Mr. Sadr tweets on the budget and warns

[DinarThug]

3 hours ago, horsesoldier said:

I think you all should take a moment out to fully appreciate just how many painful sittings Davis had to go through to accomplish this amazing tattoo.  

‘HEMIS-FEAR’ THE THONG !  

 

 

     

[DinarThug]

Iraq and the internal and external debt crisis

 

Sunday 25 April 2021 06:44

 

Asaad Abdullah Abd Ali

 

The external debt of Iraq continues to rise annually and in a frightening manner, which is a very dangerous indicator for the future of Iraq.

The collapse of oil prices, and the cost of the war that Iraq is waging against ISIS, in addition to its debts inherited from the era of the Saddam regime.

In this article, we will try to clarify what the sovereign debt is, what is happening in Iraq, and what is the future of our country if it continues with this approach?

 

•Question: What is sovereign debt or public debt?

 

It is the money that the government borrows from individuals and institutions in order to face emergency situations, and to achieve various goals, when public revenues are not sufficient to cover the public expenditures required by these emergency situations, such as war and hyperinflation, and to finance development projects, and to face normal current expenses, until taxes are collected , As the collection dates may not completely coincide with the dates of current expenditures. 

Also, they are debts owed by sovereign governments, and most of these debts take the form of non-negotiable bonds, treasury bills for about three months, or negotiable bonds. 

The size of the state's public debt is determined by calculating the ratio of public debt as a percentage of the country's GDP.

 

•Sovereign debt crisis

 

When we ask about the sovereign debt crisis, it can be said: It is the government's failure to service its debts denominated in foreign currencies, due to its inability to procure the necessary currencies to pay its obligations under the sovereign debt, and most of the world's governments are keen not to fail to pay their obligations towards their sovereign debts, and that Keen to preserve its credit rating in the borrowing market from deteriorating, because the government stops paying, investors in international markets lose confidence in the government of this country, and they avoid participating in any tenders to buy its bonds in the future, more than that, the reaction of investors Not limited to those who hold state bonds, but also financial panic extends to the rest of foreign investors in this country who do not hold these bonds. 

 

A kind of economic blockade takes place by major international companies and major investors, with the withdrawal of those present inside the country, which means a large case of foreign currency leakage outside the country, which means the collapse of the local currency, as everyone refrains from working in such an unreliable country.

 

•Iraq's debts to 2048

 

Member of the government program follow-up committee, Hazem Al-Khalidi, said in a press statement: "The draft budget in which the House of Representatives voted on a number of its paragraphs in which many foreign loans have been proven, which burden Iraq and rob the rights of future generations." Loans We will pay Iraq to pay off debts until 2048, the last payment if other loans are added. 

"It is clear that the future of Iraq is in great danger due to the failed administration of the country by the alliance of parties.

This means mortgaging the future of previous generations due to the recklessness and corruption of the political class, as its own interests precede the interests of the country, and this is the misfortune of Iraq since a class of thieves and corrupt people took control of the government.

 

•Domestic debt swelled after 2014

 

In a seminar in 2017 held by the Progress Institute for Development Policy, which was supervised by MP and former Minister of Planning Mahdi Al-Hafez, and it was attended by experts and specialists in financial and economic affairs, the financial advisor to the former Prime Minister, Dr. Mazhar Muhammad Salih, spoke about important details related to the Iraqi debt file, as he revealed Noting that Iraq "succeeded in 2004 in writing off about 100 billion dollars from its debts due to the signing of the Paris Club agreement." And Saleh indicated that the Paris Club agreement is "a standard agreement to resolve the sovereign debts owed by Iraq to 65 countries, including 19 countries within the Paris Club and 46 countries outside it." 

 

But he says: "The internal debt after 2014 increased from 10 billion to 46 billion dollars, thus bringing the total debt, both internal and external, to about $ 110 billion, including the outstanding Gulf debt until the end of 2016.

 

Most of today's debts are the result of political action after 2004, and this indicates the successive failure of governments to manage the state.

 

The most important question: Who benefits from the internal debt? The answer: They are the same parties that plundered the treasury and caused an increase in the external debt. They are the ones who lend the government with great interest, as they eat from both sides, dispel the external debt and lend the government the internal debt!

 

Who pays the debts of the Kurdistan region?

 

We can ask about the loans of the Kurdistan region, and whether they will be included in the public debt of Iraq? 

