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

[yota691]

 

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

 

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 2021-01-30 12:17

 

Shafaq News / 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-Faily added, "The request submitted by members of Parliament includes changing the dollar’s exchange rate and calculating it at 130,000 dinars per $ 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.

[yota691]

 

The Iraqi parliament adds a text in the budget to establish a special "petro dollar" fund

 

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 2021-01-30 10:06

 

Shafaq News / On Saturday, the Finance Committee of the Iraqi parliament decided to add a text in the 2021 general budget to establish a special fund for "petro dollars."

 

The Parliament's Media Department said, in a statement received by Shafaq News Agency, that the Finance Committee added a text in the draft federal budget bill for 2021, which includes the establishment of a special petro-dollar fund for oil and gas producing provinces to implement projects and provide services.

 

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

[yota691]

Sunday 31 January 2021 | 11:29 a.m.

| Views: 224

Parliamentary Finance continues its budget meetings

 

 

 

 

The Parliamentary Finance Committee held its thirty-sixth meeting today, Sunday, to continue its discussions on the draft federal budget bill for the current year 2021.

[yota691]

Parliamentary Finance reveals the most prominent of what was discussed in the presence of Al-Halbousi ... and agrees to include proposals

•  Time: 01/30/2021 23:32:19
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•  Read: 10,972 times

 

  

{Baghdad: Al Furat News} Speaker of Parliament Muhammad Al-Halbousi chaired, today, Saturday, the thirty-fifth meeting of the Parliamentary Finance Committee, in which it continued its discussions on the draft federal budget bill for 2021.

The council’s media department stated, in a statement that Al Furat News received a copy of, that “at the beginning of the meeting, Al-Halbousi valued the efforts of the Finance Committee in its discussions for the current year’s budget and bearing the burdens of the confusing financial and economic situation in the country.”
She 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, supporting this important segment in the country and supporting the industrial sector and the private sector to create opportunities for unemployed youth."
And continued, "The Finance Committee also included a text in the budget that includes the establishment of a special fund in petrodollars for oil and gas producing provinces to implement important projects and provide services at the level of all sectors."
And she indicated, "The meeting will discuss supporting the liberated governorates and providing adequate allocations for 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."
Wafa Al-Fatlawi

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A member of Parliamentary Finance reveals the number of budget articles in which the debate ended

•  Time: 01/2021/31 11:28:46
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•  Read: 3,276 times

  

{Baghdad: Al Furat News} A member of the Parliamentary Finance Committee expected to vote on the draft federal budget bill for 2021 this week.

Sherwan Mirza said in a press statement, "The Finance Committee will discuss during today's meeting, amending the articles and paragraphs of the draft budget law and preparing them for voting by the House of Representatives," noting that "the Finance Committee has finished discussing about 40 articles of the draft law."
He explained, "I think that the draft budget law will be ready for a vote in the House of Representatives this week."

[yota691]

An economist explains how to reduce the dollar’s exchange rate

•  Time: 01/31/2021 11:51:52
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•  Read: 6,786 times

  

{Baghdad: Al Furat News} 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 "moody".

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 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."   

[yota691]

Parliamentary Committee: The budget is in its final stages, and its approval will pass without fundamental differences

•  Time: 01/2021 12:43:00
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•  Read: 2,405 times

  

{Baghdad: Al-Furat News} The head of the Parliamentary Agriculture and Water Committee, Salam Al-Shammari, stressed today, 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.

In a statement, Al-Furat News received a copy of it, Al-Shammari said, "The meetings of the Parliamentary Finance Committee are continuing with all parties in order to reach the required consensus before presenting them to the vote."
He added, "The main obstacle, which we hope will be resolved, is the negotiations with the Kurdistan region on the budget and other matters, and if it is resolved or agreed upon, then the budget will be legislated without problems."
He stressed "the importance of ending any disagreement and expediting the approval of the budget without fundamental differences," likely "passing it during the current week."

The Finance Committee had recently added a text to the draft budget that includes the establishment of a special petro-dollar fund for oil and gas producing provinces, with the aim of implementing projects and providing services, according to a statement issued by the Information Department of the House of Representatives.
Committee member Jamal Cougar said in a press interview, that his committee "will soon finish the draft budget despite the obstacles it faces, the most important of which is the region’s share that has not yet been resolved and negotiations are still continuing, as well as new developments that appear from time to time."
He pointed out that "the benefits of farmers, including those in Kurdistan, have been included in the draft budget, and the clause of employee salaries deductions has not been resolved yet," on the other hand, a vote on the budget is expected this week.
The Speaker of Parliament, Muhammad al-Halbousi, had directed the Finance Committee to add a clause in the budget law, considering farmers' dues as governing expenditures.

