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23 hours ago, DinarThug said:

Comments Following From ‘Itsmedt’ And MilitiaMan ...

 

:D  :D  :D 

 

 

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The government intends to apply income tax to salaries and allowances, starting from the current month

 

2264.jpg

 

16th October, 2020

 

Informed political sources revealed that the government intends to issue a decision to apply the income tax law to the total salary since October

The Ministry of Finance imposes an income tax of 3% to 15% on the nominal salary of employees

The sources, who preferred not to be named, told Al-Iqtisad News that the government is directing a major crisis in providing liquidity to pay the salaries of employees, especially this month, noting that the salaries of this month are witnessing a large deficit after the government has exhausted internal loans and that oil revenues are not Enough for that

She noted that the application of the Income Tax Law on the total salary, not just the nominal salary, will give the government an amount of 600 billion dinars

The government applies an income tax from one dinar to 500,000 dinars at a rate of 3%, and if the salary is more than 500,000 to one million dinars, then the income tax is 5%, and if it is more than a million to 2 million, then 10% is applied, and if it is more than 2 million dinars, it applies. 15%

 

#####################################

 

 

Itsmedt: Don’t walk past this one. Income tax + a program rate= major civil unrest!

 

 

Exactly, there are many things showing up that equate to more pressure.

This would be one of them..

Putting taxes on them with out Purchasing Power?
That will not fly.. imo !~ MM

 

 - MilitiaMan

Keep upping the pressure on the streets to move Iraq closer to the people and further from Iran, and further from corrupt Iraqi factions. The brinkmanship just keeps building.

 

Combine the news that we have been getting since Iran attacked Iraq using cruise missiles to attack US troops--falling into the trap of showing Iraqi's that Iran will attack Iraqis, Iraqi soil and Iraqi sovereignty if they step out of line. Those existential threats are rarely forgotten!

 

Add these recent actions by Iran to the actions against Iran, such as all the economic tools being used against them, e.g., 18 Iranian banks being locked out of the financial markets and more Iraqi's will understand there are fewer options to move forward. Which 'winner' to back? And, for some, when to switch sides?

 

Now, the entire populace has just been taxed, people are going to be paying attention toward the State. The State's communication campaign will continue to spell out the ongoing threats to the nation, putting more pressure on the pro-Iranian factions of Iraqis. Add in the spiritual guidance from Al-Sistani beating an Iraqi nationalist drum. Add in the new relationships forming in the ME, particularly those that are warming to Israel and we continue to witness the painful rebirth of a once great nation!

 

I can't help rooting for Iraqis seeking a stable democratic government. Hopefully, our investment has somehow helped them.

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Parliamentary Finance clarifies the most prominent points to resolve the crisis between Baghdad and Erbil

 
20170113_153559.jpg
 
 
08:51 - 10/19/2020
 
 

The Parliamentary Finance Committee clarified the most important points necessary for resolving the financial dispute between the center and the region, pointing out that the situation needs to be settled and negotiated with oil companies, detailing the issue of border crossing revenues and legislating laws that serve both parties.

Committee member Jamal Ahmed told "the information", "The financial crisis between Baghdad and Erbil will be resolved through the inclusion of provisions for the two parties' agreement in the next year’s budget that includes their commitment to fulfill their duties in accordance with the law."

He added that "the solution to the crisis will be through the financial settlement between Baghdad and Erbil and ensure its validity in all future budgets, according to time limits for its solution."

He explained that "the solution to the revenue crisis of border crossings needs to be detailed between the two governments, while oil revenues need to legislate the oil and gas law and re-negotiate with companies operating within the region, as well as settle accounts on this file." 

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The most prominent agendas of Kazemi's European tour

 

image.jpeg.52f9d426446e97d0e870c77f3ceb79e4.jpeg

 

19th October, 2020


Advisor to the Prime Minister Hisham Daoud revealed the most prominent axes of Prime Minister Mustafa Al-Kazemi's European tour.

