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A deputy reveals a set of options regarding the 2022 budget, including the price of the dollar


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And the ministry's statement continued, "To complement the axes of the meeting, the report of the Ministry of Commerce related to its strategic vision and the foreign trade plan aimed at organizing it and removing the negative aspects of the sector and directing it towards stimulating and developing the economic sectors in the country and supporting the private sector was presented to achieve economic diversification, sustainable development and job creation."

 

Foreign trade is the exchange of capital, goods, and services across international borders or territories. Foreign trade involves different currencies of different countries and is regulated by laws, rules and regulations of the concerned countries.

 

I believe the foreign trade plan includes an international recognized IQD 

 

Go Iraq 

Go RV

Go open market economy 

Go trade ( imports / exports )

 

 

 

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Today, Wednesday, the Ministry of Finance discussed with the Budget Strategy Committee for the years 2022-2024 the strategic vision for the oil, health and trade sectors.

 

The ministry said in a statement, received by Alsumaria News, that its minister, "Ali Abdul Amir Allawi, chaired the meeting of the thirteenth session of the committee for preparing the federal general budget strategy for the medium term 2022-2024, in the presence of the Prime Minister's advisors, the undersecretaries of the ministries of finance and health, the ministry's advisor, its general managers, and ministries." Related, as the research of the future strategic vision for the oil sector, presented by has been completed petrol Ministry These include ways to develop the sector and enhance its capabilities to increase the levels of production capacities in order to raise the volume of oil revenues to supplement future budget projects in order to achieve the objectives of the economic development process.

 

 

 

The meeting also discussed, according to the statement, "the completion of a report Ministry Health regarding the ministry’s vision and strategy aimed at developing the efficiency of the health sector and overcoming the challenges that stand against the advancement of the health sector in line with the increasing need for health care and improving the quality of health services provided to citizens, in addition to strengthening efforts to confront the challenges of the virus. Corona".

 

The meeting included," complete the discussion of the report Ministry of Commerce Its future vision aims to develop and enhance the volume of foreign trade because of its pivotal role in advancing local economic activity by increasing the volume of exports and creating promising development opportunities for various productive sectors.

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The Minister of Finance chairs a session to discuss the strategic vision for the oil sector

The Minister of Finance chairs a session to discuss the strategic vision for the oil sector
Part of the meeting chaired by the Minister of Finance, Ali Allawi
 

Mubasher: The Iraqi Minister of Finance, Ali Abdul-Amir Allawi, chaired, today, Wednesday, the meeting of the thirteenth session of the committee for preparing the federal general budget strategy for the medium term 2022-2024, in the presence of the Prime Minister’s advisors, the undersecretaries of the ministries of finance and health, the ministry’s advisor, its general managers, and the relevant ministries.

 

The Ministry of Finance said, in a statement, that during the meeting, they completed the discussion of the future strategic vision for the oil sector presented by the Ministry of Oil, which includes ways to develop the sector and enhance its capabilities to increase levels of production capacities with the aim of raising the volume of oil revenues to supplement future budget projects in order to meet the objectives of the economic development process. .

The meeting discussed the completion of the Ministry of Health report on the ministry’s vision and strategy aimed at developing the efficiency of the health sector and overcoming the challenges that stand against advancing the health sector, in line with the increasing need for health care and improving the quality of health services provided to citizens, in addition to strengthening efforts to confront the challenges of the Corona virus. .

The meeting also included the completion of the discussion of the report of the Ministry of Commerce on its future vision aimed at developing and enhancing the volume of foreign trade. Because of its pivotal important role in advancing local economic activity by increasing the volume of exports and creating promising development opportunities for various productive sectors .

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A new comment from the government regarding changing the dollar exchange rate

Economie| 08:04 - 10/07/2021

https://www.mawazin.net/Details.aspx?jimare=160056

 

