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Strategic Expert: The Value Of The Iraqi Dinar Will Decrease In Relation To The US Dollar As Oil Falls !

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Electronic payment tools


Tuesday 10 March 2020


Suha Alkafaie 


It is known that the Prime Minister decided on 29/5/2018 to launch the project of localization of salaries and electronic taxation, with several goals, the most important of which is the advancement of the Iraqi economy and the achievement of additional revenues for oil revenues, but how is this achieved? And activating the work of various economic sectors such as industry and agriculture, which are two rivers They are not depleted, in addition to other sectors and their big role, such as the transportation and tourism sectors, etc.

What is the relationship of salary settlement with this goal, and what are the mechanisms to achieve these goals, which the government, the private sector and the international community and every Iraqi are seeking and aspiring for ?
 

, and this is a distant strategic goal that should be under the eyes of the Ministry of Planning in measuring the extent of success achieved and adjusting its paths, if it deviates from His goals.


It also extends to reducing endemic corruption, as a result of relying on automated devices to pay money from any citizen such as the POS (electronic payment points), as it eliminates intermediaries, users, and bribes. 

Another very important organizational goal is to preserve government, private sector, and citizen funds. How (in practice) is this achieved?

These major goals I will try to explain in a series of articles by examining the mechanisms and practical examples with a simple explanation for each case, but it is accurate and coherent.

Providing an international electronic (salary card) for the employee is the first spark for all of these goals, as the salary has another added value when he entered the electronic card. Debit card only, as it will provide a bank account that will organize and significantly change the life of the employee from many sides and will work to: 

First: Regulating the citizen’s disbursements. Let's name it:

1- First Organization:
 (Citizen's repayments) So organizing the individual's daily financial life with his various payments, the card or bank account will contribute to reducing the time, effort and money spent to sustain his daily life, as he can agree with the bank to pay fees, taxes and fines through an agreement with the bank, and deduct and pay at the end of each month To the concerned authorities from his bank account or through the use of payment tools by phone, and no need to go to any party asking him to pay, and exposure to the loss of time in the transfer and spending on the transfer and the effort exerted, and in this case 
 The bank will contribute to organizing the funds of government ministries on the one hand, as it will also collect in the bank for the benefit of government ministries.

2- The purchase or purchase associated with the transportation of large commodities. He can buy a refrigerator, for example, through the website of any Iraqi company that offers its services and delivers the refrigerator to the house. As a result, he will keep his salary from deficiencies that drain his salary and be forced to pay it.

3 - Buying from stores, restaurants, markets, pharmacies, laboratories wages ... and others, through the POS payment point device will not pay higher than the price set for it, and this device does not deduct a commission from the buyer, as he will buy at the specified prices, so the Iraqi citizen will pay money without users and intermediaries Bribes and without delay and queuing through the POS payment devices, which will be installed for the private sector and government ministries later when launching the electronic tax project, also will get rid of the deficiency, the forger, the ripper, theft, loss, and many other life examples, on the other hand, its various payments will lead to positive results for healthier Business and private sector companies, on the other hand.

4- The citizen will be able to apply for financing for the purchase of a residence or a car, and pay his dues upon deduction monthly.

5 - Banks will provide various services to meet the employee's necessary needs, which contribute to the development of his life, such as installing solar energy systems in his home in installments, which will provide him with money and reduce his payments to the owners of generators and give him a working system for free energy sources.

- He will be provided with various privileges and discounts in order to benefit from his bank account, such as discounted travel packages, travel and insurance card group points, and other services.

8 - It will provide him with the possibility to enter a new income for him through (a partnership contract) in Islamic banks with any of his relatives, by entering into a project that provides his salary card as a guarantee to provide financing for a small project, and he can benefit from the owner of the project, who has to manage and succeed the project.