Daoud said in a televised statement, followed by Mawazine News, that "Al-Kazemi's visit to Europe has an economic aspect," stressing that "it is not possible to separate the large and high-level visits to the world without the economic aspect." He added, "There is global interest in Iraq, its role and its place, and there is also some appreciation for the government's credibility,"pointing out that "there are many calls for Iraq coming from Russia and many countries in Asia, America, Europe and many Arab countries." He continued, "The Governor of the Central Bank and the Minister of Finance and a number of senior economists within the delegation that left with the Prime Minister, to persuade European countries to put Iraq in the right place so that it can start growth and acceptable economic activity and openness to the world."

Daoud pointed out that "Iraq has been subjected to great weakness and siege for years, and the reasons were political and military." He explained, "The visit to Europe carries a political character in the first place, through the support of European countries to Iraq and the desire of Iraq to play its role in the region," noting that "the second content of the European visit is the economic aspect, and the metro will be discussed in Baghdad (the suspended metro) and the establishment of Airports in some provinces, as well as the agricultural side and the food industry." He stressed that "the nuclear issue with France has not been raised seriously for dialogue between the two countries," noting that "memoranda of understanding will be signed, and there are studies that have been conducted in the past on these projects."

Daoud indicated that "the prime minister requested additional studies for these projects, but there is a desire to deal with transportation problems and pollution in Baghdad," stressing that "the capital needs an internal and external underground metro, and we also need several airports." He added, "We have problems with cash liquidity and how to pay the cost of contracting with the outside world." He went on to say, "Our dealings with Europe are based on acceptable offers such as long-term soft loans that are paid in succession and at the same time we obtain technology," pointing out that "The Sixty Company is one of the leading companies in the world in the field of trains."

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The Governor of the Central Bank of Iraq, Mustafa Ghaleb, met his French counterpart within the framework of the visit, which will include three European countries, and the meeting included discussing bilateral relations between the two countries, where the governor stressed the importance of strengthening banking relations between Iraq and France and the importance of developing them.

 

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The government is considering a proposal to reduce salaries by 50%
 
11982.jpg
 
 
 
https://economy-news.net/content.php?id=22312
 
 

Economy News - Baghdad

The proposal to reduce the value of the Iraqi dinar against the dollar is still one of the solutions proposed to secure the salaries of employees and retirees and social care for the remaining months of the current year .

 

The government has also begun to study other proposals, most notably the abolition of salary allocations or reducing salaries to 50 %.

 

Surprisingly, the dollar’s exchange rate rose three days ago in the stock market and local markets, before gradually declining again during the past few hours .

 

The circumstances of the financial crisis and the collapse of oil prices in global markets and the repercussions of the Corona virus pandemic prompted Mustafa Al-Kazemi's government to review the financial policy in Iraq in order to overcome the financial distress threatening the Iraqi economy .

 

The appearance of Muhammad Saleh, the financial advisor to the Prime Minister, explains the reasons for the high exchange rate of the dollar during the past two days, saying that "the monetary market in Iraq is sensitive and affected by economic and political information and news, which is reflected in the demand and supply process for the dollar ."

 

Saleh, who is an advisor who has accompanied the third prime minister since 2014, added, "We are a cash payments community that does not deal in instruments or bank transfers. Therefore, this (monetary) policy has affected the supply and demand for the dollar," adding that "the lack of revenues from foreign currency due to low oil prices in Global markets were met by an increase in the purchase of the dollar, and this is the reason for the high exchange rate of the dollar in the markets . "

 

Saleh explains that "90% of the foreign currency window in the Central Bank is foreign remittances to finance foreign trade to the private sector, and 10% of it is for the cash dollar that the bank sells to banking companies, banks, and areas of market feeding ."

 

The government consultant estimates that "the stock of foreign currency that people have (not deposited in banks or banks) ranges between (7 to 10) billion dollars, and thus these large numbers are affected by rumors, news and information may also cause an increase in the exchange rate ."

 

For his part, the Central Bank explained that the recent statements regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it and do not represent the official position of the Central Bank, and this was accompanied by a number of rumors launched by speculators, which affected the price (temporarily). ). "The exchange rate is fixed and unchanged, and its monetary policy is clear and transparent. Knowing that the reserves of foreign currency are very good according to all international indicators, in a way that enables them to overcome the current crisis that the country is going through." The statement called on the media to "approve the sources of the Central Bank exclusively in this regard ."

