The Parliamentary Finance Decision Talks About A Threat To The Central Bank's Foreign Currency Reserves !

[DinarThug]

LINK

The International Trust Bank .. Localizing Defense And
Interior Salaries Has Strengthened Services

 

29th June, 2020

The International Islamic Trust Bank revealed the mechanism for developing the services it provides to the public, especially after the salary settlement base of employees of the Ministry of Defense and the Interior expanded.

He said: The assistant delegate director of the bank, Wehbe Al-Khaffaf, said that the salary settlement base has grown in the presence of the security system, which prompted the bank to keep pace with global services and adopt them in a phased manner and in a manner that is appropriate for the sacrifices of the security forces, indicating that this is in line with the instructions of the Central Bank of Iraq in creating a banking sector Discreet adopts international standards.

Al-Khuffaf pointed out that the expansion of products represents the most important goal of the bank during the coming stage, which coincides with a plan that enables human resources to develop the advanced systems that the financial sector is witnessing in the world.

He pointed out that the bank provides its services through 13 branches distributed between Baghdad and the provinces, pointing out that despite the challenges facing the country, the bank provides its services taking into account the directions of the crisis cell.

[DinarThug]

The secret of delaying salaries is "evolving" .. A "strongly worded" warning from one of the ministries to government banks and "payment" cards: Launch salaries immediately!

2020-06-30

 

 

Yassin Iraq: Baghdad

 

The Oil Products Distribution Company of the Ministry of Oil sent a "strongly worded" ultimatum to Al-Rasheed and Al-Rafidain Banks, due to the delay in spending the salaries of the company's employees for two consecutive months, without knowing the reasons.

A document seen by Yassin Iraq, directing the Oil Products Distribution Company to Al-Rashid and Al-Rafidain banks, showed a strong warning, that commitment to the terms of the salary settlement agreement signed between the company and the two banks should be adhered to, while the company threatened to end the contract and bank compensation.
 

LINK

[DinarThug]

LINK

The Central Bank of Iraq cuts loan interest to support the
economic and production sectors

 

30th June, 2020
 

With the continuing economic repercussions caused by the Corona pandemic and the
restrictions that imposed economic activity in most of the productive and service
sectors and the decline in oil revenues, the Central Bank of Iraq decided to enhance
the liquidity of the “existing projects”  that were funded from the (one trillion)
initiative in the amount of (5) million dinars for those  wishing Thus, the project
guarantees the same for administrative and interest-free commissions.

 

The Central Bank also directed banks and guarantor companies to reduce interest
from (4.8%)  to (3.5%) for borrowers within the 1-20 million dinar segment and
reduce the bank loan  interest from the 21 million to 1 billion dinar segment after
it was (6.3%) to become (4%).

 

The Central Bank also directed banks to take into account projects related to the
tourism,  hotels and restaurants sectors whose recovery might be prolonged by
considering postponing their premiums for a longer period until recovering from
the pandemic crisis.

 

The Central Bank of Iraq

information Office

June 30, 2020

[DinarThug]

LINK

Association of Private Banks: the central bank reduced
interest on small and medium loans from 6.3% to 4%

 

30th June, 2020

 

The Association of Iraqi Private Banks announced, on Tuesday, the Central Bank of Iraq reduced the interest rate on loans within the initiative of the Central Bank of Iraq from 6.3% to 4% to accelerate the recovery of the Iraqi economy after being affected by the Corona pandemic

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, said in a statement received by "Al-Iqtisad News", that "the economic activity of Iraq witnessed a decline during the past days due to the direct impact of the Corona pandemic on the global economy and the drop in oil prices, which reduced Iraq’s revenues during the last period, so The Central Bank of Iraq decided to reduce the interest rate on its initiative to support micro, small, medium and large projects in support of the national economy

Tariq pointed out that "the Central Bank of Iraq decided to cut interest on loans that end at 20 million from 4.8% to 3.5%, while loans that start from 21 million dinars to one billion dinars, interest will be 4% after it was 6.3%

The Executive Director of the Association of Private Banks stressed that "the reduction of interest is aimed at supporting national products in order to reduce foreign imports", explaining that "the Central Bank of Iraq is currently considering postponing loan installments for projects related to tourism, hotels and restaurants as a result of the suspension of its business over the past period due to the Corona pandemic

[DinarThug]

They’re Back !  

