulated the conclusion of a full agreement between Baghdad and Erbil to pass the general budget law for the next year 2020, while confirming that the governments of the center and the region reached results through the ongoing discussions.

"The negotiations between the center and the region are conducted intensively through the committees that were formed to follow up the file of oil dues between the center and the region," said member of the Committee Salim Shoshki said in a statement informed by the information that "the committees formed after the visit of the President of the Kurdistan Regional Government to Baghdad is Important messages and signals indicate that the center and the region are determined and will to resolve the outstanding problems between them on oil receivables. "

Shoshaki added that "solving these problems needs time, and deserve to give an opportunity to reach a result on them," noting that "the territorial government has concluded some contracts with international companies for a long time, and the withdrawal of these companies have implications and implications, and the two governments to Taking responsibility for these repercussions and need to pause seriously to find effective solutions to these problems. "

He added that "the governments of the center and the region reached results through discussions that the regional government to deliver the agreed amount of oil to the Baghdad government, but the mechanism and how and the technical and tactical side need sufficient time," stressing that "both parties agreed on one principle is understanding In the framework of the Iraqi constitution and not to declare the media until the talks reach real results, perhaps this news or statements will give a negative role on the agreement between the parties regarding the oil dues.

Shoshki pointed out that "the 2020 budget will not be voted on and will not be discussed until after a full agreement between Baghdad and Erbil on the oil file," pointing out "the good intentions of both parties in addition to the determination of the Kurdish will to resolve outstanding problems between Baghdad and Erbil." Ending / 25

[FXStockpiling]

So if I print my own money have two bank accounts for bills and one has more than enough and the other can have a deficit till I decide to transfer from one to the other then what's to stop me from saying instead of making that transfer I'll just make my monopoly money worth more than my bills? But before I do I'll let everyone run around and panic and maybe then they will vote on the HCL or they can stay broke thinking of a way to borrow money from Trump LOL right!

[yota691]

Finance: Changing our way from traditional budget to projects and prompt performance

Economy | 02:27 - 28/07/2019

 

 

 

BAGHDAD - 
The Prime Minister for Economic Affairs and Finance Minister Fuad Hussein announced on Sunday the change of the way the Ministry of Finance from the traditional budget to budget projects and performance directed.
"It is a pleasure to be with you in the workshop," Hussein said during his participation in the program budget workshop organized by the US Agency for International Development in cooperation with the United Nations Development Program in Iraq and the advisers of the Prime Minister. "This is an important task which comes, as I see it, as a step to strengthen the approach we started in Iraq several months ago in coordination with the Iraqi ministries and governorates." He pointed out that "the traditional budget" has been adopted, Not directed by Each strategic, designed to focus on reducing costs more than achieving tangible results, and many of the limitations and shortcomings which I am sure you fully aware of them. "
"We have changed our approach from the" traditional budget "to the" balanced projects and performance directive "will not be easy, and this approach is new to us, and so far we do not have the individual and institutional capabilities necessary to formulate a real" budget projects and performance "contribute to the guidance of our resources To the real need for them with a clear vision on how to translate the budgeted costs into concrete results. "

[6ly410]

Iraq to discuss with the United Nations support to turn the budget into a "balance of programs and performance"

Political 05:59 - 28/07/2019

https://www.mawazin.net/Details.aspx?jimare=57653

Baghdad - Mawazine News
Finance Minister Fuad Hussein discussed Sunday with the United Nations the relationship between the government of Baghdad and the Kurdistan region and technical support for the budget next year to turn it into a "balance of programs and performance."
"The latter visited the United Nations headquarters in Iraq and met Genin Hennes, the UN Special Representative of the United Nations in Iraq, and held an extensive meeting with Hines and the organization's advanced cadre," the statement said.
He added that "the meeting discussed the general political situation in the region and Iraq in particular and recent developments in the relations between Baghdad and Erbil to resolve outstanding issues and issues through a series of meetings and meetings at a high level in order to resolve all outstanding problems. United Nations in Iraq through the development and strengthening of the capacities of employees in government institutions and programs of stability and reconstruction, especially liberated areas.
The statement referred to "discussing technical support in the formulation of the state budget to convert it to budget programs and performance and raise the efficiency of workers in the management of public funds."

 

Edited July 28, 2019 by 6ly410

[6ly410]

Parliamentary Planning: The 2020 budget prevents the government from going to external borrowing

Articles 28/07/2019 07:30 PM | 

http://alahadnews.net/index.php/permalink/169757.html

Al-Ahed News - Baghdad

The parliamentary planning committee confirmed on Sunday that it would stand against any government directive to go towards external borrowing to fill the deficit of the 2020 budget. The budget deficit, estimated at 72 trillion Iraqi dinars, is unrealistic and unrealistic.