 

During the past few hours, the exchange rates of the dollar fell against the Iraqi dinar in the main stock market and local markets .

 

On the other hand, the economist Majid Al-Suri shows that "one of the paragraphs in the white paper sent by the government to Parliament indicates an intention to study the possibility of raising the value of the dollar exchange rate while preserving the monetary policy and fixing the value of the dinar." ".

 

"The meaning of devaluation is to reduce the value of salaries indirectly, and all incomes that enter the Iraqi people, and it will also affect people with limited incomes and the classes of the poor through the rise in commodity prices ."

 

He explains that, "If the value of the dinar is reduced by 25%, the prices will be multiplied by a factor of about 40 to 50%," noting that "the white paper did not explicitly say that the exchange rate would be reduced, but rather said that among the measures that can be We resort to reducing the exchange rate . "

 

The picture confirms that "the government has not submitted a direct proposal calling for the reduction of the value of the dinar, but one of the proposals adopted by the government in its white paper is to reduce the exchange rate of the Iraqi dinar against the dollar." The white paper sent by the government to Parliament proposes imposing a reduction in wages and salaries from 25% of GDP, which will decrease to 12.5% within three years, and reforming the pension fund so that it is not linked to the budget and pension salaries are paid directly from the fund. It also called for reducing financial support for state-owned companies by 30% every year for three years, reducing total government support from 13% of GDP to 5% within three years, and restructuring the public salary scale by stopping new recruitment and replacement operations in The public sector, setting a ceiling for employees ’salaries in a manner that achieves fairness and reduces differences, and applying income tax to employee allocations, incentives, bonuses, and others .

 

The economist says that one of the reasons for the exchange rate rise is "irresponsible statements that dealt with the issue that the government will move towards reducing the exchange rate," adding that "other things that contributed to the increase in the price of selling the dollar are the lack of political or security stability, which led to the rise in the price." The dollar and commodities . "

 

The economic expert touched on the solutions that the government will pursue to overcome its financial crisis, saying that "the government has several options to solve the financial crisis, including fighting corruption and reducing operating expenses by canceling all salary allocations, which are estimated at more than (15) trillion dinars out of (28) trillion dinars in total. Salaries of employees in the Iraqi state. " He continues that "the government's actions in the year 2019 led to an increase in the size of salaries, which rose from 40 trillion dinars to more than 50 trillion dinars," explaining that "reducing allocations and large salaries will save very large funds amounting to more than (15) trillion dinars ."

 

He adds that "among the solutions or options presented is to reduce operating expenses and reduce salaries over three years from 25% of GDP to 12.5, meaning that the reduction is around 50%," believing that "this measure will save large parts of the Iraqi people." From the price inflation crisis. " He points out that "among the proposals put forward is also to increase financial resources from non-oil, such as ports and direct and indirect taxes, and to activate the public, private and mixed sectors, and to activate industry and agriculture, which will lead to employment of manpower and thus will lead to an increase in taxes ."

 

He adds that "among the proposals presented to the central bank, which it rejected is to raise the exchange rate," noting that "this option is one of the last options that the central bank may resort to in the absence of other solutions to address the financial crisis ."

 

Citing the Iraqi newspaper Al-Mada

 
Number of observations 85   Date of addendum 10/19/2020
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23 minutes ago, 6ly410 said:
  •  
The government is considering a proposal to reduce salaries by 50%
 
11982.jpg
 
 
 
https://economy-news.net/content.php?id=22312
 
 

Economy News - Baghdad

The proposal to reduce the value of the Iraqi dinar against the dollar is still one of the solutions proposed to secure the salaries of employees and retirees and social care for the remaining months of the current year .

 

The government has also begun to study other proposals, most notably the abolition of salary allocations or reducing salaries to 50 %.

 

Surprisingly, the dollar’s exchange rate rose three days ago in the stock market and local markets, before gradually declining again during the past few hours .

 

The circumstances of the financial crisis and the collapse of oil prices in global markets and the repercussions of the Corona virus pandemic prompted Mustafa Al-Kazemi's government to review the financial policy in Iraq in order to overcome the financial distress threatening the Iraqi economy .

