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The Prime Minister's Advisor Reveals Budget Proposals And Naming The Negotiating Delegation With America !


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CNN. Broadcasting The Promotion Of The ‘General’ Budget Law From A Colonel !
 

 

The prime minister's advisor reveals budget proposals and naming the negotiating delegation with America


Tuesday 21 April 2020 - 18:01

 

Baghdad - conscious - Nassar al-Hajj

 


Advisor to the Prime Minister Abdel-Hussein Al-Hanin announced the preparation of a new draft of the General Budget Law, which includes proposals related to reducing waste and controlling expenditures, and while he pointed to the success of the current government in activating the various sectors, revealed the naming of the Iraqi delegation negotiating with the American side on rearranging the relationship and withdrawal.
Al-Hanin said in an interview with the Iraqi News Agency (conscious) today, Tuesday: "The team assigned by the prime minister prepared a new model for the general budget law for the current year, and for the first time that the price of oil was approved at two prices, fixed and mobile," noting that the proposed oil price in the budget It is estimated at 30 dollars, and it has become much less than the previous budgets according to the changes. "He added that" the fixed price in preparing the budget will cover salaries and basics, the purchase of medicines, the ration card and energy issues, in addition to other obligations. "
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Budget proposals
He explained that "many proposals were included in the budget law, which will be submitted to the Council of Ministers for a vote, and then sent to the House of Representatives, among which is the prevention of charging more than one salary and choosing the person concerned in choosing who deems appropriate, as well as cutting off allocations that were not covered by law."
And that "the other proposals included in the budget law are setting a fixed ladder with the highest ceiling for salaries for all groups, starting from the presidencies (Republic, Ministers, Representatives) provided that it is from 5 to 6 million as a higher ceiling, then it starts down according to the job hierarchy, in return, The agreement in principle to stop the repayment of the loans owed by the employee to the state-owned banks, as well as the housing fund until the improvement of the financial situation and the return of market activity, and this may require a year or two or more with the possibility of amortization of debts if necessary.
 
Budget deficit
Al-Hanin noted that the expected deficit in the fixed part of the budget law for the current year is estimated at 20 trillion, which will be variable with the possibility of covering it from the variable price prepared in the budget law, which will also have a role in completing the stalled projects, developing the health system, building hospitals, schools, etc. Among the important projects, Al-Hanin pointed to the existence of allocations related to private laws, such as the law of university service, which requires changing an amendment of laws and legislation in Parliament. And that all successive governments before 2003 and beyond were mainly dependent on one resource that was completed. Throw in oil, which always gives a state comfort in times of abundance and opens the way for calls to increase salaries and allocations and launch opportunities for appointment, which has had an effect on the country's strange inflation.
 
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Economic reform 
He explained that "Prime Minister Adel Abdul Mahdi developed a vision in his government program, based on foundations in the development of the agricultural and industrial sectors as well as the energy sector., And the first year was expressing a clear growth in all sectors and this was published in the government achievement report in numbers and in the names of projects where the percentage exceeded The success of the government program is an average of 76%, which is a very high rate, and the most important thing is that the government put a ruler for measurement and accountability, but those who fear the government’s success resorted to slogans and pitting the street, and they succeeded in doing so, paralyzing all the productive activities almost completely. Al Hanin pointed out that the rate of growth in Iraq Increased by 6 percent b The reason for the support provided by the government of Abdul Mahdi to the agricultural sector and productive sectors, stressing that the cultivated area is estimated at 17 million acres, with plans to increase it to 20 million.
He pointed out that there are factors that encouraged farmers through the model (support to production outputs), including the payment of their dues and the marketing of crops at high prices, which gave in return to the expansion of agricultural areas, which contributed to providing food storage in light of the Corona crisis and the distribution of some ration card items from local production, For example, more than 5 million tons of wheat were marketed last season and there are record rates for rice production as production has increased 13 times and the matter applies to the rest of the crops, and it is expected that this year will increase due to the availability of confidence in farmers to receive remunerative funds in exchange for their production that made food security Clear The experience of the embargo due to the Corona epidemic was a practical demonstration of the importance of local agricultural production, as the borders were closed and import was almost completely banned. Regarding the reactivation of factories, Al-Hanin pointed to the importance of eliminating bureaucracy and activating the role of partnership with the private sector and providing facilities for Iraqi investors, especially entering negotiations to sell stalled factories to Iraqi citizens through internal public subscription or any other useful method at a promotional price provided it is restarted with the same prepared energy And employing local manpower, "pointing out that eliminating armed manifestations comes from economic reform and providing manpower that will eliminate this phenomenon, as well as reducing and reducing crimes and robberies, which have decreased significantly in The current government head after the activation of some sectors.
And that the current government has succeeded in improving the increase in electrical energy by more than 25% and reducing the programmed parts on the citizens. In some regions, especially Basra, it has reached its continuity over 24 hours. The electric energy production last summer reached more than 19,000 megawatts. The plan was To be equipped this year with a rate close to 21000 MW, and the situation of the transportation and distribution network that has been suffering from long years of failure to drain the produced energy has been improved.
 
