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Officially ... Finance publishes instructions for implementing the 2021 budget


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The Iraqi President approves the federal budget for 2021

The Iraqi President approves the federal budget for 2021
Iraqi President Barham Salih approves the 2021 budget
 

Mubasher: The Iraqi President, Barham Salih, approved today, Thursday, the federal budget for 2021.

The Presidency of the Republic said, in a statement, that the President of the Republic approved the financial budget, after the law reached the Presidency of the Republic from the House of Representatives after it was voted on in the Council.

Saleh said that approval comes to secure the necessary needs of the Iraqi people, and to finance the salaries of employees and retirees and the necessary government expenditures in a way that achieves social justice for all regions of Iraq and all segments of society.

Saleh added that approving the budget is an important step towards fulfilling the citizens' entitlement, stressing the need to adopt financial and economic reform and to support the departments concerned with implementing the budget provisions, and by concerting everyone's efforts to achieve what is hoped for in meeting the needs of citizens, supporting low-income classes, and providing job opportunities for young people.

The President of the Republic stressed the need to support the various economic sectors in a way that contributes to supporting the goals of development and progress, indicating that approving the budget is an important step towards meeting citizens' entitlements, and strengthening the role of the departments concerned with implementing the budget’s provisions and with concerted efforts by everyone to achieve what is hoped for in meeting the needs of citizens and reconstructing the country. And take maximum measures to support low-income classes, provide job opportunities for young people, and continue the path of reform and combating corruption.

Last Tuesday, the General Secretariat of the House of Representatives sent the Federal Budget Law for the fiscal year 2021 to the Office of the Presidency of the Republic. 

On March 31, the Iraqi Council of Representatives voted to pass the budget for the current year 2021, after months of deliberations between the committees of parliament and the government that ultimately resulted in deleting 5 articles of the budget law, and adding new items.

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Officially ... Finance publishes instructions for implementing the 2021 budget 2021.04.30 - 16:00      Baghda

The latest information about the Kurdistan Region’s share of the budget   1/5/2021 09:52:00             The latest information about the Kurdistan Region’s share of th

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The President of the Republic approves the budget law

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 Political

 

 Today, 13:40
 


Baghdad - conscious 

Today, Thursday, the President of the Republic, Barham Salih, ratified the federal fiscal budget law for the current year .

President Saleh said, after approving the budget in a statement received by the Iraqi News Agency (INA), that "the approval comes to secure the necessary needs of our people, and to finance the salaries of employees and retirees and the necessary government expenditures in a way that achieves social justice for all regions of Iraq and all segments of society . "

He stressed, "the need to adopt financial and economic reform and support the various economic sectors in a way that contributes to supporting the goals of development and progress," noting that "approving the budget is an important step towards meeting the citizens' entitlements, and strengthening the role of the departments concerned with implementing the budget provisions and with the concerted efforts of everyone to achieve what is hoped for in bridging The needs of citizens and the reconstruction of the country, and taking the utmost measures to support the low-income classes, provide job opportunities for young people, and continue the path of reform and combating corruption . "

The approval of the President of the Republic came after the law reached the Presidency of the Republic from the House of Representatives after it was voted on in the House .

 

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 2021-04-08 07:54
 

Shafaq News / The President of the Republic, Barham Salih, approved, on Thursday, the federal fiscal budget law for the current year.

Saleh said that approval comes to secure the necessary needs of our people, and to finance the salaries of employees and retirees and the necessary government expenditures, in a way that achieves social justice for all regions of Iraq and all segments of society.

President Saleh stressed the need to adopt financial and economic reform and support the various economic sectors in a way that contributes to supporting the goals of development and progress, indicating that approving the budget is an important step towards meeting citizens' entitlements, and strengthening the role of the departments concerned with implementing the budget’s provisions and with concerted efforts by everyone to achieve what is hoped for in meeting the needs of Citizens and rebuilding the country, and taking maximum measures to support low-income classes, provide job opportunities for our youth, and continue the path of reform and combating corruption.

The approval of the President of the Republic came after the law reached the Presidency of the Republic from the House of Representatives after it was voted on in the House.

 

On Wednesday (March 31, 2021), the Iraqi parliament voted on the federal budget law for the fiscal year 2021, with a deficit of more than 28 trillion dinars, and a tug of war that lasted for months.

The general budget revenues amounted to more than 101 trillion Iraqi dinars, while expenditures were estimated at 129 trillion dinars.

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The President of the Republic ratifies the fiscal budget law


 

8/4/2021 14:01:00

 
 
30011842021_03.jpg       
The President of the Republic ratifies the fiscal budget law

 

Barham Salih, President of the Republic, ratified today, Thursday, April 8, 2021, the federal fiscal budget law for the current year.

