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Finance Minister: The white paper includes 600 changes in laws


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A meeting in Finance to discuss the implementation of the white paper projects

Economie04:12 - 13/06/2021

 
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Baghdad - Mawazine News
The opinion committee in the Ministry of Finance held, on Sunday, a meeting headed by its Minister, Ali Allawi, to discuss the implementation of the white paper projects.
The ministry stated in a statement that Mawazine News received a copy of it, that "the meeting discussed a number of paragraphs, foremost of which is discussing the implementation of the items of the projects that came in the financial and economic reform plan (the white paper) and following up on the extent of the commitment of the implementing agencies to the projects listed within the framework of the executive plan of the paper." .
Allawi stressed, "the necessity of proceeding according to the prescribed path and within the specific timings and schedules approved by the reform paper, and the concerted efforts of the ministries along with the private sector and coordination with all parties and supporting parties to ensure the full achievement of the goals and projects."
Allawi stressed finding appropriate solutions towards overcoming all difficulties that impede the implementation of plans and projects with the aim of accelerating the achievement of the goals of the White Paper aimed at correcting the national economic path and achieving sustainable and comprehensive economic development.
The meeting dealt with discussing a number of issues and procedures related to the work of the ministry's departments and bodies and taking appropriate decisions in their regard.

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Today, Sunday, Finance Minister Ali Allawi stressed the need to proceed according to the prescribed path and within the specific timings and schedules approved by the reform paper.

 

And the finance said in a statement, received by Alsumaria News, that its minister “presided today at the ministry’s headquarters, the meeting of the opinion body in the presence of the Prime Minister’s advisor Alaa Al Saadi, agent Ministry of Finance And the ministry’s advisers and general managers in the ministry, to discuss a number of paragraphs, foremost of which is discussing the implementation of the items of the projects that came in the financial and economic reform plan (the white paper) and following up on the extent of the commitment of the implementing agencies to the projects listed within the framework of the executive plan of the paper.
 
 


Allawi stressed, "the necessity of proceeding according to the prescribed path and within the specific timings and schedules approved by the reform paper, and the concerted efforts of the ministries along with the private sector and coordination with all supporting parties and parties to ensure the full achievement of the goals and projects."

He stressed, "to find appropriate solutions towards overcoming all difficulties that impede the implementation of plans and projects with the aim of accelerating the achievement of the goals of the White Paper aimed at correcting the national economic path and achieving sustainable and comprehensive economic development."



The meeting also touched upon, according to the statement, "discussing a number of issues and procedures related to the work of the ministry's departments and bodies and taking appropriate decisions in this regard."

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Today, Tuesday, Finance Minister Ali Abdel Amir Allawi confirmed that the white paper aims to correct institutional performance and provide the best projects.

The ministry said in a statement received by Alsumaria News, "The Minister of Finance, Ali Abdul Amir Allawi, held a meeting with the institutional performance evaluation coordination team in the General Secretariat of the Council of Ministers, which included Deputy Secretary-General of the Council of Ministers Jassem Muhammad Hamid and Riyad Fadel Muhammad, head of the institutional performance evaluation coordination team and Taif." Sami, Undersecretary of the Ministry and Director General of the Economic Department in the Ministry of Finance.
 
 
 
The statement added that "the Minister of Finance discussed during the meeting the ministry's strategic plan and its future vision aimed at developing and improving the services provided by its departments to all state institutions and to various segments of society."
 
The Minister of Finance indicated, according to the statement, that "the principle of work and tasks of the ministry and its departments have witnessed a remarkable development by adopting the best international standards of high quality, and it is continuing with progressive steps towards raising the level of the tasks entrusted to it."
 
 
The statement continued, "The presentation of the financial and economic reform plan represented in the white paper, which aims in its entirety to correct the institutional performance aimed at providing the best projects and improving the level of services that are in the interest of the Iraqi people."
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Today, Sunday, the Ministry of Finance confirmed that Iraq is moving steadily towards maximizing its non-oil resources to support the resources of its public budgets.