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Demonstration file
He pointed out that the demonstrations that started in the beginning of last October, were intended to be launched from Basra under the pretext of exploiting the power outages and the lack of water, now this plan has been foiled after the government's success in increasing energy supply over 24 hours in addition to providing drinking water to be transferred to Plan B by launching it in other governorates, "stressing that the demonstrations, despite the existence of legitimate demands in the search for job opportunities and fighting corruption, but have stalled the work of the state for more than seven months." He indicated that Prime Minister Adel Abdul Mahdi has worked since he assumed the presidency The government fixes many aspects, including selection Position of the contract to pay the financial dues by efficiency, and accomplish tasks, "noting that the majority of employees in the state are paid much higher salaries than the size of the output provided.
 
Iraq debt
He added that Iraq’s external debt is estimated at 23 billion dollars, distributed between the World Bank, the International Monetary Fund, the JICA, Kuwait’s compensation, and the rest of the Paris Club’s debts, in addition to other countries, in addition to the internal debts that will not pose any risk.
Al-Hanin stressed that Iraq started its negotiations with oil companies before the Corona crisis in order to reduce the amounts that constitute the operational costs of licensing round projects, which are estimated annually at 11 billion dollars. It is reasonable to pay the companies without production. He explained that Iraq’s commitment to the decision to reduce is dependent on the commitment of all countries to the stipulated shares and the rate of reduction. Ana and satiety oil inventories, particularly India
And the file of transferring the sale of black oil to the Oil Marketing Company (SOMO) may be the most important decision that stood to reduce corruption, as such a decision is to return about one billion dollars to the state treasury, and this file may be added to it referring senior officials to integrity (about 100 files) It may be a direct reason to provoke the vengeance of many politicians against Adel Abdel Mahdi and direct media and space channels owned by corrupt people to stir up public opinion and create discontent against the government.
 
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Gas investment
On investing gas, Al-Hanin stressed that the actual need for Iraq from the gas is estimated at 5500 mqqat, the majority of which will be for operating electric power stations to increase production efficiency, as well as to reduce spending on maintenance as well as gas licenses as well as strengthening Iraq’s sovereign position in this vital aspect, noting The investment of Iraqi gas according to the existing contracts and plans will not exceed its capacity (3500) suppressed, which means that Iraq will still need about (2000) suppressed in order to meet the local need of gas. He indicated that Iraq will have to import gas from Iran, Qatar or Russia Or any country in the world to cover the local need, weighted Invest all Iraqi gas through Centen.oaguetrah Hinan, that Iraq opens its doors to the world , whether Russian or Iranian gas or Qatar, through D pipeline through  its territory to Europe.
e1334dd25e14fe6ef08d36ece2f22a7c51843.jp
 
Strategic dialogue with Washington
Al-Hanin pointed out that the American side agreed in practice to see the Prime Minister in the redeployment and withdrawal. "He added that the message received by the Iraqi government includes the opening of a strategic dialogue in next June, pointing out that the government named the Iraqi negotiating delegation, which will be headed by the Undersecretary of the Ministry of Foreign Affairs and representatives of the army. National Security, Intelligence, Intelligence, and others concerned with this file. "He explained that" the last American message was referring to the redeployment of their forces out of Iraq, "stressing that" Iraq wants to build balanced relations with all countries and did not allow its lands to be used as a springboard to threaten countries. "
 
Partial ban
He pointed out that "the decision to lift the partial ban came based on the estimates of experts, including experts from the World Health Organization and specialists in epidemics," stressing that there is a periodic review of the decision to lift the partial ban and will take decisions according to developments related to the epidemiological situation.
 
