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

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Parliamentary Finance: The volume of external debt of Iraq amounted to 125 billion dollars

Political | 11:35 - 23/09/2019

 

 

 

 

BAGHDAD - Mawazine News
revealed the Finance Committee in the House of Representatives, on Monday, the size of the external debt of Iraq, warning of a threat to the future of Iraq.
Committee member Ahmed Mazhar al-Jubouri said that the committee had previously suspended debts, especially foreign affairs, in the 2019 budget, at a time when there is an obligation to continue the debt as it existed during the war on ISIS gangs in the provinces of Nineveh, Anbar and Salah al-Din.
He explained that "debt, especially foreign amounted to 125 billion dollars," indicating that "its survival portends a threat to the economic future of Iraq."
He hinted that "the presence of 20 paragraphs of debt will be in the budget 2020, after the Committee held with the Ministry of Finance five meetings during the past month, as part of these debts were loans imposed on Iraq by the World Bank," pointing out that "

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2019/09/23 12:19

• The number of readings 66
• Section: Iraq
•  

Deputy: Iraq's external debt of $ 125 billion and its survival is a threat to the economic future

BAGHDAD, Sept 22 (KUNA) - Iraq's foreign debt has exceeded $ 125 billion, a member of the parliamentary finance committee said on Monday.

Al-Jubouri said in a press statement followed by obelisk, `` The Committee has already suspended debts, especially foreign in the budget of 2019, at a time when there is an obligation to continue the debt as it existed during the war on ISIS gangs in the provinces of Nineveh, Anbar and Salah al-Din. ''

He explained, "The debt, especially foreign, amounted to 125 billion dollars," noting that "its survival portends a threat to the economic future of Iraq."

Jubouri hinted that "the presence of 20 paragraphs of debt will be in the budget 2020, after the Committee held with the Ministry of Finance five meetings during the past month, as part of these debts were loans imposed on Iraq by the World Bank."

He pointed out that "the search continues for solutions to fill the budget deficit next year."

http://almasalah.com/ar/news/178977/نائب-الديون-الخارجية-للعراق-125-مليار-دولار-وبقاؤها-خطر-على-المستقبل-الاقتصادي

 

 

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The arrival of a delegation from Kurdistan to discuss the 2020 budget in Baghdad

81 views

23/09/2019

Baghdad - direction

A delegation from the Kurdistan Regional Government (KRG), headed by the Minister of Social Affairs, arrived in Baghdad on Monday.

Upon his arrival, the minister met the government delegation with the Minister of Labor and Social Affairs Bassem Abdel Zaman to discuss the organization of bilateral work with regard to international conferences in addition to cooperation in the field of assistance to eligible groups in society.

The delegation will discuss with the issue of the budget of the Kurdistan Ministry of Labor in the financial budget for next year.

ba

[yota691]

A delegation from Kurdistan arrives in Baghdad

Monday 23 September 2019 :

11:22 am

60 

A delegation from the Kurdistan Regional Government, headed by the Minister of Social Affairs, arrived Monday in the capital Baghdad.

Upon his arrival, the minister met the government delegation with the Minister of Labor and Social Affairs Bassem Abdel Zaman to discuss the organization of bilateral work with regard to international conferences in addition to cooperation in the field of assistance to eligible groups in society.

The delegation will discuss with the issue of the budget of the Kurdistan Ministry of Labor in the financial budget for next year.

[yota691]

Parliamentary demands to allocate 4 trillion dinars to solve the housing crisis

Monday, September 23, 2019 59

 

Baghdad / Muhannad Abdul Wahab and Shaima Rashid

 

 

The Committee for Strategic Planning and follow-up implementation of the government program to increase allocations for resolving the housing crisis to 4 trillion dinars in the budget law next year.

Meanwhile, the parliamentary finance that the passage of the region's share in the budget depends on reaching an agreement between the Center and the region on oil exports to Kurdistan, while a delegation from the federal government to visit Erbil to discuss the draft law.