The ministry said in a statement, received by Alsumaria News, that "the Minister of Finance Ali AllawiToday, he chaired a follow-up session on the implementation of the projects of the white paper, in the presence of the advisor to the Prime Minister and the Executive Director of the Economic Reform Committee Alaa Al-Saadi, the Undersecretary, the advisors of the Minister of Finance and a number of general managers, to follow up on the implementation of the projects approved by the financial and economic reform plan, related to the axis of government expenditures, including the project to reduce the gap The public budget deficit is at safe levels.
 
 
 

He referred to "discussing the public spending project and working towards directing it to enhance the investment side with positive returns for the benefit of the overall national economy."

The meeting discussed, according to the statement, "studying government support for public companies and focusing support towards productive sectors and companies contributing to the gross domestic product."

The Minister of Finance stressed, "Continuing efforts and work towards maximizing non-oil revenues and moving towards reducing financial expenditures borne by the state budget as a result of the burdens of financial support for public companies with high rates, which cast a shadow of negative effects on the development and development of the rest of the productive sectors."
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 Baghdad: morning 
 
Deputy Prime Minister and Minister of Finance Dr. Ali Abdul-Amir Allawi said: {Iraq is dealing seriously with issues that have hindered and distorted the economy,' pointing out that "the Prime Minister and his reform team took a bold decision to implement a reform agenda, and any reform must have great political support." and recognition of its necessity, and there was support from political leaders and important parliamentary groups for reforming the state's economic policy. 
 
Infrastructure
He pointed out that {the decision to devalue the currency is necessary to improve competitiveness within the Iraqi economy and improve public finances, and a number of necessary infrastructure projects that have suffered interruption for years have been completed, and we have also worked on reforming the banking system, and establishing an anti-corruption squad. 
He stressed that {the white paper is the most important achievement of the government and a serious plan to reform the economy, as it calls for the issuance of more than 600 changes in laws aimed at reforming the economy}. 
 
investment efforts
The head of the National Investment Commission, Suha Al-Najjar, confirmed that "investment is an absolute necessity to develop the reality of the national economy and move it to a better stage, and that the commission is supportive of investment efforts that wish to enter the Iraqi labor market. 
The speech of the Minister of Higher Education and Scientific Research was read out by Dr. Yassin Al-Ithawi, in which he emphasized “the ministry’s continued investment in human capital,” pointing to “the establishment of training units that will be transformed into specialized centers, aimed at developing students and putting them in the labor market after rehabilitating them.” ", pointing to a breakthrough in the reality of e-learning during a record period, despite the lack of infrastructure in the country."
 
International Conferences
Member of the Board of Directors of the Union of Arab Banks Ziad Khalaf said: {The issue of the reconstruction of Iraq began to be planned immediately after the end of the war, as the first preparatory meeting was held in New York, during which the United Nations, the World Bank, the International Monetary Fund and the Iraqi side identified the main sectors involved in reconstruction, including education. And health, transportation, transportation and electricity, as well as many other international conferences, which were devoted to the reconstruction and held in Japan, China, Spain, Belgium, Egypt, Kuwait and other Arab countries, up to the white paper that was officially supported by {the International Contact Group for Iraq IECG. Which includes the seven 7G countries, the European Union, the World Bank and the IMF international }.
 
He said: {As a matter of national responsibility, I appeal to all distinguished Iraqi businessmen at home and abroad to participate in the development of the private sector to enable it to assume an important role in the responsibility of reconstruction and to play a greater role in the economic arena and to supply the necessary supplies for everything the country needs, to reflect the real capacity inherent in Iraqi society and attracting national immigrant capabilities to rebuild the country.
 
achieve goals
As for the Deputy Governor of the Central Bank, Ihsan Al-Shamran, stressed that rebuilding Iraq requires the ability to build and follow it, and to achieve the goals seriously. 
He referred to the initiatives of the Central Bank and the support it provides to small and medium enterprises in addition to the housing sector, especially vertical housing with comfortable installments, and the Central Bank is also working to enhance the role of women in economic life. 
He pointed out that "the evaluation oversight on the banking system to be an actual supporter of the development process and assigning it with possible financing."
 