 

The appearance of Muhammad Saleh, the financial advisor to the Prime Minister, explains the reasons for the high exchange rate of the dollar during the past two days, saying that "the monetary market in Iraq is sensitive and affected by economic and political information and news, which is reflected in the demand and supply process for the dollar ."

 

Saleh, who is an advisor who has accompanied the third prime minister since 2014, added, "We are a cash payments community that does not deal in instruments or bank transfers. Therefore, this (monetary) policy has affected the supply and demand for the dollar," adding that "the lack of revenues from foreign currency due to low oil prices in Global markets were met by an increase in the purchase of the dollar, and this is the reason for the high exchange rate of the dollar in the markets . "

 

Saleh explains that "90% of the foreign currency window in the Central Bank is foreign remittances to finance foreign trade to the private sector, and 10% of it is for the cash dollar that the bank sells to banking companies, banks, and areas of market feeding ."

 

The government consultant estimates that "the stock of foreign currency that people have (not deposited in banks or banks) ranges between (7 to 10) billion dollars, and thus these large numbers are affected by rumors, news and information may also cause an increase in the exchange rate ."

 

For his part, the Central Bank explained that the recent statements regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it and do not represent the official position of the Central Bank, and this was accompanied by a number of rumors launched by speculators, which affected the price (temporarily). ). "The exchange rate is fixed and unchanged, and its monetary policy is clear and transparent. Knowing that the reserves of foreign currency are very good according to all international indicators, in a way that enables them to overcome the current crisis that the country is going through." The statement called on the media to "approve the sources of the Central Bank exclusively in this regard ."

 

During the past few hours, the exchange rates of the dollar fell against the Iraqi dinar in the main stock market and local markets .

 

On the other hand, the economist Majid Al-Suri shows that "one of the paragraphs in the white paper sent by the government to Parliament indicates an intention to study the possibility of raising the value of the dollar exchange rate while preserving the monetary policy and fixing the value of the dinar." ".

 

"The meaning of devaluation is to reduce the value of salaries indirectly, and all incomes that enter the Iraqi people, and it will also affect people with limited incomes and the classes of the poor through the rise in commodity prices ."

 

He explains that, "If the value of the dinar is reduced by 25%, the prices will be multiplied by a factor of about 40 to 50%," noting that "the white paper did not explicitly say that the exchange rate would be reduced, but rather said that among the measures that can be We resort to reducing the exchange rate . "

 

The picture confirms that "the government has not submitted a direct proposal calling for the reduction of the value of the dinar, but one of the proposals adopted by the government in its white paper is to reduce the exchange rate of the Iraqi dinar against the dollar." The white paper sent by the government to Parliament proposes imposing a reduction in wages and salaries from 25% of GDP, which will decrease to 12.5% within three years, and reforming the pension fund so that it is not linked to the budget and pension salaries are paid directly from the fund. It also called for reducing financial support for state-owned companies by 30% every year for three years, reducing total government support from 13% of GDP to 5% within three years, and restructuring the public salary scale by stopping new recruitment and replacement operations in The public sector, setting a ceiling for employees ’salaries in a manner that achieves fairness and reduces differences, and applying income tax to employee allocations, incentives, bonuses, and others .

 

The economist says that one of the reasons for the exchange rate rise is "irresponsible statements that dealt with the issue that the government will move towards reducing the exchange rate," adding that "other things that contributed to the increase in the price of selling the dollar are the lack of political or security stability, which led to the rise in the price." The dollar and commodities . "

 

The economic expert touched on the solutions that the government will pursue to overcome its financial crisis, saying that "the government has several options to solve the financial crisis, including fighting corruption and reducing operating expenses by canceling all salary allocations, which are estimated at more than (15) trillion dinars out of (28) trillion dinars in total. Salaries of employees in the Iraqi state. " He continues that "the government's actions in the year 2019 led to an increase in the size of salaries, which rose from 40 trillion dinars to more than 50 trillion dinars," explaining that "reducing allocations and large salaries will save very large funds amounting to more than (15) trillion dinars ."