A member of the Strategic Planning Committee and the follow-up of the implementation of the government program Mohammed Shia Sudanese to "morning", "The Committee is working to proceed with the measures taken to resolve the housing crisis and add financial allocations for the crisis in the 2020 budget," noting that "the housing project needs a package of laws, including With regard to the Services Committee, the most important thing that will be presented for the second reading is to address 

Random housing. ” 

The committee called for increasing the size of the housing fund to one trillion dinars, especially that these funds go directly to the citizen and create an atmosphere of work and movement to build and reduce unemployment. The committee also called for increasing the allocations of infrastructure needed by the new residential areas, which must be serviced. 

Sudani said that "the committee called on the government in the budget to allocate the amount of one trillion dinars to the real estate bank to help investors to the first steps to invest on the other hand, a member of the Finance Committee Hanin Kaddou told" morning "that" the passage of the region's share in the 2020 budget depends on the agreements that occur Between the federal government and the region, and if no agreement is reached, the budget of the region will be a real problem but will not pass the same terms of the 2019 budget.

Kaddou said that "all deputies of parliament and even a section of Kurdish deputies refuse to be the budget of 2020 similar to the budget of 2019 and the same specifications and items with regard to oil, customs and border outlets." 

He pointed out that "the 2020 budget will be a border either there will be an agreement to hand over all the region's oil to the federal government and SOMO, the situation may change, or on the border ports and customs, despite the assurances that all border ports should be in the hands of the federal government, but customs still Regional Government. In another context, a delegation from the federal government headed by the Minister of Labor Bassem Abdul Zaman, on Monday, to the city of Arbil to discuss the issue of the budget of the Kurdistan Ministry of Labor in the financial budget for next year.

A statement of the Ministry of Labor received a "morning, a copy of it that" immediately upon the arrival of the Minister held a meeting with the Minister of Social Affairs in the region to discuss the organization of bilateral work in relation to international conferences in addition to cooperation in the field of assistance to eligible groups 

In the community". He added that "the delegation will discuss the question of the budget of the Kurdistan Ministry of Labor in the financial budget for next year."

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Deputy: 2020 budget will deduct the oil money that did not deliver to Erbil

19:24 - 23/09/2019

 

  

Information / Special…

Fath Jaber MP, Fath Jaber, revealed on Monday, the existence of a paragraph within the draft federal budget law for 2020 includes the deduction of oil receivables that the Kurdistan region disengages from providing them to the center according to the agreement.

Jaber said in a statement to the information, that "the 2020 budget included a paragraph to deduct oil funds for 250 thousand barrels, which the government of Arbil refrained from delivering it to the 2019 budget of the Baghdad government," pointing out that "those funds will be deducted from the share of the region in the 2020 budget."

He added that "the share of the region in the 2020 budget will be reduced below 12% because of the obligation to pay oil money," noting that "the provincial government is moving at the moment to persuade Baghdad not to reduce the share of Kurdistan." Finished 25 T.

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2019/09/25 13:00

• The number of readings 77
• Section: Iraq
•  

Parliamentary movement to cancel the share of Kurdistan in the 2020 budget

Baghdad / Obelisk: Member of the Parliamentary Finance Committee, Abdul Hadi Saadawi, on Wednesday, September 25, 2019 on the existence of a parliamentary approach to cancel the share of the Kurdistan region of the draft federal budget law for 2020.

Saadawi said in an interview with local media, "The Kurdistan Regional Government did not adhere to all the agreements signed between Baghdad and Erbil, and there are approximately $ 105 billion owed to the federal government."

He added, "Kurdistan has not paid the amounts of oil and non-oil receivables, as well as smuggling oil through the port of Ceyhan and other ports," stressing that "the region has not sent any money since 2004 to Baghdad and there is no control of Baghdad funds for the region."

The deputy of the stream of wisdom, Salem Tahmir Tufayli, said Thursday, 05 September 2019, that the House of Representatives will not approve the 2020 budget as long as figures are inaccurate and transparency is lacking on the exports of the Kurdistan region oil.