put forward an initiative
Communications specialist Alaa Jassem said: "The world has become closely linked to the Internet, which requires us to provide advanced services in the country," noting that "the coming period will witness the launch of an initiative (Education in Iraq), and this supports electronic universities." 
The representative of Frontier Exchange Company, Ahmed Al-Jader confirmed that {the volume of international participation in the conference by major international companies reflects the importance of the Iraqi market for international companies, as it is keen to be present in the economic forums organized inside Iraq}.
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Monday, June 28, 2021 5:50 PM

Baghdad / National News Center

Today, Monday, Minister of Finance, Ali Abdul-Amir Allawi, clarified the positives of the decision to devalue the national currency on the national economy, while the head of the National Prestige for Investment, Suha Al-Najjar, confirmed that she is supportive of investment efforts that want to enter the Iraqi labor market.

This came during an influential event organized by Frontier Exchange International, followed by the "National News Center", where the conference was opened by Deputy Prime Minister and Minister of Finance Ali Abdul-Amir Allawi, who spoke about "the Iraqi economy and the kinks that the country suffers from that have been rooted for some time, and the importance of moving towards the right directions." He referred to the “positives of the decision to devalue the national currency on the national economy.”
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He stated, "The importance of the white paper and the mechanisms that came with it, which we can consider as a prescription for the diseases of the national economy."

For her part, head of the National Investment Prestige, Suha Al-Najjar, said that "investment is an absolute necessity to develop the reality of the national economy and move it to a better stage," noting that "the commission is supportive of investment efforts that want to enter the Iraqi labor market."

While the Chairman of the Board of Directors of the International Development Bank, Ziad Khalaf, said, “The issue of the reconstruction of Iraq began to be planned immediately after the end of the war, as the first preparatory meeting was held in New York, during which the United Nations, the World Bank, the International Monetary Fund and the Iraqi side identified the main sectors involved in reconstruction, including education Health, transportation, transportation and electricity, in addition to many other international conferences devoted to reconstruction, which were held in Japan, China, Spain, Belgium, Egypt, Kuwait and other Arab countries, leading to the white paper recently approved by the Iraqi Council of Ministers, in its first parts. And the second, which constitutes an ambitious economic reform program for a period of 3-5 years, as this white paper was officially supported by the (International Iraq Contact Group IECG), which includes the seven countries 7G, the European Union, the World Bank and the International Monetary Fund.”

Khalaf cautioned that "this international group will have a direct role in the institutional governance of this white paper and the implementation of its 64 strategic projects. The white paper identified with unprecedented clarity the roots of structural problems in the Iraqi economy, and recognized that the most important of these problems is the expansion of the state's role in managing the Iraqi economy." Which caused great damage to the private sector and reduced a cycle in the development process, in addition to other structural problems, including the rentier economy methodology, almost free services for electricity and water, population pressures and the state employee’s salary bill.”

He added, "According to estimates issued by the joint report of the World Bank and the United Nations and a number of independent Iraqi experts, Iraq needs between 88 and 100 billion dollars to implement reconstruction projects, and in our opinion, representatives of part of the national economy, whatever the cost we are able to bear, because we have Huge potentials of financial, material and human resources, but we failed to invest or exploit these capabilities properly. We believe that Iraq is able to finance development if there is a conscious management of the economy.”

Khalaf explained that "the responsibility for rebuilding the state is the responsibility of both the public and private sectors," noting, "I am interested here to address the banking aspect and its role in the process of rebuilding Iraq, as you know that the Iraqi banking sector always constitutes one of the main levers to support the Iraqi economy."

He extended his greetings to the Central Bank of Iraq and Governor Mustafa Ghaleb, and to all Iraqi banking leaders, who efficiently faced local challenges, and contributed to strengthening and supporting the national economy and sustainable development.