 

     

 

 

YESTERDAY'S AUCTION RESULTS

LINK

The results of the foreign currency sale window for Monday 29/6/2020, executed today

 

Advertisement No. (4206)

 

Sale date -  Monday 29/6/2020, executed today

 

the details                                The amount

Total sale for purposes 
of enhancing balances abroad 
(transfers, credits).                      284,534,661

Total cash sale.                            16,290,000

Total sales.                               300,824,661

 

Note that:
 

The sale price of the sums transferred to the accounts of banks abroad ( 1190 ) dinars per dollar.

Cash sale price ( 1190 ) dinars per dollar.
 

 

» The Central Bank of Iraq sales schedule for foreign currency (amounts in thousands of dollars)

 

Edited June 30, 2020 by DinarThug

[Half Crazy Runner]

7 minutes ago, DinarThug said:

Total cash sale. 16,290,000

Hmmm ... I thought cash sales weren’t happening during the  ‘rona...?

[jcav]

36 minutes ago, DinarThug said:

The secret of delaying salaries is "evolving" .. A "strongly worded" warning from one of the ministries to government banks and "payment" cards: Launch salaries immediately!

 

 

How are they doing that or should I ask, who are they stealing from?

[DinarThug]

The White Reform Paper ... a step to maximize the country's financial resources

Wednesday 01 July 2020

Baghdad / Hussein Faleh

 

Economists believe that the white financial and economic reform paper that the government intends to implement will maximize the country's financial resources and reduce unnecessary expenditures and fight corruption, in addition to that it will focus on the living economic aspects that generate additional resources for the state, as it will target the development of productive sectors and the activation of taxes and customs duties . 
Member of the Committee on Economy and Investment, Nada Shaker Jawdat, told Al-Sabah: “Her committee held a meeting with Prime Minister Mustafa Al-Kazemi in the presence of Finance Minister Ali Abdul Amir Allawi to discuss the challenges of the financial and economic situation in the country, as well as the white reform paper.”

 

Economic aspects

She added, "The Prime Minister spoke about the reform paper, and emphasized that his government is in the process of preparing this paper, which will target vital economic aspects in order to maximize the country's financial resources, reduce unnecessary expenditures and combat corruption in some parts of the country."

She suggested that "the reformist white paper targets border ports, whether in the central and southern governorates or in the Kurdistan region in terms of controlling them and stopping the rampant corruption in them and forming new departments for those outlets, as well as targeting seaports and activating customs duties on goods to be a money-generating port, as well as Activating taxes on other companies and projects. "

 

The oil sector

She added, "It will also focus on the telecommunications sector, which is no less important than the oil sector, since tax money can be collected by telecommunications companies, and also can benefit from Tunisia's experience in this field, which forced telecom companies to donate billions of dollars, stressing the need to impose taxes on an auction.

" Selling hard currency to the central bank. "

She noted that "the hard currency auction needs to be reconsidered because the amount of money sold daily does not match the size of the importer, indicating that it submitted an application in official books to impose taxes on the money that goes to the imports."

She stressed the necessity of activating the agreement concluded with the Kurdistan region to hand over the dues of the region in exchange for delivering 250 thousand barrels of oil to Baghdad, stressing that the Kurdistan region has not yet complied with the agreement concluded between the two parties while the federal government is committed to paying salaries and dues to the region.

 

Domestic product

She went on to say, as "the government must impose its control on the local markets, imported food and products in order not to compete with the local product, especially in relation to agriculture, pointing out that there are money wasted in the energy sector, as Iraq imports annually gas, oil derivatives and electricity while He can invest gas, build oil refineries, and build power stations within a year or two. "

 

Productive sectors

She stressed "the importance of supporting and developing the productive sectors, such as industrial, agricultural and tourism, indicating that the development of old industries such as dairy, leather, foodstuff, electrical and other industries could generate additional money for the state."

She pointed out that "the government will focus on developing the local industry and imposing protection on the local product to create self-sufficiency from some industrial products."

LINK

[Miamiheatnic]

rv yet?????????????????????

[DinarThug]

LINK

Oil prices are falling due to the possibility of the return
of Libyan supplies

 

30th June, 2020

 

Oil prices retreated on Tuesday, as traders deliberately sold for profit following strong gains in the previous session and the Libyan Oil Corporation announced progress in talks to resume exports, which may boost supply

Active Brent crude for September delivery fell 24 cents, or 0.6 percent, to $ 41.61 a barrel, by 0610 GMT, reducing Monday's gains of 92 cents. The August contract, which expires on Tuesday, fell 24 cents to $ 41.47

US crude fell 33 cents, or 0.8 percent, to $ 39.37 a barrel

Corona virus infection continues to increase in the southwest and southwest states, but strong growth in planned US home sales has sparked some optimism that global fuel demand is rising

[DinarThug]

 
 

Analyst: The United States can change the world by devaluing the dollar

 

 

June 30, 2020 07:33 PM 
 

Direct: An economic analyst claimed that it would be better to depreciate the value of the dollar rather than continue to focus on quantitative easing initiatives, which could change the world. 

