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

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3 minutes ago, horsesoldier said:

 

Yep, Agreed KL . . . kinda sorta has that appearance huh . . .this whole mess is layered lie an Onion . . . the BIGGEST GOSH DAMN ONION EVER ! ! !  

 

Ain't this boogie a mess ? This thing ( at times ) appears so unsolvable & intractable with these nit wits, it makes the Gordian Knot look simple. Situations shift faster than the desert sands.

 

I'm beginning to appreciate the complexities of Iraqi politics compounded by tribes, religious sects, and the need to serve two masters (US and Iran). And it's all underpinned by self-interest and the instinct to save one's own skin. Concerning the latter, Mahdi these MP's know Iran is going down, so no one knows which of their statements and positions to take seriously. 

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I believe the last payment to Kuwait included in the 2020 budget is crucial to let

the dinar go international.... IMF Art 8 acceptance.

jmho.

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49 minutes ago, Laid Back said:

I believe the last payment to Kuwait included in the 2020 budget is crucial to let

the dinar go international.... IMF Art 8 acceptance.

jmho.

 

When is that payment due? 

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2 hours ago, Laid Back said:

I believe the last payment to Kuwait included in the 2020 budget is crucial to let

the dinar go international.... IMF Art 8 acceptance.

jmho.

Let’s hope 

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14-01-2020 11:56 AM

A deputy reveals the reasons for the increase in the amounts allocated to salaries in the 2020 budget

image.php?token=b7dc4b04c433b7937116c8a2ad538628&c=2150679&size=
 


 

Baghdad / news

Member of Parliament, Muhammad Shi'a Al-Sudani, revealed that the recent decisions to return the abolished contracts from the army, police, and the popular crowd and appoint graduates contributed to the high percentage of the amounts allocated to salaries to 14 trillion dinars.

Al-Sudani said in a statement, "Al-Ikhbaria" received a copy of it, "The percentage of spending in the budget did not exceed 70% due to the delay in approving the projects as a result of the demonstrations that took place in Baghdad and the provinces, which stopped many projects and caused permanent disruption in some state institutions." His hope is that "the investment budget contributes to providing services to citizens and creates job opportunities that reduce unemployment."

He explained that "the price of oil was set in the budget at $ 56 a barrel," warning of "the impact of tensions in the region, especially the escalation between the United States of America and Iran, on world oil prices."

He added that "the general budget for the year 2020 was delayed to be sent to parliament due to political circumstances and the resignation of the government, as well as recent financial developments and economic challenges, although the government in its last sessions approved the budget and referred it to the governmental committee," noting that "the House of Representatives is awaiting the formation of the new government to review Budget and send it to him and that, according to the usual contexts, spending remains at a rate of 1 to 12 until the general budget is approved. "

And on the oil agreement between Baghdad and Erbil, Al-Sudani stressed that "there is an agreement between the federal government and the Kurdistan Regional Government and is supposed to be included in the budget to be discussed in the House of Representatives," pointing out that "Parliament has many reservations about Kurdistan's failure to comply with the agreements concluded previously."

http://www.ikhnews.com/index.php?page=article&id=207041

 

 

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Al-Sudani explains the reasons for the increase in the amounts allocated for salaries in the 2020 budget

  
 http://economy-news.net/content.php?id=18783
Economy News _ Baghdad

Member of the House of Representatives, Engineer Muhammed Shia'a Al-Sudani, clarified, on Tuesday, that the recent decisions to return the abolished contracts from the army, police, and the popular crowd and appoint graduates contributed to the high percentage of the amounts allocated to salaries to 14 trillion dinars.
The Sudanese said in a statement seen by "Al-Iqtisad News", that "the rate of exchange in the budget did not exceed 70% due to the delay in approving projects as a result of the demonstrations that took place in Baghdad and the provinces, which stopped many projects and caused permanent disruption in some state institutions." On his hope that the investment budget contributes to providing services to citizens and creates job opportunities that reduce unemployment. "
He added that "the price of oil was set in the budget at $ 56 a barrel," warning "of the impact of tensions in the region, especially the escalation between the United States of America and Iran on global oil prices."
Al-Sudani said, “The general budget for the year 2020 was delayed to be sent to Parliament due to political conditions and the resignation of the government, as well as recent financial developments and economic challenges, although the government in its last sessions approved the budget and referred it to the governmental committee,” noting that “the parliament is waiting to form a government.” New to review the budget and send it to him, and that according to the usual contexts, spending remains at 1 to 12 until the general budget is approved. "
And on the oil agreement between Baghdad and Erbil, Al-Sudani stressed that "there is an agreement between the federal government and the Kurdistan Regional Government and it is supposed to be included in the budget to be discussed in the House of Representatives," pointing out that "Parliament has many reservations about Kurdistan's failure to comply with the agreements concluded previously."