He pointed out that "the International Development Bank, which had an active and positive contribution to the process of rebuilding Iraq by financing a wide range of huge projects in various economic sectors, as the volume of monetary and non-cash credit financing provided by the Iraqi public and private banking sector for major projects and companies and to The housing sector and small and medium-sized companies exceeded $30 billion, of which the share of private banks was about 28%, and we in the International Development Bank had an active role in these financing operations, playing a prominent role in launching the principles of financial inclusion to achieve one of the goals of sustainable development and work to transform Iraq To a country less dependent on cash and the transition to electronic payment operations, which contributed to raising the efficiency of the performance of the banking sector, and in achieving the optimal monetary policy in Iraq.”

Khalaf stressed that "our sponsorship of this conference confirms our interest in the process of rebuilding Iraq and sensing our national responsibility and duty in this context, as we were keen to continue investing in human capital and infrastructure, applying the best available banking industry techniques, and providing the latest electronic banking services to individuals and Companies with high quality and widely. Our interest was not only limited to the banking aspect, but we had a broad strategic vision for the future, as we worked to establish a group of different institutions such as insurance, contracting, industry, investment, real estate development and information technology.”

And he continued, as part of the (duty) of national responsibility, “I appeal to all distinguished Iraqi businessmen at home and abroad to participate in the development of the private sector to enable it to assume an important role in the responsibility of reconstruction and to play a greater role in the economic arena and to supply the necessary supplies for everything the country needs, to reflect The real potential in Iraqi society and the attraction of national immigrant capabilities to rebuild the country.

For his part, the representative of Frontier Exchange, Ahmed Al-Jader, stressed that "the volume of international participation in the conference by major international companies reflects the importance of the Iraqi market for international companies, as it is keen to be present in the economic forums organized inside Iraq."

 
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gas field
  

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Economy News - Baghdad

On Tuesday, the Basra Gas Company signed a contract with the International Finance Corporation, as part of a loan agreement worth $ 360 million for a period of five years, to limit gas flaring and its investment.

A statement seen by "Economy News" stated that "through this agreement, the International Finance Corporation is investing in the Basra Gas Company to support one of the largest gas flaring reduction projects in the world to support the most sustainable energy sector in Iraq."

The statement added: "This loan will contribute to the expansion and increase of Basra Gas Company's capacity to process an additional 400 million standard cubic feet per day of natural gas. This is an increase of 40% from the company's current capacity, which aims to help the country meet its growing energy needs and supply one million An additional Iraqi home with energy.

He explained: "The Basra plant project to separate liquids from gas will reduce greenhouse gas emissions by about 10 million tons annually."

He pointed out that Iraq enjoys "large reserves of natural gas, and in the absence of the infrastructure necessary to process gas during oil production, it is burned and wasted. This leads to large emissions of greenhouse gases, and at the same time, homes and companies in the country depend on other energy sources that may be themselves are associated with similar emissions of gases. By capturing the gas by-product and later using it by these customers, the Basrah Liquid Gas Separation Plant project can help reduce overall emissions."

He continued, "The IFC loan will partially finance the construction of this new gas processing facility (Basra Natural Gas Processing Plant (BNGL), which is part of a broader plan to reduce gas flaring in southern Iraq."

In this regard, Minister of Oil Ihsan Abdul-Jabbar said, according to the statement, "Signing this loan supports joint efforts to maximize the optimal investment of gas associated with oil operations, by treating it with the latest modern technologies and striving to achieve our goals of converting burned energy into clean and useful energy, and working to reduce energy consumption." emissions and harmful environmental impacts.

He pointed to "the importance of strengthening cooperation with sober international banks to implement and support sustainable development projects, including gas investment projects in the Basra Gas Company."

Ismail added that "this loan opens new horizons for more cooperation and transactions that serve common interests and goals," stressing "Iraq's commitment to maximizing associated gas investment projects, and achieving the standards and objectives stipulated in the Paris Agreement."