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A "comprehensive economic plan" to increase revenues and pressure expenditures

 

Tuesday 10 March 2020

 

alsabaah-33713.jpg

 

Baghdad / Tariq Al-Araji Omar Abdul Latif 
 
 
The Finance Committee in the House of Representatives, in coordination with the government, intends to launch a "comprehensive economic plan" to ward off the risks of low oil prices on the country, while stressing that the plan includes reconsidering the items of the 2020 budget by pressing on spending and deleting unnecessary paragraphs while increasing and tracking non-oil revenues precisely. 

Member of the Parliamentary Finance Committee Ahmad Al-Saffar told {morning}: “The immediate, immediate plan is to reconsider the items of the state’s general budget and public expenditures, by deleting what is not necessary, such as delegations and conducting a careful follow-up process for non-oil revenues from border ports and taxes to pressure the tunnels and increase Revenues".

He added that we "need to reduce dependence on oil and move the actual economic sectors in order not to repeat such a crisis in the future", indicating that "Iraq is a rich country and has full sources of material, human, agricultural, industrial, commercial, tourism, labor and strategic location."

On the other hand, Undersecretary of the Ministry of Oil, Hamid Al-Zobaie, revealed to Al-Sabah that continuous contacts are being made with OPEC member countries and outside them in order to develop appropriate solutions to prevent the deterioration of the oil markets currently. 

Al-Zobaie stressed that "Deputy Prime Minister and Minister of Oil, Thamer Al-Ghadban, is currently in intensive contact with OPEC ministers and outside to bring views closer and find appropriate solutions to stop the decline in global oil prices." 

The Undersecretary of the Ministry of Oil expressed his hope that "the extensive Iraqi contacts will contribute to bringing the views closer to serve the interests of the people of OPEC countries and outside it and achieve a balance in the global oil markets."

In turn, Director General of the Oil Marketing Company "SOMO" Alaa Al-Yasiri said in a statement that "Al-Sabah" received a copy of it that "the company follows the most accurate standards that are commensurate with the quality and density of Iraqi oils."   

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Parliamentary Finance: Employee salaries are not affected

 
Baghdad / Omar Abdul Latif and Shaima Rashid
 
 
 
The Parliamentary Finance Committee affirmed that the salaries of employees are fully insured and untouched despite the size of the budget deficit and the drop in oil prices, and the committee revealed efforts to add about 700 billion dinars in debt owed by mobile phone companies to fill the deficit in the budget of 2020.

A member of the Finance Committee Jamal Cougar told Al-Sabah: “The salaries of employees are insured and will not be approached,” recalling what happened when oil prices fell in 2014 and the country was in a state of war with ISIS terrorist gangs, and the bank reserve fell to its lowest level, and salaries were insured.

"The economic crisis is not just about salaries, it also cries O also to provide job opportunities and reduce unemployment and poverty, support the private sector and attract investments.

 In addition, the head of the Parliamentary Finance Committee, Haitham Al-Jubouri, denied the rumors that talked about discussing reducing the salaries of state employees, and said: " There is no truth to discuss reducing the salaries of state employees because of the low oil prices. ”

For his part, Aswan Al-Chaldani, member of the Information and Communications Committee in the House of Representatives, told Al-Sabah:“ The committee demanded the return of debts owed by mobile phone companies to the state treasury, or added to a budget 2020 to fill the deficit in it, since the Iraqi people are more important to them than others. ”Al-Chaldani revealed,“ There are great pressures exerted on everyone by influential political parties to impede the collection of these debts from these companies, to be evidence that there are interests between companies. ”

And those entities in this vital and important sector, which can not be You will benefit from it in all security, economic, social and other aspects.

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40 minutes ago, Bama Girl said:

From your lips to the CBI’s and IMF’s ears!!  I surely hope you’re right. 😊

I hope it happens in the first quarter of 2020🙏🏼😊

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17 minutes ago, Laid Back said:

I hope it happens in the first quarter of 2020🙏🏼😊

By March 31st, would work for me. Got lots of other investments I’d like to hop on.... tapped out at the moment. 

