The Minister of Finance marks an important proposal that was put forward during his meeting with the Finance Committee ... and confirms the acceleration of his achievement

[6ly410]

The Minister of Finance marks an important proposal that was put forward during his meeting with the Finance Committee ... and confirms the acceleration of his achievement

Editing Date: 6/20/2020 19:28 • 117 times read

Ayna News
http://www.alliraqnews.com/modules/news/article.php?storyid=94307
- Baghdad Parliamentary Finance Committee stipulated, today, Saturday, that the government submit the financial reform paper within 60 days in exchange for allowing internal and external borrowing, while Finance Minister Ali Allawi considered that the proposal to present the reform paper is very important and the government will work on it as quickly as possible.

The House of Representatives said in a statement, “The Finance Committee headed by Deputy Haitham al-Jabouri and the presence of a number of members of the Committee on Saturday 20/6/2020, hosted the Minister of Finance Ali Abdul Amir Allawi to discuss the economic crisis the country is going through and ways to get out of it and complete its discussions on the borrowing law Internal and external. ”

The statement continued, “Part of the meeting was chaired by the First Deputy Speaker of Parliament Hassan Karim Al Kaabi, who welcomed the Minister of Finance, as he stressed that the parliament is waiting for the government to make real reforms that affect the lives of citizens and do not affect them negatively, in addition to that the House of Representatives is supportive of any A reform measure that fights corruption in state institutions.

And that “the Finance Committee has made clear that the government has many solutions and steps that contribute to increasing the state’s resources and providing the budget with large sums other than deducting the salaries of employees and retirees, since the House of Representatives in general and the Finance Committee in particular reject this idea and is consistent with the aspirations of the people who want to live in dignity And economic stability. ”

He continued, "The Finance Committee added that the law of internal and external borrowing would be a temporary solution to cover the deficit in the budget, provided that the government is committed to sending the law of economic and financial reform to the House of Representatives in a period not exceeding 60 per day to keep the country away from the specter of financial crises in the future."

And the committee stated, according to the statement, “One of the most important reform measures that the government must take is to automate customs, fully control it, collect electricity and impose sales tax through a law that enables customs to withhold these taxes before entering the country, as well as offering some self-financing companies to invest. To support the private sector, which will reduce the burden on the public budget and provide job opportunities for many unemployed youth and holders of advanced degrees. ”

He pointed out that "the Finance Committee has reviewed the letter of the Ministry of Finance - Budget Department - has expressed its willingness to add a text within the borrowing law that allows the Ministry of Finance to release funding for the salaries of new hires in the Ministry of Education as an exception to the provisions of paragraph (first) of Article (13) of the Federal Financial Management Law No. (6) of 2019 ”

For his part, Minister of Finance Ali Abdel Amir Allawi gave a detailed explanation of “the financial and economic reality that Iraq is going through and the size of the budget deficit and the amount required within the law of internal and external borrowing to cross this crisis,” adding that “the paragraph that the Finance Committee added to the borrowing law regarding government provision The economic and financial reform paper is very important and will work on it as quickly as possible

[Donziman]

What a bunch of political BS. Kicking the can another 60 days to allow  more

borrowing. This is a total joke. Why don't they make a serious effort to recover

all the stolen money?? In 60 days they would have plenty of money and wouldn't

have to borrow at all.  Bunch of camel herding double talkers...

[screwball]

8 hours ago, Donziman said:

What a bunch of political BS. Kicking the can another 60 days to allow  more

borrowing. This is a total joke. Why don't they make a serious effort to recover

all the stolen money?? In 60 days they would have plenty of money and wouldn't

have to borrow at all.  Bunch of camel herding double talkers...

Borrowing or currency swap? 

[screwball]

I say it’s a currency swap 

[Woldopep]

Good Morning,  screwball, please define what you mean by currency swap. Thx

[Donziman]

Just wondering about the INTERNAL borrowing. Does this mean the government

would borrow from investors by a bond issue paying a high return on investment.

This would really be shocking. In reality the government would be borrowing their

own money that was stolen in previous years by the bankers and politicians. ha ha 

[DWS112]

I'm hoping it may have something to do with this Twitter post by Abadi back in 2018:

(This Borrowing Law is an out of the ordinary economic move)

[nannab]

RV RV RV!!!!!!  Please  

1 hour ago, DWS112 said:

I'm hoping it may have something to do with this Twitter post by Abadi back in 2018:

(This Borrowing Law is an out of the ordinary economic move)

Thanks DWS112    

[screwball]

5 hours ago, DWS112 said:

I'm hoping it may have something to do with this Twitter post by Abadi back in 2018:

(This Borrowing Law is an out of the ordinary economic move)

its coming....

[screwball]

13 hours ago, Woldopep said:

Good Morning,  screwball, please define what you mean by currency swap. Thx

https://www.investopedia.com/terms/c/currencyswap.asp

 

countries do it al the time

[screwball]

think this borrowing law is bigger than we think....imagine all this money pushed through and regulated through private banking network. This is where it all begins.