"Hugh Hendry," director of investment portfolios at an asset management company, said during comments with the US "CNBC" on Monday that quantitative easing programs, where central banks buy government bonds to pump liquidity into the economy, are not successful. 

He suggested that policymakers should consider the issue of the value of the US dollar rather than targeting bonds as a form of economic stimulus. 

Hendry" pointed out that something is wrong with regard to quantitative easing, saying: "Simply deploying or expanding the central bank's ineffective reserves and trying to spread fear that they are printing real money is actually a scam."

The analyst, who believes that the dollar is the new gold standard, claimed that the real problem is that there is a shortage of green paper in global markets. 

He added that the United States was determined, over many decades, to impose the dollar as a global lending and monetary standard on the rest of the world.

He pointed out that "if she wants to be the king but must behave like the king, stressing that if she is going to impose a standard for the dollar on the world, it must provide sufficient liquidity, and this is in fact what they failed to do," he said. 

And he attributed the wave of large-scale selling last March in part - a period that witnessed a decline in global markets amid growing concerns about the Corona epidemic - to investors having to sell assets in order to create dollars and pay off debts. 

Although the analyst acknowledged that the dollar swap lines approved by the Federal Reserve were successful in that period, he pointed to the need for an alternative approach that supports the economy. 

"Isn't it better not to target bond prices, but rather to target the actual value of the dollar?" He asked. 

He pointed out that there is a need to print less dollars, and that we need the Treasury and not the Federal Reserve to rise in the forefront, which would change the world.

By 12:58 pm GMT, the main index of the dollar, which follows the performance of the American paper against 6 major currencies, rose by more than 0.1 percent to 97.662.[/size]

LINK

[danielchu]

HEY now there is a  thought become CHINA!!

[DinarThug]

10 hours ago, danielchu said:

HEY now there is a  thought become CHINA!!

 

 

 

     

[DinarThug]

 

 

[DinarThug]

LINK

Deputy: Parliament is convinced that it is difficult to present a budget for this reason
 

 

13:08 - 01/07/2020

 

The deputy of the Iraqi Iraqi Forces Federation, Zaytoun Al-Dulaimi, confirmed on Wednesday that the House of Representatives has full conviction of the difficulty of sending the budget for the current year despite our time to submit it within three months, indicating that there are many reasons for not sending the budget for this year.

Al-Dulaimi said in a statement to "Information", that "the House of Representatives has become fully convinced of the difficulty of submitting the 2020 budget because the government is working with the money it receives and that the public treasury does not have significant funds from outside of the money it receives."

She added that "the ruling data confirm that this year does not have an integrated budget, but Parliament continues to communicate with the government in carrying out reforms and it closely monitors these measures."

It is noteworthy that the Iraqi Council of Representatives voted on the third of June voted on a decision obligating the government to send the budget within a month. 

[DinarThug]

LINK

Parliamentary finance determines the reasons for the delay in the salaries of employees

 

1st July, 2020

The Finance Committee in the House of Representatives, on Wednesday, identified the reasons for the delay in the launch of employee salaries for the month of June.

The committee member, Adnan Al-Zorfi, said, according to the official media, that "the salaries of the employees will be launched by the Ministry of Finance during the coming days after the completion of transferring the procedures for transferring cash from hard currency to Iraq."

He added that "the reason for delaying the payment of salaries is due to the procedures for the currency conversion period and not to transfer the salary payment every forty days as it is rumored."

Earlier, Prime Minister Mustafa Al-Kazemi directed the Ministry of Finance to expel the salaries of employees. 

############
 

LINK

Parliamentary finance determines the reasons for the delay in the salaries of employees

[horsesoldier]

Nope ! Calling   on this ! YOURE STONE COLD BROKE BIATCHES.

[DinarThug]

LINK

Al-Kazemi's economic agenda focuses on encouraging investors, attracting talent, and converting oil revenues into development projects
 

 

30th June 2020

Iraq seeks to lay the blocks for reviving the multi-resource economy, which relies on oil revenues excessively, and the first step on this path, Prime Minister Mustafa Al-Kazemi's meeting on June 22, 2020, with the Chairman and members of the Parliamentary Committee on Economy and Investment to discuss economic, financial and administrative reforms And plans and strategies to meet the challenges faced by the country.

