Parliamentary Finance: The government's economic reform paper will be presented at the end of this September

[screwball]

Oh ecobomic reform paper mid October? Boom baby come back to my room!

[yota691]

{A reform package} is imminent in the 2021 budget

Wednesday 16th September 2020 148

 

  Baghdad: Morning

 

Prime Minister Mustafa Al-Kazemi is likely to present the "reforms paper" he promised, as part of next year's budget law. Member of Parliament Jamal Cougar explained to "Al-Sabah", "The beginning of the real reforms will be with the 2021 budget, and this means that the prime minister wants parliament to vote on it as a mandate through the staircase of reform clauses in the 2021 budget law." He added, "The Prime Minister informed Parliament to send a draft of the government reform paper he promised at the end of this month, followed by another paper in the middle of next month, provided that the implementation of these reforms will be postponed until the beginning of next year."

Returning to the 2021 budget, Cougar explained, that it is "austerity and it will be a very difficult year for Iraqis if oil prices remain low in light of the Corona pandemic, so it will be very tired and has a large deficit and many debts," indicating that the government is under severe pressure from the parties and the street as well as the economic situation Regarding the 2020 budget, a member of the House of Representatives explained, "The Cabinet will finish it at the end of this week and it is assumed that there will be a session of Parliament next week regarding it."

[Johnny Dinar]

Oh if only their "real" was the same as my "rea"... You know like real value...

[yota691]

Parliamentary Finance pledges the country's economic reform with a paper to be presented within weeks

 

 

- 09-17-2020 01:41 PM - Readings: 6,538

The Parliamentary Finance Committee pledged, today, Thursday, to reform the financial system and address the problems of discrepancies in salaries of state employees and retirees, on the implementation of the economic reform paper to be presented by it in the coming weeks.

Committee member Jamal Ahmed Cougar said, "The contents of the economic reform paper agreed upon and decided by Parliament and the Ministry of Finance include amending the salary scale and ending the discrepancies and discrepancies between the salaries of state employees and organizing the retirement pay lists and the Federal Service Law." So far, the economic reform paper due to be presented on the fifteenth of next month.

Cougar pledged "the application of the reform paper to the extent of the government's seriousness in implementing it within the 2021 budget or the 2022 budget as far as possible," considering "

He added, "Failure to implement the reform paper is a threat to the country's financial system and exacerbate new problems in the coming years."

[yota691]

Parliamentary Finance: The government reform paper will draw the financial map for the next year

by Editor Iraq news 2 Hours ago

The Parliamentary Finance Committee confirmed that approving the budget of twenty-two thousand will fulfill many demands, noting that the government reform paper will draw a new financial map for the next year.

The committee confirmed in a statement that the government reform paper will have a great impact in preparing the budget of two thousand and twenty one, indicating that this paper needs to be patient, study and planning in order to deliver a real paper on which all state institutions rely and achieve goals and draw a new financial map, in a way that secures salaries It provides requirements for investment projects.

[DWS112]

23 minutes ago, yota691 said:

this paper needs to be patient, study and planning in order to deliver a real paper on which all state institutions rely and achieve goals and draw a new financial map

NO time for this!

[yota691]

Parliamentary Finance: Approval of the current year’s budget will fulfill many demands

Economie

2020-09-25 | 04:28

 

2,805 views

On Friday, the Parliamentary Finance Committee saw that the government reform paper would draw a new financial map, while it indicated that the approval of the 2020 budget will achieve many demands, including new appointees and free lecturers.
 

The official agency of the committee reversed its stipulation, that “the government reform paper will draw a new financial map,” stressing that it (the original paper) needs deliberation, study, planning and consultation. ”It

noted that“ approving the 2020 budget will achieve many demands, including new appointees and lecturers Free and covered by Resolution 315. "

[yota691]

Salah Al-Shami: Identifying the economy precedes any reform process

Wednesday 30 September 2020 69

 

  Baghdad: Hussein Thahab

Economic expert Salah Al-Shami called for the need to define the country's economic identity, and then initiate reform processes and move towards sustainable economic development that can be achieved thanks to the country's possession of the ingredients for success and advancement of the national economy.

