The Minister of Finance announces good news for two groups of Iraqi citizens

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The Minister of Finance announces good news for two groups of Iraqi citizens

 

Economy  ,   04/20/2020 22:11   , Number of readings: 1854

http://iraqtoday.com/ar/news/42828/وزير-المالية-يعلن-عن-خبار-سار-لفئتين-من-المواطنين-العراقيين?latest

 

 

Baghdad - Iraq today:

With the announcement of the new Iraqi government of its intention to implement broad reforms to address the economic and financial crisis facing Iraq, the Deputy Prime Minister and Minister of Finance Ali Allawi specified the size of the challenge and the general principles upon which the government reform program will be based.

And renewed d. Allawi, the government's commitment to protect the income of public sector employees and retirees of low and middle income, saying that “the poor and middle classes responsible for the state directly are a red line and their salaries will never be touched or retired. This is a decision taken from the beginning, and these two Iraqi groups resolved the matter regarding them. ”

He affirmed that“ the reform program seeks to support low-income groups who work outside the state institutions as well. ”

The Deputy Prime Minister stated that "this can be achieved by building a valid environment that encourages self-employment and investment, the private sector, merchants, craftsmen, businessmen and industrialists, and that this would create a real protection network for citizens."

And d approved. Allawi said that "the investment environment in Iraq is deficient and does not encourage foreign and Iraqi investors, which increases the need to start implementing reforms to address these defects and remove any obstacles and restrictions that hinder the private sector and undermine investment."

The Deputy Prime Minister and Minister of Finance diagnosed the main challenges facing the country, saying that it is "losing revenue, excluding oil revenues, oil gives us 92% of the state's resources, and we do not have any other revenues. The whole country and the state and Iraq as a whole budget is based on oil prices and the amount of oil exported."

He added that the financial deficit is caused by “the state’s expenditures are much more than its revenues” in addition to other factors such as waste of public money and mismanagement, and for this the government will work to rationalize public spending and stop waste and tackle corruption, but he stressed that “the deficit exists, and as a result we will go to borrow from sources Domestic and international, however, borrowing is not a long-term solution.

Allawi said that the government is in the process of preparing a comprehensive and integrated program to reform and develop the Iraqi economy, adding that this "program will be presented in a white paper to the parliament during the next three months."

The reforms will include all productive and service sectors in the Iraqi economy and aim to diversify the sources of state revenues by stopping waste of public money and increasing income from customs and direct taxes, according to Allawi.

Among the most prominent elements of the reform program are the development of the private sector and its liberation from bureaucratic restrictions and other factors that have restricted its work for a long time so that it can play its primary role in the economy, and helps to provide sustainable job opportunities and a decent life for all Iraqis.

He emphasized that with the growth of the private sector, job opportunities will also increase and the level of local production will rise. ” Turning to the priorities of the other government, he made it clear that the government is continuing to work for early, free and fair elections, but he stressed that implementing economic and financial reforms would create the appropriate environment for other political, electoral and social reforms that the government intends to carry out.

 

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Parliamentary Finance issues a statement regarding employees' salaries for the month of June

Editing Date: 7/4/2020 16:56 • 145 times read

Ayna News - Baghdad
http://www.alliraqnews.com/modules/news/article.php?storyid=95129
The Ministry of Finance announced today, Saturday, the direct launch of employee salaries for the month of June.

The ministry said in a statement that, "Under the direction of the Minister of Finance Ali Allawi, the Accounting Department has started to launch private financing for the salaries of the month of June."

He added that "the Accounting Department has started to walk in the salary financing transactions since last Wednesday, 1/7/2020, and it continues to do so until the completion of all salary financing transactions for the month of June."

The Parliamentary Finance Committee has stated that the road has been clear for the federal government to launch the employees ’salaries for the month of June this week, after the Presidency’s approval of the domestic and foreign borrowing law to fill the fiscal deficit for the year 2020.

The law allows the government to borrow $ 5 billion and 15 trillion dinars to pay The fiscal deficit for the year 2020.

The Iraqi Finance Minister Ali Allawi, had told the French Press Agency, on Wednesday, that the Iraqi economy may face "shocks that it will not be able to address" unless reform measures are adopted in less than a year, stressing that 40 million Iraqis will have to They are subject to a tight austerity policy that may last for two years, and expectations indicate that the Iraqi economy will face a 10 percent contraction during the year.

With one out of every five Iraqis receiving government aid, the bill becomes heavier for the country that depends on paying all its expenditures on oil sales revenue

Edited July 5, 2020 by 6ly410

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Parliamentary Finance: The salaries of employees are launched and will be disbursed tomorrow

https://www.ikhnews.com/index.php?page=article&id=220612

Baghdad News:
A member of the Parliamentary Finance, Muhammad Sahib al-Darraji, confirmed on Saturday that the salaries of state employees were disbursed by the Central Bank of Iraq, indicating that the finance will distribute the salaries tomorrow.
Al-Daraji said in a televised statement, followed by "Al-Ikhbaria", that "the Central Bank of Iraq has released the employees’ salaries completely and will be delivered within the next few hours. "
He added that "Al-Rasheed and Al-Rafidain Bank is awaiting notification by the Ministry of Finance to disburse these sums, and the exchange dates will be corrected at the usual times from the government."
Darraji said that "the talk about the existence of financial crises regarding salaries is incorrect and the salaries will be disbursed for the next three months without any problem, provided that the government will act in the coming months according to an economic reform plan."

 

 

Edited July 5, 2020 by 6ly410