 

He adds that "among the solutions or options presented is to reduce operating expenses and reduce salaries over three years from 25% of GDP to 12.5, meaning that the reduction is around 50%," believing that "this measure will save large parts of the Iraqi people." From the price inflation crisis. " He points out that "among the proposals put forward is also to increase financial resources from non-oil, such as ports and direct and indirect taxes, and to activate the public, private and mixed sectors, and to activate industry and agriculture, which will lead to employment of manpower and thus will lead to an increase in taxes ."

 

He adds that "among the proposals presented to the central bank, which it rejected is to raise the exchange rate," noting that "this option is one of the last options that the central bank may resort to in the absence of other solutions to address the financial crisis ."

 

Citing the Iraqi newspaper Al-Mada

 
Number of observations 85   Date of addendum 10/19/2020

This article discusses both increasing and decreasing the exchange rate. Regardless of how its translated, they mention both👍

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2 hours ago, 6ly410 said:

The Governor of the Central Bank of Iraq, Mustafa Ghaleb, met his French counterpart within the framework of the visit, which will include three European countries, and the meeting included discussing bilateral relations between the two countries, where the governor stressed the importance of strengthening banking relations between Iraq and France and the importance of developing them.

 


:o 

 

:D  :D  :D 

 

 

 

LINK

Central Bank Governor stresses the importance of strengthening banking relations between Iraq and France

 

23684.jpg

 

19th October, 2020

 

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, stressed the importance of strengthening banking relations between Iraq and France

The Central Bank of Iraq said in a press statement that the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhaif, met this Monday with his French counterpart within the framework of the visit, which will include three European countries, and the meeting that took place in the French Central Bank included discussing bilateral relations between the two countries

According to the statement, the governor stressed the importance of strengthening banking relations between Iraq and France and the importance of developing them

For his part, the Governor of the French Central Bank affirmed that there is complete readiness to develop banking relations and cooperation between the two countries in the fields of supervision and combating money laundering and terrorist financing

#######

France confirms its readiness to develop banking relations with Iraq  LINK 

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15 hours ago, DinarThug said:

"There is global interest in Iraq, its role and its place, and there is also some appreciation for the government's credibility,

off course because of all those countries that printed dinar will profit....share and share about

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17 hours ago, DinarThug said:

The most prominent agendas of Kazemi's European tour

image.jpeg.52f9d426446e97d0e870c77f3ceb79e4.jpeg

 

19th October, 2020


And Don’t Worry - The Bro’s Are In Hot Pursuit Of Kazemi All Around Europe To Bring Us Live Intel From Every One Of His Stops ! :o 

 

1B8I.gif
 

:D  :D  :D 

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8 hours ago, DinarThug said:

the Governor of the French Central Bank affirmed that there is complete readiness to develop banking relations and cooperation between the two countries in the fields of supervision and combating money laundering and terrorist financing

boom....me too

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The Governor of the Central Bank of Iraq, Mustafa Ghaleb, held a series of meetings with a group of large German banks, and the meetings discussed investment opportunities and work with Iraqi banks, which met a high response from German banks, as they confirmed their desire to complete the talks in Baghdad soon.
 
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I'm sure there is plenty of pressure on Iraq from each and every nation that loaned or donated funds in its time of need whist they were in the midst of eliminating the dasholes let in by Maliki.

 

Hopefully it's a tour of "dotting i's and crossint t's."

 

Next stop:

 

RV!!!

 

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Currency counting and sorting machines in the Central Bank of Iraq

Information about the machines for counting and sorting the Iraqi currency in the Central Bank of Iraq. These machines are characterized by high speed and accuracy in counting and sorting the currency as well as destroying the currency for recycling. The Central Bank of Iraq Information Office

Edited by 6ly410
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In the context of his visit to the United Kingdom, His Excellency the Governor met with the two international auditing companies Ernst & Young and PWC, where he discussed with them the enhancement of the volume of work with the Central Bank of Iraq due to the experience and reliability of these companies, stressing his keenness to maintain the relationship with them during the coming period.

