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Government Advisor: 2020 Budget Is Ready In Finance And Will Include China Agreement !


DinarThug
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Abdul-Mahdi’s advisor calls the parliament to ask the government to send the 2020 budget

 

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15th January, 2020


The Prime Minister’s advisor for economic affairs, the appearance of Muhammad Salih, called today, Wednesday, the House of Representatives to request the government to send the 2020 budget.

Saleh said in a statement seen by Mawazine News, “The Presidency of the House of Representatives must ask the government to send the 2020 budget for the purpose of viewing It has to prepare for its enactment."

The House of Representatives discussed, earlier, the granting of the caretaker government headed by Adel Abdel-Mahdi, the power to send the General Budget Law of 2020 to Parliament to vote on it, after Abdel-Mahdi announced after his resignation that the caretaker government could not submit a draft general budget law to the House of Representatives.

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Parliamentary Economy: The Chinese Agreement will End Phantom Projects and Attempts to Drop It Failed

 

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09:25 - 01/16/2020
 
 

The Parliamentary Economic and Investment Committee confirmed, Thursday, that all attempts to overthrow the Chinese agreement will be unsuccessful, noting that the agreement will eliminate corruption and fictitious projects, and there is a lot of this agreement does not coincide with his interests, causing him to try to drop it.

Committee member Abbas Yaber Al-Atafi said in a statement to "Information", that "the Chinese agreement will eliminate all corruption that exists in investment projects, and Iraq needs this agreement, especially as it will be construction and reconstruction in exchange for oil."

He added that "part of the oil that will be delivered to China under Iraqi supervision to put its revenues in the account opened by the Central Bank with China, as the financial balance was put in place during the month of October last, and the size of those funds reached 500 million dollars, to include infrastructure, roads and factories building projects." And that "many who do not want or do not agree with this agreement with his interests are beginning to lose it, especially as it will eliminate all fictitious projects."

He explained that "the agreement is not limited to Chinese companies, but rather that the door is open for various companies to enter into the agreement for the reconstruction of Iraq and the implementation of important projects in it, especially the Silk Road that links Iraq to other countries." 

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22 hours ago, DinarThug said:

Conscious / Al-Attar: The importance of the new financial management law passed by the House of Representatives


 
 
 
January 15, 2020
 
 
Conscious / Al-Attar: The importance of the new financial management law passed by the House of Representatives

 

 

Conscious / Baghdad / N.N.

On Wednesday, a member of the Iraqi Economic Council, Ghadeer Al-Attar, announced the importance of the new financial management law recently passed by the parliament.

A statement by Al-Attar received by ( Iraqi Media News Agency / INA ) stated that "the Financial Management Law aims to regulate the rules and procedures governing financial and accounting management in the field of planning, preparation, implementation, control and audit of the federal public budget."

He added, "The law will direct all federal revenues to the public treasury to cover public expenditures, determine the internal control units' link in administrative and technical terms, establish mechanisms related to budget implementation, the commitment of each implementing agency, and determine the responsibility of the Ministry of Finance in the implementation phase."

Al-Attar indicated that “through the Financial Management Law, it will be possible to set specific dates to present the final accounts and adhere to the principles of the budget (budget transparency, budget comprehensiveness, budget unity, annual budget, and non-allocation) when preparing and implementing the federal public budget and related matters in a manner that ensures the stability of the economy Macro and financial stability, enhancing budget allocation, improving spending efficiency and effectiveness, ensuring optimal cash management and improving the quality of budget information provided to the House of Representatives and public opinion. ”

The House of Representatives voted in its session yesterday, Monday, to amend the Financial Management Law

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Al-Attar reveals the importance of the Financial Management Law and its link to the budget

 

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15th January, 2020


A member of the Iraqi Economic Council, Ghadeer Al-Attar, revealed on Wednesday the importance of the new financial management law recently passed by the parliament.

