Tomorrow ... A New Group "Outside The Authorities" Will Enter The Line Of Discussion And Give Advice On The Budget !

[DinarThug]

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Parliamentary Finance resolves the date for approving the budget and identifies 3 points of contention

 

 

28th January, 2021

 

On Thursday, the Parliamentary Finance Committee decided the date for approving the budget, while it identified 3 points of contention in it.

The committee's reporter, Ahmed Al-Saffar, said in a televised interview, "We have reached the end of discussing the draft federal budget law for 2021, and 3 outstanding issues will be resolved, including the transfers.  He stressed, "There is no deduction in salaries and instead of income tax," noting that "the region's share, transfers and job grades are the most prominent obstacles in the draft law.

Al-Saffar referred to "a governmental agreement and to a parliamentary extent regarding the (SOMO) company and the Ministry of Natural Resources, but parties, blocs and representatives of political agendas want to put up barriers and obstacles to the agreement."  And that "the Ministry of Oil prefers to receive 250 thousand barrels from the region at a price (Sumo), because they sell oil for less than 9 to 11 dollars."

Al-Saffar concluded, "The exchange rate is within the authority of the Central Bank and has been changed under pressure from the Ministry of Finance, the International Monetary and the World Bank for loans that are not equal to oil revenues. And raising the exchange rate to 1450 dinars is a wrong decision that benefits speculators and harms citizens."

 

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Parliamentary Finance resolves the date for approving the budget and identifies 3 points of contention

 

29th January, 2021

[DinarThug]

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Parliamentary Finance: The budget will be ready for voting next Monday

 

 

29th January 2021

 

The Parliamentary Finance Committee clarified, on Friday, that all the difficulties that went through auditing the country's general budget, except for the share of Kurdistan, have been overcome, pointing out that next Monday's session in which the budget will be ready for voting, especially after a meeting that will be held tomorrow between the leaders of the political blocs and the committee

"The budget is currently in its recent negotiations, and most of the financial allocations have been agreed upon, with the exception of the share of the Kurdistan region," said a member of the committee, Representative Jamal Cougar, in a journalist

He added that "the next meetings of the committee will discuss non-oil revenues such as collection and income taxes such as taxes for mobile phones and others

Cougar stressed, "Next Monday's session will be the budget ready for voting pending the completion of the meeting of the leaders of political blocs with the Finance Committee in order to agree to pass it and determine the proportion of the Kurdistan region in it

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[DinarThug]

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"Weighing” the parliament to settle the region’s share in the budget next Saturday

 

 

 

14:26 - 01/29/2021

 

 

Today, Friday, the Parliamentary Finance Committee suggested that the draft budget bill be completed next Monday, indicating that the share of the Kurdistan region will be decided next Saturday.

Committee member Shirwan Mirza said in a statement received by the "information", that "most of the paragraphs of the draft federal budget law for 2021 have been completed. It is likely that the committee will vote on the draft law next Monday."

On the Kurdistan region’s share in the draft federal budget, Mirza said, “This issue will be resolved next Saturday, pointing out that the committee will meet with the political blocs in order to agree on that percentage and pass the bill.”

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Parliamentary Finance: To deduct the share of the Kurdistan region in the budget next Saturday  LINK

[DinarThug]

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Deputy: Voting on the 2021 budget next week ... 80% of its chapters will be deducted

 

 

 

12:20 - 29/01/2021

 

MP Mudhar Al-Karawi expected, on Friday, to vote on the 2021 budget next week.

"The 2021 budget has reached good stages after the resolution of more than 80% of its important chapters by the Parliamentary Finance Committee, and it is expected that it will be presented to the House of Representatives for a vote next week," Al-Karawi said.

Al-Karawi added, "The most complex problem that has not yet been resolved is the file of the Kurdistan region's entitlements in light of the variation in the narration regarding its treatment, but the meetings are continuing and we hope to reach solutions that lead to the budget move to the voting stage."

He pointed out that "fundamental changes have been placed in the budget, the most important of which is to reduce public government spending and conduct transfers of funds between doors."

The Parliamentary Finance Committee has been holding discussions for two weeks to complete the chapters of the budget before it is presented to the House of Representatives for a vote.  

[GreedyDinar07]

And of course there will be another delay, they usually take 3 to 6 months to pass a budget. Just sayin......