Special sources say to Al-Masala that Al-Kazemi attaches the utmost importance to encouraging foreign and local investors to work inside the country, attracting the existing talents inside and outside, and improving the low level of services, transferring oil revenues to development projects.

According to economic reports followed by the obelisk, the most important thing that impedes the entry of foreign investors into the country is the political instability of the Iraqi state. The Economic and Investment Committee revealed an intention to amend the investment law to encourage foreign and domestic investors to invest inside the country. And local media quoted a member of the committee, Mayada Najjar, as saying, during press statements, that the current investment law repelled investors, as well as the killer routine in promoting investment transactions.

Najjar explained that the deliberate neglect of the competencies that exist at home and abroad and pushing them away from the circles of work and application, and bringing those who are characterized by partisanship and belonging to political blocs is harmful to the business climate.  Global reports indicate Baghdad's ability to tackle unemployment and poverty crises, improve the low level of services, and combat bureaucracy and corruption are still limited.

Al-Kazemi finds support from the economic community and Iraqi parliamentarians for the reform steps announced by seeking to establish an investment fund for future generations. Member of the Parliamentary Committee on Economy and Investment Nada Shaker Jawdat said that the Prime Minister's reform steps are moving in the right direction, the most important of which is the transfer of oil revenues to development projects.

Iraq ranks 172 out of 190 countries in the annual World Bank Index for ease of doing business, and this classification reflects the difficulty of entering the market of the OPEC member country. And Iraq has vast potential to attract foreign investors, thanks to the population of about 40 million people, which makes it one of the largest consumer markets in the Arab region.

The Iraqi economic scene is witnessing a relatively small shift in the extent of global companies’ willingness to work in the country, and analysts believe that Iraq’s compliance with the International Monetary Fund can enhance corporate confidence and give a glimmer of hope, especially after Iraq obtained the first credit rating despite being high risk.

[DinarThug]

19 minutes ago, DinarThug said:

The Central Bank of Iraq issues controls for managing
foreign exchange centers

 

1st July, 2020

The Central Bank of Iraq instructed all licensed banks to follow the controls of managing
foreign exchange centers permitted by banks  

To view the controls, please click here

 

To all authorized banks m / Controls of foreign exchange centers management permitted
by banks Good greeting ... Based on the board decision numbered (101) for the year 2020
The following was decided: - Activating the work of foreign exchange centers controls
according to Article (53) From Instructions No. (4) for the year 2010 with the
amendment of the upper limit of the total cash position to become (20%) twenty percent
of the bank’s capital and sound reserves instead of (40%) of the total private funds on
banks to apply the controls of foreign exchange centers’ instructions before the end of
General 2020 and reduce its open position (creditor or debtor) gradually and according
to the schedule of 

(40%) before the end of 2020/8/31 (30%) before the end of 2020/10/31 20%) before
the end of 2020/12/31. The bank must appoint a treasury manager with sufficient
experience to be responsible for: foreign currency buying and selling operations,
foreign exchange centers management, according to the controls, the bank’s investment
investments in capital markets, proper use of the bank’s excess liquidity and according
to the maturity schedule issued by of this bank. Stopping banks exceeding the upper 
limit the debtor foreign exchange position from entering the window of foreign currency 
sale according to the above schedule specified until it liquidates these debtor centers

 

5. Accompany a link (Excel) table for the application of the above cash centers controls,
which requires sending it quarterly to this department, and within a maximum period
of (6) days of the month following the month authorized to be verified in the field and
office with the submission  Munther Abdul Qadir Al-Sheikhly

 

 

LINK

The Central Bank of Iraq issues controls for managing
foreign exchange centers

 

1st July, 2020

The Central Bank of Iraq instructed all licensed banks to follow the controls of managing
foreign exchange centers permitted by banks  

To view the controls, please click here

  

To all authorized banks m / Controls of foreign exchange centers management permitted
by banks Good greeting ... Based on the board decision numbered (101) for the year 2020
The following was decided: - Activating the work of foreign exchange centers controls
according to Article (53) From Instructions No. (4) for the year 2010 with the
amendment of the upper limit of the total cash position to become (20%) twenty percent
of the bank’s capital and sound reserves instead of (40%) of the total private funds on
banks to apply the controls of foreign exchange centers’ instructions before the end of
General 2020 and reduce its open position (creditor or debtor) gradually and according
to the schedule of 

