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Al-Kazemi directs finance to send the 2021 budget to the Cabinet Secretariat


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Financial experts expected that the budget of the twenty-one thousand would be austere and would be limited to paying the salaries of employees and following simple matters ... while they said that the deficit in it will reach seventy trillion dinars, according to the data.

The Ministry of Finance is expected to send the draft 2021 budget law to the Council of Ministers within the next two weeks, which will be austerity and limited to securing salaries for employees and retirees and social care.

The ministry included a clause in the draft that allows the government to borrow in order to secure operating expenses, and to fill the budget deficit that is likely to be large due to low oil prices in global markets.
 
 
 
 
 

According to experts in economic affairs, the budget for next year will be difficult, and it is likely that the deficit will reach the level of 70 trillion dinars or more, which will be financed from internal and external borrowing, while the Parliamentary Finance Committee sent an urgent letter to the government asking it to speed up the completion of the draft federal budget law and send it to Parliament.

According to a statement by the financial advisor to the Prime Minister, the Ministry of Finance is about to finalize the presentation of the draft federal budget law for 2021 to the Council of Ministers for approval .. indicating that the federal budget for the next year will reach the Council of Ministers within the next two weeks, that is, before the end of this month, adding that it was calculated The selling price of a barrel of oil ranges from 40 to 43 dollars.
 

Because of the lack of liquidity and the low oil prices in global markets, the budget for next year will be operational only, to secure the necessary expenditures, such as salaries of employees and retirees, social care, the health sector, and the ration card.
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The 2021 budget arrives in Parliament in a month

Saturday 21 November 2020 53

The 2021 budget arrives in Parliament in a month

 
Baghdad: Morning
 
 
The Ministry of Planning has set the date for sending the fiscal budget for 2021 to the House of Representatives, indicating that the investment side has been prepared.
The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, told the Iraqi News Agency that “the ministry has finished preparing the investment component in the 2021 budget that will be sent to the House of Representatives within about a month after the Council of Ministers approves it,” indicating that “the lack of financial revenues for the state will be a problem. Large in the 2021 budget in its investment side, so the focus will be 
On the operational side only}.
Al-Hindawi added, "If there is a surplus in funds, it will shift to the investment side, as priority will be for ongoing projects that are under implementation and completion rates have reached advanced stages," stressing that "no new projects are included in the 2021 budget.
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Parliamentary Finance in Iraq determines the period required to audit the 2021 budget

Parliamentary Finance in Iraq determines the period required to audit the 2021 budget
Iraqi Parliament
 20 November 2020 08:44 PM

 
Mubasher: The Parliamentary Finance Committee in Iraq set, today, Friday, the period required to audit the draft federal budget law for the year 2021.

MP Ahmad Al-Saffar, the committee’s rapporteur, said in a statement to the Iraqi News Agency, “INA,” today that if the government sends the draft federal budget bill for the fiscal year 2021, during the current month or at the end of it, the Finance Committee needs a month or 45 days to complete Checking the doors of disbursement, revenues and others, while hosting the concerned government agencies

He pointed out that oil prices are not stable, but it is estimated that the budget will be based on the price of $ 45, pointing out that the region’s share will be according to the agreement, and in accordance with the constitution and the Financial Management Law.

Earlier, the Parliamentary Finance Committee announced that it had sent a letter of confirmation to the government in order to speed up sending the draft budget next year, confirming that it was not aware of the budget bill yet.

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Information / private
The legal expert, Ali Al-Tamimi, explained the measures to be taken in the event that the 2021 budget is not approved on time.
Al-Tamimi said to / the information /, that “Article 62 of the constitution requires the government to submit the final accounts to Parliament before approving the budget .. Either .. Article 8 of the Financial Administration Law No. 6 of 2019 requires the Ministry of Finance and Planning to submit the draft general budget law To the Council of Ministers in early September of each year ”.
He added that “Article 11 of the above law must administer the financial management to the Council of Ministers after receiving the budget, to submit it to Parliament after discussing it in mid-October. As for Article 13 of this law above, it said that in the event that the General Budget Law is not approved until December 31, the Minister of Finance shall issue Instructions for disbursement of 1/12 of the total expenditures.
And that "the internal and external borrowing law for the year 2020 is only possible according to which internal and external borrowing for the year 2020 only." 25 n

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An economist submits a proposal to cover the financial deficit and get Iraq out of its crisis

 