Follow the obelisk 

http://almasalah.com/ar/news/179132/حراك-نيابي-لإلغاء-حصة-كردستان-في-موازنة-2020

 

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Parliamentary economics reveals a tendency to end total dependence on oil during 2020

 September 25, 2019 - 9:42

 

  

BAGHDAD: The Committee on Economy and Investment, on Wednesday, the orientation of the competent parliamentary committees to adopt a new strategy to end the total dependence on oil during the 2020 budget. Dependence on oil and diversification of the country's income sources to end the risk of falling world oil prices. Tamimi added, "The adoption of laws supporting the national product in parliament will have a great economic return and provides very good job opportunities for all unemployed and contributes to the loss of money and hard currency in the import of consumer goods." Al-Tamimi stressed the importance of seeking new revenues for the public budget away from oil dependence, including borders and tourism. The government should also look for large investment companies through coordination with the parliament to draw its strength from it.

https://sumer.news/ar/news/41964/الاقتصادية-النيابية-تكشف-عن-توجه-لإنهاء-الاعتماد-الكلي-على-النفط-خلال-2020

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A delegation from the Parliament of the region discusses in Baghdad the 2020 budget

Release date:: 2019/26 12:57 • 112 times read

BAGHDAD: A delegation from the Kurdistan Parliament, on Thursday, to the capital Baghdad, to discuss several issues, including the share of the region of the financial budget law for 2020.

The delegation held its first meeting with the Finance Committee in the House of Representatives and was attended by the head of the Kurdistan Regional Representation in Baghdad, to discuss the draft budget law 2020 and the share of the region after the controversy raised in this regard recently, amid intensified efforts to reach an agreement between Erbil and Baghdad.
The deputy speaker of the Kurdistan Parliament, Haimen Hawrami, said yesterday that he would head a parliamentary delegation to go to Baghdad on Thursday at the invitation of the Rafidain Center for Research.
He explained in a press conference that the delegation's visit comes to participate in the seminars held by the Rafidain Forum, noting that he will provide clarifications on the situation of the region and the status of the Kurdistan region.
The President of the Kurdistan Regional Government, Masroor Barzani, yesterday during a meeting with US Assistant Secretary of the Treasury for counterterrorism financing Marshall Billingsley that "our negotiations with Baghdad are moving at a good pace, and are on the right track," stressing "to submit proposals to resolve outstanding differences based on the Constitution."

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Committees of the Finance Committee 

The Finance Committee receives a delegation from the Kurdistan Parliament

 26/09/2019

Received the Finance Committee headed by MP d. Haitham al-Jubouri and the presence of its members on Thursday, 26/9/2019 delegation of the Parliament of the Kurdistan Region.

 

At the outset of the meeting held at the headquarters of the Finance Committee, Mr. Chairman and members of the Committee welcomed the delegation, which holds an invitation addressed to the Committee for the purpose of visiting the provinces of the region like the rest of the Iraqi provinces.

 

The two sides discussed a number of important points, especially with regard to the need to deliver oil to the marketing company "SOMO" as well as other non-oil revenues, and the need to subject all border outlets to the sovereignty of the federal government in addition to subjecting the accounts of the region under the supervision of the Federal Financial Supervision Bureau.

The Finance Committee also stressed the need to urge the federal and provincial governments and bring their views closer to resolve all outstanding issues, including the issue of telecommunications companies and the speedy adoption of the oil and gas law because of its importance to the benefit of all the Iraqi people.

 

The Finance Committee clarified that it sets the principle of equality and justice as a basis and priority in the distribution of rights and duties between the people of the same country and the constant pursuit of the adoption of laws to preserve public money.

 

Parliament

Information Service

26/09/2019

http://ar.parliament.iq/2019/09/26/اللجنة-المالية-تستقبل-وفدا-من-برلمان-ا/

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2019/09/26 02:51:12 PM 64

Parliamentary Energy and Wealth Committee of the Kurdistan Parliament discuss oil exports and the budget

 

Baghdad / Al-Ghad Press:

The Committee on Oil and Parliamentary Energy, on Thursday, with a delegation from the Committee of Natural Resources in the Parliament of the Kurdistan Region, the oil exports of the region and the general budget for 2020.

 

 

"We visited today the delegation of the Natural Resources Committee in the region's parliament, headed by the chairman of the committee, and discussed the region's oil exports and Baghdad's vision on the subject," committee chairman Hippet Halbousi told a press conference.

He added that "was the vision of the region to end this file and also the 2020 budget and the dialogue was positive and we were invited to go to the region and see the exports from the region and Ntosm good of those meetings."