Baghdad - Mawazine News
, the economic advisor to the Prime Minister, Alaa Abdel Hussein, spoke today, Saturday, about the government's vision to address the change in the exchange rate of the dollar against the Iraqi dinar, especially with regard to its effects on investment projects, while stressing that there are 3 reasons preventing the change now.
Abdul Hussein said, "With regard to investment projects in the beginning and the issue of the exchange rate, many of the materials that contractors enter to work are imported from abroad, and cost accounts and previous contracts are fixed at the old exchange rate, especially contracts that take a long time."
He added, "The vision of the treatment is more comprehensive than being money or seeing the exchange rate, and it is implemented as a development project, as the problem of the exchange rate difference, if not addressed, will lead to project disruption, erosion of the achievement, delay in development and the benefit that comes from the project," noting that "the treatment It comes from the perspective that there are projects we are waiting for completion, and by completing them, the benefit of the people will be achieved, and therefore the main and supreme goal is treatment in order to hasten the benefits derived from these projects for the people.”
He explained that "the projects were divided into a number of sections according to their type, including construction projects, electrical and metal projects, and others, and each type of them contains materials imported from abroad, and therefore the percentages were determined based on the price changes that occurred, and then work is done on the treatment." He stressed that "prices did not change because of the exchange rate only, but prices at the global level changed, and the reason for this is the increase in demand as a result of the Corona pandemic, as the world stopped and this led to all countries depleting their stocks of materials in addition to their monthly consumption, which led to an increase in demand to cover its strategic stocks and its monthly consumer demand.
He continued: "If we look at the increase in demand with the stability of the production capacity of factories in the world, we find that this led to a general rise in all prices globally, and therefore the price change did not come as a result of changing the exchange rate in Iraq, but rather at the world level."
And he indicated that "within the foreseeable future, the exchange rate cannot be reconsidered for several reasons, including firstly that the exchange rate is a prerogative of the Central Bank, and secondly that the current rate was approved in the budget law and is valid, in addition to a third reason is that all revenues derived from Oil, even if it increases, will only be able to cover the budget deficit of about 30 trillion dinars, and therefore we do not expect to guarantee oil prices for the next six months, and it is dangerous to think about dealing with the exchange rate.”
Regarding the budget for the next four years, Abdul Hussein said, “The Minister of Finance, Ali Abdul Amir Allawi, heads a committee of various ministries and government agencies to develop general strategies for the budget of the next years 2022 to 2024, and the broad outlines are not yet clear as far as the ministries’ budget is discussed in light of The priorities set by the Iraqi state.” Ended 29 / h

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37 minutes ago, 6ly410 said:

A new comment from the government regarding changing the dollar exchange rate

Economie| 08:04 - 10/07/2021

https://www.mawazin.net/Details.aspx?jimare=160056

 

Baghdad - Mawazine News
, the economic advisor to the Prime Minister, Alaa Abdel Hussein, spoke today, Saturday, about the government's vision to address the change in the exchange rate of the dollar against the Iraqi dinar, especially with regard to its effects on investment projects, while stressing that there are 3 reasons preventing the change now.
Abdul Hussein said, "With regard to investment projects in the beginning and the issue of the exchange rate, many of the materials that contractors enter to work are imported from abroad, and cost accounts and previous contracts are fixed at the old exchange rate, especially contracts that take a long time."
He added, "The vision of the treatment is more comprehensive than being money or seeing the exchange rate, and it is implemented as a development project, as the problem of the exchange rate difference, if not addressed, will lead to project disruption, erosion of the achievement, delay in development and the benefit that comes from the project," noting that "the treatment It comes from the perspective that there are projects we are waiting for completion, and by completing them, the benefit of the people will be achieved, and therefore the main and supreme goal is treatment in order to hasten the benefits derived from these projects for the people.”
He explained that "the projects were divided into a number of sections according to their type, including construction projects, electrical and metal projects, and others, and each type of them contains materials imported from abroad, and therefore the percentages were determined based on the price changes that occurred, and then work is done on the treatment." He stressed that "prices did not change because of the exchange rate only, but prices at the global level changed, and the reason for this is the increase in demand as a result of the Corona pandemic, as the world stopped and this led to all countries depleting their stocks of materials in addition to their monthly consumption, which led to an increase in demand to cover its strategic stocks and its monthly consumer demand.
He continued: "If we look at the increase in demand with the stability of the production capacity of factories in the world, we find that this led to a general rise in all prices globally, and therefore the price change did not come as a result of changing the exchange rate in Iraq, but rather at the world level."
And he indicated that "within the foreseeable future, the exchange rate cannot be reconsidered for several reasons, including firstly that the exchange rate is a prerogative of the Central Bank, and secondly that the current rate was approved in the budget law and is valid, in addition to a third reason is that all revenues derived from Oil, even if it increases, will only be able to cover the budget deficit of about 30 trillion dinars, and therefore we do not expect to guarantee oil prices for the next six months, and it is dangerous to think about dealing with the exchange rate.”
Regarding the budget for the next four years, Abdul Hussein said, “The Minister of Finance, Ali Abdul Amir Allawi, heads a committee of various ministries and government agencies to develop general strategies for the budget of the next years 2022 to 2024, and the broad outlines are not yet clear as far as the ministries’ budget is discussed in light of The priorities set by the Iraqi state.” Ended 29 / h

Sounds like a lot of b.s to me.. 