[DinarThug]

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A deputy explains Parliament's position on the dollar exchange rate and salary deductions

 

 

 

01/29/2021 16:36:29

 

 

The representative of the Sairoun Alliance, Amjad Al-Oqabi, said, Friday, that "the budget includes raising the dollar exchange rate and deductions for employees' salaries, and this will be the position of Parliament from them."
 

"The monetary authority’s decision to increase the dollar’s exchange rate to 145,000, as well as tax deductions from employees within the law of increasing state resources, did not find admissibility in the House of Representatives," Al-Aqabi said.

He stressed that "the House of Representatives will reject this decision and will not vote on it because the government imposed a tax on citizens from the basis in its decision to raise the exchange rate, and this decision will be rejected altogether."

[screwball]

10 hours ago, GreedyDinar07 said:

And of course there will be another delay, they usually take 3 to 6 months to pass a budget. Just sayin......

Yeah maybe but mist time almost every time passes by March 

[WheresmyRV?]

2 hours ago, screwball said:

Yeah maybe but mist time almost every time passes by March 

March or April yep.

[DinarThug]

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The Kurdistan Regional Government delegation visits Baghdad during the next two days

 

30th January, 2021

The Patriotic Union of Kurdistan revealed, on Saturday, that a delegation from the Kurdistan Regional Government is coming to Baghdad to confirm the agreement in the budget law.

A member of the Union, Faiq Yazidi, told Shafaq News, "A delegation headed by the Deputy Prime Minister of the Kurdistan Regional Government, Qubad Talabani, will visit Baghdad within the next two days to complete the dialogues and agreement with the Parliamentary Finance Committee to confirm the agreement between Baghdad and Erbil in the General Budget Law." He indicated that the previous delegation answered all the inquiries of the Parliamentary Finance Committee and provided the necessary data to the committee, indicating that the current delegation will complete the dialogue to implement the agreement and confirm it before voting on the budget law.

The President of the Kurdistan Regional Government, Masrour Barzani, met yesterday, Thursday, with the delegation negotiating with the federal government on the issues of oil and the federal budget for 2021. In the meeting attended by the Deputy Prime Minister and head of the negotiating delegation, Qubad Talabani, the latest developments regarding the course of the talks with the federal government were presented.

The negotiating delegation indicated that "discussions with the federal government are continuing, with the aim of reaching an agreement that guarantees the rights and financial dues for the Kurdistan Region under the constitution." The negotiating delegation is scheduled to return to Baghdad next week to resume talks with the federal government.

It is noteworthy that a delegation from the Kurdistan Region headed by Vice President of the Regional Government, Qubad Talabani, visited Baghdad last week and met with a number of officials and heads of the blocs to discuss the draft federal budget bill for the year 2012 and ways to find a common vision on the controversial points in the budget law.

[DinarThug]

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Tomorrow ... a new Kurdish delegation will visit Baghdad in a last attempt before the budget is passed

 

 

 

14:15 - 01/30/2021

 

MP for the Patriotic Union of Kurdistan, Taha Amin, confirmed on Saturday that the Kurdistan Regional Government delegation will return to the capital, Baghdad, tomorrow, Sunday.

Amin said in a statement to Al-Maalouma, that “a Kurdish delegation headed by the Deputy Prime Minister of the Kurdistan Regional Government, Qubad Talabani, and the membership of both the Finance Ministers, Awat Sheikh Janab, and Planning Dara Rashid and the region, Khaled Shawani, and other officials will visit Baghdad tomorrow, Sunday, in a final round before presenting the budget to Voting in Parliament”.

He added that "the visit aims to stabilize the region's share in the budget and to agree on mechanisms to deliver the agreed quantity of oil, which is 250 thousand barrels of oil, and will it be delivered in cash or a quantity to SOMO." Amin pointed out that "we hope that there will be a response to the last visit, because the one who is most affected by the failure to reach an agreement will be the Kurdish people."

[DinarThug]

“80% of the budget paragraphs are completed.” Disclosure of the latest developments in the meetings with the Kurdistan delegation in Baghdad

 

Posted 27 seconds ago

Baghdad today - special

 

Member of Parliament, Mudhar Al-Karawi, revealed, on Saturday, January 30, 2021, the latest developments in the continuous meetings of the Kurdistan delegation with Baghdad regarding the region's share of the 2021 budget

Al-Karawi said in an interview with (Baghdad Today), that “the meetings between the Kurdistan Region delegation and the governmental and parliamentary committees are still continuing, in order to resolve the problems in the 2021 budget, in terms of determining the region’s share and the rest of the pending issues,” indicating that “there are positive signs of a solution. All these problems are through the convergence of viewpoints between the two parties