In turn, the managing director of Basrah Gas Company Malcolm Mays said: "We are pleased to sign this agreement with the International Finance Corporation, which is the first loan agreement of its kind in the oil and gas sector, and it is a milestone that we are proud of. This agreement demonstrates the strength and ability of Iraqi companies, such as Basrah Gas Company. Attracting funding and trust from international banks.

He added that "the aim of this five-year loan is to support the company's growth project, the Basra Gas-Liquids Processing and Separation Plant (BNGL) and converting wasted gas to the much-needed energy of the country."

"Our strategy is in line with the Iraqi government's vision to provide electricity to Iraqi homes and create a more sustainable energy industry. This agreement would not have been possible without the continued support of the Ministry of Oil, the International Finance Corporation and our shareholders," Mays said.

The IFC investment consists of $137.76 million as a loan from the IFC's own account and a $180 million syndicated loan to eight international banks (Bank of China, Citibank, Deutsche Bank AG, Industrial Commercial Bank of China, Natixis, Sumitomo Mitsui Banking and Societe General, Standard Chartered Bank), and a $42.24 million loan through the IFC Syndication Managed Lending Portfolio Program, a platform that allows institutional investors to participate in the IFC's loan portfolio.

The project benefits from the World Bank Group's long-term engagement in the energy sector in Iraq. Iraq joined the Global Gas Flaring Reduction Initiative in 2011 and in 2013 committed to eliminating all routine natural gas flaring by 2030.

 
 
Views 57   Date Added 06/29/2021
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The White Paper.. 64 projects and government directions to seek the assistance of international expertsخبراء

political01:55 - 30/06/2021

 
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Baghdad - Mawazine News
, Advisor to the Prime Minister, Alaa Abdul-Hussein Al-Saadi, confirmed, on Wednesday, that the white paper included 64 projects, stressing that international experts would be hired to implement them.
Al-Saadi said, according to the official media, that "the white paper issued by the Iraqi government, in its first and second parts, identified a number of oil projects to increase export capacity, increase production, increase oil refineries, design energy, gas and gas extraction through 6 well-defined projects entrusted to the Ministry of Oil."
He continued that "the white paper includes two parts, the first part of which deals with the Iraqi economic reality and the goals and strategies followed by the government and the translation of these goals and strategies through the second part issued by the government and which included the mechanisms and governance of implementation, in addition to dividing these goals into strategic projects in various ministries." Noting that "there are approximately 64 projects, and each project is divided into a number of objectives that must be implemented, and set in a time period," noting that "there are approximately 366 objectives within the projects."
He stressed that "the announcement to start implementing the white paper projects will be issued soon," noting that "some ministries have started implementing some projects, but the official announcement of the implementation has not started," explaining that "during the coming period, preparations for the implementation process will be completed."
He pointed out that "the 64 projects included in the white paper, we will use to implement them with international expertise and international organizations, in order to provide the best experiences for each project separately, and we will launch a website for the implementation of the white paper, in order to achieve transparency and announce it to people within a very soon." Ended 29/A 43

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Tuesday 6 July 2021 | 01:46 PM
Number of readings: 133

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A member of the Parliamentary Finance Committee, Jamal Kougar, considered, on Tuesday, that the implementation of the white paper announced by Mustafa Al-Kazemi’s government, is “almost impossible” in light of the political parties’ control of state resources, as he put it .

Cougar said, "The white paper announced by the government earlier was based more on the theoretical side than the practical, and the evidence is that the 2021 budget law that came from the government before it was passed in Parliament was devoid of all its paragraphs from the articles of the paper ."

He added that "the government is talking today about the percentages of achievement related to the implementation of the White Paper. In fact, they are exaggerated rates," stressing that "the implementation of the White Paper is almost impossible due to the control and domination of some political parties over the state's resources ."

He explained, "If the government does not leave the control of these parties, the country will not witness an economic recovery. The country's life will not be achieved through the international community, because these parties control everything and work according to an external agenda that sometimes helps them even by standing against the development of the local product."