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A former minister expects to cut the salaries of employees and reduce the value of the dinar due to the collapse in oil prices 

 

114173.jpg?watermark=4

 

Politics 03/2020 22:10 1238 Editor: ht   


Baghdad today - Baghdad 

 

The former Minister of Transport, Amer Abdel-Jabbar, expected, on Tuesday (10 March 2020), to reduce employee salaries and increase deductions and taxes, in light of the decline in oil prices in Iraq. In order to reduce the budget deficit.

Abdul - Jabbar in an interview on "point of view" provided by the media Nabil Jassim, on the satellite channel of the Tigris, said that " the continuation of monetary policies and the government 's current contexts itself with a sharp decline in oil prices would be disastrous, and the employee should be expected to deduct his salary perhaps half or exchange part of His salary every two months, "noting that" the next stage may witness a decrease in employee salaries and increased deductions and taxes to reduce the budget deficit. "

He added that "the Iraqi dinar is on its way to float (i.e. reduce its value), and the Iraqi government may have to increase the exchange rate of the dollar to 1250 dinars against the dollar in order to obtain additional funds estimated at 4 trillion dinars in the budget and this matter is positive because it will allow encouraging the national industry because it will raise the value Imported goods and makes domestic competitive. "

He added, "We are afraid of a government decision to reduce the price of the dinar against the dollar to 1300 or 1350 in the event that the drop in oil prices is catastrophic. This float will cause the price of commodities to rise and burden the citizens. The state may use it to reduce the budget deficit."

Abdul-Jabbar continued, "The government's decision to place customs and other exemptions to remove visa amounts with some neighboring countries has harmed Iraq and contributed to preventing the entry of important revenues to the state," noting that "since 2018, he warned of low oil prices in 2020".

He pointed out that "the advisory base available to the Prime Minister is not qualified to deal with major crises, especially those related to low oil prices." He added that "the current advisers are friends of the Prime Minister, one of them told me: whoever understands his work with specialists will not enable him to reach the Prime Minister." Because it will take the place of others. " 

Abdul-Jabbar said that "the recent appointments made by the Prime Minister killed the state and burdened its financial resources, and there is a 200-square-meter department with 270 employees." 

Earlier today, Tuesday, the Finance Committee revealed the fact that the salaries of employees and retirees have been discussed after the drop in oil prices.

The committee confirmed, according to a book issued by it, "The news circulated regarding the reduction of the salaries of employees and retirees is incorrect, and it categorically denies the intention of the financial committee or the parliament, and the government delve into this issue as it is an acquired right."

She pointed out that she "is currently working to develop appropriate and faraway solutions to the issue of employee salaries, in order to advance the reality of the Iraqi economy."

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15 minutes ago, DinarThug said:

 "the Iraqi dinar is on its way to float 

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Great news Thugs!!

Now let’s go find some hotties!!!:eek:

:D

 

FB5AD0ED-13E8-4594-BC6C-E2BB9B984E55.thumb.png.8db4f1b82076a77f532b2db830efe197.png

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National Interest: Three serious crises threaten the Iraqi economy


17:33 - 10/03/2020
 
  
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Information / translation ...

 

A report of the National Interest newspaper confirmed that the drop in world oil prices in 2020 has put Iraq in the eye of the perfect storm, as this year is expected to be the most difficult for the country since 2003.

The report, which was translated by the information agency, stated that “ Iraq suffers from three major suffocating crises: the constitutional crisis represented in the failure so far to find consensus on forming the government and choosing the prime minister, and the second crisis is the Corona virus attack and its economic consequences on the country. The third crisis is the decline in global oil prices and its devastating impact on the country's economy.

He added that "with regard to the constitutional crisis, the widespread popular protests came in response to the growing public concern about corruption and inefficiency in the Iraqi government, and that parliament is sufficient to bring about change because of the disruption of the Iraqi electoral system."