Hussein Hatem

[yota691]

MP stresses canceling licensing rounds and replacing them with "more beneficial for Iraq"

•  Time: 01/31/2021 15:15:00
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•  Read: 793 times

  

{Baghdad: Al Furat News} The deputy of the National Approach bloc, Mazen Al-Faili, stressed, on Sunday, the cancellation of the licensing rounds and their replacement with a formula "more beneficial to Iraq" according to what the constitution stipulated

"We refuse to allocate the large sums approved by the General Budget Law for the year 2021 to the oil licensing tours companies, and we believe that these tours have hurt the Iraqi economy a lot, as they drain huge and large sums annually."

And "the data indicate that the percentage of profits earned by these companies is equal to 15% of Iraq's total oil revenues for the year 2021, as the allocations for the licensing rounds within the budget in 2021 amounted to fourteen trillion dinars."

Al-Faily added that "if we looked at the numbers and data, we would find that the licensing round contracts started their activities from the commencement line. Oil production was with a national effort of up to (2.1) million barrels per day," indicating that "those percentages of their dues are measured by the value of Iraq's oil revenues resulting from their undertaking." "For work, it will reach approximately (27%) of the total Iraqi oil revenues for the year 2021, as it is expected that the total oil revenues for this year 2021 according to the budget law will be 93 trillion dinars."

He pointed out that "on the basis of these data and figures, we stress the call to cancel the licensing rounds and replace them with a formula that is more beneficial to Iraq in accordance with what is stipulated in the Iraqi constitution." 

Forgiveness Al-Khalidi

[yota691]

Parliamentary Finance sets the date for ending its discussion of the budget

16:55 - 01/30/2021

 

  

Information / Special ...

The Parliamentary Finance Committee has set, Saturday, the date for voting on the draft federal budget law for 2021.

A member of the committee, Ahmed Hama, said in a statement to / information /, that "the Finance Committee has set a date for next Monday to vote on the draft federal budget law for 2021," noting that "the committee has fixed all the paragraphs related to contracts and the daily procedure."

He added that "most of the paragraphs in the budget have been amended and will be presented for voting in the House of Representatives," noting that "the Finance Committee will vote on Monday on the budget items and then send them to the Presidency of the House of Representatives for the House to vote on it completely.

The deputy for the Al-Fateh Alliance, Zahra Al-Bajari, confirmed, last Thursday, that the Finance Committee will present its proposals that it reached regarding the draft federal budget law for 2021 for the presidency of Parliament next week.

The Parliamentary Economic and Investment Committee confirmed, earlier, that the House of Representatives and the Parliamentary Finance Committee will reduce the public budget deficit for 2021. 25 T.

[yota691]

Parliament announces the addition of a new text for the 2021 budget

Economie

2021-01-30 | 11:01

 

20,809 Views

 

On Saturday, the House of Representatives announced the addition of a new text to the draft 2021 budget bill related to oil and gas producing provinces.

The Media Department of Parliament said in a brief statement, "The Finance Committee added a text in the draft federal budget bill for 2021, which includes the establishment of a special petro-dollar fund for the provinces that produce oil and gas."

 

 

 

She attributed this to "implementing projects and providing services."

[yota691]

Iraqi official: Changing the price of a barrel of oil in the budget will reduce the deficit

Oil in Iraq - archive photo

 Jan 30, 2021 6:16 PM

 

Mubasher: The advisor to the Iraqi prime minister, Mazhar Muhammad Salih, said that changing the price of a barrel of oil in the budget will reduce the deficit.

Today, Saturday, the advisor to the prime minister revealed a lack of revenue and funding, according to statements to the Iraqi News Agency (INA), today, Saturday.

Saleh added that oil revenues constitute 83 percent of the budget, and actual expenditures amount to more than 90 percent.

The advisor to the Prime Minister indicated that in the Financial Management Law, the price of a barrel of oil depends on the price, and the price is conservative for fear of market fluctuations.