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Advisor to the Prime Minister: Preparing a new draft of the budget .. This is what it contains regarding allocations and the price of oil

21/04/2020

 
image
 
 

 

Baghdad - Mawazine News
, Adviser to the Prime Minister Abdul Hussein Al-Hanin announced preparing a new draft of the general budget law that includes proposals related to reducing waste and controlling expenditures, while pointing to the success of the current government in activating the various sectors.
Al Hanin said, according to the official agency, that "the team assigned by the Prime Minister prepared a new model for the general budget law for the current year, and for the first time in which the price of oil was approved at two fixed and mobile prices," noting that the proposed oil price in the budget is estimated at 30 dollars, and it has become much less than budgets. The previous according to the changes. "He added that" the fixed price in preparing the budget will cover salaries and basics, the purchase of medicines, the ration card and energy issues, in addition to other obligations. "
He explained that "many proposals were included in the budget law, which will be submitted to the Council of Ministers for a vote, and then sent to the House of Representatives, among which is the prevention of charging more than one salary and choosing the person concerned in choosing who deems appropriate, as well as cutting off allocations that were not covered by law."
And that "the other proposals included in the budget law are setting a fixed ladder with the highest salary ceiling for all groups, starting from the presidencies (the republic, ministers, deputies) provided that it is from 5 to 6 million as a higher ceiling, then it starts down according to the job hierarchy, in return, The agreement in principle to stop paying the loans owed by the employee to the state-owned banks, as well as the housing fund until the improvement of the financial situation and the return of market activity, and this may require a year or two or more with the possibility of amortization of debts if necessary.
 Al-Hanin noted that the expected deficit in the fixed part of the budget law for the current year is estimated at 20 trillion, which will be variable with the possibility of covering it from the variable price prepared in the budget law, which will also have a role in completing the stalled projects, developing the health system, building hospitals, schools, etc. Important projects.
Al-Hanin pointed to the existence of allocations related to special laws, such as the University Service Law, whose change requires amendment of laws and legislation in Parliament, and that all successive governments prior to 2003 and beyond were mainly dependent on one resource represented by oil, which always gives the state a comfort in Times of abundance give way to calls to increase salaries and allocations and launch opportunities for appointment, which has had an impact on the country's inflation strangely. "Ended 29 / h

 

https://www.mawazin.net/Details.aspx?jimare=96543

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Thx Mary ! ;) 

 

:D  :D  :D 

 

 

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Parliament Presidency discusses the economic crisis with
the Ministerial Council for the Economy

 

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17:04 - 04/21/2020
 
 

The first deputy speaker of the House of Representatives, Hassan Karim Al-Kaabi, discussed with the Ministerial Council of Economy on Tuesday the governmental measures to tackle the economic crisis caused by the drop in oil prices in global markets and the repercussions of the global corona pandemic.

In a statement received by Al-Maalouma, Al-Kaabi’s office said, “Hassan Karim Al-Kaabi, the first deputy speaker of the House of Representatives, met the head of the Parliamentary Finance Committee, Haitham Al-Jabouri, Abdul Karim Al-Faisal, head of the Council of Ministers’s Advisers, a member of the Ministerial Council for Economy, and a number of consultants in the office.”

During the meeting, they discussed the proposals and the maturity of some opinions regarding dealing with the economic crisis, leading to the participation of the House of Representatives in the event that a legal and legislative cover for these reform measures is required.

Al-Kaabi said that "all countries of the world are currently facing the same enemies represented by the economic crisis and facing the pandemic of Corna, and this requires everyone to join hands, in order to get out of these crises."

He continued, "Crises, despite their negative effects and their repercussions on the individual, society and the country as a whole, but it could be the best opportunity to carry out reforms and develop solutions to problems, and find alternatives to maximize resources and revitalize important economic sectors, but were absent for certain reasons." 

######

Parliament and the Ministerial Council for Economy are discussing reform measures to overcome the economic crisis     
LINK

 

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Parliamentary Finance: External borrowing is subject to
approval by Parliament


16190.jpg

 

21st April, 2020

 

The Parliamentary Finance Committee said on Tuesday that the government's approach to external borrowing needs the approval of the House of Representatives

Member of the Committee, MP Ahmed Al-Saffar said in a statement reported by the official news agency "Waaa" and viewed by "Al-Iqtisad News", that "the government cannot resort to external borrowing without obtaining the approval of the House of Representatives," noting that "Parliament has already voted to prevent Borrowing from abroad until the old debts incurred by Iraq are paid