He continued that "the second crisis related to the Corona virus, the state of corruption and incompetence of the government is likely to always hinder Iraq's response to the Corona virus. The " Iraq Oil" website has addressed the problems of the Corona virus in important oil industry in Iraq , such as the rotation of staff in the main oil fields, the impact of logistics and the distribution of basic commodities. But the potential economic problems of Iraq are getting deeper, as Iraqis also face a choice between preventing the Corona virus and lowering the revenue from visits at sacred thresholds that can affect everyone from large investors in luxury hotels to restaurant owners, souvenir parks, taxi and bus drivers, and even Beggars. ”

He continued that “the current crisis of the collapse of oil prices can have a direct impact on the Baghdad budget is enormous. More than 40 percent of Iraqis were born after the 2003 war, and about a third of them were born after Operation Desert Storm and while the population of Iraq was about 24 million when the president announced George W. Bush that the American mission has been accomplished, but by 2030 the population of the country will exceed 50 million, and given the massive political, economic and social transformation in Iraq , it is time to re-engage economically and diplomatically to help Iraq reform its political and economic system to achieve stability. The boom and prosperity that the new generation of Iraqis deserves. ” Ended / 25 z

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Economist: 3 trillion dinars, Iraqi losses due to corona and the drop in oil prices


19:22 - 10/03/2020
 
  
%D8%B1%D9%88%D8%A7%D8%AA%D8%A8-696x409.p


 

Information / private ..

 

Economic expert, Saleh Al-Hammash, confirmed, on Tuesday, Iraq’s losses due to low oil prices, estimated at two trillion dinars, while internal losses due to the lack of movement of funds due to the Corona crisis are estimated at one trillion dinars.

Al-Hamash said to / the information / that "if Iraq continues its oil exports in the same quantities amid low prices, the total losses in oil revenues during the current March will reach about two trillion dinars."

He added that "the lack of revenue will be reflected directly on the citizen due to the lack of secondary revenues for Iraq and its total dependence on oil," noting that "the Corona crisis has reduced the circulation of funds internally and paralyzed the internal economic movement."

He explained that "the lack of circulation of funds incurred the internal market of Iraq , losses estimated at one trillion dinars so far, and can be increased in the event of a continuing crisis."

The Parliamentary Economy and Investment Committee estimated, yesterday, Monday, the deficit in the 2020 budget, about 70 trillion dinars due to the drop in oil prices. Ended 25 and

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8 minutes ago, DinarThug said:

it is time to re-engage economically and diplomatically to help Iraq reform its political and economic system to achieve stability. The boom and prosperity that the new generation of Iraqis deserves

 

8DE62C63-C1D4-47AF-ADCB-AE6463A75BF1.gif.31440c5c88b6ab865c320e7864622ae8.gif

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Quote

The Value Of The Iraqi Dinar Will Decrease In Relation To The US Dollar As Oil Falls !

 

It's already has been since 2003.

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Why should the Dinar be traded internationally? Think about it, from a common sense point of view: What's the point of trade, for a country like Iraq?...That's a key question and an honest answer:The thing is, no offense to the people of Iraq, but your country, especially the leadership, seems full of turdy **** heads. :bananacamel::rake:🚽💩

 

Your leaders have no clue, how to run a country. They are corrupt and lazy and stupid, with a few exceptions. Your country of Iraq is unproductive and fairly useless. Perhaps that will change in time. I don't mean to insult Arabs, but your culture sucks....because it is mired in the past. Yes, there was a golden age of Islam, where Islam was ahead of Christian Europeans, when Islam was a light to the world, when Islam embraced the whole world with courage and an open heart, but that was long ago. Now your Muslim culture is sick and backwards. You have little to offer the world.

 

But God has blessed you with incredible natural resources, oil, many minerals and great climate. You could be the breadbasket of Europe if you managed it well. My hope is Iraq will use it's wealth to create a modern society and integrate with the world. To Iraq I'd say: you have a hell of a lot more to gain from dealing with us, in the civilized world, than we have to gain from dealing with you. You have much more to learn from us, than the very little we need to learn from you. I include America, Canada, Australia, Europe and China, Japan and Korea in the advanced civilized world.  