Al-Attar said in a statement received by / Mawazine News / a copy of it, "The Financial Management Law aims to regulate the rules and procedures governing financial and accounting management in the field of planning, preparation, implementation, control and audit of the federal public budget." He added, "The law will direct all federal revenues to the public treasury to cover public expenditures, determine the internal control units' link in administrative and technical terms, establish mechanisms related to budget implementation, the commitment of each implementing agency, and determine the responsibility of the Ministry of Finance in the implementation phase."

Al-Attar pointed out that "through the Financial Management Law, it will be possible to set specific dates to present the final accounts and adhere to the principles of the budget (budget transparency, budget comprehensiveness, budget unity, annual budget and non-allocation) when preparing and implementing the federal public budget and related matters in a manner that ensures the achievement of macroeconomic stability and financial stability Strengthening the allocation of budget resources, improving the efficiency and effectiveness of spending, ensuring optimal cash management and improving the quality of budget information provided to the House of Representatives and public opinion.” The Iraqi Council of Representatives voted in its session on (13-January-2020) to amend the Financial Management Law. 

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28 minutes ago, DinarThug said:


 

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Al-Attar reveals the importance of the Financial Management Law and its link to the budget

 

image.jpeg.1f3836f945f9188112a02bd72d8a19f8.jpeg

 

15th January, 2020


A member of the Iraqi Economic Council, Ghadeer Al-Attar, revealed on Wednesday the importance of the new financial management law recently passed by the parliament.

Al-Attar said in a statement received by / Mawazine News / a copy of it, "The Financial Management Law aims to regulate the rules and procedures governing financial and accounting management in the field of planning, preparation, implementation, control and audit of the federal public budget." He added, "The law will direct all federal revenues to the public treasury to cover public expenditures, determine the internal control units' link in administrative and technical terms, establish mechanisms related to budget implementation, the commitment of each implementing agency, and determine the responsibility of the Ministry of Finance in the implementation phase."

Al-Attar pointed out that "through the Financial Management Law, it will be possible to set specific dates to present the final accounts and adhere to the principles of the budget (budget transparency, budget comprehensiveness, budget unity, annual budget and non-allocation) when preparing and implementing the federal public budget and related matters in a manner that ensures the achievement of macroeconomic stability and financial stability Strengthening the allocation of budget resources, improving the efficiency and effectiveness of spending, ensuring optimal cash management and improving the quality of budget information provided to the House of Representatives and public opinion.” The Iraqi Council of Representatives voted in its session on (13-January-2020) to amend the Financial Management Law. 

 

 

But now they are taking 6 WEEKS OFF!!!!  WHERE DO THEY FIND THE TIME FOR WORK!!!!  ALL THIS VACATION TIME MUST BE EXHAUSTING.... SMDH

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21 minutes ago, TexasMike1958 said:

 

 

But now they are taking 6 WEEKS OFF!!!!  WHERE DO THEY FIND THE TIME FOR WORK!!!!  ALL THIS VACATION TIME MUST BE EXHAUSTING.... SMDH

They are not having their daily sessions.  But if a PM is nominated or when the budget needs to be approved, they will assemble to take care of that.  So its just a hiatus from daily sessions. 

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9 minutes ago, showell83 said:

They are not having their daily sessions.  But if a PM is nominated or when the budget needs to be approved, they will assemble to take care of that.  So its just a hiatus from daily sessions. 

Parliament is on holiday recess for a month and a half. I've never heard of them to come back in session to take care of anything if needed. Them going on break shows how much they care about the citizens. 

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Al-Fatlawi confirms that there are parliamentary moves to pass the 2020 budget


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10:50 - 01/17/2020

 

Member of the Al-Fateh Alliance Fadel Al-Fatlawi confirmed on Friday that there are continuous parliamentary moves to pass the 2020 budget, pointing out that the parliament session next Sunday will witness discussions in this regard.

In a statement to Al-Maalouma, Al-Fatlai said, "Parliament has an extensive vision about the budget and the need for Iraq to start with the start of the new year."


He added that "there are moves and discussions within Parliament in order to grant powers to the government to send the 2020 budget to the House of Representatives to vote on it."

He stressed that "the parliament session next Sunday will witness discussions to reach a decisive result on the budget, because Iraq cannot remain without a budget in the presence of the caretaker government."