The President of the Kurdistan Regional Government in northern Iraq, Masrour Barzani, announced at the end of 2020: "The region's debts amounted to 27 billion dollars." The negative effects of the outbreak of the Corona virus and the decline in oil prices globally. "

The relations between Baghdad and Erbil witness multiple political, security and economic disagreements, among them is how to manage the oil wealth, as the region exports oil separately, intersecting with its agreements with the Iraqi government.

The question here is who bears the region’s debts? Is it in the neck of the region, as for the Iraqi government?

 

•Bankruptcy of states

 

There are no specific regulations governing the state’s bankruptcy process, as is the case for companies, which are often forced to fill out a bankruptcy form, in order to then take the necessary legal measures to liquidate the company.

As for countries that fall into a sovereign debt crisis, they often resort to trying to manage Foreign exchange through its own methods first, and if it fails, it will either resort to informal institutions such as the Paris Club, which is an informal institution representing a gathering of creditors from the rich countries of the world, which was established in 1956 as a result of the talks that took place in Paris between the Argentine government and its creditors.

The club has the task of restructuring the sovereign debts of countries, easing the burden of some debts, or even canceling some of these sovereign debts, as happened when the club canceled all of Iraq’s debts in 2004. 

Often the club’s decisions are based on a recommendation from the International Monetary Fund, but the country's political decision becomes dependent on the IMF.

 

•Asylum for the International Monetary Fund

 

The state turns to international official institutions such as the International Monetary Fund, requesting assistance in paying its debts, so the Fund evaluates the state’s conditions, and if the stoppage of payment is due to emergency circumstances, for example the decrease in the prices of this country's exports, then it concludes with it a so-called Standby Agreement, according to which The state shall grant cash facilities in foreign currencies in the form of a specified percentage of its quota with the fund, without imposing measures on the state to correct its economic and financial structure. 

 

But if the stoppage of payment is due to a structural problem related to the weakness of the state's revenue structure, poor pricing of public goods and services, or the inadequacy of the process of evaluating the exchange rate of its local currency ... etc. 

 

The fund, in this case, stipulates that the process of providing assistance to the state (including that which will be provided by the Paris Club of course) is linked to the need for the state to follow a structural reform program that includes a set of proposed measures that the state should follow, so that it can reform its general budget structure, reduce the deficit in its balance of payments, and improve Its ability to borrow and repay in the future.

 

That is, the country falls into the captivity of the International Monetary Fund, which imposes its will on governments, and its intervention becomes widespread.
LINK

[screwball]

2 hours ago, DinarThug said:

Most of today's debts are the result of political action after 2004, and this indicates the successive failure of governments to manage the state.

Failure lol 😂 more like theft! 

[horsesoldier]

5 hours ago, screwball said:

Failure lol 😂 more like theft! 

 

The Iraq Spin Doctors learned well from our Spin Doctors, didn't they

[DinarThug]

On 4/25/2021 at 9:31 AM, DinarThug said:

Finance calls on spending units of all ministries to review them to receive instructions for implementing the budget

25th April, 2021

Today, Sunday, the Ministry of Finance announced the completion of the instructions for implementing the 2021 Federal Budget Law, approved by the Presidency of the Republic.

In a statement received by Shafaq News Agency, the ministry said that due to the legislation and the publication of Law No. 23 of 2021, the federal state budget of the Republic of Iraq for the fiscal year 2021 in the official Iraqi newspaper Al-Waqi’a issue No. 4625 on April 12, 2021 

The statement called on spending units of ministries, governorates, bodies and bodies not associated with all the ministry to come to the Ministry of Finance / Budget Department on Monday, 4/26/2021, for the purpose of receiving instructions for implementing the general budget for the fiscal year 2021 and instructions for implementing the planning budget for the public sector and self-financed bodies and companies. 

The statement continued that the instructions for the federal budget for 2021 were completed after a final audit was conducted by the Ministries of Finance and Planning, stressing that appeals to the budget will not delay their implementation.

###########

The Ministry of Finance calls on all ministries' spending units to receive instructions for implementing the 2021 budget    LINK

 

LINK

The Finance Committee issues a statement on the implementation of the 2021 budget

 

26th April, 2021

 

The Finance Committee hosted the governors to discuss the implementation of the budget law for 2021 within the allocations allocated to each governorate

The Finance Committee confirmed, Monday (April 26, 2021), in a meeting held at its headquarters, chaired by MP Haitham al-Jubouri and in the presence of its members, “It was keen on doubling the financial allocations to the governorates, taking into account population ratios and the degree of deprivation, in order to advance the service reality and complete the stalled and stalled projects. As well as granting many powers to the governors

For their part, the governors reviewed "the most prominent problems and obstacles facing them, as well as discussing the financial allocations for each governorate in the budget and its suitability to its reality and needs

The Finance Committee stressed that it "is supportive of all measures that will advance the reality of the provinces, and will also ensure that the budget law is properly implemented

[DinarThug]

LINK

Washington is ready to support the financial policy of Iraq

 

26th April, 2021

Today, Monday, the US ambassador to Iraq expressed his country's readiness to provide support and assistance to the central bank and the banking sector in Iraq.