 

863 Policy 11/21/2020 14:23 Baghdad Today -

Baghdad On Saturday (11-21-2020), economic expert Basem Antoine confirmed that the money smuggled out of Iraq, had it been recovered, would have been sufficient to cover the financial deficit and extricate the country from its economic crisis. Antoine said in an interview with (Baghdad Today), that "there are estimates regarding the value of the sums smuggled abroad, and there are no real figures, as it is estimated at (353-400) billion dollars, so it is difficult to recover them as long as the estimated numbers." He added that "the countries and banks in which these funds are located do not cooperate with the Iraqi government, despite the existence of a special body to recover the stolen money." And that "if these funds were returned to the state treasury, they would be able to cover the deficit in the budget and may overflow from it," attributing the causes of the deficit to "rampant corruption, laundering and smuggling of funds, and thus led to the deterioration of the Iraqi economy." A member of the Parliament's Finance Committee, Sherwan Mirza, had warned, on Friday (November 20, 2020), the likely date for the 2021 budget to reach the House of Representatives. Mirza said in an interview with (Baghdad Today), "The government promised to send the 2021 budget bill at the beginning of next month, and after its arrival, some amendments and changes will be studied and made on it, according to the powers of Parliament." He added, "The 2021 draft budget is still under study and preparation by the competent government agencies," stressing that "the House of Representatives and the Finance Committee did not familiarize themselves with the paragraphs of that budget, how much the financial deficit in it, and what are the government's plans to fill this deficit." The Finance Member added, "We do not know whether parliament will be able to pass it before the end of this year, this depends on the date of the project’s arrival, as well as the seriousness of the political forces in passing it, if there are disagreements about some of its paragraphs." The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed on Thursday that the federal budget for next year will reach the cabinet within the next two weeks. In a press statement followed by (Baghdad Today), Saleh said, "The Ministry of Finance is about to finalize the presentation of the draft federal budget bill for 2021 to the Council of Ministers for approval," indicating that it "will be shortened after pressuring and reducing its expenditures and maximizing its imports." He added that "the federal budget for next year will reach the cabinet within the next two weeks, that is, before the end of this month," adding that it "calculated the sale price of a barrel of oil between 40 to 43 dollars." Saleh added that "the expected financial deficit is the result of the financial conditions and the crisis that we are suffering from. The Ministry of Finance will include an item for a third borrowing to fill this deficit," noting that "the budget will secure salaries of employees and retirees, social care and some investment projects." The government advisor pointed out that "the coming period will witness negotiations between the federal government and the Kurdistan region to agree on determining the quantities of oil exported from the fields of the region to be included in the federal budget."

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by Moahmmad Editor Economy One Day ago

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The reporter of the Finance Committee in the Iraqi Council of Representatives, Ahmed Al-Saffar, announced that Prime Minister Mustafa Al-Kazemi informed the committee before approving the law on financing the fiscal deficit, to send the draft fiscal budget law for 2021 to Parliament during the current month, otherwise the government will face a problem in providing salaries in January early Next year.

According to the Financial Management Law, the budget must be sent to Parliament in mid-October in preparation for approval. Al-Saffar told Rudaw Media Network that "delaying the presentation of the law for a month and a half until now may cause the January salaries to be distributed for a week or two."

Al-Saffar indicated that there is an agreement regarding the Kurdistan Region’s share of the 2021 budget, “but this agreement must be renewed and amended, due to the change in the orientations of the Shiite parties after the approval of the fiscal deficit financing law.”

Al-Saffar stressed the need to conclude an agreement between the two sides, "and to send the Kurdistan Region two delegations, one political and the other governmental, to install the Kurdistan Region’s share in the budget, thus dispelling the concern of the region’s employees about the fate of their salaries every month."

On the date of the delegation’s visit, Al-Saffar said, "It is expected that this will happen as soon as possible, in addition to reaching an understanding regarding the salaries of November and December.

At the same time, a member of the Parliamentary Finance Committee, Jamal Cougar, pointed out to Rudaw to request the Ministry of Finance to expedite the sending of the 2021 budget bill, indicating that the Kurdistan Region’s share in the law will be under an agreement between Baghdad and Erbil where the agreement will be confirmed within the provisions of the law and send the budget to the Kurdistan Region. Based on that.

He explained that the committee met on November 11 with the Iraqi Prime Minister and Minister of Finance, where it was emphasized that the 2021 budget bill should be sent as soon as possible, “and three days from now this request was sent in writing to the ministry.”