He added, "There is a question that preoccupies the majority about what the Iraqi economic identity is and whether it tends to the socialist scale in terms of the presence of the public sector represented by state companies and their factories and the rest of the institutions operating in them, as well as the size of employees who receive their enormous salaries on the budget with little practical return for them or that the scale of the Iraqi economy is tilted. To the private sector and the many different problems it suffers that have pushed it to retreat and confusion. " 

 

 

 

Laws and instructions

He pointed out that "the mixed sector is a long talk about it, and the imaginary conclusions from laws and instructions that have nothing to do with reality led to the decline of this joint, which used to enhance the local market with many quality products that formed a close relationship with the Iraqi family." 

Al-Shami added, "It is preferable for us to go towards translating creative Islamic ideas in various fields, especially Islamic ones, into a tangible reality that we can all benefit from in creating an Iraqi economic and Islamic identity that can be the starting point for the desired reform that would benefit the country." 

 

Profit and loss

 He explained, "The need to start from where the others have ended, because the Islamic bank is the best solution according to the preference of Mr. With the management of the bank and taking the fees and profits appropriate for both parties and according to the signed clauses in the initial contract, this idea gives us many and many benefits and achieves benefit, especially since the country now has a large Islamic banking system that must support the sustainable development process that the country seeks through financing large projects in 

Country. " 

 

National product

He continued, "If the work is done in this unprofitable bank, then we will have gone an important way in the desired economic reform and put the train on the tracks, and then the other measures will start, which are Islamic insurance and the public and private sector, so that the wheel of work will start to turn again and the national product for the individual will rise and benefit is achieved."

 For everyone".

[yota691]

Significant challenges face Kadhimi’s economic reform project

The economic reform project that Mustafa al-Kadhimi's government is supposed to propose soon faces great challenges related to the need to get parliament’s approval before taking any step.

 

 Iraq's Prime Minister Mustafa al-Kadhimi, mask-clad due to the coronavirus pandemic, looks on during a joint press conference with the French president in Baghdad on Sept. 2, 2020.  Photo by GONZALO FUENTES/POOL/AFP via Getty Images.

Mustafa Saadoun

@SaadoonMustafa

 

Sep 29, 2020

Mustafa al-Kadhimi’s government is working on presenting an economic reform plan in the coming days, at a time when Iraq faces complex economic crises most notably related to the need to secure $3.6 billion per month in salaries for about 6.5 million employees and retirees, a government source told Al-Monitor.

Iraqi Finance Minister Ali Allawi was supposed to present the economic reform proposal to the House of Representatives on Sept. 15, but he did not, arguing that he is awaiting the approval of the domestic and foreign borrowing law. He promised to submit the proposal by the end of this month.

An Iraqi government source told Al-Monitor, “Ali Allawi, Iraq’s deputy prime minister and minister of finance, is working on the economic reform proposal with the help of independent experts. We believe that Iraq is in constant need of economic reform, and this is not easy, especially considering the current circumstances. However, these challenges do not necessarily impede reform. When our economy was in good shape and we were selling oil at a price of $120, there was no reform. On the contrary, corruption was rampant. Therefore, these challenges may impose economic reform on everyone.”

He added, “The government cannot create in a short period of time new financial resources other than oil, so it is working to fully control the border crossings to support the state budget. Also, Iraq is controlled by a political class that poses a challenge to reform, so the government needs independent decisions that do not necessarily go through the Iraqi parliament.”

The reform plan is supposed to include amendments to the salary scale, put an end to the discrepancy in salaries of state employees, and organize both the payrolls of retired employees and the Federal Service Law. This plan has garnered both domestic and foreign support and has been even backed by Ayatollah Ali al-Sistani who, on Sept. 13, said “serious and exceptional steps in combating corruption” must be taken.

 

On Sept. 13, the Iraqi Ministry of Finance website cited US Ambassador to Iraq Matthew Toller as expressing his country’s full support for the plans and procedures the Iraqi government is following, especially in regard to reforming and developing the economic and financial sector under the current circumstances.

However, the road to economic reform is lined with ruts amid the drop in oil prices and Iraq’s commitment to reducing its production in accordance with the OPEC+ agreement. This infers that Kadhimi’s government will be in constant need to borrow because public employees’ salaries cannot be fully available from the sale of oil. In the past two months, Iraq achieved $7 billion in revenue from the sale of oil, which is the amount it needs to pay employees’ salaries alone.