He added that "foreign loans have a very high financial benefit rate, especially since most loans are used for consumption and not for investment, which means that the government is unable to return them to pay them back

He explained that "financial spending in the country reached a high level in the past month due to some measures taken by the government," noting that "salaries need about 3 and a half billion dollars a month, while sales of oil per month do not exceed two and a half billion dollars

He continued, "The government can resort to internal borrowing from banks and giant companies to meet financial expenditures in light of the current crisis," noting that "the great countries in the period of crisis offer financial bonds with good interest rates to the market and then buy them again when the crisis ends

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19 minutes ago, Mary B said:

The central bank is preparing to lend to the government to secure employee salaries

 04/21/2020
 
  
%D8%B1%D9%88%D8%A7%D8%AA%D8%A87-696x387.

Information / private ...

The Parliamentary Economic Committee confirmed, on Tuesday, that the Central Bank of Iraq is ready to loan the government to secure employee salaries in the event of continued collapse in oil prices.

The committee member, Mithaq Al-Hamdi, said in a statement to "Information", that "the central bank informed the parliament economic and investment committee of its willingness to provide financial loans to the government for investment projects and secure employee salaries," pointing out that "the central bank is able to fully secure employee salaries."

She added that "the reserve of funds in the central bank is good and can be used for internal loans," noting that "the government does not intend to go towards compulsory savings at the present time and may resort to it at the end of this year if the global oil price collapse continues."

US crude futures for May delivery returned to decline again in today's trading, as it fell to a level below zero. It ended 25 T.

 

https://www.almaalomah.com/2020/04/21/469885/

 

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The central bank is preparing to lend to the government
to secure employee salaries

 

%D8%B1%D9%88%D8%A7%D8%AA%D8%A87-696x387.
 
 
 
17:09 - 04/21/2020
 
 

The Parliamentary Economic Committee confirmed, on Tuesday, that the Central Bank of Iraq is ready to loan the government to secure employee salaries in the event of continued collapse in oil prices.

The committee member, Mithaq Al-Hamdi, said in a statement to "Information", that "the central bank informed the parliament economic and investment committee of its willingness to provide financial loans to the government for investment projects and secure employee salaries," pointing out that "the central bank is able to fully secure employee salaries."

She added that "the reserve of funds in the central bank is good and can be used for internal loans," noting that "the government does not intend to go towards compulsory savings at the present time and may resort to it at the end of this year if the global oil price collapse continues."

US crude futures for May delivery returned to decline again in today's trading, as it fell to a level below zero. 

 

#########


In a serious development ... the central bank is preparing to lend to the government to secure employee salaries 

 LINK  

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Iraqi public budget between the series of failures and losses of billions!

 

- One Hour Passed
 
 
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Researcher Shatha Khalil *

 

The general budget represents the legal document of the government's directives and its economic and social goals that it intends to achieve during the fiscal year, and it is the backbone of government accounting, and in the light of legislation of a financial nature such as the Financial Management and Public Debt Law No. 95 of 2004. 

The general budget of the Iraqi state has several failures, including a difference in The deadline for sending it to the House of Representatives, the failure to apply the rule of its unity, the lack of commitment to its annualism, the shortcomings in planning and preparing it, the conflict between the orientation towards international accounting standards and the accounting basis used under the legislation, and the lack of Financial reporting about it, and the results of its implementation, all these barriers hinder the proper implementation of the budget role in all its four stages, "the stage of preparation and preparation, the stage of approval and the stage of implementation, the stage of control over it."

Here, I would like to focus on two important points that open the doors of corruption in the state's general budget:

The first: foreign aid and external financing that the state receives and that does not enter the budget. For example, all US aid is contracts that the US embassy in Baghdad enters into with American companies, while aid is supposed to be deposited in two funds of the United Nations, and it becomes a public revenue for the state that enters to its budget even if its spending is restricted by certain considerations, and this is what is followed in the budgets of Arab and non-Arab countries receiving foreign financing, but the Iraqi budget for 2004 did not include foreign aid in its revenues of $ 12.8 billion of them About $ 12 billion in oil, then imagine the amount of external financing from that time to today. Where did it go? To the pockets of the corrupt or to the reconstruction and development plans?
Other budgets will follow this same path, then violate the general rule, deny the transparency of revenues and expenditures, and open the doors wide to the manipulation of public funds, bearing in mind that such aid is not free donations but rather loans on concessional terms that the state’s finance must later pay off the debts or investments granted to companies Foreign company that captured the Iraqi market.

