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Parliamentary Finance: The country's fiscal deficit is 6 trillion dinars per month


Mary B
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Parliamentary Finance: The country's fiscal deficit is 6 trillion dinars per month

 
 OCTOBER 26TH, 2020
 COMMENTSON PARLIAMENTARY FINANCE: THE COUNTRY'S FISCAL DEFICIT IS 6 TRILLION DINARS PER MONTH, CLOSED
 13 VIEWS
 
 

This week the second reading of the approval of the government loan law will be completed

Baghdad - Waad Al-Shammari:

The Finance Committee in the House of Representatives confirmed, yesterday, Monday, that the amount of the monthly deficit of Iraq reaches 6 trillion dinars, indicating that the passage of the fiscal deficit financing law depends on the reduction of the value of the loan that it implies, stressing that the second reading of the project will take place during the current week.

The committee’s rapporteur, Ahmad al-Saffar, said, “The House of Representatives agreed to complete the second reading of the fiscal deficit financing law during the current week.”

Al-Saffar added, in an interview with “The New Morning”, that “the government informed us that it is unable to disburse the employees’ salaries unless we complete this law, as it includes in its provisions obtaining new loans. ”

He pointed out, "The amount of what is included in the law is very large for what Iraq actually needs, especially since the treasury achieves monthly revenues, even if they are low, but amounts that reduce the rates of need for new debts."

And Al-Saffar, that "the amount of 41 trillion dinars to cover the expenses of three months is very large compared to the budget for a whole year, it represents about 40% of the budget.

He stressed, "Iraq achieves about 4 trillion dinars every month through its oil resources, direct and indirect taxes, and border crossings."

Al-Saffar stressed that "Iraq needs monthly to secure its necessary expenses, including the salaries of employees and retirees, to 10 trillion dinars."

And he goes on, that "the monthly deficit according to revenue figures compared to expenditures does not exceed 6 trillion dinars, which is less than half the amount that the government wants in the loan."

Al-Saffar continues, "The second reading will pass, without problems, and after that we will hold direct meetings with the government to see the truth about the amounts it wants and its expenditures."

Al-Saffar went on to say, "The current circumstance requires the government to put in place rapid economic plans aimed at maximizing the state's resources, and not relying solely on oil revenues."

In addition, a member of the Committee, Representative Jamal Cougar, said, in a statement to "The New Morning," that "the House of Representatives will not stand in the way of the government about any action that would improve the financial and economic situation of the country."

Cougar added, "linking salaries to the enactment of the disability law should be overridden by the government and not repeat the same scenario last month when it stopped paying employees' dues for about 45 days."

He mortgaged "the House of Representatives vote on the financing of the fiscal deficit law by reducing the amount of the loan you want. As for insisting on it, we will never allow that."

Cougar concluded, "the need to hold quick meetings with officials in the Ministry of Finance to discuss the draft law and come up with a text and an amount consistent with the actual need of Iraq."

It is noteworthy that the House of Representatives is currently discussing a draft law on financing the fiscal deficit sent by the government to avoid delaying the distribution of salaries to employees, retirees and the social welfare network.

http://newsabah.com/newspaper/245678

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43 minutes ago, Mary B said:

Parliamentary Finance: The country's fiscal deficit is 6 trillion dinars per month

 
 OCTOBER 26TH, 2020
 COMMENTSON PARLIAMENTARY FINANCE: THE COUNTRY'S FISCAL DEFICIT IS 6 TRILLION DINARS PER MONTH, CLOSED
 13 VIEWS
 
 

This week the second reading of the approval of the government loan law will be completed

Baghdad - Waad Al-Shammari:

The Finance Committee in the House of Representatives confirmed, yesterday, Monday, that the amount of the monthly deficit of Iraq reaches 6 trillion dinars, indicating that the passage of the fiscal deficit financing law depends on the reduction of the value of the loan that it implies, stressing that the second reading of the project will take place during the current week.