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26-09-2019 02:38 PM

Oil and parliamentary energy reveal details of its meeting with its counterpart in the Kurdistan Parliament

 

 

Baghdad / News  

The Chairman of the Committee on Oil and Parliamentary Energy, MP Hibet Halbousi, details of the meeting of the Committee with the Committee on oil and parliamentary energy in the Kurdistan region and the most prominent points agreed upon.  

Al- Halbousi told the "Tigris" that "the oil and energy committee was hosted in the Parliament of the Kurdistan Region and we discussed the most outstanding differences between the two sides."  

He explained by saying, "We reached an agreement that the delivery of 250 thousand barrels of oil from the region to the center in exchange for the application of material balances in 2019 at all points as we informed the delegation."  

"Unless the differences are resolved, we will not proceed with the 2020 budget," he said.  

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Kurdistan Region’s oil revenue under scrutiny from Baghdad

http://www.nrttv.com/En/News.aspx?id=15397&MapID=2

 

Kirkuk oil fields (NRT Digital Media)

3 Hours ago

 

SULAIMANI — The Kurdistan Region’s conduct with regard to oil sales has come under scrutiny from Baghdad as budget negotiations for 2020 begin to take shape.

Under the terms of the 2019 Federal Budget Law, Baghdad is supposed to send 12.67 percent of the total budget to the Erbil, in return for 250,000 barrels of crude oil per day, but the Region has not made any transfers.

Sairoon Alliance lawmaker Jawad Kazim al-Musawi has now formally requested data about what sort of revenue has been lost to the federal government by the Kurdistan Regional Government’s (KRG) failure to abide by the law.

According to estimates from the federal Ministry of Oil, the Region has sold more than 107 million barrels. The ministry and member of the Council of Representatives' Oil, Energy and Natural Resources Committee Ghalb Muhammad have both said that that would represent billions of dollars of lost revenue for the federal government.

Meanwhile, Baghdad has sent 455 billion Iraqi dinars ($381.6 million) to the Kurdistan Region under the terms of the 2019 law, in order that the KRG can pay public sector salaries.

The lack of transparency and the imbalance in adherence to the law between Baghdad and Erbil is setting up a major confrontation during the drafting process, with many in the Council of Representatives frustrated about the 2019 law.

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Member of Parliamentary Finance: Most members of the committee will refuse to allocate a percentage to the region in the budget

Policy

2019-09-28 | 06:48

 

3,843 views

 

A member of the parliamentary Finance Committee Hanin al-Qadu, Saturday, that the majority of members of the Committee will refuse to allocate any proportion of the Kurdistan region in the next budget because of "non-fulfillment" of the Kurdistan Regional Government's obligations in previous budgets.

Al-Qadu said in an interview with Alsumaria News, that "the draft federal budget law for next year did not reach the parliament until the moment, and the government still has to complete it," noting that "there is an opinion within the majority of members of the Committee not to renew the share of the Kurdistan region in the budget."

 

 

He added, "The region did not pay any dues from the export of oil, which is set at 250 thousand barrels per day to the federal government," adding that "the government of the region is still refusing to implement the budget has not received any amounts of border outlets or customs, estimated at five billion dollars a year in addition to The amount of oil exports estimated at 600 thousand barrels per day. "

He stressed that "as a result of the failure of the territorial government to meet these obligations, the majority of members of the Finance Committee will refuse to allocate any amount of money to the Kurdistan region in the next budget."

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Rebounds Saturday 28 September 2019 15:27

Parliamentary Finance: The planned budget deficit in 2020 is $ 30 trillion

A member of the Parliamentary Finance Committee Sherwan Mirza, said the draft budget 2020 still the government, and there are expectations of its arrival in the House of Representatives next month.

He added that the amount of deficit planned in the budget of 2020 is more than 30 trillion dollars.
He pointed out that there is a lot of excess in the amount of the budget deficit, which amounted to $ 70 trillion, stressing that this figure if it actually occurs in the budget, the economic situation is serious in the country.