 
The Governor of the Central Bank concluded his meetings with the Secretary General of the European Bank for Reconstruction and Development (EBRD), and the meeting included discussion of the final requirements for Iraq's accession to the European Bank as well as their desire to deal with Iraqi private companies and banks.
 
 

The Governor of the Central Bank of Iraq met in the capital, London, with the Governor of the Bank of England. The meeting dealt with ways to develop banking relations, increase the volume of investment transactions between the two countries, cooperate in the field of “combating money laundering and terrorist financing” and overcoming obstacles that hinder the process of opening branches for foreign banks.

 

 

 

 

 

 

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The central bank is looking to increase the volume of investment transactions with England

Political | 07:36 - 10/21/2020

 

image

Baghdad - Mawazine News,
Governor of the Central Bank, Mustafa Ghaleb Makhaif, discussed, on Wednesday, with the Governor of the Bank of England, to increase the volume of investment transactions.
In a statement received by Mawazine News / a copy of it, the bank said, “The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mkhaif, met in the capital, London, today, Wednesday, with the Governor of the Bank of England. In the fields of combating money laundering and terrorist financing, and overcoming obstacles that hinder the process of opening branches for foreign banks operating in Iraq.
He added, "The governor met, within the framework of his visit to the United Kingdom, with the two international auditing companies Ernst & Young and PWC, where he discussed with them enhancing the volume of work with the Central Bank of Iraq because of these companies' experience and reliability, stressing his keenness to maintain the relationship with them during the coming period," indicating that "The governor concluded his meetings with the Secretary General of the European Bank for Reconstruction and Development (EBRD), and the meeting included discussion of the final requirements for Iraq's accession to the European Bank, as well as their desire to deal with Iraqi private companies and banks

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Post From Delta ...

 

:D  :D  :D 
 

 

Central Bank Governor Mustafa Ghaleb Makhaif discussed, on Wednesday, the final requirements for Iraq to join the European Bank.

 

Governor of the Central Bank discusses the final requirements for Iraq
 

 Central Bank of Iraq met in the capital, London, today, Wednesday, with the Governor of the Bank of England, and the meeting dealt with ways to develop banking relations and increase the volume of investment transactions between the two countries as well as the importance of cooperation in the field of combating money laundering. Financing terrorism and overcoming obstacles that hinder the process of opening branches for foreign banks operating in Iraq. "
 
He added that the governor "met, within the framework of his visit to the United Kingdom, with the two international auditing companies Ernst & Young and PWC, where he discussed with them enhancing the volume of work with the Central Bank of Iraq because of these companies' experience and reliability," stressing his keenness to "maintain the relationship with them during the coming period."
 
"The governor concluded his meetings with the Secretary General of the European Bank for Reconstruction and Development (EBRD), and the meeting included discussion of the final requirements for Iraq's accession to the European Bank, as well as their desire to deal with private Iraqi companies and banks.

 


DELTA
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Comments By MilitiaMan Following The Article ...

 

:D  :D  :D 

 

 

A member of Parliament Finance sets an expected date for the October salary distribution


137525.jpg?watermark=4
 

6,283 Economie 2020/10/21 18:47 


Baghdad Today - Follow-up 

 

Member of the Parliamentary Finance Committee, Jamal Cougar, expected the date for the distribution of salaries for the current month of October, while indicating that Parliament will not stand as a stumbling block in front of the government's request to borrow to secure salaries. 

Cougar said in a televised interview (Baghdad Today) that "Parliament has received the Financial Deficit Financing Act for the year 2020, consisting of 3 main paragraphs between resources, deficit and request for loans." 

He added, "According to the current data, the salaries of October will be distributed after the borrowing law is enacted and Parliament will amend it, because what has been requested from the government needs to be reduced."

He pointed out that "Parliament will not accept a borrowing ceiling of up to 41 trillion dinars, which was requested from the government to finance the salaries of 4 months, and it says it needs 7 trillion a month to finance salaries and expenditures, meaning that it is supposed to ask for less than 30 trillion." 

He pointed out that "Parliament is not against borrowing, the United States and the Gulf countries borrow to finance the deficit, and this is applicable everywhere, but we refuse to go to borrow without reform because this will lead to an economic collapse."