The committee’s rapporteur, Ahmad al-Saffar, said, “The House of Representatives agreed to complete the second reading of the fiscal deficit financing law during the current week.”

Al-Saffar added, in an interview with “The New Morning”, that “the government informed us that it is unable to disburse the employees’ salaries unless we complete this law, as it includes in its provisions obtaining new loans. ”

He pointed out, "The amount of what is included in the law is very large for what Iraq actually needs, especially since the treasury achieves monthly revenues, even if they are low, but amounts that reduce the rates of need for new debts."

And Al-Saffar, that "the amount of 41 trillion dinars to cover the expenses of three months is very large compared to the budget for a whole year, it represents about 40% of the budget.

He stressed, "Iraq achieves about 4 trillion dinars every month through its oil resources, direct and indirect taxes, and border crossings."

Al-Saffar stressed that "Iraq needs monthly to secure its necessary expenses, including the salaries of employees and retirees, to 10 trillion dinars."

And he goes on, that "the monthly deficit according to revenue figures compared to expenditures does not exceed 6 trillion dinars, which is less than half the amount that the government wants in the loan."

Al-Saffar continues, "The second reading will pass, without problems, and after that we will hold direct meetings with the government to see the truth about the amounts it wants and its expenditures."

Al-Saffar went on to say, "The current circumstance requires the government to put in place rapid economic plans aimed at maximizing the state's resources, and not relying solely on oil revenues."

In addition, a member of the Committee, Representative Jamal Cougar, said, in a statement to "The New Morning," that "the House of Representatives will not stand in the way of the government about any action that would improve the financial and economic situation of the country."

Cougar added, "linking salaries to the enactment of the disability law should be overridden by the government and not repeat the same scenario last month when it stopped paying employees' dues for about 45 days."

He mortgaged "the House of Representatives vote on the financing of the fiscal deficit law by reducing the amount of the loan you want. As for insisting on it, we will never allow that."

Cougar concluded, "the need to hold quick meetings with officials in the Ministry of Finance to discuss the draft law and come up with a text and an amount consistent with the actual need of Iraq."

It is noteworthy that the House of Representatives is currently discussing a draft law on financing the fiscal deficit sent by the government to avoid delaying the distribution of salaries to employees, retirees and the social welfare network.

http://newsabah.com/newspaper/245678

 

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9 minutes ago, Wheelman said:

 

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Seventh: In the event that the Presidency Council does not approve the laws, they are returned to the House of Representatives to reconsider the disputed aspects, and vote on them by majority, and sent again to the Presidency Council for approval, and in the event that the Presidency Commission does not approve the laws again, within ten days from the date of their arrival to it. It is returned to the House of Representatives, which may approve it by a three-fifths majority of its members, without objection, and is deemed ratified

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Parliamentary Finance warns of an economic setback due to the government's borrowing policy

17:57 - 10/26/2020
 
  
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Information / Special ...

The Parliamentary Finance Committee warned, on Monday, of an economic setback in Iraq , while calling for reducing the amount of government borrowing to cover the salaries of employees, retirees and social care only.

A member of the Finance Committee, Siham Al-Aqili, said to / the information / that "the amount provided for the government loan is exaggerated, an increase in expenditures, and is devoid of attempts to rationalize spending."

He added that "walking the amount of the government loan and the approach of borrowing without solutions will push Iraq to a long-term economic setback," calling for "rationalizing the amount of the loan and reducing it significantly."

Al-Aqili explained that "the Finance Committee and other committees in the House of Representatives are working to reduce the amount of the loan to some extent that secures the salaries of employees and retirees, social care and urgent needs."

The Parliamentary Finance Committee confirmed, last Saturday, that it will open an investigation into the doors of disbursing the previous loan and the state's incoming before approving the loan provided by the government.

https://www.almaalomah.com/2020/10/26/501921/

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Legal obstruction "waiting" for Iraq's borrowing of 41 trillion: salaries of employees are "currently available" ... the most dangerous is coming for future generations

2020-10-26
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Yes Iraq - Baghdad

A member of the Finance Committee, Ahmed Hama, said today, Monday (10/26/2020), that the general trend within the House of Representatives is not to accept the amount of the loan demanded by the government, which is 41 trillion dinars.