He added, "The government is facing a shortage of revenues and funding," noting that "the first draft of the budget entered the House of Representatives and included setting the price of a barrel of oil at 42 dollars, which is a conservative price, but it is now sold for more than that, and what we care about is the average oil price for the year 2021." ".

Saleh added, "If the House of Representatives adjusts the price, it will be useful, and the amendment will be $ 3, equivalent to $ 3 billion, and this reduces the deficit," explaining that "if the parliament changes the price of a barrel of oil, then it must be in coordination with the government to be The implementation of the budget is clear to all. "

He stressed that "non-oil revenues are very important, but their discipline is weak except in customs collection and the returns of state assets," noting that "the government today is determined to diversify and maximize revenues, and it is under the budget, but it is difficult to place restrictions on its head."

[yota691]

New text in the draft federal budget in Iraq for the establishment of a special petrodollar fund

 

 January 31, 2021 12:45 AM

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 has added a text in the draft Federal Budget Law for 2021, which includes the establishment of a special petrodollar fund for the provinces producing oil and gas 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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Kurdistan Region’s amount in 2021 federal budget to be reduced due to general cuts: Iraqi official

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Khazan Jangiz

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KURDISTAN

A general view of Iraqi parliament in session. Photo: AFP

 

ERBIL, Kurdistan Region — The Kurdistan Region’s allocation of almost 14 trillion Iraqi dinars in the draft federal budget for 2021 will shrink as a result of the finance committee squeezing the overall budget for the country, a member of Iraqi Parliament’s finance committee told Rudaw on Sunday.

The budget amount for the Kurdistan Region, which had previously been allocated by the Iraqi government to more than 13 trillion and 900 billion dinars, will be reduced, Ahmad Saffar told Rudaw’s Aso Fishagi on Sunday, just a day after the announcement of a general slashing of unnecessary expenditures from the bill to tackle the country's hefty deficit.

“12.67% of the federal budget will be spent in 2021,” but the amount of the budget share has not yet been determined in dinars, Saffar added.

Sherwan Mirza, a member of the Iraqi parliament who sits on the finance committee, confirmed to Rudaw English on Saturday that they had reduced total expenditures from 164 trillion dinars to less than 130 trillion in the bill. The parliament’s amendments to the budget have more than halved the projected deficit, he added.

The budget bill submitted by the cabinet to parliament included a 71 trillion dinar deficit, which Saffar said was reduced to 29 trillion dinars after the general cuts to the bill. 

The KRG’s share of the draft budget is the same as it was the previous year. In the 2019 budget law, the Kurdistan Region’s share was 12.67 percent. Baghdad applied the same law for 2020, after a failure by Iraqi political parties to agree on a new budget bill. 

Kurdish members of Iraq’s parliament have suggested they would attempt to amend the draft 2021 federal budget to secure 14% for the Kurdistan Region, claiming that the full size of its population is not reflected in the 12.67% currently assigned to it. 

The Kurdistan Region delegation led by Qubad Talabani, the Deputy Prime Minister of the Kurdistan Region will go back to Baghdad on Sunday for further negotiations with the Iraqi government.

The 2021 Iraqi budget bill was approved by Iraq’s Council of Ministers on December 21.  Iraqi parliament has held two readings of the bill, and is expected to be submitted to parliament to vote within eight days, Saffar told state media outlet Iraqi News Agency (INA). 

The budget has been a point of contention between Erbil and Baghdad for several years, especially after the Kurdistan Region's decision to sell its oil through Turkey, and the Islamic State (ISIS) attack on Iraq in 2014.

Both governments are struggling financially. The KRG has been failing to pay its civil servants on time and in full, while the Iraqi government had to take out loans from its central bank to pay the salaries of its civil servants for the last three months of 2020.

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

 

money and business Economy News _ Baghdad 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.

Number of observations 428   Date of addendum 01/31/2021

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Deputy: the governor of the central bank outside the questioning and the budget within the bargaining

15:38 - 01/31/2021

 

  

Information / Special ...

The coalition of Iraqis confirmed, on Sunday, that the coming sessions will not witness the questioning of the Governor of the Central Bank of Iraq, attributing the matter to Parliament's preoccupation with the budget and through it to enter the line of negotiations and bargaining between the blocs.

"The quorum was broken and the meeting was postponed during the interrogation of the central bank governor, it was not a coincidence, and here there is coldness in dealing with the interrogation by the Presidency," Coalition MP Jassim Mohan said to "the information".