The media office said a statement of the Central Bank of Iraq received by Alsumaria News, “The governor of the bank, Mustafa Ghaleb, terrifying, received the US ambassador to Iraq, Matthew Toller.

The statement added that the meeting dealt with ways of joint cooperation between Baghdad and Washington in the monetary and economic fields, including the emphasis on the importance of technical support and joint cooperation to advance the reality of the Iraqi banking sector.

In turn, the American ambassador praised the reform plan adopted by the administration of the Central Bank of Iraq towards the banking sector, expressing his country's readiness to provide various types of support and assistance to the central bank and the banking sector in Iraq.

 

###########

Washington is ready to support the Central Bank and the Iraqi banking sector  LINK

[DinarThug]

LINK

Antoine : Iraq will be fine if the politicians remove their hands from the economic file

 

26th April, 2021

The economist, Bassem Antoine, counted today, Monday, that "whenever politicians lift their hands from the economic file, Iraq will be fine," stressing the need to invest the qualified Iraqi youth energies in managing this file, relying on existing expertise.

Antoine told "Degla", "There is a weakness in the economic management in the country, due to the dominance of quotas over managing the economic files, in addition to the fact that the competencies cannot exercise their role in choosing the right ways to create good production and thus improve the total output of the country."

He added, "Iraq is a country of children and has competencies and capabilities and it is rich.
There are other wealth such as minerals other than oil wealth, as well as its possession of young energies that can rise in the country if it is invested, but on the condition that the politicians raise their hands from the economic file."

[DinarThug]

LINK

Iraqi planning: high monthly and annual inflation index for the month of March

 

26th April, 2021

Today, Monday, the Ministry of Planning announced an increase in the inflation index for the month of March by 0.7%, and the annual rate by 4.0%.

Ministry spokesman Abdul Zahra Al-Hindawi said in an interview with Shafaq News: 

"The monthly inflation index for last March rose by 0.7% compared to the previous month," indicating that "the annual inflation index also rose by 4.3% compared to the same month in 2020."

He added that "the increase in the dollar exchange rate since mid-December of 2020 has caused a devaluation of the local currency and an increase in the prices of goods and services, as most of these local goods are imported."

He pointed out that "the rate of inflation has increased by about 5.6% since November 2020 until March 2021."

The Central Bureau of Statistics announced earlier last month that the monthly inflation rate for February increased by 0.7% and the annual rate increased by 4%.

############

Iraqi planning: high monthly and annual inflation index for the month of March  LINK

[6ly410]

 

 

2021/04/26 14:42

• The number of readings 204
• Section : Iraq

 

http://almasalah.com/ar/news/208538/واشنطن-تبدي-رغبتها-بدعم-سياسة-العراق-المالية

Washington expresses its desire to support the financial policy of Iraq

Baghdad / Obelisk: The US ambassador to Iraq, Matthew Toller, on Monday April 26, 2021, expressed his country's readiness to provide support and assistance to the Central Bank and the banking sector in Iraq.

The Central Bank's media office said in a statement received by Al-Masala: The Governor of the Central Bank of Iraq, Mustafa Ghaleb, terrifying, received the American ambassador to Iraq, Matthew Toller, indicating that ways of joint cooperation between the two countries in the monetary and economic fields were discussed, including confirming the importance of technical support and cooperation. Joint advancement of the Iraqi banking sector.

For his part, the American ambassador praised the reform plan adopted by the administration of the Central Bank of Iraq towards the banking sector, expressing his country's readiness to provide various types of support and assistance to the central bank and the banking sector in Iraq.

The Central Bank announced the launch of an initiative to mitigate the damage of the Ibn Al-Khatib Hospital fire accident, indicating that the initiative includes three things:

1- Allocating a grant for the families of the martyrs of the accident.

2- Allocating a grant for each of those injured in the accident.