The Iraqi government is finding it difficult to secure the salaries of its employees due to the financial crisis caused by the deterioration of oil prices and the outbreak of the Corona pandemic, not to mention corruption, as it resorted to borrowing 12 trillion dinars under the Deficit Financing Law by the Iraqi parliament on November 12, to distribute salaries until the end of the year The current one, amid assurances from the Iraqi Prime Minister, Mustafa Al-Kazemi, that he will face a problem in providing salaries as of the beginning of 2021.

The Iraqi parliament voted on the law on financing the fiscal deficit despite the withdrawal of the Kurdish bloc’s representatives to object to the article stipulating that the Kurdistan Region’s share of the total actual spending (current and investment project expenditures) be determined after excluding sovereign expenditures “on the condition that the Kurdistan Region should pay the amount of oil exported from the region and in quantities. "Specified exclusively by the Iraqi Oil Marketing Company, SOMO, and the federal non-oil revenues, and in the event of non-commitment by the region, the expenses may not be paid to the region, and the violator of this text bears legal responsibility."

On August 15, Baghdad and Erbil reached an agreement to send the federal government 320 billion dinars per month to the Kurdistan Region for three months, provided that it is agreed to determine an amount of a fair percentage from the Kurdistan Region’s federal budget by adopting constitutional standards, population ratios and Kurdistan Region imports ( Oil and non-oil) in the previous year.

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 2020-11-23 04:39

Shafaq News / Member of the Parliamentary Finance Committee, Jamal Cougar confirmed, on Monday, that the deficit in the 2021 budget is speculative, not actual.

Cougar said in an interview with Shafaq News; "The 2021 budget has not yet reached Parliament," indicating that "the estimates of the deficit will amount in the next year 2021 budget between 35 to 45 trillion dinars."

Cougar added, "The deficit in the borrowing law is an actual deficit that is used to manage and fill the shortfall in financial liquidity, while the deficit in the 2021 budget will be an appraisal deficit that we may or may not need all of, and therefore it is a planned deficit."

Cougar pointed out that "the government has a full year and there are reforms promised by the Minister of Finance to turn the white paper into practical steps in the budget, and therefore when we say this deficit is planned, reforms may fill part of it, and oil prices may rise and the quantities of oil sold increase, and therefore we may not need this amount at all." Of the deficit in the budget, which is considered expectations and not a real reality. "

Iraq relies on oil sales revenues to finance 95 percent of state expenditures. The country is experiencing a suffocating financial crisis this year due to the decline in crude prices in global markets due to the Corona pandemic.

A member of the Finance Committee, Ahmed Al-Saffar, stated that "the price of a barrel of oil in the general budget will be set at $ 40, and it may change with the rise in oil prices in the coming period."

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The appearance of Muhammad Saleh: 83% of the monetary supply is "almost idle."

 
 
  Baghdad: Haider al-Rubaie 
The economic advisor in the cabinet, Dr. Mazhar Muhammad Salih, proposed a set of solutions aimed at confronting the fiscal deficit in the next year 2021 budget, which was initially estimated at approximately 35 trillion dinars, putting at the forefront of these proposals, financing the deficit gap through the improvement of oil revenues and positive developments, That may happen in the energy markets, as well as resorting to loans 
External.
The head of the Parliamentary Finance Committee, Haitham al-Jubouri, called "during a press release" the government to send the 2021 budget, pointing out that his committee will work to enable the budget law to maximize the state's non-oil revenues and carry out economic and financial reforms.
And counting on next year's budget law, the elimination of the “salary delay crisis” if it is approved within the specified period, and as Ahmed Mulla Talal, the spokesman for the Prime Minister, confirmed this during an interview with “Al-Iraqiya News Channel” when he said, “We need to approve a budget 2021 quickly so that salaries are not delayed.
 
Treating impotence
The fiscal deficit in the 2021 budget is a frightening obsession in economic circles, but Saleh believes during his speech to Al-Sabah that “addressing the deficit is done through two types of considerations. If there is a (conservative hypothetical deficit), then the deficit gap during the fiscal year is automatically funded. From improved oil revenues and positive developments that may occur in energy markets in the coming year.
 