He added that "the coming sessions will not witness the questioning of the governor," noting that "the budget will enter the line and the parliament will be busy with it and its long struggles."

Mohan said, "Through the differences on the points of balance between the blocs, the subject of the governor will enter and the agreements and deals on them will begin with a file in exchange for a file."

[yota691]

Source: The Governor of the Central Bank and the Chairman of the Communications Commission were questioned in one session this week

•  Time: 01/31/2021 20:59:26
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•  Read: 3,978 times

  

{Baghdad: Al Furat News} A representative source revealed that it is more likely that one interrogation session will be held in the House of Representatives this week for the Governor of the Central Bank of Iraq {Mustafa Ghaleb is terrifying} and the head of the executive body of the Media and Communications Authority, Ali Nasser Al-Khuwailidi.

The source told {Al-Furat News} that "it is likely that the governor of the Central Bank and (Al-Khoweildy) will be questioned in one session this week."
He added, "Next Tuesday's session may witness two interrogations of the bank governor and the communications official."
The House of Representatives was scheduled to question the Governor of the Central Bank of Iraq last Wednesday by the head of the Parliamentary Wisdom Bloc, Faleh Al-Sari, after parliament was not convinced of the first’s answers during its hosting of one of the parliamentary sessions last November, but he announced that the interrogation session would be lifted for further notice.
The representative of the Nasr Bloc, Hoda Sajjad, said to the Euphrates that a parliamentary bloc came to question the head of the Media and Communications Authority in absentia and evaded the presence of the questioning session of the bank governor.
While the representative of the Al-Fateh bloc, Sanaa Al-Mousawi, said that "political agreements are behind the postponement of the questioning of the bank governor," noting that "the failure of many MPs to attend the interrogation session is a disappointment in the stifling economic conditions in Iraq."
It is noteworthy that the representative of the Sawirun bloc, Alaa al-Rubaie, intends to question the head of the executive body of the Media and Communications Commission, Ali al-Khuwailidi, but the latter’s allegations of being infected with the Corona virus, media confusion about his escape outside Iraq has postponed his questioning until Parliament verifies his health status.

Ammar Al-Masoudi

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Parliamentary Finance holds its 36th meeting, and the region’s share has not been decided

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1/31/2021 16:54:00

 

       

Parliamentary Finance holds its 36th meeting, and the region’s share has not been decided

 

On Sunday, the Parliamentary Finance Committee announced that it would hold its 36th meeting to discuss the paragraphs and items of the federal budget for 2021, noting that the Kurdistan Region’s share in the draft law has not yet been decided.

Representative Jamal Cougar, a member of the Parliamentary Finance Committee, said during a special statement to PUkmedia , that the committee held its 36th meeting to discuss the provisions and paragraphs of the draft federal budget law for 2021, pointing out that the committee ended discussing all the paragraphs and articles, except for deducting the Kurdistan region’s share from the draft budget law.

Cougar added, that the committee will continue to hold its meetings to discuss the new paragraphs and texts added to the draft law, noting that the Sunni blocs in the House of Representatives have no objection to what was stated in the draft budget bill on the Kurdistan Region’s share and the issue of oil revenues for the region.

He stressed that the Shiite blocs have objections to what was stated in the draft budget law about the share of the Kurdistan Region, explaining that the Shiite blocs will hold a meeting among themselves during the coming days to discuss this point.

Representative Shirwan Mirza, a member of the Parliamentary Finance Committee, had explained in a previous statement to PUKmedia : The Finance Committee will meet before noon today, Sunday, to continue discussing the draft federal budget law for 2021.

He added: The Finance Committee will discuss during today's meeting, amending the articles and paragraphs of the draft budget law 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 explained: I think that the budget bill will be ready for a vote in Parliament this week.

[yota691]

The budget in front of the House of Representatives this week

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1/31/2021 10:28:00

 

       

The budget in front of the House of Representatives this week

 

Today, Sunday, the Parliamentary Finance Committee continues to discuss the draft federal budget law for 2021 after completing a large number of articles contained in the draft law.

Representative Shirwan Mirza, a member of the Parliamentary Finance Committee, said during a special statement to PUKmedia : The Finance Committee will meet before noon today, Sunday, to continue discussing the draft federal budget law for 2021.

He added: The Finance Committee will discuss during today's meeting, amending the articles and paragraphs of the draft budget law 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 explained: I think that the budget bill will be ready for a vote in Parliament this week.