The president said that the approval comes to secure the necessary needs of our people, and to finance the salaries of employees and retirees, and the necessary government expenditures, in a way that achieves social justice for all regions of Iraq and all segments of society.

President Saleh stressed the need to adopt financial and economic reform and support the various economic sectors in a way that contributes to supporting the goals of development and progress, indicating that approving the budget is an important step towards meeting citizens' entitlements, and strengthening the role of the departments concerned with implementing the budget’s provisions and with concerted efforts by everyone to achieve what is hoped for in meeting the needs of Citizens and rebuilding the country, and taking maximum measures to support low-income classes, provide job opportunities for our youth, and continue the path of reform and combating corruption.

The approval of the President of the Republic came after the law reached the Presidency of the Republic from the House of Representatives after it was voted on in the House.

 

 

PUKmedia

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The information / Baghdad ..
The President of the Republic, Barham Salih, approved today, Thursday, the Federal Public Budget Law for the current year.
President Saleh said, after approving the budget in a statement received by the information, that “the approval comes to secure the necessary needs of our people, and to finance the salaries of employees and retirees and the necessary government expenditures in a way that achieves social justice for all regions of Iraq and all segments of society.”
He stressed, “the need to adopt financial and economic reform and support the various economic sectors in a way that contributes to supporting the goals of development and progress,” noting that “approving the budget is an important step towards meeting citizens’ entitlements, and strengthening the role of the departments concerned with implementing the budget’s provisions and with the concerted efforts of everyone to achieve what is hoped for in blocking The needs of citizens and the reconstruction of the country, and take the utmost measures to support the low-income classes, provide job opportunities for young people, and continue the path of reform and combating corruption.
The approval of the President of the Republic came after the law reached the Presidency of the Republic from the House of Representatives after it was voted on in the House.

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  •  Time: 04/08/2021 13:40:18
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Saleh approves the budget and stresses the implementation of its provisions
  
{Economic: Al Furat News} The President of the Republic, Barham Salih, approved today, Thursday, the federal fiscal budget law for the current year 2021.
 

"The approval comes to secure the necessary needs of our people, and to finance the salaries of employees and retirees and the necessary government expenditures, in a way that achieves social justice for all regions of Iraq and all segments of society," Saleh said during his budget signing ceremony, according to an official statement.

President Saleh stressed the need to adopt financial and economic reform and support the various economic sectors in a way that contributes to supporting the goals of development and progress, indicating that the approval of the budget is an important step towards meeting citizens' entitlements, and strengthening the role of the departments concerned with implementing the budget’s provisions and with concerted efforts by everyone to achieve what is hoped for in blocking The needs of citizens and rebuilding the country, and taking maximum measures to support the low-income classes, provide job opportunities for our youth, and continue the path of reform and combating corruption.

The approval of the President of the Republic came after the law reached the Presidency of the Republic from the House of Representatives after it was voted on in the House.

On March 31, the House of Representatives approved the federal fiscal budget for 2021, with total expenditures amounting to 129 trillion dinars (about $ 88 billion), while it recorded a deficit of 28 trillion (about $ 19 billion).
Estimated revenues from exporting crude oil were also calculated on the basis of an average price of $ 45 a barrel, and an export rate of 3.250 million barrels per day.
Iraq relies on the revenues from selling crude to cover more than 90 percent of state expenditures, which put the country in a stifling financial crisis last year, as a result of the decline in oil prices in global markets due to the Corona pandemic.
The approval of the budget comes after the lapse of 3 months of the current fiscal year, and it will be applied retroactively over the previous months.

Ammar Al-Masoudi

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2 hours ago, yota691 said:

Saleh added that approving the budget is an important step towards fulfilling the citizens' entitlement, stressing the need to adopt financial and economic reform

Thanks Yota!

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Looks like the 2021 Budget will kickstart the economy.

 

Go Projects

Go development 

Go diversification of the economy 

Go open market economy 
Go RV

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1 hour ago, Laid Back said:

Looks like the 2021 Budget will kickstart the economy.

 

 

I was hoping they would RV/RI before Ramadan.  They still have a few days.  Let’s go Iraq.  Push the button. Do it, Do it!!!

 

 

4B7C0AD2-6DFC-4C91-9DE0-EEDA01AFC0B8.jpeg.aacc97d22199f1eedb45aafdc3d03477.jpeg

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The President of the Republic approves the budget

 
Baghdad / morning 
 
Barham Salih, President of the Republic, ratified today, Thursday, the federal fiscal budget law for the current year.
 