External borrowing
The economic expert draws attention to the possibility of a (real deficit), which requires financing according to the priorities of exchange or spending in the general budget, likely at the same time, Iraq's openness to borrowing from abroad in order to obtain financing, especially from international multilateral financial institutions, Like the World Bank and various international funds, provided that the resources borrowed from abroad are allocated to investment projects that generate income and employ labor.
 
Issuing bonds
Regarding internal borrowing, Saleh believes that if government banks reach a point within which they cannot lend to the government, then they can go to the issuance of optional bonds that are sold directly to the public and carry specific interest and privileges, indicating that “83% of the current monetary mass (as financial wealth is almost idle) Which is nearly 50 trillion 
Dinar".
He pointed out that "this block is still leaking to the public, and lies outside the banking system in the form of hoardings cut off from the income cycle in the economy and does not deal with the banking system, which means that there are large disruptive financial surpluses that can be borrowed and cover the budget deficit."
Saleh pointed out that “bonds are a government debt tool in dealings, mortgages, and even tax payments or any other financial obligations, as these sovereign bonds can be taken as guarantees for borrowing and others, in addition to being a government debt instrument of excellent class, which is a context in place in all major markets. Money in the world to finance the budget, especially the aspect 
Investment ”.
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A member of Parliament Finance proposes to re-"arrange" salaries

11/23/2020

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Baghdad Today - Follow-up


Member of the Parliamentary Finance Committee, Jamal Cougar, on Monday (11-23-2020), specified a number of conditions that must be met in the 2021 budget before sending it by the government to the House of Representatives, while noting that the time has come to rearrange salaries by the government.


Cougar said in a televised statement followed by (Baghdad Today), "There is no prior rejection of the 2021 budget, but there is a refusal to present another law for borrowing in order to secure salaries, and the Council of Ministers must send the budget to Parliament to legislate it before the end of this year to solve the salary crisis."


He added, "We will not accept that the budget be sent to Parliament, and it contains many borrowing laws. There is no real reform and implementation of the white paper that the government sent some time ago."


And on the salaries of employees, Cougar said, "The time has come to rearrange salaries by the government, but reducing salaries is difficult for the citizen and we do not believe that it is a sound thing with the economic conditions in the country and until now there is nothing official about that just talk in the white paper."


Some social networking sites had reported that the Finance Committee in the House of Representatives submitted a proposal to the Iraqi government to reduce 70% of the allocations and salaries of state employees as compulsory savings.


The House of Representatives approved, this month, the internal and external borrowing law worth 12 trillion dinars (10 billion dollars), in an effort to end the crisis of delayed payment of state salaries, which has lasted about two months.


This is the second time that the government has asked Parliament to grant it the authorization to borrow, with the aim of securing operating expenses, on top of which are the salaries of employees.


Parliament had approved on June 24 a bill that allowed the government to borrow 15 trillion dinars (12.5 billion dollars) internally, and 5 billion dollars abroad to cover the fiscal deficit.


The country is experiencing a suffocating financial crisis due to the decline in oil prices due to the Corona pandemic crisis, which has paralyzed large sectors of the world’s economies.


Before the Corona crisis, revenues from selling crude amounted to about $ 6 billion per month, but they have almost halved this year.


The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, said in an interview with (Baghdad Today), "Deleting zeros from the currency does not affect financially and does not get the country out of the crisis, and it is only a psychological aspect."


He added, "Eliminating zeros will affect the government because it will destroy the currency it has and issue a new currency without zeros, and this will be in printing houses outside the country and this will cost the government a lot, and the current time is not suitable for this procedure."


As for the member of the Finance Committee, Ahmed Hama, he said to (Baghdad Today),

👉 "Exiting the financial crisis is not only by deleting zeros from the Iraqi currency because the crisis is mainly economic," indicating that "deleting zeros from the Iraqi dinar needs to print a new currency."


He pointed out that "the cost of printing a new currency of different denominations of currency up to 60 trillion dinars, and this is difficult for Iraq to bear at the present time, because each denomination or every banknote of the currency requires 6 cents to be issued again."

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2 minutes ago, DWS112 said:

  "deleting zeros from the Iraqi dinar needs to print a new currency."


