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Al-Halbousi: Present the budget to a vote soon, and we are proceeding with the legislation of the oil and gas law


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Budget 2021 .. What is included in the second article voted by Parliament? (document)

Political06:02 - 31/03/2021

 
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BAGHDAD - Mawazine News
Article 2 of the draft federal budget law for the fiscal year 2021, which the House of Representatives voted on, on Wednesday, includes an important paragraph related to the oil-producing provinces.
And the eighth paragraph of Article Two includes the establishment of funds in all governorates producing crude oil, refined oil or gas called (the petrodollar fund) to be managed by the concerned governor to be financed on a monthly basis by increasing the price difference obtained at the prices of selling crude oil over what is established in Article (1 /). First / 5) of this law and it shall be added to the principal amounts confirmed in Article (2 / First / 5) in accordance with the provisions of that same article). Ended 29 / A43

 

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Budget 2021 .. Parliament votes on an article on the exchange rate, the price of a barrel of oil, and the article on the Kurdistan share - urgent

 

 

289 Policy 2021/03/31 18:10 Baghdad Today -

Baghdad At the beginning of its session for this day, the Iraqi parliament voted on the first article, which included in its paragraphs the exchange rate and oil barrel in the 2021 budget, as well as Article 11 regarding the share of the Kurdistan region at a later time. A representative source said to (Baghdad Today) that "the first article that was included in the draft budget bill before the vote was a paragraph stipulating the adoption of an exchange rate of 1450 dinars against the dollar, and the price of a barrel of oil was set at 45 dollars, which was voted on, which means passing these two prices." Meanwhile, the House of Representatives ended voting on the first 11 articles in the federal budget for this year, including the Kurdistan region’s share. And a member of the Finance Committee, Majid Al-Tamimi, announced the vote on two important paragraphs of the 2021 Budget Law, which are currently being voted on in the Council. On her Facebook page, Al-Tamimi said, "The council voted on the 11th paragraph that obliges the Ministry of Finance to provide the necessary financial allocations for the development and reconstruction of Sadr City." She added that the council "also voted on Article (2 / First, Paragraph 😎 concerning the petrodollar fund for the provinces producing crude oil, refined oil or gas." Before that, Member of Parliament, Representative Hassan Khatti, said today, Wednesday, that there is a general agreement between the blocs to pass the budget at today's meeting. "There is a general agreement to pass the budget and to transfer the controversial materials or to keep them without a vote," Khalati said in a televised interview that I followed (Baghdad Today), indicating that "the currently disputed articles are represented by the share of Kurdistan, foreign loans and the exchange rate, and the last has not yet been resolved and the voting paragraph on the exchange rate." Current postponed. " He added that "the disputed points will be reviewed during the session and may be modified and included in the vote, and there are two tracks in the House of Representatives regarding the exchange rate. The first puts the matter in the hands of the government and the second says that Parliament is able to amend and we hope to reach an average exchange rate, and the file will be the subject of discussion in the session." The House of Representatives began a short while ago to vote on the draft general budget bill for 2021, The Media Department of the House of Representatives stated that the parliament held a session to vote on the budget in the presence of 215. Before that, the representative of the Saeron Alliance, Ghayeb Al-Amiri, confirmed that the country's general budget law has completely recovered and will be voted on during today's session or tomorrow, Thursday. Al-Amiri said in a televised statement that (Baghdad Today), that "the draft budget that reached Parliament was distorted and does not represent the aspirations of the Iraqi people, but the Finance Committee in the House of Representatives made amendments to it until it reached the stage of complete recovery, and it will be voted on during the parliament session for this day. Or tomorrow, Thursday. " He added, "The differences over the budget were related to the region’s share, and when it was resolved, political disagreements appeared between the Shiite and Sunni parties. They were also resolved so that another problem appeared, which were differences between the Shiite-Shiite blocs, but all these differences reached a final agreement on it."

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 2021-03-31 11:06
 

Shafaq News / The Iraqi parliament voted, on Wednesday, on Article 11 of the General Budget Law for the Kurdistan Region’s share, after a tug of war that lasted for months.

Article 11 states:

First: Dues are settled between the federal government and the Kurdistan Region for the years from 2004 to 2020 after the Federal Office of Financial Supervision, in coordination with the Regional Office of Financial Supervision, audited them to show the final accounts approved by the Federal Office of Financial Supervision from the financial revenues and expenditures achieved after excluding the sovereign expenditures and what happened His spending for the region is among the ruling expenditures.

Secondly:

A- The Kurdistan Regional Government is committed to producing crude oil from its fields and at a rate of quantities not less than 460 thousand barrels per day, and the quantities necessary to cover production, transportation and operating expenses are excluded according to the data provided and the quantities consumed locally in the region and the quantities that cover the allocations of the region’s share of petrodollars, provided that they are not less The quantities delivered are based on the amounts realized from the sale of 250 thousand barrels of crude oil per day at the price of SOMO.