Hama stated, in a press statement, that "the problem facing us now is the discrepancy regarding the treasury revenues between what is announced through the Ministry of Oil and the Ministry of Finance data."

Hama added that "the general trend within the House of Representatives is not accepting the amount of the loan that the government demands, which means going for a reduction in it."

He noted that "the need is necessary to hold direct meetings with the relevant government agencies during the current week in order to reach the reality of expenditures and revenues, and in light of this we determine the value of the loan that paves the way for the distribution of salaries."

Hama added, "The House of Representatives does not aim, through the measures it takes, to disrupt the salaries of employees, but to find out the actual need for revenues."

He said, "The data available to us confirm that the government is able to distribute the salaries of employees depending on the amount of the previous loan, as well as what we get from oil revenues until the end of the year."

Hamma went on to say, "Parliament has completed the first reading of the draft, and now we have entered into direct and active discussions aimed at reaching a formula that is consistent with the public interest and does not negatively affect the future economic situation."

A member of the Parliamentary Finance Committee, Jamal Cougar, said today, Monday, that the salaries of this month have nothing to do with the draft law on financing the government deficit and will not be delayed in the event of delay in passing it.

Cougar stated in a televised interview that “the issue of linking employees’ salaries to the fiscal deficit financing project that the government sent to Parliament and it was read in a first reading is incorrect, indicating that the Minister of Finance has the power to borrow temporarily by issuing treasury bills to obtain the amount he needs to meet the deficit in financing Current month's salaries.

He added that "the Finance Committee will host the Minister of Finance and the concerned authorities in order to discuss the draft law on financing the fiscal deficit and reduce the amount of the loan that the government intends to obtain."

Last Saturday, 10/24/2020, the reporter of the Parliamentary Finance Committee, MP Ahmad Al-Saffar revealed the latest developments in the file for discussing the draft fiscal deficit law, and the possibility of voting on it in Parliament in preparation for the distribution of salaries for employees, retirees and those entitled to social care.

Al-Saffar said in a televised interview, "The Finance Committee understands the need for citizens to distribute their salaries without delay, and the government presented a mini-budget under the title of the Fiscal Deficit Bill."

He pointed out, "We are waiting for quick measures from the government to maximize revenues, and we have approved the first borrowing law, on condition that reforms are introduced."

He pointed out that "continuing to borrow is a dangerous matter for future generations," adding, "We want to host the Minister of Finance to explain the government's position on insurance of expenses, especially with regard to salaries and the salaries of retirees."

https://yesiraq.com/عرقلة-قانونية-تتربص-بأقتراض-العراق-41-ت/

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Khashan: The government is unable to find a solution to the financial crisis

09:10 - 27/10/2020
 
  
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Information / private

Independent MP Basim Khashan said that the Al-Kazemi government is unable to find a solution to the financial crisis that Iraq is going through , pointing out that resorting to the loan policy is not feasible and will mortgage Iraq's money in the long run.

Khashan said to "the information", "The Al-Kazemi government does not have a correct economic vision, and is unable to find a way out and a solution to the current financial crisis."

"Resorting to a borrowing policy is not feasible, and Iraq’s money will be mortgaged for many years, which makes it imperative for the government to open new economic doors to overcome the crisis," he added.

He explained that "the government's attempt to manipulate the hard currency and raise its value against the dinar will not yield positive results, and it is better to maximize the state's resources and provide the Iraqi currency to pay the salaries of employees." 25 n

https://www.almaalomah.com/2020/10/27/501993/

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Today is a first step towards resolving the fate of the salaries of the remaining three months of this year
 
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Economy News _ Baghdad

Today, Tuesday, the Parliamentary Finance Committee will hold a meeting for the purpose of discussing the fiscal deficit financing law, on which the fate of the salaries of the remaining three months of this year is linked.