He pointed out that "the cost of printing a new currency of different denominations of currency up to 60 trillion dinars, and this is difficult for Iraq to bear at the present time, because each denomination or every banknote of the currency requires 6 cents to be issued again."

i thought iraq was already printing lower denoms a long time. why does iraq bring the cost of printing 60 trillion dinars up again? i smell something fishy here. does that mean that iraq is trying to print another lower denoms again for a second time, what for? this is impossible. or does it mean that this is another lie in disguise ( the purpose is actually to steal this 60 trillion dinar instead of saying iraq need 60 trillion dinar to print lower denoms). actually, all iraqi politicians need to be tested with a lie detector equipment to find out who tells the truth and who doesn't.

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Minister of Planning: Inclusion of the Baghdad Suspended Train Project within the investment budget for 2021

Minister of Planning: Inclusion of the Baghdad Suspended Train Project within the investment budget for 2021
Iraqi Minister of Planning, Khaled Battal Al-Najm, while receiving the French ambassador and his accompanying delegation
 

Mubasher: The Iraqi Minister of Planning, Khaled Battal Al-Najm, received today, Wednesday, the French ambassador in Baghdad, Bruno Hubert, and his accompanying delegation, which included a number of government officials and heads of civil society organizations .

During the meeting, according to a statement issued by the Ministry of Planning, a group of files and issues of common interest were discussed, as well as the bilateral relations between the two countries in the economic, investment and trade fields, and ways to develop them .

The Minister of Planning announced that the suspension train project in Baghdad was included in the investment budget for 2021 .

The two parties discussed the procedures and steps that have been taken regarding the establishment of the Sinjar General Hospital and the rehabilitation of Mosul International Airport by the French side .

For his part, the French ambassador stressed that his country is keen to strengthen cooperation with Iraq, and to provide more support for the efforts of the Iraqi government, at the humanitarian and developmental levels.

Uber indicated that many important steps and procedures regarding the implementation of the Sinjar General Hospital project have been completed, pointing out that the hospital will be in two phases.

The ambassador explained that work will begin at the beginning of next year, and its capacity will be 25 beds, in addition to two maternity halls and 4 different halls, in addition to laboratories, and other requirements .

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The information / Sulaymaniyah ...

On Wednesday, Representative of the Change Movement, Ghalib Muhammad, confirmed that a project to link the salaries of Kurdistan Region employees directly to the federal government will proceed.

"All the Kurdish parties agreed to this project, with the exception of the Democratic Party, because it will be greatly damaged in the event that salaries are resettled with Baghdad," Muhammad said in a statement to "Al-Maaloumah".

He added, "The power parties have tens of thousands of alien employees or those who do not work and receive salaries while they are abroad or do party work, and these votes are being used in the elections for the benefit of the ruling parties."

Muhammad pointed out that “if the government wants to stop waste and corruption in the billions, it must localize salaries, because they are related to the interest of the Kurdish citizen in general, and there is broad popular support for this step.”

And that "members of the Council will submit a request for the purpose of voting on the paragraph of resettlement of the salaries of the region’s employees within the 2021 budget, which is the only solution for the continued distribution of salaries and the elimination of fictional satellite numbers."

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Is this the cash outside the banking system

 

that “83% of the current monetary mass (as financial wealth is almost idle) Which is nearly 50 trillion 
Dinar".
He pointed out that "this block is still leaking to the public, and lies outside the banking system in the form of hoardings cut off from the income cycle in the economy and does not deal with the banking system, which means that there are large disruptive financial surpluses that can be borrowed and cover the budget deficit."
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The file of borrowing “closed without returning” .. Parliamentary Finance suggests a date for the birth of the 2021 budget

11/28/2020

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The Parliamentary Finance Committee suggested approving the 2021 budget at the end of next January, while it described the borrowing file as closed without return.

 

Committee member Ikhlas Al-Dulaimi said in a press statement, "Coordination and discussions are continuing between the government and parliament to expedite sending the next year budget law during the current period and discussing it in Parliament to reach its approval as soon as possible."

 

She indicated that her committee addressed the government with official letters to expedite the transfer of the budget and avoid any delay that would negatively affect the country.

 

Al-Dulaimi ruled out a renewal of the salary crisis again and a return to borrowing to secure it after the rise in oil prices and its remarkable recovery in global markets, confirming that the borrowing file was closed without return.

 

She added that Parliament continues to pressure the government to complete the budget provisions and secure basic benefits for all sectors of the state according to a feasible financial and economic vision.

 

Official and popular circles are waiting for the budget to be approved next year, with a timetable that does not exceed the first month of next year, amid fears of the return of the salary delay crisis against the background of statements by the Iraqi Prime Minister Mustafa Al-Kazemi with difficulty and the government's inability to pay the salaries of employees for the month of January in the event that the budget is not approved.