He continued, "The Committee is waiting for the final accounts to see how much the budget deficit this year and the next."

https://www.thebaghdadpost.com/ar/Story/180933/المالية-النيابية-مقدار-العجز-المخطط-في-موازنة-2020-يبلغ-30-ترليون-دولار

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Region's budget share may be in danger in budget negotiations, says MP

Head of the New Generation Movement caucus in the Council of Representatives Yusra Rajab speaks to NRT TV Hawali Rozh program on Saturday, September 28, 2019. (Photo Credit: NRT Digital Media)

4 Hours ago

https://www.nrttv.com/En/News.aspx?id=15442&MapID=2

 

 

SULAIMANI – Head of the New Generation Movement caucus in the Council of Representatives Yusra Rajab said on Saturday (September 28) that the Kurdistan Regional Government (KRG) is not ready to submit even a drop of oil to Baghdad, despite demanding its budget share from the federal government.

“If the Region would does not make an agreement with Baghdad about the [federal] draft budget, the salary payments of the Region’s employees may be endangered,” Rajab said during NRT's Hawali Rozh program.

“We have asked the Iraqi Government to spend the Region’s funds and the Iraqi prime minister has promised to send funds to the Region’s farmers which were not paid in past years,” she said.

“The Iraqi political parties are united about the Kurds and the KDP and PUK should wisely deal with the budget issue.”

The failure of the KRG to send oil for export as required under this year’s budget appears set to seriously affect budget negotiations between Erbil and Baghdad. The asymmetrical observance of the 2019 has frustrated lawmakers in the federal government, which continues to send money to pay the KRG's salary bill.

In recent weeks, there have been several high-level delegations that have traveled between the capitals.

A committee was recently formed by the Council of Representatives to look into the less-than-transparent oil exports of the Kurdistan Region.

(NRT Digital Media)

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2019/09/28 17:54

 

Parliament plans to reduce oil dependence in the budget of 2020 .. The most prominent alternatives outlets, taxes and investments

http://almasalah.com/ar/news/179346/البرلمان-يعتزم-تقليل-الاعتماد-النفطي-بموازنة-2020-وابرز-البدائل-المنافذ-والضرائب-والاستثمارات

Baghdad / Obelisk: The Committee on Labor and Social Affairs of Parliament, Saturday, September 28, 2019, the House of Representatives is determined to reduce the adoption of oil fundamentally in the preparation of the draft federal budget law for 2020.

Committee member Fadel Jaber said that the House of Representatives will allocate other doors to finance the public budget and stay away from dependence on oil exports mainly, pointing out that those gate will include border outlets, taxes and investments.

He added that the move away from oil dependence is important to avoid the expected budget deficit due to fluctuations in oil prices globally, noting that the instability of oil prices will put the country with great embarrassment to its service commitments with the people.

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Erbil, Baghdad could reach deal on oil, budget in October: Oil Minister

 

1 hour ago  |  60 Views

Lawk Ghafuri

 

https://www.rudaw.net/english/middleeast/iraq/280920192

 

 

 

 

ERBIL, Kurdistan Region – Baghdad and Erbil could reach an agreement on their problematic oil and budget issues by next month, Iraq’s Oil Minister Thamir al-Ghadhban told Rudaw on Saturday in Baghdad. 

“We are close to reaching an agreement with Erbil regarding oil and the budget,” Ghadhban said on the sidelines of the RCD Security and Economic Forum. “I hope that we will reach an agreement during the month of October.”

In recent months, delegations have shuttled back and forth between Baghdad and Erbil as relations between the two continue to improve after hitting a low in late-2017 when the Kurdistan Region held a referendum on independence. The regional and federal governments formed committees for talks on joint administration of the disputed territories, the Kurdistan Regional Government (KRG)’s share of the federal budget, and the touchy subject of Kurdistan’s independent oil sales. 

Within the coming weeks, the delegations will meet to discuss the oil and budget issues in a “very detailed way,” Ghadhban said. 

Baghdad cut the KRG’s share of the budget from 17 percent to zero in 2014 in response to the Region’s independent oil sales. The funding slash, coupled with a costly war with the Islamic State (ISIS) and the collapse of global oil prices in 2016, plunged the Kurdistan Region into a financial crisis.

Erbil’s share of the budget was reinstated in 2018, but at the reduced rate of roughly 12 percent.

Under the 2019 budget, the KRG agreed to send 250,000 barrels of oil per day to Iraq’s state oil marketing body, SOMO, in exchange for its share of the budget. Although Baghdad has delivered funds to Erbil’s central bank, the KRG is yet to send a single barrel of oil south.