[yota691]

New developments in the 2021 budget discussions file in the Finance Committee

2021-02-01

Yes Iraq: Baghdad

 

The Parliamentary Finance Committee held its thirty-seventh meeting, in which it resumed its discussions on the draft federal budget bill for 2021.

 

A statement by the House of Representatives stated: “The sub-committees of the Finance Committee hosted today representatives from each of the Integrity Commission, the Ministry of Transport and the Roads and Bridges Department, to discuss the financial allocations for these institutions within the 2021 budget.”

 

He added, "The Deputy Chairman of the Finance Committee, Muthanna Al-Samarrai, met with the head of the economic department at the French embassy, Abdel-Nour Brahimi, to discuss the French loan allocated for the construction of Mosul airport."

[yota691]

 

A deputy is likely to hold a session Tuesday evening to vote on the budget

 

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 2021-02-01 05:19

 

Shafaq News / A deputy from the Parliamentary Wisdom bloc suggested, on Monday, that the parliament would hold a session tomorrow evening, Tuesday, to vote on the general budget law, while he confirmed the presence of parliament members in Baghdad.

Al-Hikma MP Ali Al-Badiri told Shafaq News Agency, "Most of the parliament members from various political blocs are currently in the capital, Baghdad, awaiting a signal from the Parliament Presidency to hold the voting session on the General Budget Law for 2021."

Al-Badiri added, "It is expected that the Presidency of Parliament will set tomorrow evening, Tuesday, a date for the voting session on the General Budget Law," noting that "the end of the first legislative term for Parliament will be on Wednesday evening."

Al-Badiri pointed out, "The absence of any political agreement is among the last to vote on the budget law," indicating that "the law will witness voting in tomorrow's session, Tuesday, according to a political agreement and a clear vision of the members of Parliament."

[yota691]

Deputy: The rise in the dollar’s exchange rate weakened the citizen’s purchasing power

Economie

2021-02-01 | 04:17

 

 

1,784 Views

Alsumaria News / Baghdad The

head of the Rafidain parliamentary bloc, Yonadam Kanna, confirmed that the economic development in the budget has been rested on the shelf, while noting that raising the dollar exchange rate weakened the citizen's purchasing power by 23%.

And he said We were In an interview with Alsumaria News, "Efforts are continuing in order to settle the budget during the next few days in order to vote on it, after completing most of the points in it," indicating that "what is related to the price of the dinar against the dollar in the budget is unlikely to be reduced within the budget despite the presence of proposals put forward here and there despite the difficulty Adopting it at this time to reduce the exchange rate to 1300 dinars per dollar, given that what happened was a big mistake in that jump and the citizen paid for it, and the decision remains for money and cash experts.

 

He added We were, "The jump that took place in the price of the dollar in its early days greatly benefited some of the banks affiliated with the parties, but at the same time, the citizen was greatly affected, as the citizen's purchasing power decreased by 23%, contrary to what the government said about not harming the citizen's income," pointing to "The exchange rate is a fiscal policy, not monetary, and it was assumed that the government would not interfere."Ministry of Finance In this matter and the decision is entrusted to the critical experts in Iraq Not as it happened. "

He pointed out that "there are three important development policies, namely the financial, monetary and economic policy. We believe that the economy is on the shelf and there are eight important sectors for development that are left and neglected in the budget, which are agriculture, industry, health, water resources, education, transportation and housing, which represent 16% of the budget, in contrast to the oil sector." Electricity was given 20%, and the security and defense sector was 1% more than the eight developmental sectors, with the addition of culture, which is a fatal mistake and lack of economic vision that greatly damaged the economy and the Iraqi citizen.

[yota691]

A parliamentarian calls for 9 amendments to the budget bill before voting on it

 

 

242 Policy 02/01/2021 13:51 amm Baghdad Today -

Baghdad, the representative of the National Approach bloc, Jamal Al-Muhammadawi, demanded today, Monday (February 1, 2021), that 9 amendments be made to the draft budget law before voting on it.

Al-Muhammadawi said, in a statement received (Baghdad Today), that “the most important amendments required to the 2021 budget are:

 

1. Abolishing the first paragraph of Article (11) that calculates the Kurdistan region’s dues for the previous years from 2014 to 2019 despite not handing over oil revenues and other things. oil.