3- Supporting the government's efforts to rehabilitate the hospital, according to what is being coordinated with the Prime Minister

[DinarThug]

LINK

Sumaisem : Increasing oil prices would eliminate the fiscal deficit

25th April, 2021

The economic expert, Salam Sumaisem, said today, Sunday, that the increase in oil prices could eliminate the financial deficit in the budget, noting that the strict financial policy is paid by the simple citizen.

Sumaisem told "Tigris", "It is possible that the increase in oil prices will eliminate the financial deficit, by investing the increases in bridging the economic gap that exists inside Iraq."

However, Sumaisem said, "There is no sign or glimmer of hope for the improvement of the economic situation in Iraq.
Rather, the government has given the impression to everyone that it is on the way to austerity and following the strict traditional measures pursued by the financial policy, which the middle class pays for."

[horsesoldier]

From 2 " enlightened economists " today I've read that the Iraqi people are " children " and " simple citizens " .

 I submit the government and other " enlightened " are the REAL children and simple (minded) citizens as evidenced by the last 18 years of nonstop shenanigans & 

[DinarThug]

LINK

Deputy: Finance circumvents the poor and the exchange rate is a tax in itself

 

13:07 - 04/25/2021

 

 

On Sunday, the deputy for the Al-Fateh Alliance, Wafa Al-Shammari, accused the Ministry of Finance of committing fraud against the poor citizen, noting that the dollar’s exchange rate is still a tax in itself.

Al-Shammari said in a statement to / the information /, that "the Ministry of Finance caused conspiracy against citizens through the high exchange rate of the dollar," indicating that "the Ministry of Finance ignored the reduction of the dollar exchange rate for continuing to circumvent it to obtain more funds under the pretext of reducing the deficit in the 2021 budget."

She added, "The Minister of Finance did not attempt to correct the economic situation," warning that "the Iraqi street can no longer bear the Ministry of Finance's continuing blunders."

Deputy Bassem Khazal had confirmed in a previous statement to "the information", that the government was unable to find a solution to the economic crisis, and went towards starving the citizen by raising the dollar exchange rate and approving it in the budget.

 

Edited April 27, 2021 by DinarThug

[DinarThug]

Al-Kazemi's financial advisor: Iraq's foreign debts payable are $ 25 billion

994 Economie 2021/04/26 23:06 mum

Baghdad Today- Follow-up 

 

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed, today, Monday, the total foreign debts payable in Iraq, ranging between 23-25 billion dollars. 

Saleh said in a press statement that  "Iraq's debts payable are those that were reduced by the Paris Club agreement and are called pre-1999 debts, and debts achieved during the financial crisis and the war on ISIS terrorist gangs, including remnants of Kuwait's compensation, all ranging between 23-25 billion dollars." 

He added, "The remnants of Iraq's compensation to Kuwait did not exceed two billion dollars," noting that "the number related to the so-called allocations for debt services, ie the annual interest and installments payable, was estimated in the federal budget for the year 2021 at about 9 trillion dinars, which represents 7% of the total." Total spending in the aforementioned general budget. 

Saleh said, "This percentage is not allocated to foreign debts only, but most of it is allocated to internal debts, which amount to about 70 trillion dinars," noting that "these debts represent the debt of the government banking system to the Ministry of Finance."

He pointed out, "These quotas allocated to public debt are taken over by internal debts at a rate of more than 60% of the total allocations for public or government debt service in the 2021 general budget, and that they are payments from the government to the government."

LINK

[screwball]

There is no sign or glimmer of hope for the improvement of the economic situation in Iraq.
Rather, the government has given the impression to everyone that it is on the way to austerity 

 

A rate change and removal of zeros in its way 

[DinarThug]

2 hours ago, screwball said:

A rate change and removal of zeros (on) its way 

Let’s Bro !  

 

 

     

[DinarThug]

LINK

Iraq’s 2021 Budget Law Goes into Effect

 

25th April, 2021

 

Iraq’s federal Budget Law for the fiscal year 2021 will go into effect on Monday, April 26, according to an official document.

The country’s Ministry of Finance and Economy directed an official letter to its administrative units to visit the ministry on Monday and receive regulations based on the new law.

It said appealing the articles of the 2021 Budget Law will not delay its implementation.

After weeks of negotiations and parliamentary debates, the budget law was approved at the legislature late in March.

The share of the Kurdistan Region has also been settled in the law after Erbil and Baghdad governments made an agreement on oil exports and non-oil revenues.

Kurdish officials, on different occasions, have reaffirmed the commitment to the budget law, saying that they expect the Iraqi Federal Government to also fulfill its obligations under the new law.