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An economist proposes a solution to end the budget approval dilemma

 

An economist proposes a solution to end the budget approval dilemma 
 
 
1/16/2020 9:26 PM
 
 
The economic expert, Abdul Rahman Al-Mashhadani, proposed a solution to end the dilemma of approving the federal budget.
 

Al-Mashhadani told Al-Furat News that "every year we fall into the problem of approving the budget, knowing that many countries approve their budgets for two years or more to allow projects to be completed

He added, "So if the government and parliament approve approving the budget for two or three years, there will no longer be any problem in completing the projects

Al-Mashhadani indicated that "the caretaker government has no right to send the budget law to the parliament, as it is a draft of the government’s program for the coming year

And, "The 2020 budget was organized with a large deficit according to the statements of the parliamentary finance, which amounted to 48 trillion dinars," returning it to a "large number that is difficult to cover

Al-Mashhadani noted that "the political dispute overshadowed the issue of the budget, as the economic aspect has been resolved in the country through the amendment of the recent financial management law, which authorized the government to recycle investment allocations for projects that were not disbursed in 2019.   He explained, "That is, the operating budget is ongoing as it is in 2019 and investment projects will be funded from the retained funds, so I think the reason is more political than economic

The economist concluded by saying that "the percentage of achievement in the operational budget for 2019 did not reach 10%, so in 2020 things will not be that complicated

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11 hours ago, Pitcher said:

 

Thanks Thugs, nice article.  Now we need to analyze what EXTENSIVE means.  😂 😆 

 

I hope it’s not like the word soon or IMMINENT!!!   😂 😆 😝 

 

Still noncommittal at this this point in time. I think we might be looking at " just around the corner "  . . . " in the coming days " or " In the near future " :facepalm: 

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2 minutes ago, horsesoldier said:

Still noncommittal at this this point in time. I think we might be looking at " just around the corner "  . . . " in the coming days " or " In the near future " 

 

Yep, horsesoldier, any day now!  😂 😆 😝 

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5 hours ago, DinarThug said:

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An economist proposes a solution to end the budget approval dilemma

 

An economist proposes a solution to end the budget approval dilemma 
 
 
1/16/2020 9:26 PM
 
 
The economic expert, Abdul Rahman Al-Mashhadani, proposed a solution to end the dilemma of approving the federal budget.
 

Al-Mashhadani told Al-Furat News that "every year we fall into the problem of approving the budget, knowing that many countries approve their budgets for two years or more to allow projects to be completed

He added, "So if the government and parliament approve approving the budget for two or three years, there will no longer be any problem in completing the projects

Al-Mashhadani indicated that "the caretaker government has no right to send the budget law to the parliament, as it is a draft of the government’s program for the coming year

And, "The 2020 budget was organized with a large deficit according to the statements of the parliamentary finance, which amounted to 48 trillion dinars," returning it to a "large number that is difficult to cover

Al-Mashhadani noted that "the political dispute overshadowed the issue of the budget, as the economic aspect has been resolved in the country through the amendment of the recent financial management law, which authorized the government to recycle investment allocations for projects that were not disbursed in 2019.   He explained, "That is, the operating budget is ongoing as it is in 2019 and investment projects will be funded from the retained funds, so I think the reason is more political than economic

The economist concluded by saying that "the percentage of achievement in the operational budget for 2019 did not reach 10%, so in 2020 things will not be that complicated

 

 

Reading these articles is making my head spin

 

 

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

 

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12:07 - 18/01/2020
 

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 that "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." 
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Al-Fateh: Tomorrow's session will discuss authorizing the government to send the budget and amend the retirement law

 

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16:41 - 18/01/2020
 
 

The Al-Fateh coalition announced, on Saturday, the discussion of amending the retirement law and finding a legal formula to send the budget to the House of Representatives and extend the legislative term during the House session scheduled for Sunday.

"The parliament will discuss a number of laws during the session scheduled for tomorrow, including discussing extending the legislative term and reducing the holiday," said the deputy from Al-Fath Fadhel Jaber.