He stressed, "Supporting government assistance to keep things going and not affect employees, but not at the expense of the central bank’s reserves and government bank money."

And he warned that "any defect in employee salaries affects the market movement, in Iraq 6.5 million people take salaries between employees and retirees and those entitled to care salaries, and those who depend on them for their livelihood 8 million people working in the private sector." 

He emphasized that the government should proceed with its reforms, noting that the Minister of Finance said that the White Paper will be implemented as of January 1, 2021.

Earlier, a member of the Parliamentary Finance Committee, Sherwan Mirza, explained the position on the salaries of the remaining three months of the year 2020.  

Mirza said in an interview with (Baghdad Today), that "securing salaries for the next three months will be less critical to the government compared to what There was a delay in salaries during the month of September. " 

He added, "The government will secure the salaries of employees for the remaining three months of this year, especially since the Ministry of Finance has taken some measures that will maximize the state’s imports and alleviate the economic crisis that the country is going through."

The Minister of Finance, Ali Abdul-Amir Allawi, had previously spoken in numbers about the economic situation in Iraq, and the size of the accumulation in salary expenditures and their double increase at a time when the state's revenues from oil decreased, while he presented a number of solutions to avoid an economic crisis greater than it is. On her now according to not seen. 

The minister, Ali Allawi, said in a televised interview, followed by (Baghdad Today), that "the employee's productivity is very low and reaches 0% in some departments," indicating that "there must be a return to the state from the services provided by the employee and this does not exist. Non-productive employees should be transferred to productive projects to invest their efforts, and we will present a project to transfer them from another place. "

He continued, "The Ministry of Finance paid the salaries of September after reviewing the financial engineering, and we are now at a crossroads. There must be financing to bridge the salary deficit and there are 3 solutions. The first is to increase imports and this is linked to the value of oil exports and it is not encouraging because it does not exceed the 15 billion dollars until the end General ". 

He added, "In return, we need funding of at least 58 trillion dinars to cover the ruling expenses. The second solution is to reduce expenditures and the third is to find a way to finance the deficit." 

With regard to customs funds, the minister replied by saying that "the issue is related to imports, and it has said very much because of the Corona crisis," noting that "there is a large part of Iraq's internal imports that are exempt from fees and what is entered through investment is also exempt, and this means that no resources are achieved for these two reasons." 

He continued, "The percentage of resources that enter through customs does not exceed 15% of the value of what is imposed due to the above reasons," saying, "What we expect does not exceed 4 billion dollars annually, and therefore customs will not be a major source of state funding." 

"As for taxes he said, ", their base is very narrow, and those who pay most are the employees," he said noting that "70% of the private sector is unorganized and cannot be collected because most projects are small and there is no culture of paying taxes." 

Regarding what is being raised about the existence of an expected change in the exchange rate, the minister stressed that 

"changing the exchange rate of the dinar against the dollar must be done in agreement with the Central Bank and the International Monetary Fund. 

Presenting numbers is currently a sensitive issue. 

Reducing the value of the dinar will have positives and negatives and will help us financially in the first period."
But we must contain its repercussions, especially inflation. "

He warned that "reducing the value of the dinar will create real competition and activate the industrial and agricultural sectors in Iraq," adding that "in 2014 and 2015 there was a decrease in oil prices, but the revenues that Iraq used to get covered expenses on salaries."

He pointed out that "the year 2020 witnessed an unexplained increase in the value of what is paid for salaries if it doubled to the level of half from the previous year, and rose from 40 billion dollars annually to 65 billion."

LINK

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He emphasized that the government should proceed with its reforms, 

noting that the Minister of Finance said that the White Paper will be implemented as of January 1, 2021.

The part that seems to get lost, is the bold underlined above. 

Reforms are apart of the White Papers.

What the White papers are yet to have exposed to the masses, 

is first and prior to any implementation of the Whiate papers,

is a rate at which the reforms will be allocated in and to!

Yep, prior to the end of year salaries that are yet to be determined

Or have yet to be paid

is a rate for the last final 4 months of the year.. 

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lol imo - MM

 - MilitiaMan

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