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“The government is talking today about the percentages of achievement related to the implementation of the White Paper. In fact, they are exaggerated rates," stressing that "the implementation of the White Paper is almost impossible due to the control and domination of some political parties over the state's resources ."

He explained, "If the government does not leave the control of these parties, the country will not witness an economic recovery. The country's life will not be achieved through the international community, because these parties control everything and work according to an external agenda that sometimes helps them even by standing against the development of the local product."

 

Iran agenda.

- Stopping important laws from being voted and approved 

- Sabotage of national electric grip

- Rockets and drones attack to embassy and military bases

- Getting foreign currency from CBI daily auctions 

 

Iran will do whatever it takes to stop Iraq development.

 

 

 

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Biden has probably given Iran the go ahead to place Iraq back into the wicked webs it weaves. Meanwhile… Back at the ranch…. America/Biden will focus on Syria and look the other way while Iran slips back into its comfy Iraqi shoes….  😡

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Finance Minister: The white paper will set the main steps for preparing budgets for the coming years

political02:35 - 11/07/2021

 
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Baghdad - Mawazine News
, Minister of Finance, Ali Abdul Amir Allawi, confirmed, on Sunday, that the white paper will set the main steps for preparing budgets for the coming years.
A statement by the ministry, which Mawazine News received a copy of, stated that "the Minister of Finance, Ali Abdul Amir Allawi, chaired, today, at the ministry's headquarters, a session to follow up the implementation of the reform projects of the "white paper" in the presence of the Executive Director of the Economic Reform Committee Alaa Al-Saadi and the Undersecretary of the Ministry Taif Sami Advisers to the Minister of Finance and the Ministry's general directors.
The statement added that "the meeting discussed the reform axes identified by the white paper represented by the public financial management and financial information systems, as part of its steps, which are among the important steps to achieve sustainable financial stability and give an opportunity to achieve other structural reforms."
He continued, "The meeting discussed the implementation of the integrated financial information management system project, which will contribute to increasing the speed of electronic communication for the ministry and the rest of the ministries in order to provide accurate information and will enhance the supervisory role on financial accounts and not exceed the financial appropriations established in the budget, in addition to facilitating the process of implementing the program and performance budget."
The minister said, "The application of the financial management system and the information management system will enhance the state's access to the necessary funds and control government spending, which will lead to spending these funds efficiently and effectively in accordance with the state's financial policy."
Allawi indicated, "The continuing follow-up to the content of the white paper to reform the financial and economic affairs, which will set the main steps for preparing budgets for the coming years." Ended 29/A43

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On 7/1/2021 at 6:33 AM, Laid Back said:

For what I read in another article all these projects are going to be paid in dinars. The implementation has not started.

 

Budget 2021 passed but not implemented yet.

 

Investment and reconstruction law ready to be approved.

 

Imminent transition to digital banking.

 

Al-kazemi on a mission to bring Iraq to the world stage.

 

Countless article talking about exchange rate and delete of 000

 

Go Iraq 

Go international 

Go open market economy 

Go RV


 

 

Great summary and great news! 

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Finance Minister: The white paper will set the main steps for preparing budgets for the coming years

Posted 5 hours ago
news source / Mawazine News
111172021_04339e73-5e15-4e89-9804-d9b747
 