The second: Ignoring the issue of employment (i.e. employing workers who are of working age and are able to work and do not find work opportunities) in the public budget, especially since Iraq is one of the young countries (rich in human resources from the younger generation), a tool that strongly and negatively affects the sectors Economic and social strata.
It is the annual economic and social policy of the state, nothing in the budget shows how to use this tool, and it was necessary to put some general principles to address the unemployment crisis, for example, that Iraq suffers from very high rates of unemployment of not less than half the number of those who are able to work, which is one of the rare rates Even in the poorest countries of the world, the seriousness of this crisis requires a constitutional text that indicates at least the need to make efforts to address it.
“The constitution is a step backward with regard to work and employment and the state’s responsibility to improve the level of workers.”
There is no doubt that constitutional article 22 states that “work is a right for all Iraqis in a way that guarantees them a decent life.” But this formulation quoted from the Declaration of Human Rights is devoid of binding elements of the authorities. The general public is to improve the level of employment, while there are other provisions that provide compulsion when it comes to forming unions, encouraging investments, and the freedom of movement of goods and capital.

Rentier budget:
Iraq is one of the oil producing and exporting countries that depend mainly on unstable oil revenues to form national income, as oil revenues accounted for about 95% of public budget revenues during previous years, and this makes the Iraqi economy a dependency on the global economy and the repercussions of its repeated crises Because the Iraqi economy is in the event of a rentier economy, it depends mainly on the production and export of crude oil, and this makes the general budget of Iraq heavily affected by a decrease in oil prices, which often requires strengthening the budget with a supplementary budget to fill the deficit that arises from which may be large sums of money, which makes the process of activating the income of non - oil sources.
Today, Iraq is losing tens of billions and is marching towards the unknown due to low oil prices due to the Russian-Saudi dispute and the lack of agreement of the Organization of Petroleum Exporting Countries "OPEC" and Russia to cut production.
As Iraqi oil expert Issam Chalabi stressed that Iraq had set the price of a barrel of oil at 56 dollars per barrel for the current year 2020, but "Iraqi oil will be within the levels of these days, with limits not exceeding 25 dollars per barrel", which means "we are facing a decline A large oil revenue could reach tens of billions.

And Russia's breach of its agreement with OPEC to cut oil production prompted a Saudi move and flooded the market, causing a sharp drop in prices and recording the largest daily decline in nearly three decades.
The OPEC meeting ended last week without reaching an agreement on the amount of production cut proposed by Saudi Arabia, which was up to one and a half million barrels per day of the organization's production, so that the spread of the virus does not undermine what was reached in 2017 To maintain stable prices in a market with surplus production, Russia refused.
"The dispute prompted Saudi Arabia to take two main steps, the first of which is to increase its current production rates by more than 9 million barrels per day to reach more than 10 million barrels, and it may reach 12 million barrels per day."
The second step taken by Saudi Arabia is to offer its oil in the Asian markets at prices 6 to 8 dollars lower than the prices prevailing at the time.
The two countries - Saudi Arabia and Russia - expressed their willingness to "take any additional measures in partnership with the member states of the OPEC + agreement and other producers, if it seems necessary to do so," in addition to their confidence that "the partners in the OPEC + agreement and other producers will maintain their obligations."
The "OPEC +" group reached an agreement to reduce oil production by 9.7 million barrels per day starting from early May next, which aims to "OPEC +" decision to support oil prices after the dispute that broke out between Saudi Arabia and Russia, in addition to the decline in demand for oil in light of Corona virus outbreak emerging.

The effects of the reduction on Iraq:
In light of this decline, Iraq will continue to receive economic strikes and tremors, due to its inability to at least cover the operational budget for 2020, which will compel it to search for creditors to borrow from abroad or home despite its negative effects.
This, in turn, will lead to an unstoppable political economic chaos, as the global crisis of oil prices has fallen to less than $ 30 a barrel, and a contraction in the rate of oil demand has exceeded 8% and a surplus in competition from the exporting countries. It is expected that oil prices will continue to decline globally, especially The world is in an industrial recession because of the spread of the Coruna virus.
Here, and in particular, on Iraq, which has no room to compensate for these lost amounts due to the low prices that had been calculated by the 2020 budget on the price of $ 56 oil, which means a significant decrease in oil revenues that may reach tens of billions.