 

2. amend paragraph II - ( a ) of Article (11) to be ( the province is committed to deliver 460 thousand barrels per day to SOMO and in the case of increasing the production of this amount is also committed to extradite him to the Iraqi oil Marketing company (SOMO).

 

3. Adding Article Seven of the Current Deficit Financing Law (determines the Kurdistan region’s share of the total actual spending (current expenditures and investment project expenditures) after excluding the sovereign expenditures specified in the Federal Budget Law of the Republic of Iraq for the fiscal year 2021) and adding the expenditures of the Ministry of Oil, the Ministry of Transport and the Ministry of Resources Water and the inclusion of the security and defense sector in all its ministries and institutions to be included in the sovereign expenditures as well as the emergency reserve) on the condition that the Kurdistan region commit to handing over (460) thousand barrels per day to the Iraqi Oil Marketing Company (SOMO) exclusively, as well as deliver Mazad on those quantities and all non-oil revenues of the federal and in case Failure to comply with the region, expenses may not be paid to the region, and the violator of this provision bears legal responsibility). 

 

4. Paragraph III (a, b, and c) that obliges the federal authorities to pay the region’s loans and financial obligations that it entered into in the years (2014 to 2019) shall be canceled.

 

5. Abolish Article (47) which permits the sale of financial assets to state public companies.

 

6. Abolishing Article (38) which permits the privatization of service sectors and oil wealth .

 

7. Canceling Articles (41, 42) that permit the sale of state-owned agricultural lands.

 

8- Reducing total expenditures to (100) trillion.

 

9- Abolishing Article 56 that excludes the deficit planned for the 2021 budget from the percentage stipulated in the Financial Management Law (the deficit in the planning budget may not exceed 3% three percent of GDP. It means that the planned deficit does not exceed (7) A trillion, if we assume that the gross domestic product is close to (220) trillion dinars. "

 

The Parliamentary Finance Committee revealed a government request to increase spending on salaries in the 2021 budget by 10 trillion dinars, while he talked about achieving 3 positives after adjusting the budget, related to the size of the deficit, oil prices, and the reduction of total actual spending.

 

"The government spent 111 trillion dinars on spending in 2019, and in 2020 it spent 72 trillion, while in the 2021 budget it came with a request to spend 164 trillion dinars, and this is a very high number," said the reporter of the Finance Committee - Ahmed Al-Saffar. The budget will be austere due to the financial crisis. "

 

 

He added, "Maximizing revenues tended to raise the exchange rate of the dollar and this harmed the poor classes because it caused inflation in the Iraqi market and also taxes were imposed on salaries in the budget and were supposed to be imposed under the Income Tax Law, not the Budget Law, because this is a legal violation."

 

He pointed out that "the budget underwent an almost total change by the Parliamentary Finance Committee, and a number of spending figures were changed in order to reduce it," noting that "the Finance Committee holds morning and evening meetings and has conducted more than 150 hosting government officials to verify the truth of the allocations."

 

He continued, "The fruit of these meetings was the reduction of total spending in the budget from 164 trillion dinars to 127.5 trillion dinars."

 

He stated that "there have been exaggerations in the current budget related to spending on salaries, as it was estimated at 43 trillion in 2019 and jumped to 53 in the 2021 budget, despite the absence of new job grades, which means that the additional 10 trillion."

 

With regard to the oil file and its revenues in the budget, Al-Saffar said, "The Finance Committee proposed to raise the price of a barrel from 42 to 45 dollars, which would add revenues of 5 trillion dinars."

 

He pointed out that "the continued rise of oil prices will eliminate the financial deficit budgeted for in the budget, which exceeded 30 trillion after the amendments made by the Finance Committee, and was previously estimated at 70 trillion dinars."

 

And he stressed the need to put final accounts in the budget to know the amount of actual spending and the amount of income from additional revenues allocated to bridge the deficit.

 

Earlier, the representative of the Saeron Alliance, Riyadh Al-Masoudi, revealed today, Sunday, the total amount of the 2021 budget bill, after amendments were made to the project by the Iraqi parliament.

 

Al-Masoudi said in an interview with (Baghdad Today), that "planning budget expenditures have been reduced, as they have been reduced by approximately 35 trillion dinars, so the amount of the budget will be 135 trillion dinars instead of 163 trillion dinars, and these reductions are real."