 The Media Department of Parliament said in a statement that "Al-Iqtisad News" received a copy, that "Parliamentary Finance will hold a meeting tomorrow headed by the First Deputy Speaker of Parliament Hassan Al-Kaabi."

She added, "The meeting is for the purpose of discussing the law on financing the fiscal deficit."

 

Number of observations 3   Date of addendum 10/27/2020

https://economy-news.net/content.php?id=22404

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Parliamentary Finance: 150,000 "space" employees cost the state one trillion dinars
 
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Economy News - Baghdad

The Finance Committee in the House of Representatives reserved the amount required in the fiscal deficit law, amounting to 41 trillion dinars, while it confirmed that Parliament could approve 20 trillion dinars to secure salaries for the end of the current year.

Committee reporter Ahmed Al-Saffar revealed that there are 150,000 double-salary employees, indicating that addressing this issue will save more than a trillion dinars per month.

Al-Saffar said, "After examining the draft fiscal deficit law in the appendix of current expenditures, which includes 38 items, we found that some items could be postponed to the 2021 budget to reduce the loan amount that exceeds 41 trillion dinars," according to the official Al-Sabah newspaper.

He stressed that "it is impossible to approve it by the parliament or the parliamentary finance committee."

Al-Saffar added that "seven items out of the 38 are obligatory to spend during the next four months, including employee salaries, retirement salaries, indebtedness and debt benefits, ration card, medicine and a social protection network."

He indicated that it is "necessary items that the loan should include, and the rest of the current expenditures items will be transferred to the 2021 budget, to solve the salary problem as soon as possible by approving the fiscal deficit bill."

And he added, "In the event that salaries are provided, the government is obligated to pay the debts arising from the delay in salaries of employees."

 

Number of observations 10   Date added 10/27/2020

https://economy-news.net/content.php?id=22402

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 In numbers ... while the Finance seeks to borrow more than 2 trillion dinars of its money locked up in the vaults of 22 destinations
 
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Economy News _ Baghdad

The lack of financial liquidity in Iraq, which came due to low oil prices and increased expenditures, caused a tightening of the screws on the government and the Ministry of Finance, which began signs of its inability to fulfill its financial obligations towards employees, retirees, social welfare and other dues.

This prompted the Ministry of Finance and the government to embark on a very difficult adventure and to meet strong parliamentary and popular objections, represented by resorting to borrowing, and the benefits that the state will have to pay for many years.

Today, Tuesday, the Parliamentary Finance Committee will hold a meeting for the purpose of discussing the fiscal deficit financing law, which is linked to the fate of the salaries for the remaining three months of this year, headed by the First Deputy Speaker of Parliament, Hassan al-Kaabi.

It is possible that the Finance Committee will reduce the amount of borrowing from 41 trillion to less than 12 trillion, as the Finance Committee considers that the government needs more than 20 trillion to pay the salaries for the remaining three months, and by calculating the expected oil and non-oil revenues according to the Finance Committee, Iraq may achieve 12 trillion within 3 months.

While the government is sitting in a state of conflict with the Finance Committee and Parliament, the reports of the Bureau of Financial Supervision indicate that there are funds from the share of the Ministry of Finance and Treasury “locked up” with state-owned public companies that have not paid their debts and the Ministry of Finance dues from the profits made by these companies.

Economist Nabil Al-Marsoumi quoted in a blog post monitored by Al-Iqtisad News, asking: "Why did the Ministry of Finance not obtain its share of the profits of public companies?"

He added: “The annual report for 2019 issued by the Bureau of Financial Supervision indicates that many public companies have not paid the public treasury’s share of the profits made to them, some of which go back to previous years and which represent the treasury dues owed by a number of public companies affiliated with different ministries.”

