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Parliamentary Finance: To vote on the new Iraqi budget within two weeks


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One thing I know is we will see a shakeout rate and then shortly a big rate..,no one in their right mind would launch the isx on the international market and allow international companies to buy up huge chickens of their companies. It does not work this way it’s always for the benefit of the owners. Is it better to have a 1000 small investors or 1 huge investor, who has greater control

more say? Less than 1:1 will

NOT work opinions aside this is not sound business practice will

not reduce deficit and will

allow them

to reconstruct or

pay salaries or welfare even rebuild critical infrastructure and defence

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Parliament announces that its work will continue until the budget is approved Feb 4, 2021   The Speaker of Parliament, Muhammad al-Halbousi, announced today, Thursday, that the pa

https://shafaq.com/en/Iraq-News/The-2021-budget-law-draft-is-ready-to-be-voted-on-in-the-Iraqi-Parliament     2021-01-28 16:28 A- A A+ Shafaq News / A Parliamentary

Lock the doors no food no coffee and NO POTTY BREAK!!!!!  Start cooking food in the cafeteria so they can smell it and that will make them pass everything. Thank you DWS112

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Ministry of planning website had a contract rate of around 1.22 this meant companies had to use this rate to tender for contracts allowing for inflation CPI $1.46 is more the likely the rate. Then expect a boom rate quickly of around $3-5.

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https://shafaq.com/en/Iraq-News/The-2021-budget-law-draft-is-ready-to-be-voted-on-in-the-Iraqi-Parliament

 

image.thumb.png.ade7e04df33392a12fb9dff522f31bc0.png

 

2021-01-28 16:28
A- A A+

Shafaq News / A Parliamentary source said that the General Budget Law draft for 2021 is ready for voting in Parliament.

 

The source told Shafaq News Agency that the budget law has become ready after amendments were made to some of its articles, and the deficit was reduced by 50%."

 

The source added, "the Parliamentary Finance Committee will distribute copies of the revised draft to the heads of political blocs 24 hours before the date of the voting session", noting that next Monday, the parliamentary sessions will be resumed, and the budget law will be voted on."

 

Next Tuesday will be the last day of the legislative term of the council of Representatives after it has been extended for a month, while Wednesday will be the first day of the legislative recess.

 

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It would make it easy to reconcile on the books beginning on the 1st of the month. They could even re-reconcile January with the new rate. Sounds good to me!! :crossedfingers:

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The information / Baghdad ..

A member of the Parliamentary Finance Committee, Representative Siham Al-Aqili, revealed today, Friday, the fate of the five-year vacation in the Federal Budget Law.

Al-Aqili said to / the information /, that "the 2021 budget law includes granting five-year leave to employees with a nominal salary within the 2021 budget."

And she affirmed, "Activating the new tax law and subjecting all state employees in the presidencies, ministries, and institutions not associated with a ministry to it," indicating that "the instructions in the law included a discrepancy with deduction if the wife was employed or not, as well as the number of children."

She explained that "the Finance Committee added a new item that supports the private and public sectors," noting that "the 2021 budget will be completed within the next week."

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

Political11:57 - 01/29/2021

 
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Baghdad - Mawazine News
The Parliamentary Finance Committee suggested that the draft budget bill be completed next Monday, indicating that the decision for the Kurdistan region’s share will be decided next Saturday.
Committee member Shirwan Mirza said, "Most of the paragraphs of the federal budget bill 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." Ended 29 / H

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The Parliamentary Finance Committee clarified, today, 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 statement to "Tigris" .

 

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 that "next Monday's session in which the budget will be 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 "

 

The Finance Committee had confirmed to the "Tigris", yesterday, Thursday, that it authorized its head, MP Haitham al-Jubouri, to negotiate with the leaders of political blocs in the terms of the budget. The meeting of the two parties will be held tomorrow, Saturday.

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Al-Maaloumeh / Baghdad,
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 reducing public government spending and making transfers of funds between sections."
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. End 25

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calendar.png 01/28/2021
 

Baghdad / Al-Mawred News

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; but it will be resolved in the next three days in the committee's meetings, and its focus will be on the productive and investment sectors."
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 (SOMO), 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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MP Mudhar Al-Karawi expected, today, Friday, to vote on the 2021 budget next week.
Al-Karawi said, "The 2021 budget has reached good stages after the resolution of more than 80% of its important chapters by the Parliamentary Finance Committee, which is expected to be presented to the House of Representatives for a vote next week."
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 reducing public government spending and making transfers of funds between sections."
"The Parliamentary Finance Committee has been holding discussions two weeks ago to complete the chapters of the budget before submitting it to the House of Representatives for a vote."

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After reviewing reports on oil and gas, Al-Samarrai talks about two opportunities that provide job opportunities and huge sums of money

 

 

224 Policy 2021/01/29 13:46 ha Baghdad today -

Baghdad The Deputy Chairman of the Parliamentary Finance Committee, Muthanna Al-Samarrai, spoke on Friday (January 29, 2021), about two opportunities that will provide thousands of job opportunities and huge funds for the country, after the committee reviewed the reports on oil and gas. Al-Samarrai said, in a tweet on his Twitter platform, followed by (Baghdad Today), that "after the Financial Committee examines the professional reports of the delegations of the Office of Financial Supervision and the Ministry of Oil regarding oil and gas, free will is needed to save our economy and take national decisions to invest the two wealth." . He added, "Completing the construction of the Karbala refinery and completing the reconstruction of Baiji refinery will provide thousands of job opportunities and a lot of money." Yesterday, the Finance Committee held the 34th meeting regarding the draft federal budget bill for 2021. The committee said in a statement received (Baghdad today), that it "continued its meetings on the draft of the project and hosted the Office of Financial Supervision, the Oil Products Distribution Company and the Central Refineries Company."