The loss of a large amount of oil revenues for Iraq will greatly affect the provision of salaries, services, medicines, and food, and the stagnation of the industry, which is an economy that already suffers in all its sectors from an investment development collapse at a time when the country needs all the available funds to face the emergence of the emerging Corona virus and the country needs to be returned Building to get rid of all forms of corruption that ripped him without mercy.
It is worth noting that the reserve in Iraq amounts to about $ 30 billion, more than half of which is invested in American treasury bonds. "Resorting to the remaining financial reserves is considered a serious risk, because of this effect on the price of the dinar against the dollar, which will lead to Creating chaos inside the local markets. 

Where the direct and major impact will be on the operational budget, especially since there is not already an investment budget in Iraq, and in particular the provision of salaries to the 7 million employees who receive monthly cash from the Iraqi government, unless the state takes measures to borrow internally or externally. This solution also needs time to implement it.
"Iraq's net income after the decline in oil prices decreased by 65% in 2020, compared to last year, causing a monthly deficit of $ 4 billion dedicated solely to paying salaries and maintaining government business continuity."
The situation in Iraq is tragic "especially as it is going through critical political conditions as a result of the political blocs’ demands for positions, and the failure to form a government that meets the demands of the people. ”The only solution is to radically change the political process in Iraq and seriously consider the Iraqi economy and change the way the state is managed in a proper way. The capabilities and value of Iraq.

Economic Studies Unit,
Links Center for Research and Strategic Studies

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The Prime Minister's advisor reveals the budget proposals and naming the negotiating delegation with Washington

 

The Prime Minister's advisor reveals the budget proposals and naming the negotiating delegation with Washington

 

 

 

Advisor to the Prime Minister Abdel-Hussein Al-Hanin announced the preparation of a new draft of the General Budget Law, while revealing the naming of the Iraqi delegation negotiating with the American side on rearranging the relationship and withdrawal.

"The team assigned by the prime minister prepared a new model for the general budget law for the current year, and for the first time it approved the price of oil at two fixed, fixed prices," Al-Hanin said, noting that the proposed oil price in the budget is estimated at 30 dollars, and it has become much less than Previous budgets according to the variables. ”
He added that“ the fixed price in preparing the budget will cover salaries and basics, purchase of medicines, ration card and energy issues, in addition to other obligations. ”

He explained that "many proposals were included in the budget law, which will be submitted to the Council of Ministers for a vote, and then sent to the House of Representatives, among which is the prevention of charging more than one salary and choosing the person concerned in choosing who deems appropriate, as well as cutting off the allocations that were not covered by law."

And that "the other proposals included in the budget law are setting a fixed ladder at the highest salary ceiling for all groups, starting from the presidencies (the republic, ministers, deputies) provided that it is from 5 to 6 million as a higher ceiling, then it starts down according to the job hierarchy. The agreement in principle to stop paying the loans owed by the employee to the state-owned banks, as well as the housing fund until the improvement of the financial situation and the return of market activity, and this may require a year or two or more with the possibility of amortization of debts if necessary.
 
Budget deficit
and Al-Hanin noted that the expected deficit in the fixed part of the budget law for the current year is estimated at 20 trillion, which will be variable with the possibility of covering it from the variable price prepared in the budget law, which will also have a role in completing discontinued projects, developing the health system, building hospitals and developing roads Schools and other important projects.
Al-Hanin pointed to the existence of allocations related to special laws, such as the law of university service, whose change requires an amendment of laws and legislation in Parliament, noting that all governments that successively before and after 2003 were mainly dependent on one resource represented by oil, which always gives the state a comfort in Times of abundance open the way for calls to increase salaries and allocations and launch opportunities for appointment, which has had an impact on the country's inflation surprisingly.
 
Demonstration file
He cautioned that the demonstrations that started in the beginning of last October were intended to start from Basra under the pretext of exploiting the power outages and the lack of water, but this scheme has been foiled after the government's success in increasing energy supply over 24 hours in addition to providing drinking water to be transported To Plan (B) by launching it in other provinces, "stressing that the demonstrations, despite the existence of legitimate demands in the search for job opportunities and fighting corruption, but it hindered the work of the state for more than seven months."

He pointed out that Prime Minister Adel Abdul-Mahdi worked since he assumed the task of heading the government by reforming many aspects, including moving from job to contract by paying financial dues according to efficiency and completing tasks. He indicated that the majority of employees in the state receive far higher salaries than the amount of output provided.
 