###############

LINK

Instructions for implementing the federal budget for 2021

26th April, 2021

 

The instructions for the federal budget bill for 2021, after its publication in the official Al-Waqi’a newspaper

To read the instructions, click here

[DinarThug]

LINK

The director of the "CIA" visits Baghdad "secretly" and is considered an Iraqi minister to the post of president of the republic

 

 

09:11 - 27/04/2021

 

A report by the American website (1945) revealed, on Tuesday, that the Director of the Central Intelligence Agency, William Burns, had secretly visited the capital, Baghdad, during the past few days, according to various Iraqi sources there, without being announced.

"Burns did not hold any talks at the US embassy in Baghdad or in any Iraqi government building, but in a special place, which is the house of Iraqi Foreign Minister Fuad Hussein," the report, translated by the agency, stated.

He added, “Although Baghdad is considered a logical location for such alleged negotiations, it is fair for Congress to ask who Burns met, his goal, and what Biden or Sullivan authorized to provide, and it is also important to consider the price of such a meeting for the Iraqi official.“ 

And he continued, "Fuad Hussein had lost the presidency of Iraq to the current Iraqi president, Barham Salih, despite the attempt by Trump's special envoy to the Middle East, Brett McGurk, to hand over the position to Fouad Hussein."

And he continued, “By helping to play the mediating role in the alleged secret talks between the United States and Iran, Fuad Hussein may expect a reward that includes renewing American support for his presidency of Iraq again, and this will be a heavy price that must be paid already because the source of Fouad Hussein’s political legitimacy is mainly that he was cooperating with Massoud Barzani, while Barham Salih has proven that he is more capable and more supportive of the West.

"There is no single meeting or even a series of meetings that deserves to sacrifice Iraq's long-term stability or to promise to lead it to a man who is not qualified to obtain it," the report said. According to the report.

The American website indicated that the White House avoided answering questions about the fact of the CIA’s secret visit to Baghdad and in response to a question about whether William Burns, director of the CIA, had traveled to Baghdad in recent days, indicating that White House press secretary Jane Psaki she did not confirm the meeting or deny that it was taking place. 

################

Report: The Director Of The Central Intelligence Agency Is Making A Secret Visit To Baghdad    LINK

[DinarThug]

LINK

Documents .. A parliamentary question to the Governor of the Central Bank regarding banks and currency outlets

 

 

 

04/27/2021 15:40:34

 

 

Member of Parliament Jamal al-Muhammadawi addressed a parliamentary question to the Governor of the Central Bank of Iraq [Mustafa Ghaleb is scary] regarding monitoring banks, banking companies and brokerage offices for the sale and purchase of foreign currencies.

 

According to a document issued by his office, Al-Furat News Agency received a copy of it, Al-Muhammadawi said, "Through the Federal Office of Financial Supervision auditing the data on the capital of private banks, it was noticed that there were a number of banks that did not increase their capital to (250) billion dinars, in contrast to the uncles of the General Directorate of Banking and Credit Control. In the year 2013, we mention some of these banks, for example, the Dar Al Salam Bank (150) billion dinars, the Babylon Bank (178.859) billion dinars, the Tigris and Euphrates Bank (100) billion dinars, and the Islamic Cooperation Bank (144.481) billion dinars

He added that "the follow-up of the Office of Financial Supervision showed that the Central Bank's instructions related to the sale and purchase of currency did not include anything indicating the follow-up of the commercial lists provided by private banks in exchange for imported goods that were covered by credits, which causes the central bank to lose the control component of remittances. 

He pointed out that "there are no deterrent measures by the General Directorate of Banking Supervision regarding banks that refrain from paying the issuance of letters of guarantee for a specified period of time

Al-Muhammadawi added, "Some companies have been observed to engage in brokering activities in selling currency in Baghdad, but they are not installed in the database of the Banking Supervision Directorate.". 
He stressed that "companies mediating the sale of currency benefited from the issuance of the Banking Control Directorate to stop requests to grant branches to banks, which led to companies and offices taking advantage of the legal loophole

Al-Muhammadawi was surprised by the suspension of the activity of the mediation companies located in the governorates of Anbar and Nineveh. The suspension did not include the other hot provinces of Salah al-Din and Diyala in 2016

Al-Muhammadawi revealed that the company (Al-Labab to mediate in the sale of currency) borrowed from the Iraqi Trade Bank an amount of (350) million dinars, that is, (70%) of its capital of (500) million dinars, in contradiction to the law, in addition to that the loan was granted to the company before it was registered with the Department. Company registration


                 

#################

Parliamentarian indicates legal violations of some banks and directs a question to the Governor of the Central Bank  LINK

[horsesoldier]

For Gods' sake hurry the hell up . . . cut the crap would ya ! Talk talk & more talk then talk some more ! 