"The House of Representatives will continue to vote on a paragraph within the draft federal budget law for 2020 not to allow the government to go to foreign borrowing to meet the expected financial deficit," said member of the Committee Mohammed Karim, "The House of Representatives will continue to vote, Mainly in the high proportion of fiscal deficit in the budget being operational and not investment, as well as the benefits of them.

He added that "budget deficit of 2020, estimated at 72 trillion Iraqi dinars through the parliamentary financial committee is not only genuine and default," noting that "the House of Representatives is directed towards reducing the deficit by obliging the government to prepare an investment budget."

He pointed out that "the government will resort to internal borrowing from government banks in the event of a large fiscal deficit to curb the rise of external debt of Iraq."

The parliamentary Finance Committee revealed on Saturday that there is a large deficit in the budget of 2020 up to 72 trillion dinars effective, after a year described prosperity, his deficit was 27 trillion speculative compared to what awaits him next year.

[6ly410]

 

2019/07/28 20:25

Deputy described by Ajajp .. Budget 2020 .. Actual deficit worth 72 trillion dinars

http://almasalah.com/ar/news/175591/نائب-يصفها-بالعجفاء-موازنة-2020-عجز-فعلي-بقيمة-72-ترليون-دينار

 

-----------------------------------

BAGHDAD - The parliamentary finance committee revealed on Saturday that there is a large deficit in the budget of 2020 up to 72 trillion dinars actual, after a year characterized by prosperity deficit was 27 trillion speculative compared to what is expected next year.

A member of the Finance Committee Abdul Hadi Saadawi, the deficit rate in this year's budget amounted to 27 trillion dinars and a conceptual deficit.

He added that the indicators and according to the reports of the Ministry of Finance to the Committee deficit in the budget of 2020 more than 72 trillion dinars and actual deficit, noting that the deficit in the budget next year exceeds 60% of the budget.

He pointed out that the deficit rate for the current year represents a year of prosperity compared to what Iraq expects next year, noting that the high ratio will harm the budget 2020 and paralyze the movement of the state.

He attributed the high rate of deficit to the wrong fiscal policy followed by Finance Minister Fouad Hussein and the government in general, pointing out that there is money disbursement by the financial without financial planning and without reference to the calculation of imports of the state.

[Butifldrm]

 

2019/07/28 20:25

• Number of readings 2205
• Section: Iraq
•  
•  

Deputy described by Ajajp .. Budget 2020 .. Actual deficit worth 72 trillion dinars

 

BAGHDAD - The parliamentary finance committee revealed on Saturday that there is a large deficit in the budget of 2020 up to 72 trillion dinars actual, after a year characterized by prosperity deficit was 27 trillion speculative compared to what is expected next year.

A member of the Finance Committee Abdul Hadi Saadawi, the deficit rate in this year's budget amounted to 27 trillion dinars and a conceptual deficit.

He added that the indicators and according to the reports of the Ministry of Finance to the Committee deficit in the budget of 2020 more than 72 trillion dinars and actual deficit, noting that the deficit in the budget next year exceeds 60% of the budget.

He pointed out that the deficit rate for the current year represents a year of prosperity compared to what Iraq expects next year, noting that the high ratio will harm the budget 2020 and paralyze the movement of the state.

He attributed the high rate of deficit to the wrong fiscal policy followed by Finance Minister Fouad Hussein and the government in general, pointing out that there is money disbursement by the financial without financial planning and without reference to the calculation of imports of the state.

Follow the obelisk 

 

http://almasalah.com/ar/news/175591/نائب-يصفها-بالعجفاء-موازنة-2020-عجز-فعلي-بقيمة-72-ترليون-دينار

[DWS112]

Reports of the next budget indicate the escalation of the deficit to 72 trillion dinars  2019/07/29

 

 

 Baghdad / Mohammed Sabah

Initial reports prepared by the Ministry of Finance to prepare the Federal Budget Law (Program and Performance Budget) for the year 2020 were a major shock to Adel Abdul Mahdi's government when it produced a very high deficit ratio.

 

The Finance Committee in the House of Representatives, the budget being prepared by government agencies, "it is the worst in history and represents a setback in the economic reality."

 

It also held meetings and meetings with the Ministry of Finance and Oil and the Central Bank to study several options to get out of this impasse, while ideas were raised about selling a number of state properties, dealing with the security services in the security services, increasing or lowering the dinar exchange rate.