And he stated that "it became clear from the report that 22 public companies did not pay the Ministry of Finance’s share, which amounted to 2,302 trillion dinars, at a time when the Ministry of Finance is complaining about the scarcity of financial resources that forced it to borrow internally to pay the salaries of employees."

https://economy-news.net/content.php?id=22405

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The government provides the Finance Committee with a list of the chapters for disbursing borrowing amounts ... and the numbers are under study

2020-10-27
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Yes Iraq: Baghdad

The Parliamentary Finance Committee announced, on Tuesday, that it sent a letter to the Ministry of Finance to inquire about the money paid after the borrowing law was approved, while it indicated that the Ministry of Finance responded and we are about to review the accounts.

 

Committee member Siham Al-Aqili said in a statement to the official agency that, “All members of the Finance Committee have an objection regarding the fiscal deficit financing law sent by the government, so there was an agreement to host Finance Minister Ali Allawi and Central Bank Governor Mustafa Ghaleb Mekhaif in Monday’s session, from In order to know the details of the amount ”.

 

She added that "the committee sent a letter to the Ministry of Finance, containing an inquiry about the amounts paid according to the chapters of disbursement, after the approval of the financial borrowing law", indicating that "after receiving the answer from the Ministry of Finance, the committee will review the accounts and decide."

 

The Finance Committee is scheduled to meet today, Tuesday, to review the borrowing law to finance the fiscal deficit and to amend and reduce borrowing numbers, in order to vote on the law that would allow the disbursement of salaries and dues.

https://yesiraq.com/الحكومة-تزود-اللجنة-المالية-قائمة-بأب/

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Parliamentary Finance requests inquiry about funds paid after the adoption of the borrowing law


Tuesday 27 October 2020 - 08:39


Baghdad - Waaa - Nassar al-Hajj
The Parliamentary Finance Committee announced Tuesday that it will send a letter to the Ministry of Finance to inquire about the funds paid after the adoption of the borrowing law.
"All members of the Finance Committee have an objection to the law on financing the fiscal deficit sent by the government, so there was an agreement to host Finance Minister Ali Allawi and Central Bank Governor Mustafa Ghaleb Scary, in order to know the details of the amount," committee member Siham al-Aqili told The Iraqi News Agency (AAP).
"The committee sent a letter to the Ministry of Finance, including a question about the amounts paid according to the exchange doors, after the adoption of the financial borrowing law," she said, adding that "after receiving the answer from the Ministry of Finance, the committee will be informed of the accounts and will decide."
The parliamentary finance committee is holding a meeting on Tuesday to discuss the fiscal deficit financing law.
"Parliament's finances will hold a meeting tomorrow, chaired by first deputy speaker Hassan al-Kaabi," the parliamentary information service said in a statement.
"The meeting is for the purpose of discussing the fiscal deficit financing law," she said.

https://www.ina.iq/115011/المالية_النيابية_تطلب_استفساراً_عن_الأموال_المدفوعة_بعد_إقرار_قانون_الاقتراض

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Parliamentary Finance reveals behind the scenes the extent of Parliament's acceptance of the internal borrowing law

10:25 - 10/27/2020
 
  
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The information / Baghdad ..

A member of the Parliamentary Finance Committee, Thamer Theban, revealed, on Tuesday, the scenes of the internal borrowing law and the extent to which the House of Representatives accepts it, indicating that so far the agreement has not been reached and there is a rejection of the required amount.

Theban said in a statement to "the information", that "Parliament has begun the first reading of the internal borrowing law to find out the extent to which the House of Representatives accepts it," indicating that "there is a rejection of the borrowing draft because the amount is overrated."

He added, "The state's oil and non-oil revenues reach nearly four trillion dinars per month, while the size of the operating budget is estimated at seven trillions," noting that "these figures reveal that the deficit amounts to three trillion per month and thus can be repaid from the previous local borrowing."

Theban pointed out that "there is a possibility of giving a loan to fill the deficit in salaries and ruling and necessary expenses."