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Iraq markets (Ali Makram / Anatolia)
The Kurna virus deepened the financial crisis in Iraq (Ali Makram / Anatolia)
 

An Iraqi official revealed to Al-Araby Al-Jadeed that the government intends to send the draft budget next year 2021 to Parliament within the next three weeks at the latest, with the continuation of meetings of government committees with their parliamentary counterparts to reach understandings on the most prominent points of contention regarding the draft budget , which is expected To adopt the price of $ 40 a barrel of oil while raising the level of austerity in the country to record levels.
The official, who declined to be named, continued: There will also be dialogue between the government and parliament about postponing many projects and approaching several countries, most notably China and India, to implement infrastructure projects in accordance with the reconstruction mechanism in exchange for oil, in a measure that also aims to escape the suffocation of OPEC reductions and benefit as much. The possibility of oil in easing the severity of the financial crisis that has hit the country since the beginning of this year.
According to another official in the Prime Minister’s office to Al-Araby Al-Jadeed, the government is trying to approve the budget before the end of this year, revealing that there is a clause that includes internal borrowing from banks of about 30 trillion dinars (about 22 billion dollars) to fill the budget deficit.
The official adds that the 2021 budget will be austere, free of jobs and service projects, and will focus on securing employees' salaries and great pressure for expenditures to reduce the financial crisis, yet the deficit is expected to be more than 30 percent.
In this context, the Finance Committee in the Iraqi Parliament revealed the most important conditions that must be met in the draft Budget Law 2021, in order to pass it, after sending it from the Council of Ministers to the House of Representatives.

 

Naji Al-Saeedi, a member of the Finance Committee, said, "There are no special conditions for the purpose of passing the 2021 budget, but there are 4 general conditions that must be met in the draft law, most notably the consolidation of public revenues, reducing state expenditures and reducing the financial deficit, and the budget must be developmental and not digital." Only, and all of this comes in the service of the Iraqis. "
Al-Saeedi explained in a press briefing presented last Friday that, "After the budget arrives in the House of Representatives, we need a month to pass it, and the highest loan amount that can be approved will not exceed 30 trillion as a prerequisite, and this matter remains under discussion and study after the official arrival of the budget. Helplessness in it. " 
But a professor of economics at the Iraqi University in Baghdad, Abdul Rahman Al-Mashhadani, told Al-Arabi Al-Jadeed that "the 2021 budget has not yet been prepared and is still hovering in the corridors of the Ministry of Finance. However, speculation is directed towards the increase in the deficit by large proportions despite the austerity proposed in it." .
He added that "the 2021 budget must be close to the 2020 budget, given that the economic and financial conditions that the country is experiencing are quite similar in terms of the continuation of the financial crisis and the scarcity of resources, preferring that the budget be shortened to basic and necessary expenditures and not affect the salaries of employees and retirees, their allocations and social protection items." .
According to al-Mashhadani's estimates, "the budget should be around 75 - 80 trillion dinars (the dollar = about 191 dinars) and these are salary expenditures (the operational budget), with a deficit of up to 15 trillion Iraqi dinars," indicating that oil revenues will be up to 50 trillion dinars on Less, plus other state revenues.

 
 

Al-Mashhadani warned that the fate of the 2021 budget will be similar to the 2020 budget due to political obstacles and differences, "indicating that the government will face difficulty in approving it due to the imminent date of the parliamentary elections that are scheduled to take place next June and the entry of parliament on vacation two to three months in preparation for running The election".
He pointed out that the draft budget has not yet been presented to the government, nor has it reached the Finance Committee in the House of Representatives, which previously announced that it needs more than 45 days to study it, pointing out that the next year’s budget will not see the light unless it is logical and reasonable.
For her part, Representative Najiba Najeeb, in an interview with Al-Araby Al-Jadeed, said, “According to the Financial Management Law, the 2021 budget is supposed to arrive in Parliament at the end of last October in order to be approved at the end of this year, but it is still in a phase. Preparation has not yet seen light for many reasons, most notably the Fiscal Deficit Law, which has become a matter of controversy between the government and the House of Representatives.
She added that "the next budget will not differ much from previous budgets, as it depends 94% on oil revenues, which have declined significantly following the global outbreak of the Corona pandemic at a price of about $ 40 a barrel, and the matter may change with the rise in oil prices in the coming period."
Naguib warned of "the delay in approving the budget until next year, because it will witness the conduct of new parliamentary elections that always cause confusion in the work of the House of Representatives, as happened in 2014 in which parliamentary elections were held and the entire budget disappeared, the fate of which no one knows until now."