 

The Ministry of Finance partially abandoned the regulations of the items adopted in the preparation of the federal budget in the Iraqi state over the past years and adopted the system of "balance programs and performance." 

 

A source familiar with the "Reports that have reached indicate an increase in the federal budget deficit for 2020 to 72 trillion dinars."

 

The source, who declined to be identified, said: "The reasons for the increase in the budget deficit next year are due to the addition of (30) thousand elements to the popular mobilization and the issue of fixing contracts, daily wages in all ministries and the return of the separation of the security services."

 

It shows that "this addition contains salaries and allocations contributed to the increase in the operating budget in an abnormal manner, as well as the movements carried out by the House of Representatives on the budget of 2019, which affected some ministries .. The latter insisted on compensation in the budget next year.

 

The source pointed out that "a delegation from the government and the Ministry of Finance discussed with the Central Bank to reduce this deficit through the resort to several options, including activating the collection and increase taxes and address the space in the security services, and employees of self-financing companies, and increase or decrease the dollar exchange rate to serve the federal budget, As well as the possibility of selling some state properties. "

 

"The government is also studying a range of ideas, such as transforming some of the government sectors into private ones, as well as addressing the problems of border crossings."

 

The Finance Committee in the House of Representatives has formed a mini-committee to follow up the implementation of the strategy of the federal budget law, composed of each of the deputies Adnan al-Zerafi, Faisal Al-Issawi, Jamal Couger who began the participation of the Ministry of Finance draft budget law for 2020.

 

A member of the Finance Committee in the House of Representatives Abdul Hadi al-Saadawi said in a statement (range) that "the federal budget for 2020 is being prepared by government agencies will be the worst in the history of Iraq," adding that the initial reports talk about "a significant increase in the expected deficit up To 72 trillion dinars. "

 

"This is the first time in the budgets of Iraq, where a major setback in the proportions of deficit," noting that "this decline caused by the current government, which followed a financial policy will not take into account planning or knowledge in the disbursement of funds."

 

The total deficit of the federal budget for 2019, voted by the House of Representatives in January last (27.5) trillion dinars (23 billion dollars), while estimated revenues (106 trillion dinars) (88.5 billion dollars), and expenditures (133 trillion dinars) ($ 111.5 billion).

 

The MP believes that a coalition of law that "things are going to worse .. The government may declare its inability to provide all the necessary services in the budget in 2020," pointing out that "a lot of money spent by the current government as allocations and privileges of some ministries without recourse To the State Treasury. "

 

The Ministry of Finance announced in a statement last month that "the date of lifting the draft federal budget law for 2020 to the Council of Ministers will be in September next," noting that "focused on the foundations and directives, which reflect the priorities necessary ministries and institutions and provinces in the preparation of the budget."

 

The Finance Committee in the House of Representatives, after the adoption of the budget law of 2019 deliberately conceal the detailed budgets of most of its ministries and sub-departments. She said parliament voted on the draft budget bill without having access to the tables of expenses that the government refrained from providing to parliament.

 

In contrast, a deputy in the parliament, saying that "the features of the budget next year is not yet clear." He revealed "the application of a system or method in the preparation of the new budget law."

 

The MP, who preferred not to be identified in a statement to (the extent) that "the new system or method followed in the preparation of the federal budget law for next year (budget programs and performance) is based on the allocation of funds for ministerial projects and programs that require the final disclosure of the productivity of these projects Programs and funds allocated to them. " 

 

The MP pointed out that "the balance of programs and performance requires the improvement and development of the performance of state employees because they are not accustomed to the work of this new budget that will change the form and content," stressing that "this shift in these systems will reduce the scourge of corruption and manipulation of public money.

 

The system for the preparation of the articles' budget law pays primary attention to the establishment of expenditure and revenue estimates in the schedules for regulating the disbursement process, and is divided into more detailed paragraphs such as contracts, commodities, goods, services, maintenance and purchase of furniture.

 

The MP adds that "balancing the items gives the Minister the freedom to dispose of public money through the tabs in the budget as the purchase of furniture, and the innovations and maintenance that can not be the concerned authorities to verify the mechanism of disbursement of these funds."

 

He added that "the funds in the new budget will be specific and allocated and the minister is charged with giving results on these funds and disbursements," explaining that "balancing items contain a lot of details and branches."

 

He pointed out that "these projects that will be allocated funds will be the minister is obliged to provide a full vision for implementation after the end of each budget," noting that "the implementation of the new budget will be on the Ministries of Education and Health as a first stage and then come the other ministries successively.

 

Increasing the dinar exchange rate sounds good to me! - DWS112

 

Edited July 30, 2019 by DWS112

[Jaygo]

Word!!