The Planning Committee in the House of Representatives accused, on Monday, the government of not having a real vision to manage the financial situation in the country. Ended / 25 h

https://www.almaalomah.com/2020/10/27/502017/

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Tuesday, October 27, 2020 10:34 AM

 

A deputy reveals that there are 150,000 double-salary employees

Ahmed Al-Saffar
 
 

 

Committee reporter Ahmed Al-Saffar revealed that there are 150,000 double-salary employees , indicating that addressing this issue will save more than one trillion dinars per month.
Al-Saffar said: After checking the fiscal deficit bill in the appendix of current expenditures that includes 38 items, we found that some items can be postponed to the 2021 budget to reduce the loan amount that exceeds 41 trillion dinars, stressing that it is impossible to approve it by the House of Representatives or the Parliamentary Finance Committee. .
Al-Saffar added that seven items out of the 38 must be spent during the next four months, including “employee salaries, pension salaries, indebtedness and debt benefits, ration card, medicines and social protection network,” indicating that they are necessary items that the loan should cover, and the rest of the items of expenditures. The current budget is transferred to the 2021 budget, to solve the salary problem as soon as possible by approving the deficit bill
Financial.

He continued, "In the case of providing salaries, the government is obligated to pay the debts resulting from the delay in salaries of employees, and in my estimation, if the government is serious, it will decide in the first week of November the distribution of the salaries of the month of October, and after a week they begin to distribute the salaries of the month (11)." That is, the successive payment of salaries because the government has no argument if the specified loan amount is approved for the next four months.
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Tuesday, October 27, 2020 10:37 AM

 

Parliamentary Finance: The government extorts employees through the borrowing law

Parliamentary Finance
 
 

 

A member of the Parliamentary Finance Committee , Jamal Cougar, accused the government of continuing to practice extortion over the salaries of employees, indicating that the salaries of employees are not dependent at all on the borrowing law at all.

Cougar said, "The link between the internal and external borrowing law and the distribution of employee salaries is a provocation by the government."

"The government disbursed salaries last month without approving the law, which indicates that there is no link between salaries and the law, especially with the existence of a law that allows the Minister of Finance to issue financial permissions for a period of 180 days," he added.

Cougar said, "The government, through the budget and the external borrowing law, demanded large debts in excess of its actual need, which is against the law.
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With a capacity of half a million housing units .. Discovery of 10 new cities in Baghdad and the provinces

10:41 - 10/27/2020
 
  
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The information / Baghdad .. The
Ministry of Construction, Housing and Public Municipalities has prepared designs for 10 new cities in Baghdad and the provinces with a capacity of more than 500 thousand housing units, calling on the government to focus its weight during the coming period to solve this dilemma.
The Undersecretary of the Ministry, Jaber Al-Hassani, said in a statement that the information was reviewed, that these cities are under design, and they are distributed in two cities in Baghdad, one each in Najaf and Karbala, and two in Mosul and Kirkuk.
Al-Hassani added, "These cities, in the event of finding sources of financing for their construction, will provide more than 500 thousand housing units," stressing that "the financing must be borne by the state part of it and the investment authorities bear the other part." End / 25

https://www.almaalomah.com/2020/10/27/502021/

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A parliamentarian affirms the impossibility of passing the borrowing law in its current form so as not to wrongdo future generations

by Moahmmad EditorIraq news3 Hours ago

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Representative Mansour Al-Baiji stressed, on Tuesday, that the House of Representatives will not pass the borrowing law in the form it was sent by the government, but rather that it will make amendments to reduce borrowing and not assign the state large debts that will bear future generations.

Al-Baiji said: “Borrowing is not the solution, and the Iraqi government must go to find other sources of financing, such as the agricultural and industrial sector, border outlets and mobile phone companies.

He added, "We will vote for a legalized borrowing law that will not exceed the salaries of employees and retirees and the salaries of the social protection network. The vote will not be on a borrowing law that gives the government the right to borrow billions, and we do not know where it goes."