 

People in advanced technical countries have built economies and lives for our citizens that are vastly superior to the **** holes in the Third World....like Iraq.  Our countries are vastly superior to yours. We are better than you. Don't kid yourself about that. Don't be proud to live in a shithole. Be humble. Learn from others. Japan and China followed that path and now the student often surpasses the Master..... You need to look up to us in advanced countries....including Japan and China and Korea now.. Don't think we need to look up to you. Wrong........we don't, that's backwards. At the same time: We do not look down on you, as you have great potential and a glorious past that shows tremendous potential. But we wonder: will you piss all your one time wealth away?... I think of the Biblical parable of the talents......Will you throw away what God has given you? So far the fools that lead Iraq are doing just that. The world wants to do business with you, joint ventures that could build a wealthy Arab and Kurdish country in Iraq....with wonderful lives for your children. The question is: are your leaders too stupid, too corrupt, too greedy,  too mired in historic grievances, to take this opportunity, to take this olive branch?

 

I'd say it's time for the young people of Iraq to kick the tired old leaders in the ass.....

 

In a few decades the civilized world won't need your oil. Our great scientists will come up with an alternative. There are two Tesla electric cars parked on my street now. Soon they will be common. Then you will have nothing. Face it:  You don't have the capacity to build an advanced civilization without the aid of highly technical countries like Germany, China or America. Will Iraqis continue to be complete stupid fools, as chronicled on this chat? I have no idea. That's up to the Iraqi young people, to fight for what they want in their future. It's their life, not mine. It's their country, not mine. 

 

There are places in the Arab world that are rich and successful. The leaders in successful Muslim countries  have been wise with their trusted oil windfall. My brother in law is a petrochemical engineer who tells me of a few really high quality places in the Arab world. Yet I read daily of the stupidity of the Iraq elite on this site. Dear Iraqi: you can blame America if you like, but the truth is, the fool is in the mirror. We offer you great riches, far exceeding anything in your history, and your leaders throw it away on obscure religious squabbles, petty stupidity, greed and corruption.

 

The leaders of Iraq should have their heads examined by a psychiatrist.👴

 

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The dinar will float to 3000-4000dinars/dollar due to low oil price. When Iraq decides to diversify their investments instead of relying on oil, then just maybe the dinar will increase in value n hopefully will continue to do so, provided no corruptions and any other means of entities that ruin its progress.

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   On 7/17/2019 at 8:35 PM,  navira said: 

Lol bro...let's go 380 pennies per dinar...let's go haha

 

57 minutes ago, navira said:

The dinar will float to 3000-4000dinars/dollar due to low oil price. When Iraq decides to diversify their investments instead of relying on oil, then just maybe the dinar will increase in value n hopefully will continue to do so, provided no corruptions and any other means of entities that ruin its progress.

 

Wait - Isn’t 4,000 Dinars Per Dollar Going In The Opposite Direction Of The Dinar Being Worth 380 Pennies ? :o 

 

 

And I’m Pretty Sure That A ‘No Corruption’ Disclaimer Is Null And Void When Discussing The Middle East... :bananacamel:

 

:D  :D  :D 

 

 

Wuzzup Bro ! :cheesehead:

 

:lmao:  :lmao: 

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1 hour ago, Kenny_Logins said:

There are so many factors aligning that it's hard to believe it's by chance.


:o 

 

Jim Carrey Chance GIF
 
:D  :D  :D 
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7 minutes ago, DinarThug said:
   On 7/17/2019 at 8:35 PM,  navira said: 

Lol bro...let's go 380 pennies per dinar...let's go haha

 

 

Wait - Isn’t 4,000 Dinars Per Dollar Going In The Opposite Direction Of The Dinar Being Worth 380 Pennies ? :o 

 

 

And I’m Pretty Sure That A ‘No Corruption’ Disclaimer Is Null And Void When Discussing The Middle East... :bananacamel:

 

:D  :D  :D 

 

 

Wuzzup Bro ! :cheesehead:

 

:lmao:  :lmao: 

Thanks Thuggie for all the news today, something gonna give. And thanks for the cliff notes version you are the best.