[yota691]

30-07-2019 11:44 AM

Deputy: deficit in the budget of 2020 will be 72 trillion dinars

 

 

Baghdad

The deputy of the State of Law Abdul Hadi Mohan, on Tuesday, that the budget deficit in 2020 to 72 trillion Iraqi dinars.

Mohan told "news" that "the deficit in the budget of 2020 will be 72 trillion dinars," noting that "the Kurdistan region is acting with oil money without returning to Baghdad."

He explained that "Maliki will reject the prime minister even if presented as an alternative," noting that "the dismissal of the failed ministers is normal and more than the ministers did not achieve any achievement."

 

[6ly410]

Parliamentary power: Iraq has a financial abundance to fill the budget deficit

11:57 - 30/07/2019

https://www.almaalomah.com/2019/07/30/420762/

Information / Baghdad ..

A member of the Committee on oil and energy parliamentary Sadiq al-Sulaiti, Tuesday, high oil prices in the coming months, stressing that Iraq has a financial abundance to fill the deficit in the budget.

Al-Sulaiti said in a statement to Al-Mawloma that " Iraq over the past six months has achieved a financial abundance by a decision of the price of oil fixed in the federal budget for 2019."

He added that "the financial abundance will reduce the fiscal deficit in the balance of the budget, which amounts to 26 trillion," noting that "the financial abundance will cover all investment projects as well as the payment of salaries of employees fully without the need to borrow external or internal." Ending / 25 h

Edited July 30, 2019 by 6ly410

[6ly410]

Economist for the "Covenant News": The government to draw the budget 2020 as an investment budget

 31/07/2019 08:45 AM |

http://alahadnews.net/index.php/permalink/170149.html

Al-Ahed News - Baghdad

Economic expert Saleh al-Hamashi stressed on the need to be Iraq's budget for 2020, an investment budget, not budget balancing "items" or a classic budget.

"The government should be aware that the budget is one of the public spending doors to move the market and the Iraqi economy, so it has to increase its spending in the 2020 budget, especially in the presence of financial abundance," Al-Hamashi told The New Testament on Wednesday.

He explained that "the budget this year reduced the deficit through the oil price difference, so the government to draw a budget in which public spending will move the projects, but if the government dictates the budget in the manner of items and classical way, it can not move the economy rigid and can not absorb Labor or unemployment, especially with the presence of 400 thousand workers annually enter the Iraqi market. "

[6ly410]

 

 

2019/08/01 16:38

Parliamentary Finance: Budget 2020 taught at the Ministry of Finance

 

 

http://almasalah.com/ar/news/175886/المالية-النيابية-موازنة-2020-تدرس-في-وزارة-المالية

 

BAGHDAD (AP) - A member of the Finance Committee of the Parliament Ahmed Al-Saffar on Thursday (August 1st, 2019) unveiled measures to be taken for the first time in the state budget in preparation for next year's budget.

"The budget for next year 2020 is considered in the Ministry of Finance, and for the first time discussed with the government through three deputies of the Finance Committee prohibit the meetings of the ministry," said Ahmed al-Saffar.

Al-Saffar added that "the Committee is about to change the budget in terms of form and content, from balancing traditional items to the budget of programs and performance, and focus on the use of money best and away from the projects lagging and waste," likely "the arrival of the draft budget to parliament" during the legal period, after The ministry began studying it early. "

Regarding the fiscal deficit of the budget, a member of the Finance Committee in Parliament, that "the deficit is premature and the deficit remains listed, even if it is large, a deficit planned and may not happen in reality."

Edited August 2, 2019 by 6ly410

[6ly410]

Abadi: Draft 2020 budget is dangerous and destructive

Release date: 2019/8/1 23:23 • 975 times read

http://alforatnews.com/modules/news/article.php?storyid=205744

(Baghdad: Al-Furat News) The head of the coalition of victory Haider Abadi, the draft government for the draft federal budget budget for 2020, "it is a serious and destructive draft."