[DinarThug]

4 minutes ago, horsesoldier said:

Talk talk & more talk then talk some more !

 

 

 

     

[horsesoldier]

1 minute ago, DinarThug said:

 

 

 

     

    

[DinarThug]

11 minutes ago, DinarThug said:

Member of Parliament Jamal al-Muhammadawi addressed a parliamentary question to the Governor of the Central Bank of Iraq [Mustafa Ghaleb is scary] regarding monitoring banks, banking companies and brokerage offices for the sale and purchase of FOREIGN CURRENCIES.

 

LINK

Foreign currency exchange drops, Iraq’ central bank says
 

27th April, 2021

The Central Bank of Iraq on Tuesday, announced decrease in the foreign currency exchange.
Shafaq News Agency correspondent said that the foreign currency auction of the Central Bank of Iraq recorded a 3.85% decrease to 200,454,012 dollars which the bank covered at an exchange rate of 1460 dinars per dollar.

He added that the sales operations were in the form of wire transfer (165,054,012 $) and credits (35,034,000$).

Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.

The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.

[DinarThug]

Over $1 Trillion Dollars !  

 

     

 

LINK

Saeron reveals the money spent in Iraq since 2003 until now

 

26th April, 2021

Today, Monday, the MP for the Saeron Alliance, Riyadh Al-Masoudi, revealed the money that has been spent in Iraq since 2003 until now.

Al-Masoudi told "Tigris" that "the money that has been spent in Iraq since 2003 is about 1120 billion dollars, and these funds are sufficient for several countries, and some of these funds are called (burned money) that the Iraqi citizen does not benefit from.

The simplest example of this is that one of the governorates spent 50 billion dinars. For celebrations only."

On the Ibn Al-Khatib Hospital incident, he warned that "Iraq will witness in the future similar events to the Ibn Al-Khatib Hospital tragedy, indicating that there are 10 hospitals that are threatened with disappearing due to government negligence." 

He added that "the reaction of the government and parliament to the tragedy is not at the level required at all," pointing out that "only 166 deputies attended the special session on the Ibn al-Khatib tragedy."

He continued, "What happened in Ibn Al-Khatib is a natural context for the catastrophic reality that all security and service ministries are experiencing," describing "the current government system as a whole flabby and the Iraqi citizen is the one affected at all times." 
He pointed out that "the Minister of Health, Adela Hammoud, spent her four years and was questioned by Parliament with dozens of files, and despite that, he did not succeed in removing her from her post," considering that "

Al-Masoudi concluded by saying that "everything in Iraq at this stage is being marketed electorally, as the tragedy of Ibn Al-Khatib has been exploited against the Saeron coalition," warning that "the coming months will be fiery due to the proximity of the elections and the political surge."

[DinarThug]

LINK

Parliamentary Finance clarifies a mechanism for settling Kurdistan dues


 

27th April, 2021

 

The Parliamentary Finance Committee confirmed, on Tuesday, the launch of the allocations for the provinces, noting that Kurdistan's dues are settled under the supervision of the Federal Office of Financial Supervision and Financial Supervision for the region

Committee reporter Ahmed Al-Saffar said in a statement to NRT today (April 27, 2021), that "the provincial allocations were launched after the issuance of budget instructions," pointing out that "these funds remain for the governorate and are recycled for the next year if not spent this year

He added, "The problems between the region and the federal government are not only financial, as there are dues between the two parties, and according to Article (11 first), these dues are settled under the supervision of the Federal Office of Financial Supervision and Financial Supervision of the region, and that other non-financial matters need negotiations for the purpose of finding solutions to them

Al-Saffar stated, "There is no such thing as financial allocations outside the budget, as well as additional degrees, and additional bicycles are allocated to the health sector only, as for the funds related to the savings related to the planned oil difference and the market price, this is a supplementary budget is organized for it to cover the financial deficit through it

[jg1]

1 hour ago, DinarThug said:

the money that has been spent in Iraq since 2003 is about 1120 billion dollars, and these funds are sufficient for several countries, and some of these funds are called (burned money) that the Iraqi citizen does not benefit from.

The simplest example of this is that one of the governorates spent 50 billion dinars. For celebrations only

🤕, ouch. Talk about the Iraqis getting screwed.