 

And he indicated, "The value of the deficit was 70 trillion dinars, and it has now become, after the reduction and adjustments, approximately 30 to 35 trillion," stressing that "in the event that the current oil price remains, this deficit will be filled by the price difference, especially since the price of oil is calculated at $ 45 and is currently It sells from 53 to 55 dollars, and here the project may be completely free of deficit. "

 

Earlier today, a member of the Parliamentary Finance Committee in the House of Representatives, Jamal Cougar, confirmed that submitting the federal budget for 2021 to the vote depends on the arrival of answers from some institutions to the committee, and the resolution of the issue of agreement between the governments of Baghdad and Erbil, while he talked about two options for deducting salaries employees.

 

 

Cougar said in a press statement followed by (Baghdad Today), that "the amendments made to the draft budget bill by the representative finances have contributed to reducing its total size to between (125) trillion to (127) trillion dinars approximately until this moment." Stressing that "the final number will be clear upon completion of the review of all draft articles."

 

And on reducing the budget deficit to nearly twenty trillion dinars after the stability of oil prices, the MP believes that "this deficit will be reduced and not an actual deficit."

 

Cougar, who heads the Kurdistan Islamic Union bloc, said, "After these amendments, the government will be able to cross this year with the least damages or financial burdens as that which occurred in the year 2020."

 

He pointed out that "the Parliamentary Finance Committee went into for the first time the details of the budgets of many state institutions, and concluded that it is necessary to make amendments to these budgets and delete some of them from the budget law."

 

The deputy continued, saying: "Among the budgets that were deleted from the budget law are those classified under commodity and service sections (for certain ministries, bodies and institutions), as we saw that their presence is unnecessary," noting that "the follow-up of the Finance Committee for the budgets of some ministries and government institutions has not End after ".

 

The Kurdish MP believes that "the process of checking these budgets will continue for the next three days, to ensure the expenses of these institutions before the budget is fully prepared," revealing that his committee "reached in its amendments to Article 37 of the Budget Law."

 

With regard to income taxes, Cougar explained, "There are two options before the Financial Committee to implement income tax. The first is to resort to Law No. (113), and the second option is to apply the tax, but by amending it by applying it to higher salaries."

 

The draft budget law included imposing taxes on the income of employees whose salaries exceed 500 thousand dinars, while the deduction rises to 40% for the salaries of the three presidencies and ministries.

 

And he indicated, "Submitting the general budget law to the vote depends on the arrival of answers from some institutions to the Finance Committee that relate to their budgets, as well as resolving the issue of the federal government and the region, and thus agreeing on these two points, and it will push us to present the budget law at the end of this week to vote."

[yota691]

Parliamentary Finance holds its 37th meeting to discuss the budget

•  Time: 02/01/2021 12:32:06
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•  Read: 2,015 times

  

{Baghdad: Al Furat News} Today, Monday, the Parliamentary Finance Committee held its 37th meeting to resume its discussions on the draft federal budget bill for 2021.

A representative source said in an interview with Al-Furat News Agency that "Deputy Chairman of the Finance Committee Muthanna Al-Samarrai met with the head of the economic department at the French embassy, Abd al-Nur Brahimi, to discuss the French loan allocated for the construction of Mosul airport."

He added that "the subcommittees of the Finance Committee hosted each of the Integrity Commission, the Ministry of Transport, and the Roads and Bridges Department to discuss the financial allocations for these institutions within the 2021 budget."

[yota691]

Head of a parliamentary bloc: The Central Bank deviated from its objectives and caused the deterioration of the Iraqi dinar

17:38 - 01/31/2021

 

  

Information / Special ...

On Sunday, the head of the Irada Hussein Arab bloc criticized the policy of the Central Bank of Iraq, describing it as "floundering."

Arabs said in a statement to / Al-Maalouma / that “the central bank’s policy towards the monetary currency has floundered, causing the deterioration of the Iraqi dinar against the dollar.”

He added that "the Central Bank did not develop the correct solutions to deal with the auction of selling the currency and the dollar exchange rate."

He pointed out that "the floundering policy of the central bank has greatly affected the movement of the difficult and difficult currency wheel and how to invest it in the right way instead of storing it in homes."

He pointed out that "the central bank deviated from its goals in wasting hard currency and how to preserve it, as well as the deterioration of the Iraqi currency against the dollar."

Earlier, the Parliamentary Planning Committee accused Central Bank Governor Mustafa Ghalib of causing negligence and damaging public money. Ended 25 h