Kurdish lawmakers in the Iraqi parliament have advised the KRG to start sending Baghdad the oil in order to avoid losing out in the 2020 budget.

KRG’s newly elected Prime Minister Masrour Barzani, who was sworn in on July 10, has signaled that his administration wants to “develop a constructive and stable partnership” with Baghdad and resolve past disputes.

Relations have vastly improved under the leadership of Iraqi Prime Minister Adil Abdul-Mahdi, but this spirit of goodwill could soon run out if the KRG continues to flout its end of the bargain to deliver oil.

Improvements in the relationship were noted by Jeanine Hennis-Plasschaert, UN Special Envoy to Iraq, in her quarterly briefing to the UN Security Council (UNSC) when she expressed hope that the new governments in both Erbil and Baghdad can resolve their differences now.

“This has created a positive momentum to advance negotiations between Baghdad and Erbil, also demonstrated by the establishment of a High-Level Joint Committee,” she said. 

“I cannot deny: the expectations are high, in particular on key files – including Kirkuk, Sinjar, and revenue sharing,” she added.

[keylime]

Rocktober here we come!

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Parliamentary Finance: The completion of the budget is subject to agreement on the proportion of the region

13:25 - 29/09/2019

 

  

The information / Baghdad ..
The parliamentary Finance Committee, on Sunday, the completion of the bulk of the draft budget law 2020 by the Ministry of Finance, noting that sending the budget to parliament subject to consensus between Erbil and Baghdad on the share of the region.
Committee member Jamal Seydou said in a statement to the information that "the budget department in the Ministry of Finance has completed most of the details of the 2020 budget after taking into account the projects and the actual need of the ministries."
Seydou said, "The draft law has been almost completed, but it will not be submitted to the government for ratification and then to parliament without consensus on the share of Kurdistan."
"Negotiations between Baghdad and ErbilOn the budget and outstanding issues reached unprecedented stages and is on its way to the solution and in case of reaching a consensus between the parties, the budget will be sent to Parliament and determine the region's share according to population statistics in the Ministry of Planning or the Ministry of Commerce. Ended / 25 KD

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Parliament debates the 2020 budget

Monday 30 September 2019 71

 

Baghdad / morning

The Parliamentary Finance Committee discussed with a delegation from the United Nations Development Program in Iraq (UNDB) the preparation of the budget for 2020.

According to a statement issued by the Commission, received "morning", a copy of it, "Chairman of the Commission Haitham al-Jubouri received a delegation from the United Nations Development Program in Iraq (UNDB) for the purpose of discussing the preparation of the budget for 2020."

At the outset of the meeting held at the headquarters of the Finance Committee, Jubouri welcomed the delegation of the Organization and listened to his views and views on the budget preparation plan and the possible support to the Finance Committee in this regard. Subsequently, when the budget reaches the House of Representatives, many meetings are held with the ministries and institutions to discuss their plans and projects and determine the important priorities for each of them. The governorates are constantly seeking to obtain their entitlements to implement their reluctant projects and to initiate new productive service projects such as hospitals and schools, in addition to allocating sufficient amounts to the liberated cities and upgrading their infrastructure. ”

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PARLIAMENTARY WORK: 90 MILLION BARRELS OF OIL OWED BY KURDISTAN

Sunday, 29 September 2019 7:06 PM

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Baghdad / National News Center

The Committee on Labor and Social Affairs, on Sunday, the existence of 90 million barrels of oil owed by the Kurdistan Regional Government did not pay to the federal government, while showing that the House of Representatives will refrain from including the region's budget in the draft federal budget law for 2020.

Committee member Fadhil al-Fatlawi said in a statement to the National News Center that "the vote on the draft federal budget law for 2020 will face a big problem for the failure of the Kurdistan Regional Government to pay oil dues to SOMO," pointing out that "90 million barrels of oil owed by Kurdistan did not pay to the government The federal budget within its commitment to the 2019 budget. ”

He added that "the lack of commitment to the region will push the House of Representatives to refrain from the inclusion of its budget in the budget of 2020 ″, noting that" all political forces agree not to grant the region financial dues within the 2020 budget because he did not commit to pay financial dues from oil.