"In our time, we have cut back on unnecessary government spending, and because of the rise in oil prices for several years, from 2010 to 2014, government spending has become enormous," Abbadi said in an interview. "We have cut this unnecessary spending over the past four years. The rest of the money for the reconstruction of the country and services and job creation, but we see that the government is expanding spending again seriously, and the draft budget for 2020 is a serious draft, in which a large deficit and unacceptable spending as a destruction of everything we have done in the past.
He added that "the question of security because it inherited an excellent and good security, and assumed from the beginning of its work to complete the previous work is to rebuild the security forces and be under the leadership of the State absolutely and there is no weapon outside the state, and we note that there is a decline in this file and there is no progress, That's a big mistake. "
Al-Abbadi stressed that "the interests of Iraq first, we are dealing with neighboring countries, but we must not respond to all what they ask us, we have to cooperate with neighboring countries, and understanding with them for the common interest, across the common space between us, we noticed at first that the government opened the ports wide , And affected the local industry and agriculture, and there is a complaint that the opening of markets and ports without control will harm the local industry and agriculture, and this is a provision for the benefit of others in the interest of Iraq. "

[yota691]

Abadi: 2020 budget is serious .. The government offers the interests of other countries

 Slider  02/08/2019  86

 

Baghdad 

President of the coalition of victory Haidar Abadi, a serious expansion of government spending in the draft government to draft the budget bill 2020, pointing out that the government's behavior in opening the ports without supervision to provide for the interests of other countries.

"The government spending was huge between 2010-2014 because of the rise in oil prices, but we have cut this unnecessary spending, which is important for the development of the country in terms of reconstruction and services and job creation," Abbadi said in an interview.

"The current government is spending dangerously on the 2020 budget," he said. "There is a big shortage and uncontrolled spending like a destruction of the context we have done."

He pointed out that "the current government has inherited a stable security, and assumed from the beginning of its work to complete the process of rebuilding the security forces, and that these forces belong to the leadership of the state absolutely and there is no weapon outside the state, and we note that there is a decline in this file, .

On the trade agreements, Abbadi pointed out that "the current government has opened the gates wide, and affected the industry and agriculture, and there are complaints that the opening of markets and ports without control will harm the local industry and agriculture, and this is to serve the interests of others in the interest of Iraq."

"We must deal with neighboring countries, but we must not respond to everything they ask us," stressed Abadi, stressing "the need for the government to cooperate with neighboring countries, and agree with them according to common interests."

And the 2020 budget is witnessing strong objections from many of the political blocs, including these objections are the share of Kurdistan and the oil agreement between Baghdad and the region.

It is noteworthy that the victory coalition has held the government full responsibility for what he described as "legal breach" of the federal budget law regarding the failure of the authorities of the Kurdistan region to pay oil imports to the federal authorities.

The member of the Finance Committee in the House of Representatives Abdul Hadi al-Saadawi described the 2020 budget as "the worst in the history of Iraq," because of the deficit that will exceed 70 trillion dinars, while the government may declare its inability to provide the necessary services.

[zul]

On 7/31/2019 at 11:06 PM, 6ly410 said:

but if the government dictates the budget in the manner of items and classical way, it can not move the economy rigid and can not absorb Labor or unemployment, especially with the presence of 400 thousand workers annually enter the Iraqi market. "

 

72 trillion (+/-70 billion dollar) deficits might sound scary to some but if the spending is on creation of wealth (budget based on performance and investment), Iraq should give it a go. 

 

Many are still looking at Iraq's 'new budget' from the traditional/conventional perspective....(a budget based on limitations and reducing cost) but if Iraq wants to achieve greater height, they have to set their budget on achieving their target.

 

It is the spending and saving, creation of jobs, and innovation of the private sector that determines wealth. 

 

As for us, dinar holders, we definitely want Iraq to go for quantum leap in their economy for them to be brave enough or daring enough to price their currency back to its former glory.

 

Go Iraq!!

Edited August 2, 2019 by zul
.

[yota691]

Economist: Iraq is subject to international sanctions and fines budget 2020

20:13 - 03/08/2019

 

  

Information / Special ...

The economic expert Osama Kazem said on Saturday that Iraq will be subject to international sanctions and fines by 2020 to raise the deficit and inability to pay for international criticism, indicating that he will be subject to the terms of international criticism to avoid sanctions.

" Iraq is obliged annually to pay money to the International Monetary Fund for the loans it had previously paid, " Kazim told al-Maaloumah .

He added that "the high proportion of the deficit in the budget 2020 will affect the rates of payment next year," noting that "the inability to pay Iraq will be subjected to sanctions and fines by the International Monetary Fund and the World Banks and have significant benefits."

He explained that "the Iraqi government will seek to avoid these fines and the availability of funds to comply with the conditions of the International Monetary Fund," noting that "among these conditions raise fuel prices and reduce salaries and impose taxes and financial matters many provide funds in the budget to pay to the IMF and global banks."

He added that "these measures will be reflected on the citizen directly and affect the economic situation."

The parliamentary Finance Committee revealed last Saturday, the existence of a large deficit in the budget of 2020 up to 72 trillion dinars effective, after a year.

[yota691]

Seems this has to do with the changing of the amounts of SDR Special Drawing Rights and move into Article 8...GM DV