 

Number of views 135 Date added: 14/01/2020

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8 hours ago, climber7 said:

 

When is that payment due? 

I don’t know but the balance owed to Kuwait will be included in the 2020 Budget.

I think the UN, WB and IMF will be very happy with this.

7 hours ago, screwball said:

Let’s hope 

Let’s hope 🙏🏼

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5 hours ago, Laid Back said:

the balance owed to Kuwait will be included in the 2020 Budget.

 

Thanks for your input LB

 

I'm not doubting you but am simply curious what info you got that convinces you of this? 

 

Thanks in advance 

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Deputy: The budget law will arrive in the coming hours in parliament

12:07 - 18/01/2020
 
  
%D9%86%D8%B5%D9%8A%D9%81-696x435.jpg

Information / Baghdad .. The
deputy revealed a coalition of state law high Nassif, on Saturday, the government's intention to send a draft financial budget law to parliament during the coming hours, indicating that the government approved the draft before submitting its resignation.
Nassif said in a statement to the "information" that "the budget law stipulates that the government cannot send the budget or any law in the event it turns into a caretaker, but the budget law was approved two days before the resignation was submitted."
She added, "The law will be sent based on that book to Parliament in the coming hours, provided that it will be dealt with according to public interests and make some amendments."
Nassif explained that "this year's budget is characterized by its non-reliance on foreign loans and its reliance on the Chinese agreement in the field of construction, in addition to the government seeking to conclude similar agreements with large countries to end the file of foreign loans and not pay huge benefits with foreign loans." Finished / 25 d

https://www.almaalomah.com/2020/01/18/450269/

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38 minutes ago, Butifldrm said:

budget law was approved two days before the resignation was submitted

 

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133106.jpg?width=750&&height=375

 
01/19/2020 10:17
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  • Section: Iraq
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Parliament: The caretaker government does not have the authority to approve the budget

Baghdad / Obelisk: A legal formula was revealed, on Sunday, January 19, 2020, the current government authorizes the transmission of the current year 2020 budget at a time when the Parliamentary Finance Committee confirmed that the current caretaker government does not have the authority to do so, and that the state will operate according to a 1/12 mechanism in the current budget Until a fully-fledged government is formed.

The decision of the Finance Committee, Ahmed Al-Saffar, confirmed in a press statement, that "the draft budget is still in the hands of the government, and it has not been sent to the House of Representatives, because the government does not have the authority to send it." And the Budget Authority of the Ministry of Finance, in which it notifies that the Council is going to the legislative holiday. "

He explained, "All parliamentary movements regarding the passage of the budget are illegal," noting that "the Financial Management Law indicates that the laws must be sent from an authentic government and not the government of everyday matters that do not have the authority to send laws."

He added, “According to the Financial Management Law, the state will work with a budget 1/12 of the budget law for the previous year 2019, and it means that work will be carried out according to everything that was spent in 2019 month after month, and the operating spending includes only salaries, wages and daily obligations, except for the budget Investment. "

Al-Saffar pointed out that "working with this form of the Financial Management Law will stop the work of projects. Therefore, the House of Representatives made an amendment to a legal article in the Financial Management Law to allow the transfer, launch and continuation of the amounts allocated to projects in the 2019 budget, and the aim of which is to continue projects and not to freeze public funds, and to Unemployment and poverty do not increase, so the House of Representatives voted to amend the aforementioned article and allow the continuation of the projects allocated in the 2019 budget only. "

The decision of the Finance Committee suggested that "through the communication of the committee with the budget committee in the Ministry of Finance, we have seen a draft budget in 2020 that included a deficit of 48 trillion dinars, while the deficit in the 2019 budget had reached 27 trillion dinars."

He pointed out that "the size of the deficit in the budget of 2020 is exaggerated, and the reasons for it were the package of reforms launched by the government to respond to the demands of the demonstrators and return the separated and open new job grades, in addition to the strengthening of the budget, the strengthening of the budget."

