Today, Saturday, an important and exceptional meeting of the Council of Ministers

[6ly410]

Today, Saturday, an important and exceptional meeting of the Council of Ministers

http://iraqtoday.com/ar/news/47338/اليوم-السبت---إجتماع-مهم-وإستثنائي-لمجلس-الوزراء?latest

Policy  ,   2020/12/19 12:30  

 

 

 

Baghdad - Iraq today:

Today, Saturday, the Council of Ministers will hold an extraordinary session chaired by the President of the Federal Government, Mustafa Al-Kazemi, to discuss the draft of the Federal Budget Law for the Republic of Iraq for the fiscal year / 2021.

Leaks of the draft budget law for next year sparked discontent among the political and popular circles due to the depreciation of the Iraqi currency against the US dollar.

The exchange rate of the US dollar against the Iraqi dinar rose during the few days to surpass the barrier of 130,000 dinars for a hundred dollar denomination currency, an unprecedented rise that the currency markets have not witnessed over the past few years.

And (Iraq Today) gets a draft of the federal budget bill, which is scheduled to be passed by the Council of Ministers in its session today, to the Iraqi parliament in order to vote on it, after the completion of the discussion on it.

The project included calculating the export price of a barrel of oil at $ 42, at an export rate of (3,250) million barrels, including (250) thousand barrels for the quantities of crude oil produced in the Kurdistan region

[6ly410]

The Council of Ministers holds an extraordinary session to discuss the general budget

• Saturday, 19-12-2020, AM 11:28
• Karrar Al-Asadi http://non14.net/public/131524

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Today, Saturday, the Council of Ministers held an extraordinary session headed by the President of the Council, Mustafa Al-Kazemi, to discuss the draft federal budget law for the next year.

The media office of the Prime Minister stated in a brief statement, that "the Council of Ministers held an extraordinary session headed by the Prime Minister, Mustafa Al-Kazemi, to discuss the draft Federal Budget Law of the Republic of Iraq for the fiscal year 2021."

The leaked draft budget, a copy of it to the media, faced severe objections from the political and popular circles, after it included raising the dollar exchange rate, raising gasoline prices, in addition to reducing the allocations granted to all employees of state departments.

The Ministry of Finance confirmed, in a statement last Thursday, that the Council of Ministers will discuss the draft budget, and may make some amendments to it during today's session, and after its approval within the parliament, it will be sent to the House of Representatives for a vote.

The exchange rate of the dollar jumped today, Saturday, to 1362 dinars, after the leak of an initial copy of the 2021 budget, and its exchange rate was set at 1450 dinars to one dollar.

The draft law included the federal budget (initial version), setting the dollar exchange rate on the basis of 1450, which is equivalent to 145 thousand per 100 dollars, and restricting all actually realized revenues as final revenues to the state treasury account.

The budget stated that the number of state employees is 3.25 million, including (682 thousand employees in the Kurdistan region), salaries 41.5 trillion dinars, other salaries 6 trillion, retirement 20 trillion, social security 9.6 trillion, interest on debt loans 4,6 Trillions, offshore loan payments: 6.8 trillion.

The project also included the reduction of all allocations granted to employees of all government departments financed centrally and independently, according to the percentages specified against each of them and granted to them by virtue of laws in force and decisions of the Council of Ministers and came as follows:

(Risk allowances 50%, hospitality 20%, exceptional 20%, livelihood 33%, certificate 50%, lump sum, 40%, special 60%, university service 60%).

The bill also stipulated raising the price of fuel (gasoline) from 450 dinars per liter to 540 dinars per liter.

The budget authorizes the Minister of Finance to fill the actual deficit in the budget according to the amounts indicated in the sources mentioned below:

1- Issuing treasury transfers, 2- Issuing national bonds to the public, 3- Issuing bonds and treasury transfers to government banks, to be debited with the Central Bank of Iraq, 4- Loans from commercial banks, 5- Issuing foreign bonds, 6- Borrowing from international financial institutions, 7- Borrowing with the guarantee of international export guarantee institutions.

The budget indicates that all loans, bonds, transfers and project contracts financed by loans will be exempt from taxes and customs fees for ongoing and new projects, including the loan granted by the World Bank to the Ministry of Finance for the PFM contract project for the years 2016, 2017, 2018 and 2019.

The 2021 budget obliged federal ministries and entities not associated with a ministry and all governorates to cover their needs of local products, including private sector products that have an added value of more than (20%).

The draft budget concluded that the Council of Ministers may not issue any decisions that include granting an advance to any ministry or entity not linked to a ministry without having allocations for it in the general budget approved during the fiscal year.

The project included the suspension of all cabinet decisions and laws in force that allow the centralized state departments to dispose of the revenues collected through them for the purposes of operating expenses, and their revenues are transferred as final revenues for the account of the state's public treasury, including the state's public treasury's share of the profits of public companies and self-financed bodies and departments.

The fiscal deficit in the budget reached (58260763114) one thousand dinars (fifty-eight trillion two hundred sixty billion seven hundred and sixty-three million one hundred and fourteen thousand dinars), and in the case of excluding all arrears, indebtedness, and foreign and domestic loans that will finance investment projects amounting to (23229017817) one thousand dinars (three Twenty trillion two hundred twenty-nine billion and seventeen million eight hundred and seventeen thousand dinars).