Iraq’s former Oil Minister Ibrahim Bahr Al-Ulum told Al-Monitor, “The current government is bearing the burden of the previous government’s pledge to reduce oil production in accordance with the OPEC agreement, and this will harm Iraq and may cause it to lose $50 billion during the next two years.”

“The reform that Kadhimi’s government is working on requires bold and harsh steps, and the country may not bear it at such a stage, especially with regard to reducing expenditures. So the government must focus its political and diplomatic efforts to get rid of the OPEC+ agreement burdens,” Bahr Al-Ulum said.

Allawi expected the Iraqi economy to contract by 7 to 9% this year, a figure that exceeds the International Monetary Fund’s (IMF) earlier forecast of 4.7%. This infers that the challenges facing the reform project Allawi is supposed to offer are very great.

Ali al-Mawlawi, a former researcher at Al-Bayan Center for Planning and Studies, told Al-Monitor, “The Iraqi government has not allocated sufficient political capital to overcome the economic crisis. The Minister of Finance may be fully committed to economic reform, but without sufficient support from the rest of the ministers, it will be very difficult for the government to overcome the political blocs resisting reform.”

“The government needs to be realistic about what it can achieve in the limited time it has left without deviating from issues that are no less important than salvaging the economy,” he added.

Kadhimi’s government is facing a major economic crisis left by the government of Adel Abdul Mahdi that worsened when the coronavirus pandemic affected the livelihood of Iraqis. Kadhimi tried to cut the salaries of employees but failed to do so. His plan to impose taxes failed after a wave of popular protests was accompanied by political opposition that prompted him to back down from such a plan.

Kadhimi is now working to control the border crossings, whose annual revenues are expected to amount to about $10 billion, according to the Economy Committee in the Iraqi Council of Representatives, as this would help him overcome a portion of the deficit plaguing the country’s budget and secure the salaries of state employees.

The government is now seeking to borrow about $5 billion from the IMF and $8 billion from internal banks. This indicates the size of the economic burden it faces and reflects its inability to reduce government expenditures. Over-staffing over the past 15 years has exhausted the Iraqi state. These jobs were always used for electoral purposes.

When Allawi visited London last month, he signed a memorandum of understanding with the British government on “technical support for economic reform.”

Al-Monitor learned that Allawi focused during his meetings there on supporting Iraq in the economic reform project and requested British support.

In other words, the reform plan that Kadhimi’s government will present will not be of any significance unless Kadhimi receives prior political backing for his decisions and steps through the House of Representatives. Parties opposing his views can easily mobilize the street against him if he considers cutting employees’ salaries or imposing taxes. More than half of the active community in Iraq has been hired in state institutions through parties.

[yota691]

With documents ... taxes achieve record revenues and make an important decision

Editing date: 02/10/2020 12:24 • 87 times read

(Baghdad: Where News) A deputy said that the General Authority for Taxes achieved record revenues last September.

Representative Alia Nassif praised, in a statement received by "Where News" agency, a copy of it, "the successful measures implemented by the General Tax Authority, which contributed to increasing state revenues and facilitated the taxpayers' payment without sending detection and assessment committees, some of which inflicted damage to the state and citizens due to corruption."



She added, "Tax revenues last September broke a record by reaching 601 billion dinars, thanks to the excellent measures taken by the Director General of the Tax Authority, which included fighting corruption in the evaluation and disclosure committees. He reduced the battle against corruption by directing a fatal blow to the weak of souls and canceled this The committees opened the door for the taxpayers to come and pay the taxes they owed, and trust returned between the citizen and the General Tax Authority.



Nassif added, "We hope that the rest of the government agencies and ministries will follow the example of the General Tax Authority in facilitating procedures for citizens and bypassing routine episodes, with an emphasis on combating the scourge of corruption and blocking the way for the spoilers, and within the next few days we will reveal to the Iraqi public opinion the corruption that was present in the authority during the state." The precedent, which we previously called on the Integrity Commission to open an investigation. "

[yota691]

In the document ... tax revenues for the past month

Economie

2020-10-02 | 06:29

 

4,692 Views

The General Tax Authority announced, on Friday, that its revenues for the month of last September amounted to 601 billion dinars.
 

The authority said in a brief statement received by Alsumaria News with an attached document, "With the continuation of the anti-corruption wheel it has undertaken general tax authority Recently, it witnessed its revenues for the month of September 601 billion dinars. ”

Below is a copy of the document: