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The Draft Federal Budget Law For The Year 2020 !


DinarThug
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Governor of the Central Bank of Iraq meets with the President of the Supreme Judicial Council

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17th September 2020

 

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Al-Kitab, met with the President of the Supreme Judicial Council, Judge Dr. Fayeq Zidan
 
During the meeting, His Excellency the Governor of the Central Bank confirmed that a thoughtful banking plan had been developed that would develop the work of the Central Bank, strengthen the national currency and  address negatives in cooperation with Courts concerned with joint work with the Central Bank
 
In turn, the President of the Supreme Judicial Council stressed during the meeting that choosing independent personalities from among the employees of state institutions to manage these  institutions gives an indication of the government's seriousness in following the professional institutional approach in building the state as well as emphasizing the importance of preserving the independence of  the Central Bank in accordance with the constitution and the Central Bank of Iraq law, stressing the need to adhere to banking laws, the Anti-Money Laundering and Terrorism Financing Law  and the instructions issued accordingly to build a solid banking sector capable of facing challenges - Financial, economic, and real opportunities  for development
 
The Central Bank of Iraq
Information Office

 

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Salaries of Iraqi employees ... a deputy determines who are included in the amendments to the reform paper

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10,962 Economie 09/15/2020 20:41 amm
Baghdad today - Baghdad Today, 

 

Tuesday (September 15, 2020), a member of Parliament and a member of the Parliamentary Finance Committee, Jamal Cougar, said that the reform paper prepared by the government for reforms will include an adjustment in the salaries of specific groups in the Iraqi state.

"The reform paper that the government of the Prime Minister, Mustafa Al-Kazemi, intends to present to Parliament will include a reform in the salary file that focuses on reducing the salaries of the higher ranks, without prejudice to the salaries of the rest of the employees," Cougar said in a televised interview. 

He continued, "It is expected that the Ministry of Finance will prepare a reform paper focusing on 4 points, to be delivered in mid-October."

He added that "the first point will be concerned with the structure of economic policy, the structures of ministries and the sections of exchange, while the second point will be stopping waste in budgets."

And that "the third point will include work to maximize resources and get out of the rentier state that is approved for oil imports by 95%," noting that "the fourth point will be the provision of an investment environment, in various regions of Iraq."

The Finance Committee in the House of Representatives revealed, earlier, that the government will send the first draft of the reform paper, consisting of several laws and austerity economic decisions, to the House of Representatives at the end of this September,adding that the final draft will be sent to Parliament in November next along with the Federal Budget Law for the year 2021. 

MP Jamal Cougar says, "The Minister of Finance, Ali Abdul Amir Allawi, pledged in his last meeting with members of the Parliamentary Finance Committee to submit the initial draft of the reform paper at the end of this September, which includes a number of austerity laws and decisions," indicating that "this reform paper will determine budgets. Specific to different areas. "

He added that "the first model of the reform paper that the government will present will be presented for discussion in a very narrow circle, and attendance in it will be limited to specific personalities such as heads of concerned parliamentary committees and some ministers," stressing that "the Minister of Finance committed himself to presenting an integrated reform program in the coming period." 

The House of Representatives had stipulated, in exchange for passing a draft law on domestic and external borrowing submitted by the government to pay the salaries of employees, retirees and social welfare, the Ministry of Finance sent the economic reform law within a period of sixty days after the vote on the borrowing law, but the government did not send it despite the end of the specified period. 

Couger added, "The Minister of Finance has also pledged to the Parliamentary Finance Committee to present the second draft or the second model of the reform paper for discussion in mid-October, provided that the discussion circle is wider than the first phase," adding that "the third stage of the reform paper will be attached to a bill." The federal budget for 2021, which will be sent to Parliament in November. 

The Finance Minister pledged to prepare the reform paper before the House of Representatives, but he admitted that the reform program will not be easy, as he said, "The economic reform program needs a long time because the economic situation in Iraq is going through embarrassment due to the repercussions of previous cumulative economic policies." He added that reform, after the paper was approved, "needs five years" of continuous and diligent work.

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Parliamentary Finance: Parliament needs two weeks to approve the 2020 budget

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17th September, 2020

 

Member of Parliament's Finance Committee, Jamal Cougar, revealed the date for approving the draft general budget for the current year, in preparation for solving a major crisis

Cougar said, "The Iraqi government obtained 15 trillion Iraqi dinars from internal borrowing, and fully satisfied it, while it was unable to obtain external borrowing of 5 billion US dollars

He added, "Iraq's failure to obtain the amount of external borrowing put the government in a crisis. Therefore, the federal budget was submitted to Parliament for approval, so that they can borrow more from home and abroad

Couger explained, "The general budget, after arriving in the House of Representatives, passes through 3 stages: a first reading, a second reading, then voting according to the law on the two readings and voting within a period of time not less than two weeks. Therefore in all cases the budget is delayed by Parliament at least 14 days

He alluded to "the reasons why Iraq was unable to obtain external borrowing," saying: "The IMF and the World Bank, and the countries when they give loans, have harsh conditions, because they impose agendas so the Iraqi government did not agree

A member of the Finance Committee in Parliament, a representative of the Kurdistan Islamic Union bloc, concluded, saying that "the other countries that had given loans and grants to the Iraqi state before, Iraq could not achieve its goals or objectives or the purpose of borrowing, so the conditions for external borrowing are either direct implementation or allocating funds." For certain projects, the government wants them to pay the salaries

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10 hours ago, DinarThug said:

The President of the Kurdistan Region affirms his support for the Al-Kazemi government and the stability of Iraq


Thursday 17th September 2020

 

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Baghdad: Morning
 
Yesterday, Wednesday, the President of the Kurdistan Region, Nechirvan Barzani, during his meeting with representatives of foreign consulates, affirmed his support for the federal government headed by Mustafa Al-Kazemi and the stability of Iraq, while stressing the implementation of the "federal system" as stated in the constitution.

Barzani also confirmed, according to a statement by his office, that "the Kurdistan region will always remain a factor of stability in Iraq and the region and wishes to develop its relations with neighboring countries on the basis of mutual respect and common interests." Large commercial and large economic activities with The two countries ».

In another aspect of the meeting, Barzani highlighted the "fears of the emergence of ISIS," and stressed the need for "continued international support for the region and Iraq in the face of terrorism and the importance of coordination between the Peshmerga forces and the Iraqi army, especially the areas covered by Constitutional Article 140."


Barzani pointed out that "the policy and orientations of the region on the basis of protecting the security and stability of the region," stressing "dialogue and joint action to overcome crises and help the displaced and refugees to return to their areas of origin."

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Baghdad sends one billion dinars to Erbil as financial dues to farmers

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17th September, 2020

 

The Director of Silo, Erbil Governorate, Hayman Sayed Murad, announced, on Thursday, that the federal government has sent more than one billion dinars in financial dues, for marketing the wheat crop from farmers in Erbil during the current year 2020

The governorate website quoted Murad as saying that the amount is one billion and 85 million dinars, pointing to the start of distributing the sums to farmers next week

The spokesman for the Prime Minister, Ahmed Mulla Talal, confirmed on Tuesday that the 2021 budget will prove the Kurdistan Region’s share of oil and consolidate the agreements that took place in the past

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Foreign Ministry Calls On Europe To Remove Iraq From The List Of Financing Terrorism And Money Laundering

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17th September, 2020


Foreign Minister Fuad Hussein renewed the call for the European Commission to remove the name of Iraq from the list of high-risk countries in the field of terrorist financing and money laundering.

"Minister Fouad Hussein met with Josep Borrell, the High Representative for Foreign Policy and Security in the European Union at the European Commission headquarters in Brussels," the Foreign Ministry said in a statement, which the Independent received a copy of today, Thursday, explaining that "the minister appreciated the European Union's stances in support of Iraq in the developmental fields." And praising the Union’s keenness to provide political and economic support to Iraq, especially its assistance in the field of confronting the Corona pandemic and limiting its spread.

The statement added that "the two sides discussed the meetings of the Joint Committee for Human Rights and Democracy that were held between the two sides on 9/8/2020, and stressed the importance of the partnership and cooperation agreement concluded between Iraq and the European Union countries, as it represents the strategic framework for the relationship between the two sides", pointing to "the importance of The resumption of holding meetings of the remaining sub-committees resulting from the Partnership and Cooperation Agreement between the two sides, namely the Trade and Energy Committees.

The minister affirmed, according to the statement, “Iraq's commitment to the principle of respecting the sovereignty of states and non-interference in their internal affairs,” expressing his “absolute rejection of Iraq becoming an arena for conflict between the competing parties, or a starting point for aggression against any other country,” stressing “the need to support Iraq's efforts to be a factor of stability and harmony in the region and the world.

The minister touched on “the government's decision to hold early elections next June, and its aspiration to cooperate with international parties interested in this matter.”

The statement continued, "The two sides discussed the issue of removing Iraq from the European Commission’s list of high-risk countries in the field of money laundering and terrorist financing," again, “inviting the relevant authorities in the commission to accelerate the opening of a dialogue with the relevant technical authorities in Iraq; In order to complete the evaluation of Iraq's performance in this field, and remove its name from this list.

The Foreign Minister called on Borrell to visit Iraq as soon as possible to discuss ways to strengthen bilateral relations between the two sides.

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Iraq calls for the removal of its name from the list of high-risk countries  LINK

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Fuad Hussein from Brussels: Iraq is a promising country and holds the future, and we call on neighboring countries to
respect sovereignty

Fuad Hussein from Brussels: Iraq is a promising country and holds the future, and we call on neighboring countries to respect sovereignty
 

09/17/2020 17:12:09

Foreign Minister Fuad Hussein from Brussels, which is the second leg of his official tour in a number of European countries, explained that: Iraq is a promising country and owns the future, adding: We are trying to make it clear to neighboring countries that we want to establish balanced relations ... We ask neighboring countries to respect the sovereignty Iraq, and non-interference in its affairs.
 
This came when the Minister was hosted by the European Press Club in the Belgian capital, Brussels.
Indicating: that Iraq is looking forward to expanding its relations with European countries, and expanding cooperation with them in all fields, calling on European companies to invest, especially in the field of energy, and the oil and gas industries.

Noting that Iraq seeks to find balanced relations with neighboring countries, and not to use its lands against any neighboring countries, stressing the need to respect the sovereignty of Iraq, the sanctity of its lands, and not to interfere in internal affairs. Their affairs.

In response to the questions of a number of journalists, the Minister touched on the developments in the political and security situation in Iraq, noting that: Iraq has faced several challenges, including: terrorism, the decline in international oil prices, and the face of the Corona pandemic. Indicating: We are trying to deal with Corona virus in cooperation with different countries, pointing out that: The decline in oil prices has led to something similar to the economic crisis.

On the security issue, the Minister warned that the terrorist organization ISIS is still a threat to Iraq, neighboring countries and the world at large, and they are trying to reorganize themselves in Iraq, Syria and some African countries.
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2 minutes ago, Pitcher said:

I didn’t do nothing booster.  I’m innocent 


Ya - And Mrs Potato Head Didn’t Like That Comparison To Her Husband Of Maliki As ‘Mr Potato Head’ ! :o 

 

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‘Butt’ Don’t Get Behind Him When He Cuts The Cheese ...

 

:D  :D  :D 

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17 minutes ago, Pitcher said:

Good one Thugs.  I guess Iraq thinks they have a handle on their corruption.  


It Looks Like They Just Might Be Warming Up ! :o 
 

:D  :D  :D 

 

 

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The government launches an anti-corruption campaign to hold 1,000 people accused of corruption accountable

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17th September, 2020

 

The Iraqi government campaign began with the arrest of figures accused of corruption in state institutions, including ministers, deputy ministers, heads of investment agencies and businessmen, whose number is determined to be 1000

Iraq has a number of institutions that follow the file of corruption, such as the Integrity Commission, the Supreme Council for Combating Corruption, the Parliamentary Integrity Committee, and others, and the country occupies the last ranks in the classification of Transparency International

A member of the Parliamentary Economic Committee, Ali Al-Lami, said that the despicable quota system produced corruption by distributing positions to parties, indicating that there are 27 people accused of corruption who will be arrested in the coming days, including 2 ministers, heads of investment agencies, deputy ministers and general directors. He pointed out that more than 5,000 corruption files exist with the Integrity Commission, and all of them contain evidence, but the lack of will disrupted the issue of combating corruption

And Iraq entered more than a trillion dollars since 2003 until now, but the country is still living in economic decline as a result of rampant corruption, and a large number of Iraqis welcomed any measures that limit corruption. The Anti-Corruption Council has identified 1,000 individuals accused of corruption since it began operating during the previous government

Informed sources indicated that the arrest of the former head of the retirement authority, Ahmed Abdul Jalil and head of the Baghdad Investment Commission, Shaker Al-Zamili, is due to corruption files, noting that there are 4 former ministers who will be arrested during the coming days, especially since there is international coordination to recover the corrupt figures

Meanwhile, a member of the Parliamentary Integrity Committee, Alia Nassif, said that corruption in Iraq exists in the country's leaders, and they own economic bodies, and thus requires political will to eradicate corruption, noting that the black box for corrupt files is located in the Ministry of Oil. She emphasized that the contracts of the ministries of oil, electricity, trade and defense are marred by a lot of corruption, explaining that tax evasion has harmed the Iraqi economy, which is an important file of corruption

In the meantime, the head of the Reform and Change Foundation, Sabah Al-Kinani, said that corruption has become a reality in Iraq, and if there is an employee who is not corrupt, he fights and may be referred to retirement, explaining that there are contracts signed by state institutions, with fake companies under the pretext of social security for employees and retirees. Pointing out that one institution gives these companies amounts between 7-9 billion dinars per month. He noted that the arrest of the former head of the retirement authority, Ahmed Al-Saadi, was due to the signing of a contract with a fake company regarding social security, as 7 billion dinars were deducted a month from the retirees

Edited by DinarThug
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5 minutes ago, DinarThug said:

It Looks Like They Just Might Be Warming Up ! :o 
 

:D  :D  :D 

 

LINK

The Arrest Of The Director And Owner Of The Key Card Company At Baghdad Airport

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17th September, 2020


Security forces arrested, today, Thursday, the director and owner of the "Key Card" company, Bahaa Abdul Hussein.

A source stated in a press statement, that "a security force has arrested the director and owner of the (Key Card) company at Baghdad International Airport, when he intended to flee outside the country.
 

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A Security Force Arrested The Head Of The Baghdad Investment Commission, Shaker Al-Zamili

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17th September, 2020

A security source revealed, on Thursday, that a security force had arrested the head of the Baghdad Investment Commission.

The source said in a press statement, which was followed by the independent, that "a security force has arrested the head of the Baghdad Investment Commission, Shaker Al-Zamili."

The source added, "It is not yet known why Al-Zamili was arrested."

It is noteworthy that a security force arrested a few days ago, the former director of public retirement, Ahmed Al-Saadi, on the background of suspicions of corruption.

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12 minutes ago, DinarThug said:

It Looks Like They Just Might Be Warming Up ! :o 
 

:D  :D  :D 


And Cleaning House ! :o 
 

:D  :D  :D 
 

 

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The security services arrest the director of the state agricultural bank, his son, and ten employees in Baghdad
 


 

17th September, 2020

An informed source said, Thursday, September 17, 2020, that the security services have arrested the Director General of the Governmental Cooperative Agricultural Bank, Adel Khudair, and his son in the capital, Baghdad.

The source said in an interview received by Al-Masalla that a security force had arrested the bank’s manager, his son, in addition to other bank employees.  He added that the arrest of the bank’s manager, his son and the employees took place on the seventh of September, and the incident has not been announced yet.

In turn, the family of the bank appealed to the bank manager to know the place of his arrest, confirming that they did not have any information yet, whether about the reason or the place of detention. A security source revealed, on Thursday, September 17, 2020, that a security force had arrested the head of the Baghdad Investment Commission.

The source said that a security force had arrested the head of the Baghdad Investment Commission, Shaker Al-Zamili. He added that he did not know until now the reasons for Al-Zamili's arrest.

Iraq is witnessing a campaign of arrests, coinciding with the start of the work of the Supreme Committee to investigate major corruption files, headed by Lieutenant General Ahmed Abu Ragheef.

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A Security Force Arrests The Director Of The Agricultural Bank And His Son In Baghdad

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17th September, 2020


Informed sources reported that a security force arrested the Director General of the Governmental Cooperative Agricultural Bank, Adel Khudair, and his son in the capital, Baghdad.

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2 minutes ago, DinarThug said:

And Cleaning House ! :o 
 

:D  :D  :D 


And Just Let Us Know When They Get To The Big Fish ! :o 
 

:D  :D  :D 

 

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London Newspaper Al Arab Discusses Maliki's Visit To Iran

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16th September, 2020


A press report discussed, on Wednesday, the visit of the head of the State of Law coalition, Nuri al-Maliki, to Iran, which was shrouded in secrecy before his coalition revealed some of its details.

The report, published by the London-based Al-Arab newspaper, linked the visit to the attacks launched by armed factions in the capital, Baghdad and other cities, and saw in it a “new political move, sponsored by the guide of the Islamic revolution, Ali Khamenei personally, and aimed at confusing the self-distancing policy adopted by the Iraqi government.”

The text of the report follows....

The State of Law Coalition was forced to reveal some details of its leader Nouri al-Maliki's secret visit to Iran, after news leaked that it was linked to a new political move, sponsored by the guide of the Islamic Revolution, Ali Khamenei, personally, and aimed at confusing the policy of distancing himself adopted by Iraqi Prime Minister Mustafa Al-Kazemi.

Al-Maliki's office said that the latter arrived in Iran on Sunday "on a private visit that takes several days," noting that Al-Maliki, who leads the Islamic Dawa Party in Iraq, will meet "a number of Iranian officials, and he will also conduct routine medical examinations during the visit."  Al-Maliki's office in Baghdad found itself surrounded by questions, after it was leaked that the leader of the rule of law had left for Tehran on a secret visit, to meet with the Leader of the Islamic Revolution, Ali Khamenei, and officials in the Revolutionary Guard, led by Ismail Qaani, the commander of the Quds Force in the Revolutionary Guard, in charge of managing the Iraqi file.

The questions related to the extent of Maliki's visit to Tehran related to a political move in Baghdad aimed at putting pressure on Al-Kazemi, or pushing towards withdrawing confidence from him, if he did not review his efforts to move away from Iran and approach the United States and Saudi Arabia.

Political sources in Baghdad say that Al-Kazemi's confrontation in the media will not end in the interest of the political forces close to Iran, especially the Islamic Dawa Party, the State of Law coalition and armed militia leaders, because of the relative popular support that the Prime Minister currently enjoys, especially within the Shiite youth circles, which means the necessity Searching for a replacement.

The Iraqi writer Farouk Youssef believes that, in the stage of the confrontation with the Al-Kazemi government, Iran needs to restore the services of Al-Maliki, whose presence became ghostly after his services were dispensed with at the local level. Youssef said in a statement to “Al-Arab” that Iran knows that Al-Maliki will do whatever it asks for him because of his difficult circumstances. Therefore, it is counting on him in the process of spreading internal chaos that will be accompanied by bombing operations that may affect Iraqi forces in addition to US interests.

In response to a question, will Maliki succeed in his endeavor? Youssef said that this is not guaranteed because many of the men of the Dawa Party have turned away from around Al-Maliki and considered it a burnt card, stressing that Iran will not lose anything, as Al-Maliki is not its only bet.

The political and militia forces affiliated with Iran believe that mixing the cards at the security level may confuse Al-Kazemi's calculations and make him appear impotent, ahead of an election, which may be decisive in determining the weights of the active forces in Iraqi political affairs. For this reason, the militias have intensified their operations targeting the international coalition forces and the US forces in Iraq, without publicly adopting the operations.

Late on Monday evening, unidentified assailants launched a violent missile attack on the US embassy building in the fortified Green Zone, in central Baghdad. One of the missiles fell in the vicinity of the embassy, while the US air defenses confronted other missiles, through intermittent bursts of projectiles, which lasted for minutes and caused a lot of anxiety in the vicinity of the confrontation site, which is in the middle of the most important and densely populated areas of Baghdad. Such developments cast doubt on the ability of the Iraqi government to effectively establish security, secure diplomatic missions and protect civilian and military institutions.

Political sources say that Maliki's visit to Tehran may include understandings with Khamenei and the leaders of the Iranian Revolutionary Guards regarding the increase in security escalation against the Al-Kazemi government in Baghdad, under the pretext of resisting the occupying American forces.

Al-Maliki is one of the main political fronts of what is known as the Islamic Resistance Project run by Iran in the region, but he is keen to separate himself from the militia figures, in the media, so that he does not pay the public tax. Thanks to al-Maliki, many militias, when he was prime minister between 2006 and 2010, begot, if he contributed to the release of many of their leaders detained in Iraqi and American prisons during that stage, and provided support for many of them to develop recruitment and arming.

Al-Maliki encouraged those accused of cases related to the sectarian violence in 2006 to defect from the Mahdi Army militia, which was founded by the cleric Moqtada al-Sadr, and to form new armed groups, such as Asaib Ahl al-Haq and the Nujaba Movement, among others.  Al-Maliki, who is particularly revered in Tehran, is betting on a strong return to the forefront of the Iraqi political scene in the next stage, after he was marginalized in the last six years under pressure from the supreme Shiite cleric Ali al-Sistani.

Sistani believes that Khamenei used Maliki for several years to push the Shiites of Iraq to fight bloody conflicts in Syria and Yemen on behalf of Iran. Observers say that al-Maliki wants to be ready to jump in order to fill any political vacuum resulting from an expected security escalation in Baghdad, with the approaching elections, and the desire of pro-Iranian militias to set off conflicts that highlight the government's impotence. 

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Al-Kazemi stresses the importance of strengthening the government's efforts in fighting corruption and supporting the security services

 
09/17/2020 18:06:47
 
 
Today, Thursday, the Ministerial Council for National Security held its twenty-second session, chaired by the Prime Minister and Commander-in-Chief of the Armed Forces, Mustafa Al-Kazemi.

 

The government statement stated, "Al Furat News" received a copy of it, "At the beginning of the session, Al-Kazemi spoke about the results of his visit to Maysan Governorate, yesterday, Wednesday, and the importance of strengthening social security in this governorate and all governorates, stressing the urgent need for a national policy for social security." To immunize young people from delinquency and falling into crime, and to protect them from threats and dangers that threaten society.
 
Al-Kazemi stressed "the need for serious work in order to provide job opportunities for young people, by activating investment in all governorates, and granting investing companies real opportunities for work and construction and providing means of protection for them." 
While he stated that "during his visit to Maysan Governorate and the rest of the governorates, he sensed the desire of all citizens to impose the law and support the government's efforts in its campaign to eliminate uncontrolled weapons, which is the desire of tribal leaders as well, who emphasized the need for the rule of law to be supreme and everyone sheltered under its cover."

The Prime Minister also indicated, "the importance of strengthening the government's efforts in combating corruption, supporting the security services in pursuing those involved in corruption operations, imposing state authority, extending stability, and providing a safe environment for the work of investment companies."The statement continued, "The council discussed the issue of the displaced inside and outside Iraq, and the need to expedite its resolution within an effective national plan. It also discussed the human rights file in Iraq, strengthening social security and achieving stability in all governorates. The council also discussed the topics on its agenda and took appropriate decisions regarding them." 
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Lol - Somebody Needs To Tell This So Called ‘Expert’ That Iraq Doesn’t Have Inflation ! :o 
 

 

Which Is The Only Reason Why Countries Ever Reduce Their Currency Value ...

 

:D  :D  :D 
 

 

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100 US dollars is equivalent to 100 Iraqi dinars .. Is it possible? An economic expert answers


 

17th September, 2020


The economic expert, Salam Sumaisem, said that the government is now obliged to reduce the value of the Iraqi dinar against the dollar in order to obtain greater quantities of Iraqi money against the dollar without printing more and thus preserve the currency from collapsing.

In an interview with the "obelisk", Sumaisem said that in the pre-2003 era, the currency was printed without cover and in large quantities, and it was reduced without a balance. Today, it can be reduced with a balance, indicating that this reduction increases the amount of exports because it pays people who They import from abroad to the demand for local goods, which will lead to a devaluation of the currency and the demand for it becomes more.

Several countries resorted to writing off zeros of their currency, with the aim of restoring some confidence in the national currency by trying to absorb inflation represented by high prices and the erosion of purchasing value.

Sumaisem indicated that the time is not appropriate to manipulate zeros or the currency because its value will change, and with regard to removing zeros, this requires monetary stability and that was decided during the era of Sinan al-Shabibi administration of the Central Bank.

The economic expert called for improving the status of the dinar so that every 100 dinars would be equal to 100,000 Iraqis, and thus raising the zeros so that every 100 dollars equal to 100 Iraqi dinars, and thus the dinar would be equal to the dollar.

But Sumaisem believes that raising the zeros is not possible at the present time, due to the monetary and economic crisis that Iraq suffers from.

And deleting zeros from the currency is the process of replacing the old currency with a new one whose price is less than the old currency by the number of zeros that will be deleted, for example deleting three zeros from the Iraqi currency means that one dinar from the new currency is equivalent to 1000 dinars from the old currency.

The Iraqi Minister of Finance proposed reducing the price of the Iraqi dinar as a measure to confront the financial crisis, as Sumaisem believes that this proposal will be the closest scenario .. and will prevent compromising the storage in the central bank.

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Agenda for the parliament session on Saturday

Agenda for the parliament session on Saturday
 
09/17/2020 15:31:16
 
Parliament will hold its regular session next Saturday.

 

Parliament's information department published the meeting's agenda.

The schedule was devoid of the draft law of the state's general budget for the year 2020 after it was approved by the Council of Ministers and referred to the Council in an extraordinary session held last Monday.

 

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Parliamentary Finance: The government stops paying salaries "almost impossible"

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14:11 - 09/17/2020

Member of the Parliamentary Finance Committee, Representative Jamal Cougar, confirmed, on Thursday, that the federal government stops paying salaries is almost impossible.

Cougar said in a statement to "the information", "Iraq is a country that has financial capabilities and resources and is able to borrow in order to secure the salaries of its employees during the coming period because it is simply unable to cope with six million and 500 thousand employees and retirees."

Cougar added, "The payment of salaries will continue in any case, and talking about the possibility of stopping them is almost impossible, I believe," pointing out that "Iraq has large resources, if used according to a planning approach, solutions to the financial crisis will not be difficult."

And he has been suffering from stifling financial hardship in the past months with the collapse of crude oil prices and the repercussions of the Corona pandemic.  
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38 minutes ago, DinarThug said:

100 US dollars is equivalent to 100 Iraqi dinars .. Is it possible? An economic expert answers
The economic expert, Salam Sumaisem, said that the government is now obliged to reduce the value of the Iraqi dinar against the dollar in order to obtain greater quantities of Iraqi money against the dollar without printing more and thus preserve the currency from collapsing.

In an interview with the "obelisk", Sumaisem said that in the pre-2003 era, the currency was printed without cover and in large quantities, and it was reduced without a balance. Today, it can be reduced with a balance, indicating that this reduction increases the amount of exports because it pays people who They import from abroad to the demand for local goods, which will lead to a devaluation of the currency and the demand for it becomes more.

Several countries resorted to writing off zeros of their currency, with the aim of restoring some confidence in the national currency by trying to absorb inflation represented by high prices and the erosion of purchasing value.

Sumaisem indicated that the time is not appropriate to manipulate zeros or the currency because its value will change, and with regard to removing zeros, this requires monetary stability and that was decided during the era of Sinan al-Shabibi administration of the Central Bank.

The economic expert called for improving the status of the dinar so that every 100 dinars would be equal to 100,000 Iraqis, and thus raising the zeros so that every 100 dollars equal to 100 Iraqi dinars, and thus the dinar would be equal to the dollar.

But Sumaisem believes that raising the zeros is not possible at the present time, due to the monetary and economic crisis that Iraq suffers from.

And deleting zeros from the currency is the process of replacing the old currency with a new one whose price is less than the old currency by the number of zeros that will be deleted, for example deleting three zeros from the Iraqi currency means that one dinar from the new currency is equivalent to 1000 dinars from the old currency.

The Iraqi Minister of Finance proposed reducing the price of the Iraqi dinar as a measure to confront the financial crisis, as Sumaisem believes that this proposal will be the closest scenario .. and will prevent compromising the storage in the central bank.


And Here’s Her Picture ...

 

:D  :D  :D 

 

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Al-Halbousi discusses with the morning the postponement of the remaining payments of the debts owed by Iraq to Kuwait

 

Thursday 17th September 2020


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Parliament Speaker Muhammad al-Halbousi met today, Thursday, with the Kuwaiti Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah.
 
The meeting discussed bilateral relations between the two countries, strengthening means of cooperation in all fields according to mutual interests, as well as discussing the latest regional and international developments, and the importance of joint coordination to face the challenges that the region is going through, in light of difficult circumstances.
 
The meeting discussed the importance of coordination to create an effective operational mechanism. In order to follow up on the outcomes of the Kuwait Donors Conference, in order to support the reconstruction of Iraq and create new investment opportunities.
 
He also discussed with the Kuwaiti Prime Minister the file of the remaining payments from the debts owed by the Iraqi government to Kuwait, and the possibility of postponing their payment due to the financial crisis and the economic situation that the countries of the world are going through, including Iraq, as Al-Sabah promised that he would continue his efforts in this regard, and that it would be among their priorities, He pointed to the recommendations of the Emir of the country to support Iraq in all areas.

 

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The Ministry of Finance confirms the continuation of payments for all recipients via electronic payment cards

 

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1,112 Policy 09/17/2020 21:38 
Baghdad Today - Baghdad 

 

On Thursday, the Ministry of Finance confirmed the continuation of the payments of sums of money to all those who deserve it through electronic payment cards of all kinds. 

The media office of the Minister of Finance said in a statement, "The Ministry of Finance assures to the honorable citizens of the continuation of payments of sums of money to all those who deserve it through electronic payment cards of various kinds, and that any investigative or judicial procedures that affect individuals associated with companies providing payment cards will not affect at all the process of receiving the beneficiaries." For their money in the usual way and without any delay. " 

He added, "Al-Maliya takes this opportunity to also confirm that the measures recently taken by the government aim to impose the rule of law and order, in a manner that provides a fair, comfortable and impartial work environment, and preserves the rights of local and foreign investors, in accordance with the law."

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Parliamentary Finance: The deficit in the 2020 budget is in violation of the Financial Management Law

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09:30 - 09/18/2020

The Parliamentary Finance Committee indicated that the financial deficit in the current year’s budget is in violation of the new financial management law, pointing out that the government was very late in submitting the budget to Parliament as it must prepare the 2021 budget.

Committee member Jamal Ahmed said to/the information/, "The deficit in the 2020 budget contravenes the new Financial Management Law, which stipulates that the deficit may not exceed 3% of GDP."

"The government has prepared the 2020 budget, and it is assumed that the budget for the new year will be completed less than a month ago, as it must be submitted before October 15, according to the Financial Management Law," he added.

And that "Parliament will discuss two budgets within a month, and this is a record time during which a two-year budget should be resolved, and therefore there is a delay by the government in preparing the budget for this year after it was scheduled to be delivered more than a month ago."
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17 hours ago, DinarThug said:

Al-Halbousi discusses with the morning the postponement of the remaining payments of the debts owed by Iraq to Kuwait

 

Thursday 17th September 2020


alsabaah-45867.jpg

 

 
Parliament Speaker Muhammad al-Halbousi met today, Thursday, with the Kuwaiti Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah.
 
The meeting discussed bilateral relations between the two countries, strengthening means of cooperation in all fields according to mutual interests, as well as discussing the latest regional and international developments, and the importance of joint coordination to face the challenges that the region is going through, in light of difficult circumstances.
 
The meeting discussed the importance of coordination to create an effective operational mechanism. In order to follow up on the outcomes of the Kuwait Donors Conference, in order to support the reconstruction of Iraq and create new investment opportunities.
 
He also discussed with the Kuwaiti Prime Minister the file of the remaining payments from the debts owed by the Iraqi government to Kuwait, and the possibility of postponing their payment due to the financial crisis and the economic situation that the countries of the world are going through, including Iraq, as Al-Sabah promised that he would continue his efforts in this regard, and that it would be among their priorities, He pointed to the recommendations of the Emir of the country to support Iraq in all areas.

 

LINK

 

 

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Al-Halbousi confirms that Iraq is seeking to fully resolve the file of Kuwaiti prisoners and missing persons

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20:16 - 09/17/2020  
 

Parliament Speaker Muhammad al-Halbousi stressed during his visit to Kuwait and his meeting with officials, on Thursday, the need for coordination to resolve the file of Kuwaiti prisoners and missing persons.

In a statement received by the information, Al-Halbousi's office stated that “Parliament Speaker Muhammad al-Halbousi met with the Kuwaiti Minister of Foreign Affairs and Acting Minister of Defense Sheikh Ahmed Nasser al-Muhammad al-Sabah. On discussing the latest regional and international developments.

He added, "Al-Halbousi discussed in the meeting the strengthening of security, trade and investment cooperation between the two brotherly countries, in accordance with mutual interests."

With regard to the continuation of the efforts exerted in the file of Kuwaiti prisoners and missing persons, as it is a humanitarian file, Al-Halbousi affirmed that the Iraqi state is seeking to resolve this file completely.

For his part, the Kuwaiti Foreign Minister welcomed his sovereignty, conveying the greetings of the Kuwaiti political leadership to the government and people of Iraq, stressing his country's support for the Iraqi government in everything that achieves its stability, prosperity and preservation of its independence.
 

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Planning: The 2021 budget will activate revenues from taxes, outlets and productive sectors

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17th September, 2020


The Ministry of Planning confirmed, today, Friday, that the 2021 budget will address the problems in which previous budgets occurred, and will focus on activating tax revenues, border crossings and other productive sectors in addition to oil revenues.

"The budget for the current year 2020 will be operational only, to secure the necessary expenditures, such as salaries for employees and retirees, on the health side, the ration card, and other necessary expenditures," said the ministry's spokesman, Abdul Zahra Al-Hindawi, to the Iraqi News Agency. It will be approved by the House of Representatives this September."

Al-Hindawi added, "The investment side will remain dependent on the amount of revenues that will be achieved during this period," stressing that "there are quite a few stalled projects that need financial allocations to continue working in them." He pointed out, "There is a tendency to address all the problems of previous budgets, including the delay in approving the budget, which causes delay in the implementation of investment projects, as well as finding other sources with oil to supplement the budget and develop the country's economy, and include activating the revenues of border ports, taxes, the agricultural, tourism and industrial sectors." Alongside the private sector."

He explained, "The government is currently seeking to approve the 2021 budget, in which oil will be the main financier for the budget in its operational and investment sides," stressing that "the government is adopting a plan to strengthen relations with brotherly countries in the field of investment, and with international organizations to benefit from the experiences of those countries in the form of oil instead of Money, and with new financial methods and activating the role of other sectors."

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Planning: The 2021 budget will activate revenues from taxes, outlets and productive sectors  LINK

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