Al-Baiji added, "We are against the idea of borrowing, but out of absolute necessity, we will vote on it in order to pay salaries to state employees." The deputy stressed: "We are against borrowing and it should turn to other financing projects because we will not allow borrowing that will cause disaster for the country during the coming period if the government continues this way without finding a solution to this economic crisis."

https://altahreernews.com/20280/

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Tuesday 27 October 2020 | 10:52 a.m.
| Views: 94
Parliament: We'll pass a borrowing bill to pay salaries

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Representative Mansour Al-Baiji stressed, on Tuesday, that the House of Representatives will not pass the borrowing law in the form it was sent from the government, but rather that it will make amendments to reduce borrowing and not assign the state large debts that future generations bear. Al-Baiji said, in a statement received by "Eye of Iraq News", that "borrowing is not the solution, and the Iraqi government must go to find other sources of financing, which are present, such as the agricultural and industrial sector, border outlets and mobile phone companies. Therefore, the government must go to activate it and move away from quick solutions such as borrowing." . He added, "We will vote for a legalized borrowing law that will not exceed the salaries of employees and retirees and the salaries of the social protection network. The vote will not be on a borrowing law that gives the government the right to borrow billions, and we do not know where it is going." Al-Baiji added, "We are against the idea of borrowing, but out of absolute necessity, we will vote on it in order to pay salaries to state employees." The deputy stressed:

https://aynaliraqnews.com/index.php?aa=news&id22=140208

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A parliamentarian .. confirms the impossibility of passing the borrowing law in its current form

 Tuesday 27th October 2020 11:25 am (8 Views)

http://www.skypressiq.net/thumbnail/crop/1000/600/posts/2020-10/27/20201027_112532-825.jpgl
 

Sky Press /

Representative Mansour Al-Baiji stressed, on Tuesday, that the House of Representatives will not pass the borrowing law in the form it was sent by the government, but rather that it will make amendments to reduce borrowing and not assign the state large debts that will bear future generations.

 

Al-Baiji said: “Borrowing is not the solution, and the Iraqi government must go to find other sources of financing, such as the agricultural and industrial sector, border outlets and mobile phone companies.

 

He added, "We will vote for a legalized borrowing law that will not exceed the salaries of employees and retirees and the salaries of the social protection network. The vote will not be on a borrowing law that gives the government the right to borrow billions, and we do not know where it goes."

 

Al-Baiji added, "We are against the idea of borrowing, but out of absolute necessity, we will vote on it in order to pay salaries to state employees." The deputy stressed: "We are against borrowing and it should turn to other financing projects because we will not allow borrowing that will cause disaster for the country during the coming period if the government continues this way without finding a solution to this economic crisis."

http://www.skypressiq.net/2020/10/27/برلماني-يؤكد-استحالة-تمرير-قانون-الاقتراض-بصيغته-الحالية

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Tuesday, 27 October 2020 11:03 AM

 

Parliamentary Finance warns of an economic setback due to the government's borrowing policy

Siham Al-Aqili
 
 

 


The Parliamentary Finance Committee warned of an economic setback in Iraq,
  calling for reducing the amount of government borrowing to cover the salaries of employees, retirees and social care only.
A member of the Finance Committee, Siham Al-Aqili, said, "The amount provided for the government loan is exaggerated and devoid of attempts to rationalize spending."
He added that "walking the amount of the government loan and the approach of borrowing without solutions will push Iraq to a long-term economic setback ." 
Al-Aqili explained that "the Finance Committee and other committees in the House of Representatives are working to reduce the amount of the loan to some extent that secures the salaries of employees and retirees, social care and urgent needs.
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Tuesday, October 27, 2020 10:56 AM

 

Representative economics: We will not vote on the borrowing law except after making 3 important amendments

Representatives
 
 

 