President Saleh said: "The approval comes to secure the necessary needs of our people, and to finance the salaries of employees and retirees and the necessary government expenditures in a way that achieves social justice for all regions of Iraq and all segments of society."
He stressed the need to adopt financial and economic reform and support the various economic sectors in a way that contributes to supporting the goals of development and progress, indicating that approving the budget is an important step towards meeting citizens' entitlements, strengthening the role of the departments concerned with implementing the budget’s provisions, and with concerted efforts by everyone to achieve what is hoped for in meeting the needs of citizens and rebuilding the country. And to take maximum measures to support low-income classes, provide job opportunities for young people, and to continue the path of reform and combating corruption.
 
The approval of the President of the Republic came after the law reached the Presidency of the Republic from the House of Representatives after it was voted on in Parliament.
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18 hours ago, Pitcher said:

 

 

I was hoping they would RV/RI before Ramadan.  They still have a few days.  Let’s go Iraq.  Push the button. Do it, Do it!!!

 

 

4B7C0AD2-6DFC-4C91-9DE0-EEDA01AFC0B8.jpeg.aacc97d22199f1eedb45aafdc3d03477.jpeg

Wishful thinking or do you really think they'll pull the trigger? just wondering.

 

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18 hours ago, Pitcher said:

 

 

I was hoping they would RV/RI before Ramadan.  They still have a few days.  Let’s go Iraq.  Push the button. Do it, Do it!!!

 

 

4B7C0AD2-6DFC-4C91-9DE0-EEDA01AFC0B8.jpeg.aacc97d22199f1eedb45aafdc3d03477.jpeg

 

1 minute ago, Rugbylaird19 said:

Wishful thinking or do you really think they'll pull the trigger? just wondering.

 

 

I don't think they will.  Can they?  Yes.  Ramadan is too important to be distracted by an RV.  Most likely after.  

 

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1 minute ago, JonnyV said:

 

 

I don't think they will.  Can they?  Yes.  Ramadan is too important to be distracted by an RV.  Most likely after.  

 

BOOOOO!! GO HOME!!! 😂

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31 minutes ago, Rugbylaird19 said:

Wishful thinking or do you really think they'll pull the trigger? just wondering.


a few months ago I thought we might get it now wishful thinking 

 

we wait

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Approval of the general budget and the expected impacts of reviving the Iraqi economy

 
 Prof. Dr. Amr Hisham Mohamed  

 

It is no secret to anyone that the general budget of any country is a reflection of that country's philosophy in managing the economy and directing it to the direction it deems best to serve its interests, and because the general budget can be defined very briefly as “estimation and approval”, and because it is an estimate for a period of one year, it can follow the numbers that In the draft of the general budget, knowledge of the government's spending and revenue trends, the possibility of deficit and surplus funds for the government, and what the economy can turn into as a result of that are mentioned in the draft general budget. 
 
And because it is a leave from the legislative authority to the executive authority, this necessitated that there be control from the first over the second, as well as cooperation between them and giving priority to the interests of the country and citizens in general. There is no competition for group, electoral or interim gains and gains, which may leave disastrous effects in the whole country, including losing it. Part of the independence of his decision and Baobhth living in years 
Suffix.  
In this context, finally, consensus was reached between the political forces represented in the Iraqi parliament on the draft federal budget law for the year 2021, and the experience of the previous year exceeded 2020 with all its "health consequences represented by the Corona pandemic and the economic represented by the collapse of world oil prices", which did not witness approval of the government budget, and the approval was adopted. According to one of the provisions of Article 13 contained in the Amended Financial Management Law No. 6 of 2019, which provides for allowing the Minister of Finance to spend on the 1/12 rule, which is found for emergency situations that the country may go through, and not to be a hindrance to the failure of the political forces in Parliament in the event of failure Its compatibility.
In any case, we can look at the half full of the mug, which is represented by the expected positive effects of the approval, and we find that this modified version has succeeded in reducing the planned deficit from 71 trillion dinars to 29 trillion dinars and at a hedging price of an oil barrel at $ 45, and with the actual increase it is witnessing. Global energy markets and the price of Brent oil surpassing the $ 60 barrier «This is what the Iraqi economy needs at the very least», and if Mr. Al-Kazemi’s government maintains a reasonable and acceptable level of financial discipline in its public expenditures, it is possible that there will be happy news for the Iraqi economy in general, The general budget, in particular, has the right to shift from a state of disability to 
Surplus. 
Among the other expected positive effects of approving the budget is that it helps to start implementing investment projects and complete what is stalled or under implementation, which are projects related to infrastructure and achieve economic and human development in any country, as well as launching the payments of contractors and paying the dues of creditors, institutions and individuals such as farmers, all of this enhances Of confidence in the Iraqi economy and gives it a new impetus and greater credibility. There is a very important point raised about employment in the public sector and creating job opportunities for young graduates, between the hammer of the high compensation bill of employees and the anvil of the cohorts of young graduates with primary and higher degrees, calls to find job opportunities for them arise, and because the public sector in a rentier country like Iraq is enlarging and absorbing more Of its energy, like other rentier economies, but it remains the government's responsibility to use the public budget through the public expenditures tool to create an engine for the growth of the Iraqi economy and employment in a disciplined and sustainable manner.  
Finally, there is a point that raised a great controversy, as it is true that this budget has moved away from additional tax deduction from the salaries of employees or others, but it chose the easiest way, which is to reduce the exchange rate of the Iraqi dinar against the dollar, to the level of 1450 dinars per dollar in order to reduce the real burden of government expenditures, Although the measure was necessary to preserve the foreign exchange reserves at the Central Bank, and to limit the import bill that was subject to clear corruption in its management, the exaggerated level of the reduction is the one that is contested for its corresponding effects in increasing the general level of prices and inflation, and affecting the standard of living Fragile families, not to mention deepening the poverty of the poor, without real protection mechanisms for them, which requires reconsideration when preparing for next year's budget and overcoming the effects of the Corona pandemic, with its multiple dimensions and heavy repercussions.
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Parliamentary Finance in Iraq: Taxes imposed in the budget are applied retroactively