##Thuggiegroopie 

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3 hours ago, gregp said:

Great news Thugs!!

Now let’s go find some hotties!!!:eek:

:D


With Size 22 Clown Shoes - The Hotties Come And Find Me ! :o 

 

FB5AD0ED-13E8-4594-BC6C-E2BB9B984E55.thumb.png.8db4f1b82076a77f532b2db830efe197.png

 

But That Cotton Candy Hair Is Definitely A Tasteful Classy Touch ...

 

:D  :D  :D 

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2 hours ago, DinarThug said:
   On 7/17/2019 at 8:35 PM,  navira said: 

Lol bro...let's go 380 pennies per dinar...let's go haha

 

 

Wait - Isn’t 4,000 Dinars Per Dollar Going In The Opposite Direction Of The Dinar Being Worth 380 Pennies ? :o 

 

 

And I’m Pretty Sure That A ‘No Corruption’ Disclaimer Is Null And Void When Discussing The Middle East... :bananacamel:

 

:D  :D  :D 

 

 

Wuzzup Bro ! :cheesehead:

 

:lmao:  :lmao: 

Hey bro....cant  go anywhere much. Things are on a lock down. Hopefully when i get back home, the dinar will be at 380 pennies per dinar,lol

Edited by navira
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I am waiting for it to hit a point where you see some insider dumping the USD. When that happens you know we are really close. 

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  Electronic payment tools
 
19406.jpg
 
 11/03/2020
 
Suha Alkafaie
 

Suha Alkafaie 


It is known that the Prime Minister decided on 29/5/2018 to launch the project of localization of salaries and electronic taxation, with several goals, the most important of which is the advancement of the Iraqi economy and the achievement of additional revenues for oil revenues, but how is this achieved? And activating the work of various economic sectors such as industry and agriculture, which are two rivers They are not depleted, in addition to other sectors and their big role, such as the transportation and tourism sectors, etc.
What is the relationship of salary settlement with this goal, and what are the mechanisms to achieve these goals, which the government, the private sector and the international community and every Iraqi are seeking and aspiring for ?, and this is a distant strategic goal that should be under the eyes of the Ministry of Planning in measuring the extent of success achieved and adjusting its paths, if it deviates from His goals.
It also extends to the reduction of rampant corruption, as a result of relying on automated devices to pay money from any citizen such as the POS (electronic payment points), as it eliminates intermediaries, users, and bribes. 
Another very important organizational goal is to preserve government, private sector, and citizen funds. How (in practice) is this achieved?
These major goals I will try to explain in a series of articles by examining the mechanisms and practical examples with a simple explanation for each case, but it is accurate and coherent.
Providing an international electronic (salary card) for the employee is the first spark for all of these goals, as the salary has another added value when he entered the electronic card. Debit card only as it will provide a bank account that will organize and significantly change the life of the employee and from many sides and will work on: 
First: Regulating citizen's disbursements, and for its name:
1 - First organization:
 (Citizen's repayments) So organizing the individual's daily financial life with his various payments, the card or bank account will contribute to reducing the time, effort and money spent to sustain his daily life, as he can agree with the bank to pay fees, taxes and fines through an agreement with the bank, and deduct and pay at the end of each month to the concerned authorities from the bank his account or through the use of payment by telephone tools, and no need to go to any point of asking him to pay, exposure to the loss of time in the transport and exchange on the transport and effort, and in this case 
 will contribute to the bank in organizing money and government ministries on the one hand, where he will enter a Bank is also in favor of the government ministries.
2- The purchase or purchase associated with the transportation of large commodities. He can buy a refrigerator, for example, through the website of any Iraqi company that offers its services and delivers the refrigerator to the house. As a result, he will keep his salary from deficiencies that drain his salary and be forced to pay it.
3 - Buying from stores, restaurants, markets, pharmacies, laboratories wages ... and others, through the POS payment point device will not pay higher than the price set for it, and this device does not deduct a commission from the buyer, as he will buy at the specified prices, so the Iraqi citizen will pay money without users and intermediaries Bribes and without delay and queuing through the POS payment devices, which will be installed for the private sector and government ministries later when launching the electronic tax project, also will get rid of the deficiency, the forger, the ripper, theft, loss, and many other life examples, on the other hand, its various payments will lead to positive results for healthier Business and private sector companies, on the other hand.
4 - The citizen will be able to apply for financing for the purchase of a residence or a car, and pay his dues upon deduction monthly.
5 - Banks will provide various services to meet the employee's necessary needs, which contribute to the development of his life, such as installing solar energy systems in his home in installments, which will provide him with money and reduce his payments to the owners of generators and give him a working system for free energy sources.
7 - He will be provided with various privileges and discounts in order to benefit from his bank account, such as discounted travel packages, travel and insurance card group points, and other services.
8 - It will provide him with the possibility to enter a new income for him through (a partnership contract) in Islamic banks with any of his relatives, by entering into a project that provides his salary card as a guarantee to provide financing for a small project, and he can benefit from the owner of the project, who has to manage and succeed the project.