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by Editor Iraq news 2 Hours ago

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The Parliamentary Finance Committee announced the activation of the tax law on all employees in the current year 2000 budget.

As a member of the Parliamentary Finance Committee, Siham Al-Aqili, confirmed the activation of the new tax law and subjecting all state employees in the presidencies, ministries, and institutions not associated with a ministry of law, indicating that the instructions in the law included disparities with deduction.

With regard to the five-year leave, Al-Aqili said that the current year's budget law included granting leave to employees with a nominal salary, noting that all employees, including applicants for five years leave, are included in the new income tax law.

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Yes Iraq: Baghdad

 

The Parliamentary Finance Committee clarified, on Friday, that all the difficulties that went through auditing the country's general budget with the exception of 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 member of the committee, Representative Jamal Cougar.

 

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 said, "Next Monday's session will be the budget ready for voting pending the completion of the meeting of 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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Yes Iraq: Baghdad

 

The Parliamentary Finance Committee revealed a staggering number that is paid to double salaries in the Iraqi state, and salaries of up to 4 months, represented by 20 trillion Iraqi dinars, are sufficient.

Committee reporter Ahmed Al-Saffar said, in televised statements, that "it is assumed that there will be a fair distribution and accurate allocation of funds," noting that "the points of financial waste in the budget are considered (misfortune), especially with no knowledge of the number of employees in the state."

Al-Saffar confirmed that "the file of double salaries in the state, will provide up to 20 trillion dinars, if there is no mechanism to solve this file."

 

And he indicated that "with a single budget, it is not possible to solve the problems of all the provinces that are the product of previous financial and economic policies that neglected the provinces," noting that "the city of Basra, for example, was supposed to allocate a financial fund for it to put a percentage of every barrel of oil out of it."

 

For his part, a member of the Parliament’s Finance Committee, Jamal Cougar, had revealed that aliens and double-payers cost the state up to two billion dollars a month, forcing it to secure 5.5 billion dollars a month for salaries only.

 

 

Earlier, the Minister of Finance, Ali Abdul-Amir Allawi, confirmed, earlier, that more than 10% of the employees are space personnel and double-salaries.

Allawi said in a press statement, "The economic situation is bad and we are working to strengthen it through non-oil resources," pointing out that "more than 10 of the employees in the Iraqi state are aliens and double salaries."

He added, "The current prime minister, Mustafa Al-Kazemi, does not bear what Iraq is going through," noting that "his government cannot be held responsible for the financial problems that plagued the country."

Allawi stressed that "the government is fighting corruption with full force in all state institutions," indicating that "the economic situation is bad and the government is heading to work to strengthen the Iraqi economy by relying on and maximizing non-oil resources."

 

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17 hours ago, screwball said:

Let’s behonest most central banks aim to increase foreign currency reserves this would include dinar for the us

My question is why would the us keep the iqd in the us reserves after dinar investors exchange dinar for dollars? As we all know that Iqd isn't a globally recognized currency, therefore the iqd can be used to buy goods in country of iraq only. If the us keep the globally recognized currency, like the canadian dollar or british pound, then this is a okay. On the other hand, if iraq keep usd in iraq reserves, then this is the right thing to do because usd is globally recognized currency and can also be used to buy goods in iraq. That's why I just don't get it why the us has to keep the foreign currency that isn't globally recognized currency yet, like iqd? Does the us keep the iqd in us reserves just in case when the rate of iqd rises at least 1:1, then the us reserves will return iqd back to cbi and exchange dinar for dollars in order to get a profit from rv? Or does the us keep the iqd in us reserves in order to become foreign currency collectors?

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6 hours ago, rvmydinar said:

My question is why would the us keep the iqd in the us reserves after dinar investors exchange dinar for dollars? As we all know that Iqd isn't a globally recognized currency, therefore the iqd can be used to buy goods in country of iraq only. If the us keep the globally recognized currency, like the canadian dollar or british pound, then this is a okay. On the other hand, if iraq keep usd in iraq reserves, then this is the right thing to do because usd is globally recognized currency and can also be used to buy goods in iraq. That's why I just don't get it why the us has to keep the foreign currency that isn't globally recognized currency yet, like iqd? Does the us keep the iqd in us reserves just in case when the rate of iqd rises at least 1:1, then the us reserves will return iqd back to cbi and exchange dinar for dollars in order to get a profit from rv? Or does the us keep the iqd in us reserves in order to become foreign currency collectors?

Because countries will use their currency in trade not the usd, countries will have adjust their value against another countries currency if they are to trade based on their asset value including gold. She if Iraq determines that their is 5usd for ever one dinar then if the usd hold dinar then this adds to the uscreserves and their asset value. The us then set s value for the usd based on their asset value so they can trade. Simple. No more usd as reserve currency status as per trump all countries are in a level playing field in term of currency his words some will go up so will go down 

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