He added that "the session will witness the opening of discussion for the amendments decided on the retirement law, especially the doctors’ retirement clause and some slides," noting that "the council presents a proposal and a legal formula that is voted upon to authorize the government to send a draft budget for 2020."

He explained that "the political blocs are unanimous in authorizing the government to send the budget to its importance in running the daily lives of citizens and it is not possible to wait for the new government." 

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How much have the external and internal debts of Iraq reached ... Abdul Mahdi’s advisor answers?

 

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18th January, 2020

 


The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, revealed, on Saturday, the size of Iraq's external and internal debt.

Saleh said, in a statement reported by the official news agency, that "the external indebtedness of Iraq is less than 30 billion dollars, and that there is external indebtedness pending on the Paris Club agreement, which deducted about 80% of debts before 1990, has not been settled." He added, "Iraq's external debt of pre-1990, amounting to 128 billion dollars, 80% of which was written off under the Paris Club agreement."

Saleh pointed out that "there are from 41 to 42 billion dollars belonging to the Gulf states and some other countries that return to before 1990 debts outside the Paris Club agreement,"noting that they are "outstanding debts that are resolved by resorting to the Paris Agreement as a standard agreement for all debts." Iraq". He pointed out that "the debt remaining from the Paris Club agreement is less than 9 billion," explaining that "there are new debts that were arranged as a result of the war with the ISIS terrorist gangs, which estimated about 13 billion dollars."

He continued, "The remaining amount for countries inside and outside the Paris Agreement, and for international multilateral financial institutions not subject to the Paris Club agreement, is estimated at 28 billion dollars." He explained that "their payment will be in the form of payments from the year 2020 to the year 2028, each according to its maturity." And he stated that "the internal debt of Iraq is estimated at 42 billion dollars for the Central Bank, Rafidain, the TPI, and Al-Rashid." 

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A deputy reveals the price of a barrel of oil in the 2020 budget and the size of its deficit

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18:01 - 01/19/2020
 

The House of Representatives has decided, today, Sunday, next Wednesday to hold its next session due to the lack of a quorum, as the session was expected to discuss the mechanism for the government to send the federal budget bill for the year 2020. 

The deputy of the Al-Fateh Alliance Fadel Al-Fatlawi revealed, on Sunday, the price of selling a barrel of oil within the federal budget bill for 2020, among which the fiscal deficit in the 2020 budget will not exceed 30 trillion Iraqi dinars.

Al-Fatlawi said in a statement to the "information", that "the government approved the sale price of a barrel of oil at $ 50 within the federal budget bill for 2020, according to the oil minister," noting that "the fiscal deficit in the budget does not exceed 30 trillion Iraqi dinars."

He added that "what the media reported, quoting government figures, that the deficit will reach 42 trillion dinars is inaccurate and an exaggerated matter," noting that "the House of Representatives is currently discussing a legal justification allowing the government to send the budget law to it."
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Al-Hadithi: There are two powers that the government cannot exercise ... and this obstacle is the last to send the budget

 

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21st January, 2020


The spokesperson, on behalf of the media office of the Prime Minister, Saad Al-Hadithi, Tuesday, acknowledged that the legal impediment is to prevent the Council of Ministers from sending the budget to Parliament.

Al-Hadithi said, "Since the acceptance of its resignation by the House of Representatives, it has turned into daily affairs, but its tasks are continuous and continuous and it performs according to what is required by the duty." He pointed out that "these tasks are part of the constitutional obligations that cannot be abandoned as they relate to the functioning of the administrative, financial, economic and service aspects of the citizen, with the exception of two powers that can no longer be exercised, namely, sending bills to Parliament, and concluding international agreements and treaties."

He added that "the government has not wavered, slowed down, or hesitated to send the draft budget at all, but rather is keen to do this as soon as possible because it is well aware that government action is based on budget decisions in all cases, and in the event that it affects Of projects and operating and investment expenditures." And Al-Hadithi said, “If there was a legal possibility to take this step, the government would have hesitated to send the draft budget because it had been completed since December of last year,” hinting that “a legal impediment prevents the Council of Ministers from sending the budget to Parliament.” 

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