The indebtedness represented by the internal and external debt installments reached (14761959590) one thousand dinars (fourteen trillion seven hundred and sixty-one billion nine hundred and fifty-nine million five hundred and ninety thousand dinars).

Today, Saturday, the head of the Parliamentary Finance Committee, Haitham al-Jubouri, hinted at the possibility of adopting an increase in the exchange rate of the dollar against the dinar, in order to get rid of part of the financial crisis facing the country, indicating that this measure should be the last resort.

Al-Jubouri said, during his speech at the first Iraqi media forum, that "changing the exchange rate has pros and cons."

He added, "We asked the government to take a number of measures in addition to raising the exchange rate," explaining, "We have proposed 32 practical measures by the Parliamentary Finance Committee."

He pointed out that "changing the exchange rate should be the last option for the government."

Al-Jubouri pointed out that "increasing revenues is possible, through the border crossings, the tax base, and many other measures."

He called for "discussing practical measures that could reduce the negative effects of changing the exchange rate

[coorslite21]

Budget and HCL....same day......something to keep an eye on!     CL

[jeepguy]

3 hours ago, 6ly410 said:

exchange rate of the dollar jumped today, Saturday, to 1362 dinars, after the leak of an initial copy of the 2021 budget, and its exchange rate was set at 1450 dinars to one dollar.

 

3 hours ago, 6ly410 said:

The bill also stipulated raising the price of fuel (gasoline) from 450 dinars per liter to 540 dinars per liter.

so if the average iraqi was to read  this , would seem to suggest inflation is rolling on , every thing going the wrong direction ... ( raise gas prices will set the protest on fire again )

3 hours ago, 6ly410 said:

"changing the exchange rate should be the last option for the government."

Al-Jubouri pointed out that "increasing revenues is possible, through the border crossings, the tax base, and many other measures."

He called for "discussing practical measures that could reduce the negative effects of changing the exchange rate

AND YET !!!!!   -----> the iraq goverment has found a way to prolong what the every day hard working guy needs most ,  buying power for their money !  

[yota691]

The cabinet postpones the vote on the budget for tomorrow, Sunday

•  Time: 12/19/2020 14:56:14
•  
•  Read: 26 times

 

[yota691]

The cabinet fails to vote on the budget and postpones it for tomorrow

15:05 - 12/19/2020

 

  

Information / Baghdad.

On Saturday, the cabinet decided to postpone the vote on the 2021 budget until tomorrow, Sunday, after it failed to pass it on Saturday.

A brief statement of the Council of Ministers, received by / the information / stated that “it has been decided to complete the discussion of the Federal Budget of the Republic of Iraq for the fiscal year / 2021, tomorrow, Sunday.”

Earlier today, the Council held an extraordinary session chaired by Prime Minister Mustafa Al-Kazemi, to discuss the draft Federal Budget Law for the Republic of Iraq for the fiscal year / 2021. Ended 25

[yota691]

The Council Of Ministers Shall Vote On The Budget For Tomorrow, Due To No Agreement

Last updated Dec 19, 2020

 

Al-Mustaqilah // .. In the emergency session held today, Saturday, the Iraqi Council of Ministers failed to approve the draft federal budget bill for the year 2021 for the purpose of sending it to Parliament for approval.

 

A source said to the (Independent) that "the council decided to postpone its emergency session scheduled for this day to tomorrow, Sunday, which was scheduled to witness the vote on the budget law for next year."

 

For his part, the Media Office of Prime Minister Mustafa Al-Kazemi said in a brief statement that the Council of Ministers decided to complete the discussion of the Federal Budget of the Republic of Iraq for the fiscal year / 2021, tomorrow, Sunday.

The exchange rate of the US dollar against the Iraqi dinar rose during the days, by 140 thousand dinars against 100 hundred dollars, which is an unprecedented increase that the currency markets have not witnessed over the past few years. (End)

[GreedyDinar07]

Fails to vote on the budget! This is more frustrating than waiting on the exchange rate!! They need to get their s$%t together ASAP! 

[stanleypower]

5 hours ago, coorslite21 said:

Budget and HCL....same day......something to keep an eye on!     CL

Adam has always said the hcl and rate change would happen very close to one another. The budget, rate and hcl seem tied so I think you’re right, they all have to happen in succession of each other or at the same time. 

[jeepguy]

Geessss, hope they are not still  gripping about , % of the budget....

Seems they ran pretty good last budget. 

As can be expected from Iraq that is!

[6ly410]

Al-Kazemi during the budget discussion session: Either we correct the situation or "laugh" at the people

 

https://www.almaalomah.com/2020/12/19/510990/

 

Information / Baghdad

Prime Minister Mustafa Al-Kazemi stressed during the cabinet session on the budget debate, Saturday, that it is unreasonable to enter into the corruption equation again, as conditions should be corrected and people not laughed.

"Since 2003 we have been suffering from the wrong founding that threatens the political and social system with complete collapse," Al-Kazemi said in a statement reported by the Prime Minister and received by "the information".