The parliamentary Finance Committee, earlier, the completion of the bulk of the draft budget law 2020 by the Ministry of Finance, noting that sending the budget to parliament subject to consensus between Erbil and Baghdad on the share of the region.

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Parliamentary Finance expects to decrease the budget deficit in 2020

Political | 08:58 - 30/09/2019

 

 

 

 

BAGHDAD - Mawazine News
Finance Committee in the Council of Representatives expected to reduce the budget deficit in 2020 to 40 trillion dinars.
Committee member Ahmed Mazhar al-Jubouri said that "the committee has been studying the budget next year for almost a month, through continuous meetings between the Committee and the Ministry of Finance," pointing out that "the projections indicate that the size of the deficit in the budget of 2020 amounted to 40 trillion dinars."
"The government needs to create conditions to support economic reform, exploitation and reconstruction activities, focus on immediate reforms and provide the means to revive the banking sector, and reconsider plans in the fields of agriculture and the economy," he added.
“A good financial market can support fiscal policy and its instruments, such as government bonds, which can diversify public revenues, as well as enhance investor confidence in the financial market, but not only in times of deficit,” said a member of the Parliamentary Finance Committee. Wider use as a source of public revenue within a flexible and effective fiscal policy. "

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2019/09/30 19:27

Parliamentary Finance: October 15, the date of sending the 2020 budget to Parliament

http://almasalah.com/ar/news/179486/المالية-النيابية-15-تشرين-الأول-موعد-إرسال-موازنة-2020-للبرلمان

 

Baghdad / Obelisk: The Parliamentary Finance Committee, Monday, September 30, 2019, the date of sending the executive government draft federal budget law for 2020 to the House of Representatives for the purpose of study and vote.

She said the committee member Siham Shannon, that the Prime Minister will send the draft federal budget for 2020 to the House of Representatives on October 15 next, pointing out that the House of Representatives will discuss the budget through its next sessions to see the size of the deficit.

She added that non-oil revenues may reach 10 billion Iraqi dinars within the 2020 budget, indicating that the House of Representatives is going to go towards new doors to finance the budget and reduce oil dependence.

The Committee on Labor and Social Affairs, on Sunday, the existence of 90 million barrels of oil owed by the Kurdistan Regional Government did not pay to the federal government, while showing that the House of Representatives will refrain from the inclusion of the region's budget in the draft federal budget for 2020.

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A surprising new forecast for the 2020 budget deficit

http://www.nahrainnews.net/content.php?id=27991

Text: The Finance Committee of the Council of Representatives expected a decrease in the budget deficit in 2020. Committee member Ahmed Mazhar al-Jubouri said in a press statement that "the Committee has been studying the budget next year for nearly a month, through continuous meetings between the Committee and the Ministry of Finance, pointing out that the projections indicate that the size of the deficit in the budget of 2020 amounted to 40 trillion dinars." After it was expected to reach more than 70 trillion. He added that the government needs to create conditions to support economic reform, exploitation and reconstruction activities, focus on immediate reforms and provide the means to revive the banking sector and revise plans in the fields of agriculture. “A good financial market can support fiscal policy and its instruments, such as government bonds, which can diversify public revenues, as well as enhance investor confidence in the financial market, but not only in times of deficit,” said a member of the Parliamentary Finance Committee. It is widely used as a source of public revenue within a flexible and effective fiscal policy. " It is noteworthy that economic concerns are raised in Iraq because of a large fiscal deficit and unprecedented history of the modern state in the fiscal budget for 2020. The committee to follow up the implementation of the government program, earlier on the rates of sharp decline in revenues of the state oil and non-oil, "warning" the possibility of a severe economic crisis in the country. The parliamentary Finance Committee revealed on 8 September that the federal budget deficit for 2020 reached - according to the prototype - to 72 trillion dinars "usually it" a very high number, and for the first time the deficit in the Iraqi state reaches him. But the Central Bank of Iraq, dispelled these fears and said that "the amount of the budget deficit for 2020 is not yet proven as indicated by the Ministry of Finance, and that what is being circulated is just hypothetical and unresolved figures so far, indicating that it must be the upper limit of the deficit Compliant with the new Financial Management Law. "   Views 4 Date Added 30/09/2019 Content number 27991