(40%) before the end of 2020/8/31 (30%) before the end of 2020/10/31 20%) before
the end of 2020/12/31. The bank must appoint a treasury manager with sufficient
experience to be responsible for: foreign currency buying and selling operations,
foreign exchange centers management, according to the controls, the bank’s investment
investments in capital markets, proper use of the bank’s excess liquidity and according
to the maturity schedule issued by of this bank. Stopping banks exceeding the upper 
limit the debtor foreign exchange position from entering the window of foreign currency 
sale according to the above schedule specified until it liquidates these debtor centers

 

5. Accompany a link (Excel) table for the application of the above cash centers controls,
which requires sending it quarterly to this department, and within a maximum period
of (6) days of the month following the month authorized to be verified in the field and
office with the submission  Munther Abdul Qadir Al-Sheikhly

[DinarThug]

LINK

Parliamentary Economy recommends allocating 25% of loans
to investment projects

 

1st July, 2020

The Parliamentary Economy and Investment Committee recommended that the government allocate 25% of external loans to investment projects.

The committee member, Attwan Al-Atwani, said today, Wednesday, that "the economic situation greatly pressures public life, both its investment and financial sectors," noting that "many strategic and medium projects have been suspended due to the lack of approval of the budget." He added, "The government is required to find alternatives to oil after it became an internationally undesirable commodity, due to the use of renewable alternative energies, calling for the preparation of an in-depth study on the economic situation in Iraq to develop capabilities and capabilities and take advantage of natural resources to develop other sectors."

He pointed out that "a lot of discontinued investment projects need funding, and continuing to stop them means extinction and depriving the citizen of their services," stressing "the importance of allocating from 20 to 25% of the loans that the government intends to borrow and employ them properly and distribute them to important investment projects, especially as the development The investment sector would create a secondary tributary after oil."

The President of the Republic, Barham Salih, approved last Thursday the local and external borrowing law to finance the fiscal deficit for the year 2020. The  President of the Republic confirmed, during his signature of the law, that "ratification comes out of the financial crisis that the country is going through in light of the outbreak of the Corona pandemic, To finance the salaries of employees, retirees, and necessary government expenditures, stressing that government spending must be rationalized at the current stage. The president’s approval came after the law came to the presidency of the Republic from the House of Representatives after it was voted on.

[ChuckFinley]

17 hours ago, DinarThug said:

 
 

Analyst: The United States can change the world by devaluing the dollar

 

 

June 30, 2020 07:33 PM 
 

Direct: An economic analyst claimed that it would be better to depreciate the value of the dollar rather than continue to focus on quantitative easing initiatives, which could change the world. 

"Hugh Hendry," director of investment portfolios at an asset management company, said during comments with the US "CNBC" on Monday that quantitative easing programs, where central banks buy government bonds to pump liquidity into the economy, are not successful. 

He suggested that policymakers should consider the issue of the value of the US dollar rather than targeting bonds as a form of economic stimulus. 

Hendry" pointed out that something is wrong with regard to quantitative easing, saying: "Simply deploying or expanding the central bank's ineffective reserves and trying to spread fear that they are printing real money is actually a scam."

The analyst, who believes that the dollar is the new gold standard, claimed that the real problem is that there is a shortage of green paper in global markets. 

He added that the United States was determined, over many decades, to impose the dollar as a global lending and monetary standard on the rest of the world.

He pointed out that "if she wants to be the king but must behave like the king, stressing that if she is going to impose a standard for the dollar on the world, it must provide sufficient liquidity, and this is in fact what they failed to do," he said. 

And he attributed the wave of large-scale selling last March in part - a period that witnessed a decline in global markets amid growing concerns about the Corona epidemic - to investors having to sell assets in order to create dollars and pay off debts. 

Although the analyst acknowledged that the dollar swap lines approved by the Federal Reserve were successful in that period, he pointed to the need for an alternative approach that supports the economy. 

"Isn't it better not to target bond prices, but rather to target the actual value of the dollar?" He asked. 

He pointed out that there is a need to print less dollars, and that we need the Treasury and not the Federal Reserve to rise in the forefront, which would change the world.

By 12:58 pm GMT, the main index of the dollar, which follows the performance of the American paper against 6 major currencies, rose by more than 0.1 percent to 97.662.[/size]

LINK

We are already do that. That is why I am headed to the dinar.