He added that " Iraq may suffer from the collapse of the system and enter into complete chaos, or enter a Caesarean section for reform, and it is unreasonable to submit to the previous corruption equation, as it is in front of the option of correcting conditions or laughing at people."

And he said, "We adopted a white reform paper. All the developed countries of the world, such as South Korea, Singapore and the UAE, made difficult decisions and started with bold steps and a spirit of sacrifice."

He explained that "the political crisis in Iraq is linked to three issues, namely power, money and corruption, and work is being done to address the crisis from an economic standpoint, and with a bold decision to overcome the obstacles of corruption and money." 25 n

[horsesoldier]

 

I'd like to see the GOI/Cabinet Ministers " LAUGH " at the people . . . then see what happens next. I'd think UNCONTROLLABLE FURY from the the people would be likely. 

Of course this is yet another manufactured crisis . . . if they're not careful however, one miscalculation ( that's never happened before  ) they could be putting out the fire with gasoline and burning down the house.

 

 

 

 

[yota691]

Text of Al-Kazemi's speech during the session to discuss the general budget for 2021 (expanded)

•  Time: 12/19/2020 21:32:35
•  
•  Read: 8,489 times

  

(Baghdad: Al Furat News) The best of the Prime Minister, Mustafa Al-Kazemi, is between the collapse of the regime and the entry into complete chaos or entering into a Caesarean section for reform.

Al-Kazemi said, according to the government statement, Al Furat News received a copy of it, during the special session of the Council of Ministers to discuss the federal public budget for the fiscal year / 2021, “Since 2003 we have been suffering from the wrong establishment that threatens the political and social system to collapse completely. Either the system collapses and enters into chaos. Massive, or go into a caesarean section for repair. "
He added, "It is unreasonable to submit to the previous corruption equation, either to correct the situation or laugh at the people."
 "We adopted a white reform paper," Al-Kazemi added. "All the developed countries of the world, such as South Korea, Singapore and the UAE, have taken difficult decisions and started with bold steps and a spirit of sacrifice."
He pointed out that "the political crisis in Iraq is linked to three issues, namely power, money and corruption, and we are working to address the crisis from an economic standpoint, and with a bold decision to overcome the obstacles of corruption and money."
As he announced, "he is the first to be affected by the upcoming budget, and he will be subject to many criticisms," saying, "I could have entered the elections and deceived the people, but my conscience does not allow me to do so."
 Al-Kazemi said, "It is not permissible for anyone to hesitate, and whose place is not feared in the Council of Ministers, and we have to be up to the responsibility, as it is a historical and articulated issue."
He added, "The white paper and the reforms that we are carrying out have received international, regional and political support," stressing, "We seek, through the reforms we have adopted, to fight corruption and the corrupt, advance the Iraqi economy and create a better near future that preserves the dignity of citizens."
Wafa Al-Fatlawi

[yota691]

Comment from Al-Kazemi on the controversial budget and the dollar crisis

December 19, 2020

 

Al-Kazemi confirmed that his government will take on the "adventure"
Ultra Iraq - Editorial Team

On Saturday, Prime Minister Mustafa Al-Kazemi described the fiscal budget law for the coming year as a "gamble" and warned of "collapse" if reforms were not initiated.

Al-Kazemi said during the cabinet’s special session to discuss the budget, December 19, that the country “has been suffering since 2003 from the wrong establishment that threatens the political and social system to completely collapse,” indicating that his government faces two options, “either the collapse of the system and the entry into complete chaos, Or go into a cesarean section for repair. "

The Prime Minister added, "It is unreasonable for us to submit to the previous corruption equation, either we enter into an adventure and correct or laugh at people and drug them with appointments," stressing that his government adopted a "white reform paper" similar to the developed countries such as South Korea and Singapore, which "made difficult decisions, and began with steps." Bold and a spirit of sacrifice. "

Al-Kazemi stressed that "the political crisis in Iraq is linked to three issues, namely power, money and corruption. We are working to address the crisis from an economic standpoint, and with a bold decision to overcome the obstacles of corruption and money."

 

 

share

# Al-Kazemi's comment on raising the price of the dollar in the budget .. He



said that his government must go through the adventure .. and that he is "the most affected" and will be subjected to insults .. # Ultra_Iraq pic.twitter.com/GgI5JM6IZ0

 

- Ultra Iraq | Ultra Iraq (@UltraIRQ) December 19, 2020

 

Al-Kazemi also said that he is "the first to be affected by the upcoming budget," and that he "will be subject to criticism and insults in conjunction with the date of the upcoming elections."

The Prime Minister added, "I could have entered the elections and deceived the people, but my conscience does not allow me to do so," stressing, "It is not permissible for anyone to hesitate, and whose place is not in the cabinet, and we have to be up to the responsibility, as it is a historical issue." And articulated. "

Al-Kazemi explained, "The White Paper and the reforms undertaken by his government have received international, regional and political support," noting that his government seeks, "through reforms, to fight corruption and the corrupt, advance the Iraqi economy and create a better near future that preserves the dignity of citizens."