 

http://economy-news.net/content.php?id=19268

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13 hours ago, DinarThug said:
   On 7/17/2019 at 8:35 PM,  navira said: 

Lol bro...let's go 380 pennies per dinar...let's go haha

 

 

Wait - Isn’t 4,000 Dinars Per Dollar Going In The Opposite Direction Of The Dinar Being Worth 380 Pennies ? :o 

 

 

 

Dont "pump" his brakes. 

 

 

Edited by justchecking123

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Parliamentary weights over the selection of a prime minister
during the next two days

 

%D8%AA%D9%8A%D8%A7%D8%B1-%D8%A7%D9%84%D8
 
 
09:46 - 11/03/2020
 
 

On Wednesday, the deputy of the al-Hikma Movement, Salem Thameer Al-Tufeeli, said that the next two days would witness the nomination of a new head of government, confirming that the name of Prime Minister Adel Abdel-Mahdi had been proposed for a new assignment.

Al-Tufayli said in a statement that I followed / information /, that "meetings are continuing between the political blocs to resolve the assignment of a new prime minister, whether from the old names or a new name," noting that "one of the blocs proposed to assign the name of the resigned prime minister, Adel Abdul-Mahdi again."

Tufaili added that "there are objections to Abdel-Mahdi because of the protesters' refusal of him," stressing that "the re-assignment of Abdel-Mahdi may increase the severity of the current crisis."

Al-Tufayli revealed that "the next two days may witness a vote on a candidate," referring to "the intention of the political blocs to complete the file as soon as possible." 

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Parliamentary Finance: The emergency budget is limited to paying salaries and conducting elections only

 

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11th March, 2020

 


The Parliamentary Finance Committee confirmed, on Wednesday, that the emergency budget is limited to paying the salaries of employees and creating conditions for early elections.

A member of the committee, Deputy Muhammad al-Darraji, said that "Iraq needs an appropriate budget for the economic and health circumstance the country is going through," noting that "the emergency budget is limited to paying the salaries of employees, which is the most important and creating the conditions for holding elections." Daraji added, "Even if the budget is announced on the 1st to 12th, the country will face difficulties due to the current circumstances."

The financial advisor to the Prime Minister, Mazhar Mohamed Saleh, had previously stressed the need to go in the short term to legislate an emergency budget, which provides financial sustainability at this stage and meets the necessary needs. Saleh said that the drop in oil prices to less than $ 30 for a non-short-term period means, of course, dealing with a major financial-economic shock based on the absence of important sovereign resources and depriving the public budget of them, taking into account that the country's budgets depend 92% on oil revenues. 

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