Iraq debt
He added that Iraq’s external debt is estimated at 23 billion dollars, distributed between the World Bank, the International Monetary Fund, the JICA, Kuwait’s compensation, and the rest of the Paris Club’s debts, in addition to other countries, in addition to the internal debts that will not pose any risk.
Al-Hanin stressed that Iraq started its negotiations with oil companies before the Corona crisis in order to reduce the amounts that constitute the operational costs of licensing round projects, which are estimated annually at 11 billion dollars. It is reasonable to pay the companies without production. He explained that Iraq’s commitment to the decision to reduce is dependent on the commitment of all countries to the stipulated shares and the rate of reduction. Ana and satiety oil inventories, particularly India
And the file of transferring the sale of black oil to the Oil Marketing Company (SOMO) may constitute the most important decisions that stood to reduce corruption, as such a decision is to return about a billion dollars to the state’s public treasury, and this file may be added to it referring senior officials to integrity (about 100 files) It may be a direct reason to provoke the vengeance of many politicians against Adel Abdul-Mahdi and direct media and space channels owned by corrupt people to stir up public opinion and create discontent against the government.
 
A strategic dialogue with Washington, and Al-
Hanin indicated that the American side agreed in practice to see the prime minister in redeploying and withdrawing,
adding that the message that the Iraqi government received includes the opening of a strategic dialogue in next June, pointing out that the government named the Iraqi negotiating delegation that will be headed by an undersecretary The Ministry of Foreign Affairs and representatives of the army, national security, intelligence, intelligence, and others concerned with this file. "
He explained that "the last American message was referring to the redeployment of their forces out of Iraq," stressing that "Iraq wants to build balanced relations with all countries and did not allow its lands to be used as a springboard to threaten countries."

 

https://www.almirbad.com/detail/49431

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Son Of A Fitch ! :o 

 

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:D  :D  :D  

 

 

 

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Fitch Downgrades Outlook for Trade Bank of Iraq (TBI)

Fitch-Ratings.png
 

21st April, 2020


Fitch Ratings has revised the outlook for the Trade Bank of Iraq (TBI) from "Stable" to "Negative".

In a statement, it says that TBI's Issuer Default Rating (IDR)s are driven by the bank's Viability Rating (VR) and underpinned by potential sovereign support.

"The revision of the Outlook to Negative from Stable follows a similar action on the sovereign rating (see "Fitch Revises Outlook on Iraq to Negative; Affirms at 'B-'" on http://www.fitchratings.com).

"This reflects the impact of the decline in oil prices on Iraq's fiscal and external finances, near-term uncertainty concerning the sovereign's financing plan and limitations on policymakers' ability to respond to the fiscal crisis. Iraq's budget revenue sensitivity to oil price and volume is significant, given dependence on oil that accounts for 85%-90% of fiscal revenue.

"We forecast that the budget deficit will widen to 19% of GDP in 2020 and government debt/GDP to an average of 80% in 2020-2021, versus 47% in 2019.

"TBI's VR of 'b-' is constrained by the operating environment in Iraq, which is volatile and challenging, and where TBI generates 70% of its business volume (on- and off-balance sheet exposure).

"Therefore, the operating environment and broader country risks influence TBI's standalone risk profile. As a result, we see downside risks to the stability of TBI's business model, the ability of the bank to execute its strategy, as well as earnings, capitalisation and funding and liquidity relative to when we last reviewed TBI's ratings

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Al-Rafidain: Activating the Master Card for departments that received their salaries for the month of April electronically


Al-Rafidain: Activating the Master Card for departments that received their salaries for the month of April electronically
 

04/21/2020 09:04:26

 

 
Al-Rafidain Bank announced the activation of Master Cards for a number of state departments and receiving the salaries of its employees for the month of April for the first time through the electronic card.
 

The media office of the bank said in a statement received by the agency {Euphrates News} a copy of it, that “account managers of a number of departments addressed the general administration of the bank in order to activate their employees’ cards and pay their salaries electronically, and the bank took the necessary action as soon as possible.”

He called on “the directors of other departments’ accounts to follow the example of these departments and take steps to do so so that salaries are granted electronically in order to avoid dealing in paper money and rely on electronic trading.”