[DinarThug]

LINK

The Finance Committee proposes to adopt a semi-annual budget

 

1st July, 2020

 

The Parliamentary Finance Committee asked the federal government to prepare a semi-annual budget and send it to the House of Representatives for approval, in order to run the country's financial affairs

The committee’s rapporteur, Ahmed Al-Saffar, said, in a statement reported by the official “Al-Sabah” newspaper and seen by Al-Iqtisad News, that “the committee was waiting for the government to send the budget to the parliament yesterday, Tuesday 6/30 according to the scheduled date

Al-Saffar added that "after delaying the budget, the government will rely on the monthly interim budget 1/12", stressing, "The government should not rely on the 12/12 monthly budget for 2019, because the disbursement and revenue process requires a legal cover represented by the budget law

He explained that "either a monthly budget is passed, or a bi-annual budget law is sent for approval in the House of Representatives

Al-Saffar pointed out that "work without a headquarters budget law will not allow the parliament to exercise its oversight role over exchange and revenue, so we are waiting for the government’s opinion," noting that "legal solutions lie in the approval law, which is not a substitute for the budget, so the committee agreed to Approving the budget so that the government can provide liquidity to implement its obligations, and that what is related to spending and revenue must have a legal cover

The decision of the Finance Committee, Ahmed Al-Saffar stressed that "the implementation of Law 12/1 is not permissible in such circumstances, because the general situation of the country differed, and everything related to revenues, oil prices and exchange gates also changed, so without a budget approval the government is not entitled to receive any revenue , And the only legal cover is the budget law

He said that "the committee communicates with each other via the Internet because of the health status of the Corona pandemic and the disruption of the council." Of the investment approved by the House of Representatives within the borrowing law, and up to 15 percent of the amounts borrowed for ongoing projects in the 2019 Budget Law, and approved in the House of Representatives, with work to prepare the budget of 2021, both operational and investment, and that is the legal solution

Al-Saffar reiterated that "the government should focus on the operational side of the semi-annual budget, as well as focus on the investment side for 2020 relocating to the budget of 2021, and that the government start preparing a draft budget for 2021

It is reported that yesterday, Tuesday, June 30, the supposed legal period for sending the general budget to 2020 to parliament expired without accomplishing this, so that parliamentary requests to prepare it for six months or a month only come

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

[DinarThug]

LINK

Parliamentary Finance: After delaying the budget, the
government will rely on the interim or semi-annual
 

The Finance Committee of the House of Representatives suggested that the government prepare a semi-annual budget for the next six months remaining of this year 2020 and send it to the House of Representatives for approval, in order to conduct the state’s financial affairs, after yesterday, Tuesday 30 June, the legal period supposed to send the general budget to 2020 has expired Parliament without accomplishing this.

The decision of the Parliamentary Finance Committee, Ahmed Al-Saffar, according to the official newspaper, said that "the committee was waiting for the government to send the budget to the parliament yesterday, Tuesday 6/30 according to the scheduled date."  He emphasized that "the government should not rely on the 12/12 monthly budget for 2019, because the disbursement and revenue process needs a legal cover represented by the budget law," explaining that "either a monthly budget is approved, or a bi-annual budget law is sent for approval in the House of Representatives."  He added that "work without the presence of a headquarters budget law; will not allow the House of Representatives to exercise its oversight role over spending and revenue, so we are waiting for the government’s opinion." The government can provide liquidity to implement its obligations, and that what is related to spending and revenue must have legal cover."

Al-Saffar reiterated that "the implementation of Law 12/1 is not permissible in such circumstances, because the general situation of the country differed, and everything related to revenues, oil prices and exchange gates also changed, so without a budget approval the government is not entitled to receive any revenue, and the legal cover The only one is the Budget Law." He pointed out that "the committee communicates with each other via the Internet because of the health status of the Corona pandemic and the disruption of the council," noting that "the proposals that the government must legally put in place are that the government works to send a semi-annual budget for the next six months; it includes the operational budget only And part of the investment approved by the House of Representatives within the borrowing law, and up to 15 percent of the amounts borrowed for ongoing projects in the 2019 Budget Law, and approved in the House of Representatives, with work to prepare the budget of 2021 with both its operational and investment aspects, and that is the legal solution.”

Al-Saffar stressed that "the government should focus on the operational side of the semi-annual budget, as well as focus on moving the investment part for 2020 to the budget of 2021, and that the government start preparing the draft budget for 2021."

[horsesoldier]

These fools screw up a wet dream every time  

[hawk-eye-view]

This did jump out to me as sounding interestimg...especially with Thuggies orange 🍊  highlighting skills !