Paragraph (a) above shall be implemented in coordination between the Federal Ministry of Oil and the Ministry of Natural Resources in the Kurdistan Regional Government.

A The Kurdistan Regional Government is obligated to deliver non-oil revenues to the state treasury and according to the Federal Financial Administration Law, provided that the Federal Office of Financial Supervision in coordination with the Office of Financial Supervision in the region audits the data related to those revenues.

D- The balances of the Iraqi Trade Bank owed by the Kurdistan Regional Government are settled with government and private banks, and the Ministry of Finance schedules monthly installments to be deducted from the region’s share, starting from the money year 2021 for a period of 7 years.

E - The federal government shall pay the Kurdistan Region's dues mentioned in this law and the tables attached to it after the region has implemented paragraphs (a, b, c, d) of this article.

Third - oblige the Kurdistan Region to provide the Federal Ministry of Finance, after auditing the Federal Office of Financial Supervision, in coordination with the Office of Financial Supervision in the region, with the functional staffing of the formations affiliated to it (civil - military) distributed by degree, vacant and occupied job title, and gender according to the numbers specified for it according to a schedule

Manpower (C) attached to this law no later than 6/30/2021.

 

Fourthly

The Kurdistan Regional Government is committed to disbursing the region’s employees ’salaries dues from the allocations determined within the region’s budget appropriations (employee compensation) and before any order to disburse any other expense from its current budget.

Article 12 - First - Federal ministries and entities not associated with a ministry are bound by Table A) containing the number of ministries and departments funded centrally for the year / 2021 attached to this law.

 

Second - Federal ministries must stop appointments within their affiliated formations from public companies, bodies and self-financed directorates that receive a grant from the state’s federal public treasury or receive loans.

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  •  Time: 03/31/2021 18:21:42
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  • Parliament votes on Article 15 of the budget law on the revenues of the Media and Communications Authority
      
    {Baghdad: Al Furat News} The House of Representatives voted on Article 15 of the budget law for the revenues of the Media and Communications Commission
     
     
     
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/ Mawazine News / publishes the text of Article 11 of Kurdistan

Political06:20 - 31/03/2021

 
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Baghdad Mawazine News
publishes / Mawazine News /, on Wednesday, Article 11 of the General Budget Law for the Kurdistan Region’s share, which Parliament voted on in its session for today.
Article 11 stipulates:
First: The dues shall be settled between the federal government and the Kurdistan region for the years from 2004 to 2020 after the Federal Office of Financial Supervision in coordination with the Office of Financial Supervision of the region audited them to show the final accounts approved by the Federal Office of Financial Supervision from the financial revenues and expenditures achieved after Exclusion of sovereign expenditures and what was spent for the region within the ruling expenditures.
Secondly:
A- The Kurdistan Regional Government is committed to producing crude oil from its fields and at a rate of quantities not less than 460 thousand barrels per day, and the quantities necessary to cover production, transportation and operating expenses are excluded according to the data provided and the quantities consumed locally in the region and the quantities that cover the allocations of the region’s share of petrodollars, provided that they are not less The quantities delivered are based on the amounts realized from the sale of 250 thousand barrels of crude oil per day at the price of SOMO.
Paragraph (a) above shall be implemented in coordination between the Federal Ministry of Oil and the Ministry of Natural Resources in the Kurdistan Regional Government.
A The Kurdistan Regional Government is obligated to deliver non-oil revenues to the state treasury and according to the Federal Financial Administration Law, provided that the Federal Office of Financial Supervision in coordination with the Office of Financial Supervision in the region audits the data related to those revenues.
D- The balances of the Iraqi Trade Bank owed by the Kurdistan Regional Government are settled with government and private banks, and the Ministry of Finance schedules monthly installments to be deducted from the region’s share, starting from the money year 2021 for a period of 7 years.
E - The federal government shall pay the Kurdistan Region's dues contained in this law and the tables attached to it after the region has implemented paragraphs (a, b, c, d) of this article.
Third - obligating the Kurdistan region to provide the Federal Ministry of Finance, after auditing the Federal Office of Financial Supervision, in coordination with the Office of Financial Supervision in the region, with the functional staffing of the formations affiliated to it (civil - military) distributed according to class, vacant and occupied job title, and gender according to the numbers specified for it according to the workforce schedule (C Attached to this law, no later than 30/6/2021.
Fourthly:
The Kurdistan Regional Government is committed to disbursing the region’s employees ’salaries dues from the allocations determined within the region’s budget appropriations (employee compensation) and before any order to disbursement for any other expense from its current budget.
Article 12 - First - Federal ministries and entities not associated with a ministry are bound by Table A) containing the number of ministries and departments funded centrally for the year / 2021 attached to this law.
Second - Federal ministries must stop appointments within their affiliated formations from public companies, bodies and self-financed directorates that receive a grant from the state’s federal public treasury or receive loans. Ended 29 / A 43

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  These are all pipe dreams if Iraq continues to use monopoly money . They have announced that  the new budget will use dinar rather than USD . This makes me think that the new rate is in the budget.

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