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 2020-11-30 02:53
 

Shafaq News / On Monday, Prime Minister Mustafa Al-Kazemi directed to send the Budget Law for 2021 to the General Secretariat of the Council of Ministers for scrutiny.

The spokesman for the General Secretariat of the Council of Ministers, Haider Majeed, said in a statement received by Shafaq News, that the directive was issued by Prime Minister Mustafa Al-Kazimi, directing the ministries of Finance and Planning to send the budget law for 2021 to the General Secretariat of the Council of Ministers for the purpose of checking it.

He added that after that, an extraordinary session will be allocated for discussion and referred to the House of Representatives for approval as soon as possible.

For its part, the Parliamentary Finance Committee revealed that government spending on employee salaries in the fiscal budget for 2021 will be different from the current year’s budget, and confirmed that it is awaiting approval of the budget law in the Council of Ministers and its referral to the House of Representatives.

Committee member Jamal Cougar told Shafaq News, "The volume of government spending for salaries in the general budget for next year is 51 trillion dinars, but it will be different in the general budget for the current year 2020."

And he stated that "in 2020, appointments were made in the number of state institutions, in addition to revealing the presence of aliens, double-wages and exceeding the salaries of retirees and social care. All this will change the size of the general budget for the next year."

Cougar pointed out that "Parliament is awaiting the approval of the draft general budget bill for 2021 in the Council of Ministers, after which this law will be sent to Parliament," indicating that "if the law reaches Parliament, it will be discussed and the total amount and financial deficit in the budget will be known."

 

 

On November 12, 2020, the Iraqi parliament approved the internal and external borrowing law worth 12 trillion dinars (10 billion dollars), in an effort to end the crisis of delayed payment of state employees' salaries that has been going on for nearly two months as a result of the failure to approve the budget law, and the financial crisis that interacted after the retreat. Oil prices affected by the Corona pandemic.

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C4C21194-4E25-4A42-8F88-019313E6617B.jpe

Today, Monday, the Ministry of Planning confirmed that the 2021 budget will be present tomorrow, Tuesday, at the cabinet table, based on discussions and review of the Ministerial Council for the Economy.

Maher Hammad, Technical Undersecretary for the Ministry of Planning, said in a press release, which Al-Ahed News obtained a copy of, that "the discussions of the Ministries of Finance and Planning regarding the draft federal budget bill for 2021 have reached their final stages."

He expected, "the draft budget will be referred to the Ministerial Council for the Economy within the next few hours for review before it is presented to the Council of Ministers in the middle of this week."

He explained, "The issue of presenting the draft of the federal budget at the cabinet meeting tomorrow (Tuesday) depends on the discussions and the review that will be implemented by the Ministerial Council for the Economy," expressing his "reservation on mentioning the size of the budget and its deficit and calculating the price of selling oil and all the numbers mentioned in the draft project."

The technical agent stressed the need for a Kurdish delegation to come to Baghdad this week to resolve the outstanding oil problems between the two parties in order to include the agreement in the draft budget bill.

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  •  Time: 11/30/2020 10:27:24
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Al-Kazemi issues immediate guidance on the 2021 budget
  
{Baghdad: Al Furat News} Prime Minister Mustafa Al-Kazemi directed to send the draft Federal Budget Law for 2021 immediately to the General Secretariat of the Council of Ministers for the purpose of scrutiny.

It is likely that the Council of Ministers will vote in its regular session tomorrow, Tuesday, on the draft 2021 budget bill and send it to the House of Representatives for the purpose of approval.
The Parliamentary Finance Committee criticized the government's delay in sending the budget to the House of Representatives, expecting the deficit in it to reach 25%.
The delay in approving the budget raises the concern of the employee segment and its reflection on the postponement of the government’s payment of salaries for the month of January.
Ammar Al-Masoudi

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Al-Kazemi sent the 2021 budget "immediately" to the General Secretariat of the Council of Ministers