A member of the Parliamentary Economic and Investment Committee, MP Mahmoud Al-Zagrawi, affirmed that the vote on the fiscal deficit financing law will only take place after making 3 important amendments.
Al-Zagrawi said, "Parliament may discuss the law on financing the fiscal deficit next week due to its importance, but it cannot be accepted to proceed with voting on it, and there is a financial deficit of 41 trillion dinars," noting that "the amount is large and will lead to exhaustion of the Iraqi economy with very large debts."
He added, "Going forward with the law requires resolving the file of the first borrowing and explaining the mechanisms for using money, whether for salaries or for the rest of other expenditures, in addition to that the law requires the achievement of 3 important amendments, which are reducing the amounts of deficit and expenditures and maximizing financial revenues."
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2 hours ago, Mary B said:
Tuesday, October 27, 2020 10:56 AM

 

Representative economics: We will not vote on the borrowing law except after making 3 important amendments

Representatives
 
 

 

A member of the Parliamentary Economic and Investment Committee, MP Mahmoud Al-Zagrawi, affirmed that the vote on the fiscal deficit financing law will only take place after making 3 important amendments.
Al-Zagrawi said, "Parliament may discuss the law on financing the fiscal deficit next week due to its importance, but it cannot be accepted to proceed with voting on it, and there is a financial deficit of 41 trillion dinars," noting that "the amount is large and will lead to exhaustion of the Iraqi economy with very large debts."
He added, "Going forward with the law requires resolving the file of the first borrowing and explaining the mechanisms for using money, whether for salaries or for the rest of other expenditures, in addition to that the law requires the achievement of 3 important amendments, which are reducing the amounts of deficit and expenditures and maximizing financial revenues."

Weekends looking good with oil company law 

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Representative economics: The deficit financing law will be reconsidered before it is presented to a vote

14:34 - 10/27/2020
 
  
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Information / Special ...

The Parliamentary Economic and Investment Committee confirmed, on Tuesday, that the law on financing the deficit with salaries will be reviewed before it is presented to a vote, while it indicated that the coming sessions will be free of the deficit financing law.

Committee member Yahya Al-Ithawi said in a statement to Al-Maalouma that "the government needs 3 trillion per month to secure salaries, as the total amounts for three months are 9 trillion dinars only," pointing out that "the deficit financing law cannot be passed in the current form as the sums it requested The government is 41 trillion dinars, and this is an exaggeration.

He added that "the law will be reviewed before it is presented to the vote and the second reading," indicating that "the agenda of the next sessions will be free from the law on financing the fiscal deficit.

The Parliamentary Finance Committee confirmed, today, Tuesday, that the law on borrowing or financing the fiscal deficit contains large sums that cannot be voted on in the House of Representatives. Ended 25 T.

https://www.almaalomah.com/2020/10/27/502075/

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MP: Parliament will request clarification from the government on the purpose of borrowing

14:30 - 27/10/2020
 
photo_2020-10-26_23-05-01-696x464.jpg

The information / Baghdad ..
Member of Parliament Khaled Al-Jushami confirmed, on Tuesday, that its meeting, headed by the First Deputy Speaker of Parliament, Hassan Al-Kaabi, regarding the government's request for a new borrowing, indicating that the committee members will clarify from the government whether the new request is related to paying salaries or not.
“The Financial Committee, headed by First Deputy Hassan al-Kaabi, held an important meeting this afternoon to discuss the government's request to allow it to borrow domestically, which amounted to forty-one trillion dinars, and this for us is a great number,” Al-Jushami said in a statement to the information.
He added that "members of the committee will seek clarification from the government whether the payment of employees' salaries is related to the new loan or are there other details," noting that "Parliament is heading towards reducing the amount of borrowing and postponing unnecessary expenditures for the next year’s budget."
By mentioning that the Media Department of the House of Representatives announced that the Parliamentary Finance Committee will hold a meeting today, Tuesday, to complete the study of the draft law on financing the financial deficit to meet expenses, especially the salaries of employees and retirees. End / AD 25

https://www.almaalomah.com/2020/10/27/502071/

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