They pointed out that "the size of the salaries that were paid in the budget of 2019 reached 38 trillion, while in the budget in 2020, it reached 52 trillion dinars, with a difference of only 14 trillion in salaries," indicating that this is not from the "This is the reason" The Council of Ministers goes to the House of Representatives, because the government does not want to bear the huge budget deficit, and therefore it hesitated to send it.

Al-Saffar explained, "The Iraqi-Chinese agreement was sent despite our entry in 2020 and it does not reach the level of the agreement, which must be with the approval of the Council of Representatives, for that agreement is closer to a memorandum of understanding that is supposed to be included in the 2020 budget, but if it is a memorandum of understanding or agreement Within the 2019 budget, it does not need the approval of the House of Representatives, but if it entered the 2020 budget, then it certainly needs the approval of Parliament by approving the draft budget and making it a binding law. "

 

Follow the obelisk

http://almasalah.com/ar/news/186327/اللجنة-النيابية-حكومة-تصريف-الاعمال-لا-تمتلك-صلاحية-اقرار-الموازنة

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Parliamentary investment: the 2020 budget will be operational after the agreement with China

19:23 - 01/19/2020
0
 
  
484301Image1-696x438.jpg

Information / private ...
The Parliamentary Investment and Economy Committee confirmed on Sunday that the federal budget bill for 2020 will be operational after the economic agreement with the Chinese side.
Committee member Nada Shaker said in a statement to "Information", that "the 2020 budget will be operational after referring all service and investment projects to the Chinese agreement," noting that "the agreement with China will contribute to solving all service crises from infrastructure and residential complexes."
She added that "the economic agreement with China is a positive gesture for building cities and salvation from the housing crisis and lack of services," noting that "referring projects to the Chinese agreement will reduce the deficit rate in the expected federal budget by more than 40 trillion dinars."
The deputy from the Alliance of Fath, Fadel Al-Fatlawi, had confirmed, today, Sunday, that the government approved the sale price of a barrel of oil at $ 50 within the federal budget bill for 2020, pointing out that the budget deficit does not exceed 30 trillion Iraqi dinars. T 25 is over

https://www.almaalomah.com/2020/01/19/450627/

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 A legal formula was revealed, on Sunday, January 19, 2020, the current governmentauthorizes the transmission of the current year 2020 budget at a time when the Parliamentary Finance Committee confirmed that the current caretaker government does not have the authority to do so, and that the state will operate according to a 1/12 mechanism in the current budget Until a fully-fledged government isformed.

 

Looks like for the time being, Maliki and the rest of the pro-Iranian mob have what they've been working towards. . . Until a fully-fledged government is formed.

 

Now we wait to see how long they can drag this out; before they're forced to do the inevitable good thing for the people and the country.

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Baghdad Post Monday, January 20, 2020 03:22 PM

 

Al-Tamimi reveals the true reason for the government's failure to send the draft federal budget

Magda-Al-Tamimi -1

 
 

 


Committee member Magda Al-Tamimi revealed the true reason for the government's failure to send the draft federal budget.

 Al-Tamimi said in a press statement that the failure to send the budget to Parliament has nothing to do with the issue of conducting business because that designation was not explicitly referred to in the constitution, but rather a word used in the internal system of the Council of Ministers.

She added that the real reason for not sending the draft is the size of its deficit, which reached 48 trillion dinars in an attempt to get rid and throw the ball into the stadium of the new government .
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Deputy: Parliament did not succeed in finding a legal formula to receive the 2020 budget

19:55 - 23/01/2020
0
 
  
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Information / private ...

On Thursday, the MP for Al-Hikma Movement, Asaad Al-Morshedy, affirmed that the parliament had not succeeded in finding a legal formula that would allow the caretaker government to send the federal budget bill for 2020 to the parliament.

Al-Murshidi said in a statement to “Information”, that “the government of resigned Prime Minister Adel Abdul Mahdi completed the federal budget bill for 2020, but it did not send it because it was diverted to conduct daily business.” He pointed out that “the House of Representatives tried to find a legal formula to receive the budget except He did not succeed in that. ”

He added that "the political blocs are moving at the moment to resolve the position of prime minister for the purpose of ridding the country of the current crisis and creating an authentic government with full powers," noting that "the new legislative chapter will allocate its first sessions to vote on the new government according to the political agreement and the passage of the federal budget for 2020."