Political10:26 - 11/30/2020

 
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BAGHDAD - Mawazine News
, the General Secretariat of the Council of Ministers announced, on Monday, near the opening of two strategic projects in Dhi Qar Governorate, while indicating that Al-Kazemi directed to send the budget immediately to the General Secretariat for the purpose of checking it.
The spokesman for the Cabinet Secretariat, Haider Majeed, said, according to the official agency, that "After the Council of Ministers held its extraordinary session in Dhi Qar Governorate, the General Secretariat of the Council of Ministers began implementing the outcomes of this session to follow up on projects."
Majeed added, "A series of meetings were held with the agents of the relevant ministries, and the companies implementing the projects that had been stalled for years," stressing that "the victory bridge, which was lagging 8 years ago, was opened in a record time, and with double effort by the staff of the Assyrian State Company."
He pointed out that "the end of this month will witness the opening of two projects, the first of which is reform water in the Al-Chibayish area and the other is the rehabilitation of Al-Badir-Al-Fajr road, which was called the road of death," noting that "the Turkish hospital will be opened in Dhi Qar at the end of this year."
He continued, "It is hoped that more than 50 schools will be completed," stressing that "all these projects have been stalled."
He explained, "There are projects stalled for technical and administrative reasons and others that require small sums allocated by the government for their completion," noting that "the government targets vital projects, infrastructure, roads, bridges, and the educational and health sectors."
He pointed out that "there is a meeting held last week with Wasit Governorate, in the presence of 16 deputy ministers, to follow up on projects," noting that "next week there will be a joint session for the governorates of Maysan and Kirkuk to count the stalled projects."
Regarding the 2021 budget bill, Majeed stressed that "the prime minister directed the ministries of finance and planning to send the budget immediately to the General Secretariat of the Council of Ministers for the purpose of scrutiny by the legal department in order for an extraordinary session to be allocated for discussion and referred to the House of Representatives for approval as soon as possible."
He pointed out, "The government and parliament are unanimous on the need to expedite the approval of the 2021 budget." Ended 6/29 N

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Advisor Al-Kazemi: The government intends to send the draft 2021 budget bill at this time?

In politics 29 November, 2020 16 visits

 

Baghdad / SNG-

The financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, said today, Sunday, that the Iraqi government is determined to send a draft of the 2021 budget bill to the House of Representatives this week in a long-awaited positive news that paves the way for approving the budget and preventing a delay in paying salaries if it is approved before the end of the year Ongoing.
Salih said, in a statement, followed by / SNG /: “What is delaying sending the 2021 budget to Parliament are the exceptional financial circumstances in the last quarter of the current year,” adding, “This government is working in a crowded time to manage financial affairs.”
He explained, "The other thing is that these circumstances have prompted a review of many things and issues, including maximizing non-oil resources and reviewing some expenditures, and this requires work, effort and a long time."
Saleh stressed, "the government's seriousness in sending the draft 2021 budget bill to the House of Representatives during the current week."
He continued, "Parliament is required to intensify its efforts in enacting this law and not delaying it, because of differences or other issues."

Representatives criticized the delay in sending the budget beyond the scheduled date in accordance with the Financial Management Law in mid-October.

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AL-KAZEMI DIRECTS TO SEND THE 2021 BUDGET IMMEDIATELY TO THE GENERAL SECRETARIAT OF THE COUNCIL OF MINISTERS

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Today, Monday, Prime Minister Mustafa Al-Kazemi directed the Ministries of Finance and Planning to send the 2021 budget immediately to the General Secretariat of the Council of Ministers for the purpose of auditing.

"The Prime Minister directed the Ministries of Finance and Planning to send the budget immediately to the General Secretariat of the Council of Ministers for the purpose of checking it by the legal department," said Haider Majeed, spokesman for the Cabinet Secretariat.

Majeed added, "An extraordinary session will be allocated to discuss the budget and refer it to the House of Representatives for approval as soon as possible."

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Interesting that the approval of the borrowing law has provided the driver to implement mechanisms to support income tax, introduce sales tax and prop up other tax collecting adventures at the ports, etc. The Iranian backed mafia's are losing ground, losing income, losing their dominance day by day. Each week, it seems we are watching a government grow new life into every part of Iraqi society. 

 

Broaden that tax base! 

Erode the tribal system!

Strengthen the technocrats!

Digitize where ever possible!

Expose Hydra (IRGC) where ever they lurk in Iraq!

Jail the State thieves!

Create a new Democracy in the ME!

... Let the spice flow!

And, FFS, RV your currency!

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