He added that "Kurdistan's share in the 2021 budget is considered one of the complex files compared to the rest of the other files," noting that "80% of the budget chapters have been decided so far, and we expect  that this week will be decisive in ending the rest of them

He pointed out that "the end of this week may witness the presentation of the budget law in order to vote on it in Parliament

Earlier, a member of the Kurdistan Regional Parliament, Othman Karim, confirmed, today, Saturday, that the Kurdish delegation that visited Baghdad recently provided a full explanation and answered all questions and inquiries, and there were no options left for members of Parliament because they did not vote on the region’s share

It is expected that a new delegation will arrive in Baghdad tomorrow, Sunday, to hold the last meetings in order to reformulate the Baghdad-Erbil agreement and include it in the federal budget

Karim said in an interview with (Baghdad Today) that "technically, there is reassurance that the stabilization of the region's share in the budget has been completed, although there are problems with the method of delivering 250 thousand barrels of oil, in cash or in cash

He added, “The matter is now in the hands of the political blocs, and what we fear is that the region’s budget is subject to political conflict and an attempt to disrupt it in Parliament. Therefore, it is assumed that a prominent political delegation representing the various Kurdish forces will arise in order to try to persuade the parliamentary blocs to ensure their vote on Kurdistan’s share in the budget, because It is up to them, not the government or the financial committee

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[boosterbglee]

Thanks for all the news you big clown!😂

[DinarThug]

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A decisive political meeting to end the budget crisis and agree on a date for its launch

 

 

09:10 - 01/30/2021

 

 

A member of the Parliamentary Finance Committee, Jamal Cougar, revealed, on Saturday, an agreement to hold a meeting between the heads of political blocs and the head of the committee, Haitham al-Jubouri, to resolve the agreement on the proportion of the Kurdistan region, expecting the end of the budget amendment next Monday.

Cougar said in a statement to / the information /, that "the head of the committee, Haitham al-Jubouri, will hold a meeting with the heads of political blocs in Baghdad on Saturday and inform them of the details of the talks, and then come up with an agreement on the proportion and share of the region after being authorized as someone before the committee."

He added, "The Kurdish delegation returned to Kurdistan after presenting the budget details, employee expenditures and the quantities of oil exported from the region, and they expressed their full readiness to abide by the draft budget for the delivery of 250 thousand barrels of oil."

Cougar explained, "The budget will be ready Monday to vote and pending the completion of the meeting of the leaders of the political blocs in order to agree on its passage and the proportion of the Kurdistan region."

[DinarThug]

New text in the draft federal budget in Iraq to establish a special petrodollar fund

 

 

January 31, 2021

 

Mubasher: The Financial Committee in the Iraqi Parliament announced today, Saturday, the addition of a new text in the draft federal budget law for 2021. 

 

The Media Department of the House of Representatives stated in a statement carried by the Iraqi News Agency (INA), that "the Finance Committee added a text in the draft Federal Budget Law for 2021, which includes the establishment of a special petrodollar fund for oil and gas producing provinces to implement projects and provide services." 

 

Today, Saturday, Parliament Speaker Muhammad al-Halbousi chaired a meeting of the Parliamentary Finance Committee, to discuss the draft federal budget bill for the fiscal year 2021.

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[DinarThug]

Al-Jubouri to the World Bank Mission: Many reform measures were included in the budget

News source / Mawazine News

 

Economy


12:03 - 01/31/2021

 

Baghdad - Mawazine News,

Chairman of the Parliamentary Finance Committee, Haitham Al-Jubouri, discussed with the representative of the World Bank delegation in Iraq, Ramzi Numan, the draft budget bill for 2021.

A statement stated, “Chairman of the Finance Committee, MP Haitham Al-Jubouri, received the representative of the World Bank mission in Iraq, Ramzi Numan Draft Federal Budget Law for 2021 ”.

He added, “The meeting discussed the great challenges facing the Finance Committee, during its discussions of the draft budget in light of an unstable economic and financial situation, whether in Iraq or the world, imposed by the Corona pandemic.

Al-Jubouri stressed, according to the statement, that “the Finance Committee had a major challenge in the budget represented in the huge deficit and tremendous growth in expenditures without actual reform measures,” indicating that “the committee included a lot of reform measures and rearranging the budget formulation with an economic outlook that reduces pressure on Oil revenues by supporting non-oil resources such as border crossings, collection and private sector support to stimulate the Iraqi economy.