The deputy of the Al-Fateh Alliance Fadel Al-Fatlawi confirmed, earlier, that the government approved the sale price of a barrel of oil at $ 50 within the federal budget bill for 2020, according to Oil Minister Thamer Al-Ghadban, pointing out that the fiscal deficit in the budget does not exceed 30 trillion Iraqi dinars. T 25 is over

https://www.almaalomah.com/2020/01/23/451553/

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On 1/14/2020 at 2:47 AM, climber7 said:

 

When is that payment due? 

That payment was due years ago. However, they were given a waiver on it around the time of the 2016 SBA, or a little bit before. One of the agreements Iraq made in the SBA was to settle arrears which included the payment to Kuwait. Until the GOI election fiasco, I was under the understanding this is one of the benchmarks to the RI by the IMF into the world market then the RV by Iraq. 

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A deputy warns against a repeat of the 2014 scenario with the 2020 budget

11:12 - 01/29/2020
0
 
  
%D8%B1%D9%88%D8%A7%D8%AA%D8%A88-696x435.

The information / Baghdad ..

The deputy of the Alliance of Raiders Riyad Al-Masoudi affirmed on Wednesday that the parliament and the government do not want to make the same mistake that the previous government made in 2014 when it went towards not approving the budget, warning against repeating the 2014 scenario of losing money without closing accounts.

Al-Masoudi said in a statement to "Information", that "the budget will pass in any way despite the large financial deficit", noting that "the lack of approval of the 2014 budget as well as the lack of final accounts confused the work of the legislative and executive authorities."

He added that "the greatest risk that Iraq will be exposed to  when it goes towards an estimated budget and not an actual one in which spending will take place without legislation by the House of Representatives."

Al-Masoudi pointed out that, "given the vacancy of the post of prime minister after his resignation was accepted by the House of Representatives, renewed fears among the House of Representatives of the repetition of the events of 2014 in relation to the non-approval of the budget." Ended / 25h

https://www.almaalomah.com/2020/01/29/452666/

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%D8%A7%D9%85%D9%88%D8%A7%D9%84-%D8%A7%D9

Abdul-Mahdi Advisor: Insurance of the salaries of employees and retirees in the year 2020

 
6b3e7fa574f7a7f34bb3561f75a37296?s=26&r= Author: AhadNA1 On 01/29/2020 - 10:39 AM 4

Al-Ahed News - Iraq
The financial advisor to Prime Minister Mazhar Muhammad Salih reassured the employees and retirees, confirming that their salaries were fully secured, while he revealed moves to create what is called "financial sustainability".

Saleh said in a press statement, followed by Al-Ahd News, “We assure the employees and retirees of securing the salaries for the current fiscal year 2020, and there is no prejudice to them, especially as the cash flow of the budget is reassuring.”

Saleh declared, “Movements and understandings between the House of Representatives and the cabinet to provide a workable budget, that meets its social and economic goals, and work is continuing to be prepared by the Ministry of Finance concerned, even though the caretaker government cannot pass laws.”

He stated that “the budget for the current year 2020 needs to be re-engineered towards reducing expenditures, reducing deficits, maximizing some resources and creating what is called (financial sustainability), that is, the budget has the ability to spend, and this requires time to prepare it correctly.”

The consultant attributed the delay in approving the budget for the current year to "the conditions that the country has experienced recently and the occurrence of many changes, including spending obligations and government decisions, and decisions of the House of Representatives, according to the authorities of the concerned authorities, which have formed additional financial obligations on the budget, including what has happened in the past, if not forever Therefore, the cabinet reviewed it after discussing it with the Ministry of Finance to review some of the spending decisions, and to study some of the revenues in a way that makes them sustainable.

Saleh expected, "The maturity of the budget during the coming weeks, especially that there is consultation, understanding and exchange of ideas and opinions by the concerned authorities, in an attempt to take measures in a manner that makes the budget sustainable, and enhance the resources as much as possible, and the availability of space, and the availability of space, and the availability of space,"

Edited by 6ly410

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On 1/23/2020 at 6:26 PM, Theseus said:

That payment was due years ago. However, they were given a waiver on it around the time of the 2016 SBA, or a little bit before. One of the agreements Iraq made in the SBA was to settle arrears which included the payment to Kuwait. Until the GOI election fiasco, I was under the understanding this is one of the benchmarks to the RI by the IMF into the world market then the RV by Iraq. 

Thanks for your input Theseus,

I was under the understanding this is one of the benchmarks to the RI by the IMF into the world market then the RV by Iraq“

That was my first thought when I read the article.