Parliamentary Finance in Iraq: Taxes imposed in the budget are applied retroactively
Iraqi Parliament - Archives
 

Mubasher:  The Parliamentary Finance Committee in Iraq confirmed, today, Friday, that the taxes imposed in the budget are applied retroactively.

Deputy Abd al-Hadi al-Saadawi, a member of the committee, told the Iraqi News Agency (INA) that taxes are calculated in the budget for a whole year, starting from 1/1 and ending on 12/31, pointing out that the General Budget Law is annual, so that the tax is taken retroactively.

Al-Saadawi explained that the federal budget comes into effect after its publication in the Iraqi newspaper Al-Waqa'i ’and the issuance of final instructions on it, indicating that until now, Al-Waqi’a newspaper has not published the budget, and the instructions have not been published until it is implemented by the ministries. He pointed to the possibility that it would enter into force at the end of Ramadan and take legal measures within ministries and agencies until they are implemented, with the exception of some articles that have been appealed to the Federal Court, which is supposed not to enter into force until a decision is reached by the Federal Court.

 

He indicated that a parliamentary bloc has challenged five articles in the 2021 budget, including the exchange rate, Article 11, guarantees and sovereign loans, and whose contracts have been canceled in the security ministries and the Popular Mobilization Forces, indicating that there is another article that will be challenged related to tribal segregation.

He added that this article was attached to the tables and not in the budget texts and everyone knows that the tables are very important, and this paragraph did not appear even to the members of the Finance Committee, noting that there are approximately 90 billion dinars placed in the budget for the Sunni Endowment to settle tribal disputes between the areas that were destroyed before. ISIS.

The General Budget Law for the year 2021 stipulated the continuation of imposing a sales tax on mobile phone and internet mobilization service at a rate of 20% and restricting its revenues as a final revenue to the public treasury. The budget also stipulated imposing a tax stamp with a lump sum amount of (25,000) dinars per person for foreign travel at all Iraqi airports. .

The budget also included that the Ministry of Finance should issue a tax stamp with international standards and specifications that includes imposing a tax on cigarettes and tobacco at a rate of (100)% and alcoholic and spirits at a rate of (200)%, provided that this stamp is affixed to each imported item of those items, in order to be levied from the importers of these goods , As well as imposing a tax of (15)% on imported fuel that is sold directly through fuel stations for cars and imposing a work fee on foreign workers in Iraq in a lump sum amounting to (1,500,000) dinars annually for each worker.

The Minister of Finance, Ali Abdul Amir Allawi, had sent a letter to the General Secretariat of the Council of Ministers to apply the tax deduction, including taxes imposed on employees of state departments.

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“The taxes imposed in the budget are applied retroactively, from 1/1 to 12/31”

 

“The Minister of Finance, Ali Abdul Amir Allawi, had sent a letter to the General Secretariat of the Council of Ministers to apply the tax deduction, including taxes imposed on employees of state departments.”

 

After a 22% devaluation, the prices of goods and services have increased, inflation is on the rise and now the citizens have to pay taxes retroactively.


How you do to pay taxes when your purchasing power have been drastically reduced?

 

Something is not right..... This is not the purchasing power they promised to their people.

 

Go RV

Go purchasing power

 

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