For his part, Numan said: “The World Bank supports the reform process to revive the Iraqi economy and solve its structural problems,” stressing at the same time that the bank had restored to support investment and development projects in Iraq.

In another context, Speaker of Parliament Muhammad al-Halbousi chaired the thirty-fifth meeting of the Parliamentary Finance Committee, in which it continued its discussions on the draft federal budget bill for 2021.

A statement by the Media Department in the House of Representatives stated that the Speaker appreciated the efforts of the Finance Committee in its discussions to balance the current year and bear the burdens of the confusing financial and economic situation in the country.

He added, "Al-Halbousi presented a set of proposals and ideas that could be included in the draft law that would contribute to the development of the agricultural sector, such as obligating the government to pay farmers' dues and supporting this important segment in the country, and supporting the industrial sector and the private sector to create opportunities for unemployed youth."

The statement indicated that "the Finance Committee included a text in the budget that includes the establishment of a special fund for petrodollars for the provinces producing oil and gas to implement important projects and provide services at the level of all sectors."

He continued, "The meeting discussed supporting the liberated governorates and providing adequate allocations to the fund for their reconstruction, as well as the need to support the stabilization program to enable the displaced to return to their homes voluntarily." Ended 29 / A 87

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[DinarThug]

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A member of Parliamentary Finance confirms that discussion of about 40 articles of the draft budget law has ended

 

 

31st January, 2021

 

A member of the Parliamentary Finance Committee, Representative Shirwan Mirza, confirmed, on Sunday, that the committee has finished discussing about 40 articles of the draft budget law

Mirza said in a press interview, that the committee will discuss during today's meeting, amending the articles and paragraphs of the budget bill and preparing them for voting by the House of Representatives, indicating that the Finance Committee has finished discussing about 40 articles of the draft law

He noted that the draft budget law will be ready for a vote in the House of Representatives during the current week

[DinarThug]

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Al-Tamimi: We pressed 34 trillion into the budget and continues to maximize government revenues

 

 

31st January 2021

 

A member of the Parliamentary Finance Committee, Magda Al-Tamimi, stated, on Sunday, that her committee was able to squeeze 34 trillion dinars from the total amount of the general budget sent by the government, confirming that work will be made to maximize government revenues

Al-Tamimi said in a press interview, "The Finance Committee has made a great achievement after reducing the budget by about 34 trillion dinars, in a preliminary way, and is continuing to increase state revenues

She added that "some government revenues are collected in a very simple way, up to a few dinars, while they should be in the millions and for a long time to increase and maximize government revenues

On the other hand, Al-Tamimi explained, "The committee is awaiting the final response of the Kurdistan Regional Government to include the paragraphs on the region’s proportions and the understanding on the final version

[DinarThug]

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A parliamentary request to change the exchange rate of the dollar in the 2021 budget

 

 

31st January, 2021

 

The Parliamentary Economic and Investment Committee revealed, on Saturday, that a request has been submitted to change the exchange rate of the US dollar to 130,000 Iraqi dinars in the general budget law for 2021.

A member of the committee, Mazen Al-Faili, told Shafaq News, "Members of Parliament collected signatures and submitted them as a request to the Parliamentary Finance Committee to change the exchange rate of the dollar against the Iraqi dinar in the budget law."

Al-Faili added, "The request submitted by members of Parliament includes changing the dollar’s exchange rate and calculating it at 130,000 dinars for every $ 100 instead of the current approved price." Al-Faily pointed out that "the Parliamentary Finance Committee will, in turn, submit a proposal to change the exchange rate to the Central Bank before changing it in the budget law."

The Presidency of Parliament announced on (December 29 last) the arrival of the draft budget bill from the Council of Ministers in preparation for discussion and approval.

The Parliamentary Finance Committee has previously confirmed its inability to change the exchange rate of the Iraqi dinar against the US dollar, indicating the stability of the exchange rate after the approval of the 2021 budget law.

The Central Bank of Iraq had decided to raise the price of selling the dollar to banks and exchange companies to 1460 dinars, from 1182 dinars to the dollar, with the aim of compensating for the decline in oil revenues caused by the deterioration of oil prices.

[Inbedded HorseHead]

Wish that stated 130 per $100.....

[DinarThug]

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Parliamentary Finance expects: Approval of the 2021 budget within the next two days
 

10:34 - 01/31/2021

 

Member of the Parliamentary Finance Committee, Thamer Theban, expected, on Sunday, the passage of the draft federal budget law for 2021 within the next two days, while noting that the allocations of the center and the south will be among the allocations for the development of the regions.