 

 

 

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6 minutes ago, Laid Back said:

Thanks for your input Theseus,

I was under the understanding this is one of the benchmarks to the RI by the IMF into the world market then the RV by Iraq“

That was my first thought when I read the article.

 

 

 

This should be informative for you:

APRIL 20, 2018 / 10:43 AM / 2 YEARS AGO

Iraq resumes payments of Gulf War reparations to Kuwait

 

GENEVA/BAGHDAD (Reuters) - Iraq resumed paying Kuwait compensation on Friday for the destruction of Kuwaiti oil fields and facilities during the 1990-91 Gulf War, the United Nations said in Geneva in a prepared statement.

 

The payment had been suspended since October 2014 because of security and budgetary problems the Iraqi government in its fight against Islamic State.

 

“The United Nations Compensation Commission (UNCC) today made available $90 million to the Government of the State of Kuwait,” the U.N said. “With today’s payment, the Commission has paid out $47.9 billion, leaving approximately $4.5 billion remaining to be paid to the only outstanding claim.”

 

The sum owed, as well as the $90 million payment, goes towards an overall claim of $14.7 billion in damages by the Kuwait Petroleum Corporation , the largest approved by the Geneva-based commission, set up by the U.N. Security Council in 1991. Payouts are made quarterly as funds become available.

 

 

NOVEMBER 21, 2017 / 11:40 AM / 2 YEARS AGO

Iraq to resume payments of Gulf War reparations to Kuwait: U.N.

 
 

1 MIN READ

  •  
  •  
 

GENEVA (Reuters) - The United Nations said on Tuesday it had accepted a proposal from Iraq to pay 0.5 percent of its 2018 oil proceeds toward compensation for $4.6 billion owed to Kuwait for destruction of its oil facilities during the 1990-91 Gulf War occupation.

Payments from the fund, which were suspended since October 2014 due to security and budgetary challenges faced by Iraq, will escalate annually until the end of 2021, the U.N. Compensation Commission (UNCC) said in a statement, adding that Kuwait had accepted the proposal.

“Based on oil price and export projections, this would result in payment in full of the outstanding claim award,” it said, referring to the claim by the Kuwait Petroleum Corporation, the largest approved by the Geneva-based UNCC.

 

Edited by Theseus

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8 minutes ago, Theseus said:

This should be informative for you:

APRIL 20, 2018 / 10:43 AM / 2 YEARS AGO

Iraq resumes payments of Gulf War reparations to Kuwait

 

GENEVA/BAGHDAD (Reuters) - Iraq resumed paying Kuwait compensation on Friday for the destruction of Kuwaiti oil fields and facilities during the 1990-91 Gulf War, the United Nations said in Geneva in a prepared statement.

 

The payment had been suspended since October 2014 because of security and budgetary problems the Iraqi government in its fight against Islamic State.

 

“The United Nations Compensation Commission (UNCC) today made available $90 million to the Government of the State of Kuwait,” the U.N said. “With today’s payment, the Commission has paid out $47.9 billion, leaving approximately $4.5 billion remaining to be paid to the only outstanding claim.”

 

The sum owed, as well as the $90 million payment, goes towards an overall claim of $14.7 billion in damages by the Kuwait Petroleum Corporation , the largest approved by the Geneva-based commission, set up by the U.N. Security Council in 1991. Payouts are made quarterly as funds become available.

 

 

NOVEMBER 21, 2017 / 11:40 AM / 2 YEARS AGO

Iraq to resume payments of Gulf War reparations to Kuwait: U.N.

 
 

1 MIN READ

  •  
  •  
 

GENEVA (Reuters) - The United Nations said on Tuesday it had accepted a proposal from Iraq to pay 0.5 percent of its 2018 oil proceeds toward compensation for $4.6 billion owed to Kuwait for destruction of its oil facilities during the 1990-91 Gulf War occupation.

Payments from the fund, which were suspended since October 2014 due to security and budgetary challenges faced by Iraq, will escalate annually until the end of 2021, the U.N. Compensation Commission (UNCC) said in a statement, adding that Kuwait had accepted the proposal.

“Based on oil price and export projections, this would result in payment in full of the outstanding claim award,” it said, referring to the claim by the Kuwait Petroleum Corporation, the largest approved by the Geneva-based UNCC.

 

Thanks Theseus, 🙏🏼

Very informative articles.

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