News source / Mawazine News

|  
02:35 – 11/07/2021

Baghdad - Mawazine News
, Minister of Finance,
Ali Abdul Amir Allawi, confirmed, on Sunday, that the white paper will set the main steps
for preparing budgets for the coming years.
A statement by the ministry, which Mawazine News received a copy of, stated that “the Minister of Finance,
Ali Abdul Amir Allawi, chaired, today, at the ministry headquarters, a session to follow up on the implementation of the
reform projects of the “white paper” in the presence of the Executive Director of the Economic Reform Committee
Alaa Al-Saadi and the Undersecretary of the Ministry Taif Sami advisors to the
Minister of Finance and the general managers of the ministry.
The statement added, "The meeting discussed the axes of reform identified by the white paper
represented by the public financial management and financial information systems, as part of its steps, which are among
the important steps to achieve sustainable financial stability."
And give an opportunity to achieve other structural reforms.”
He continued: “The
meeting discussed the implementation of the integrated financial information management system project, which will contribute to increasing the
speed of electronic communication for the ministry and the rest of the ministries in order to provide accurate information and will enhance the
oversight role on financial accounts and not exceed the financial appropriations established in the budget, in addition
to facilitating the process of implementing the program and performance budget.”
The minister said,
"The application of the financial management system and the information management system will enhance the state's access to the
necessary funds and control government spending, which will lead to spending these funds efficiently
and effectively in accordance with the state's financial policy."
Allawi pointed out,
"The continued follow-up of the content of the white paper to reform the financial and economic affairs, which...
It will set the main steps for preparing budgets for the coming years.” Ended 29/A 43

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Finance is looking into the implementation of the financial and information management systems within the steps of the reform paper

914936-897b3010-df2c-451d-b412-a624a73fa
Baghdad / NINA /- Minister of Finance Ali Abdul-Amir Allawi chaired, today, Sunday, a meeting to follow up the implementation of the reform projects "White Paper" in the presence of the Executive Director of the Economic Reform Committee Alaa Al-Saadi, Undersecretary Taif Sami, advisors to the Minister of Finance and general managers of the ministry.

A statement by the Ministry of Finance stated, "During the meeting, the reform axes identified by the white paper were discussed, represented by the "Public Financial Management and Financial Information" systems, as part of its steps, which are among the important steps to achieve sustainable financial stability and give an opportunity to achieve other structural reforms.

The statement added, "The meeting witnessed a discussion of the implementation of the integrated financial information management system project, which will contribute to increasing the speed of electronic communication for the ministry and the rest of the ministries in order to provide accurate information and will enhance the supervisory role on financial accounts and not exceed the financial appropriations established in the budget, in addition to facilitating the process of implementing the program and performance budget." .

The minister said: The application of the financial management system and the information management system will enhance the state's access to the necessary funds and control government spending, which will lead to spending these funds efficiently and effectively in accordance with the state's financial policy.

Allawi stressed the continuation of follow-up to the content of the white paper to reform the financial and economic affairs, which will set the main steps for preparing budgets for the coming years./End of H
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Finance Minister: The white paper will set the main steps for preparing budgets for the coming years

upload_1626003751_824231405.jpeg

 Yesterday, 14:42

Baghdad - conscious

Finance Minister Ali Abdel Amir Allawi confirmed today, Sunday, that the white paper will lay out the main steps for preparing budgets for the coming years, noting that the application of the financial management system and the information management system will enhance the state's access to the necessary funds.

And the ministry’s media office said in a statement received by the Iraqi News Agency (INA), that “the Minister of Finance chaired at the ministry’s headquarters a follow-up session on the implementation of the reform paper projects (the white paper) in the presence of the Executive Director of the Economic Reform Committee Alaa Al-Saadi, the Undersecretary of the Ministry of Finance Taif Sami, the advisors of the Minister of Finance and the general managers of the ministry.  ” .

He added that "the meeting discussed the reform axes identified by the white paper represented by the (Public Financial Management and Financial Information) systems as part of its steps, which are among the important steps to achieve sustainable financial stability and give an opportunity to achieve other structural reforms."

The statement continued, "The meeting discussed the implementation of the integrated financial information management system project, which will contribute to increasing the speed of electronic communication for the ministry and the rest of the ministries in order to provide accurate information and will enhance the oversight role on financial accounts and not exceed the financial appropriations established in the budget, in addition to facilitating the process of implementing the program and performance budget."

The minister said, according to the statement, that "the application of the financial management system and the information management system will enhance the state's access to the necessary funds and monitor government spending, which will lead to spending these funds efficiently and effectively in accordance with the state's financial policy," stressing that "continued follow-up to the content of the white paper to reform the financial and economic affairs, which It will lay out the main steps for preparing budgets for the coming years."

 

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