Theban said in a statement to / information /, that "there is a very high possibility of passing the budget this week for a vote," noting that "disagreements from some blocs and MPs over the region's share still exist."

He added, "The allocations of the center and the south are among the allocations for the development of regions," pointing out that "the vote on the budget by the House of Representatives will be within the next two days."

A member of the Parliamentary Finance Committee, Ahmed Hama Rashid, confirmed in a previous statement that the budget will soon be presented for a vote in Parliament. 

[DinarThug]

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An economist explains how to reduce the dollar exchange rate

 

 

 

01/31/2021 11:51:52

 

 

Economic expert Basem Jamil Antoine explained the way to reduce the exchange rate of the dollar against the Iraqi dinar, indicating that there must be a plan and study and not to go with "moodiness".

Antoine said in an interview with the Euphrates News Agency, "I was the first to demand an increase in the value of the dollar and a reduction in the Iraqi dinar by a lower rate than the current one, indicating that instead of being 23.5%, I demanded to make it 10% so that there is no major shock to the citizen, which leads to negative repercussions. On the market."

He continued: "After we lowered 10% of the value of the dinar and anticipated the price of a barrel of oil, it began to rise over a period of six months, we noticed that with the recovery from Corona cases, the global economy began to increase demand for oil and the price of oil began to rise from the forties to above fifty."  He added that "the high price of a barrel of oil provides the government with great potentials. Every dollar that rises against the dinar leads to a reduction in the budget deficit of one trillion dinars." 
 

The economic expert pointed out that "the House of Representatives has many statements and they do not have one voice or opinion, and the government as well," pointing out that "it is supposed to collect 113 signatures for the House of Representatives to reduce the value of the dollar to 1300." 

Antoine added, "There must be a study based on raising the price or reducing the price, as the issue is not" moody ".  The expert Antoine expects that "the price will stabilize as it is now and will not be reduced in the future."   

[DinarThug]

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Sairoun: Raising Or Lowering The Exchange Rate Of The Currency Is The Exclusive Authority Of The Government

 

 

31st January, 2021

Member of Parliament for the Saeron Alliance, Riad Al-Masoudi, affirmed that "raising or lowering the currency exchange rate is the exclusive authority of the government in accordance with the law and the constitution."

Al-Masoudi said in a press statement by the Independent: “Articles 78 and 80 are clear about the government's authority to manage the country, economic planning and financial policy, which are all exclusive to the executive authority.” He added, "The raising or lowering of the currency rate is an exclusive prerogative and part of the government's measures to reform the economy."

Al-Masoudi explained: “The role of the House of Representatives is legislative, supervisory, and representative exclusively in accordance with Article 68 and its constitutional paragraphs.” He pointed out: “The parliament’s role is in relation to collecting signatures, either issuing representative orders to form committees or issuing decisions on a specific issue, which are not binding and give the representative opinion of Parliament.”

It is noteworthy that the parliamentary signatures exceeded 100 signatures requesting the government to reconsider reducing the price of the local currency against foreign currencies.

[DinarThug]

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Deputy for Saeron: The budget is in its final stages

 

 

 

 

13:12 - 31/01/2021

 

A member of the House of Representatives from the Alliance of Saeron Salam al-Shammari stressed, on Sunday, the importance of approving the budget at the earliest opportunity because of its clear impact on the life, economic and financial reality in the country.

He said in a press statement that "the information" received, a copy of it, that "the meetings of the Parliamentary Finance Committee are continuing with all parties in order to reach the required consensus before submitting it to the vote."

Al-Shammari added, "The main obstacle, which we hope will be resolved, is the negotiations with the Kurdistan region about the budget and other matters, and if it is resolved or agreed upon, then the budget will be legislated without problems."

Al-Shammari stressed "the importance of ending any disagreement and expediting the approval of the budget without fundamental differences", likely "passing it during the current week." 

[wildeman]

Thanks DT. Well looks to me we have gone from "soon" to "likely".  Improving 👍 Thanks for all the info. 🙏

[DinarThug]

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Kuwait postpones debts on Iraq to next year

 

 

31st January, 2021

The State of Kuwait promised to postpone the debts owed by Iraq to next year.

The head of the Finance Committee, Haitham Al-Jubouri, said, "The Kuwaiti side promised to postpone the debts on Iraq until next year.

A parliamentary delegation had paid an official visit earlier to the State of Kuwait.