 

###########


Rafidain Bank Announces The Activation Of The Master Card For A Number Of State Departments   
LINK

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TRADE BANK OF IRAQ - the importance of e-payments and modern banking systems for the benefit of the Iraqi citizen


14991333_1594854070821439_90741945117141

 

20th April, 2020


Hosting Iraqi channel for Mr. Fouad agent - Vice President of the Iraqi trade bank

Talks about the importance of e-payments and modern banking systems for the benefit of the Iraqi citizen.

VIDEO LINK

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Al-Tamimi publishes the highest revenues for the Iraqi state and “evaporated” in al-Maliki's time



التميمي تنشر الإيرادات الأكثر ارتفاعا للدولة العراقية و” تبخرت” في زمن المالكي

 

Last updated: April 18, 2020 - 10:17 am

 

Baghdad / Iraq News Network -

 

Member of Parliamentary Finance Committee, Magda Al-Tamimi, published, on Saturday, figures for the most high years of actual state revenues in the time of Nuri al-Maliki.

Al-Tamimi said in a tweet on her “Twitter” that “the most high years of actual revenues are 2012, reaching 119.8 trillion, followed by 2013 with 113.8, and after 2011 108.8, and it comes in the fourth degree in 2014 when its revenues reached 105.3 trillion.”


By "hashtak" in which you mentioned "great revenues and a great waste", it is mentioned that these years are in the time of Nuri al-Maliki and his corrupt clique.[/size]

 

Untitled-43.jpg

 

LINK

 

Edited by DinarThug
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17 minutes ago, DinarThug said:

Al-Tamimi publishes the highest revenues for the Iraqi state and “evaporated” in al-Maliki's time



التميمي تنشر الإيرادات الأكثر ارتفاعا للدولة العراقية و” تبخرت” في زمن المالكي

 

Last updated: April 18, 2020 - 10:17 am

 

Baghdad / Iraq News Network -

 

Member of Parliamentary Finance Committee, Magda Al-Tamimi, published, on Saturday, figures for the most high years of actual state revenues in the time of Nuri al-Maliki.

Al-Tamimi said in a tweet on her “Twitter” that “the most high years of actual revenues are 2012, reaching 119.8 trillion, followed by 2013 with 113.8, and after 2011 108.8, and it comes in the fourth degree in 2014 when its revenues reached 105.3 trillion.”


By "hashtak" in which you mentioned "great revenues and a great waste", it is mentioned that these years are in the time of Nuri al-Maliki and his corrupt clique.[/size]

 

Untitled-43.jpg

 

LINK

 

Well so now that you have "proof" what is this new government goi g to do about it ?

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1 hour ago, DinarThug said:

Al-Tamimi publishes the highest revenues for the Iraqi state and “evaporated” in al-Maliki's time



التميمي تنشر الإيرادات الأكثر ارتفاعا للدولة العراقية و” تبخرت” في زمن المالكي

 

Last updated: April 18, 2020 - 10:17 am

 

Baghdad / Iraq News Network -

 

Member of Parliamentary Finance Committee, Magda Al-Tamimi, published, on Saturday, figures for the most high years of actual state revenues in the time of Nuri al-Maliki.

Al-Tamimi said in a tweet on her “Twitter” that “the most high years of actual revenues are 2012, reaching 119.8 trillion, followed by 2013 with 113.8, and after 2011 108.8, and it comes in the fourth degree in 2014 when its revenues reached 105.3 trillion.”


By "hashtak" in which you mentioned "great revenues and a great waste", it is mentioned that these years are in the time of Nuri al-Maliki and his corrupt clique.[/size]

 

Untitled-43.jpg

 

LINK

 

 

I could be wrong here, so please correct me if I am: I’m getting the feeling from this pic in the article, some folks ain’t so pleased with him and it would appear they’re sending him a message. 

 

Spank you very much He who wears interesting makeup.👄

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Al-Rafidain: Inclusion of employees of traffic in personal advances
 
19546.jpg
Traffic man in Baghdad. (AFP)
 
 
 

The Economy News - Baghdad

Rafidain Bank announced, on Tuesday, that the employees of the General Traffic Directorate include its formations in Al-Karkh and Al-Rusafa in personal advances.

The media office of the bank said in a statement seen by "Al-Iqtisad News", that it was "decided to include the employees of the General Traffic Directorate general headquarters in addition to the passage of Karkh and Rusafa to personal advances through an international Master Card."

He added that "employees of the traffic can apply for the advance through the electronic link."

 

Number of views 20   Add Date 04/08/2020

https://economy-news.net/content.php?id=21276

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