This part-

 

"the exchange rate cannot be reconsidered for several reasons, including firstly that the exchange rate is a prerogative of the Central Bank, and secondly that the current rate was approved in the budget law and is valid, in addition to a third reason is that all revenues derived from Oil, even if it increases, will only be able to cover the budget deficit of about 30 trillion dinars."

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Al-Kazemi’s advisor: 3 reasons that prevent us from adjusting the dollar exchange rate again
 
Saturday 10 July 2021 - 19:08
 
[[article_title_text]]
Economic Adviser to the Prime Minister, Alaa Abdel Hussein
Baghdad (NAS) -  The Economic Adviser to the Prime Minister, Alaa Abdel Hussein, spoke today, Saturday, about the government's vision to address the issue of the dollar exchange rate against the Iraqi dinar, and its effects on investment projects, while identifying 3 reasons that prevent the exchange rate from being modified again.    
 
Abdel-Hussein said, in a statement to the official agency, followed by “Nass” (July 10, 2021), that “with regard to investment projects and the issue of the exchange rate, many of the materials that contractors enter for work are imported from abroad, and cost accounts and previous contracts are fixed at the old exchange rate, Especially the projects that take a long time.  
 
He added, "The vision of the treatment is more comprehensive than being money or seeing the exchange rate, and it is applied as a development project, as the problem of the exchange rate difference, if not addressed, will lead to project disruption, erosion of the achievement, delay in development and the benefit that comes from the project," pointing out that "the treatment It comes from the perspective that there are projects we are waiting for completion, and by completing them, the benefit of the people will be achieved, and therefore the main and supreme goal is treatment in order to hasten the benefits derived from these projects for the people.”  
 
He explained that "the projects were divided into a number of sections according to their type, including construction projects, electrical and metal projects, and others, and each type of them contains materials imported from abroad, and therefore the percentages were determined based on the price changes that occurred, and then work is done on the treatment." He stressed that "prices did not change because of the exchange rate only, but prices at the global level changed, and the reason for this is the increase in demand as a result of the Corona pandemic, as the world stopped and this led to all countries depleting their stocks of materials in addition to their monthly consumption, which led to an increase in demand to cover its strategic stocks and its monthly consumer demand.  
 
He continued: "If we look at the increase in demand with the stability of the production capacity of factories in the world, we find that this led to a general rise in all prices globally, and therefore the price change did not come as a result of changing the exchange rate in Iraq, but rather it came at the world level."  
 
And he indicated that "within the foreseeable future, the exchange rate cannot be reconsidered for several reasons, including firstly that the exchange rate is a prerogative of the Central Bank, and secondly that the current rate was approved in the budget law and is valid, in addition to a third reason is that all revenues derived from Oil, even if it increases, will only be able to cover the budget deficit of about 30 trillion dinars, and therefore we do not expect to guarantee oil prices for the next six months, and it is dangerous to think about dealing with the exchange rate.”  
 
Regarding the budget for the next four years, Abdul Hussein said, “The Minister of Finance, Ali Abdul Amir Allawi, heads a committee of various ministries and government agencies to develop general strategies for the budget of the next years 2022 to 2024, and the broad outlines are not yet clear as far as the ministries’ budget is discussed in light of The priorities set by the Iraqi state. 
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10 minutes ago, horsesoldier said:

Just pathetic 

Yup. A bunch of duschbag losers. This isnt going to RV   sorry to piss on everyones parade but do you really think its going to happen? I mean come on now these duschbags have been f'n around for years. And you all still think it's going to happen,,,,,,ooooo but it's all smoke and mirrors ( not ).... well from what I read and all the stuff posted tells me different,,,,, it's not going to RV. This is the value of their dinar and either you believe the hype or you dont. Like i said i pissed on your parade. Sorry.    Even Adam isnt posting his chats like he use to., I figure he has lost his confidence in this thing RV'ing.   Ya you can give me all the negatives you want I DONT CARE.  And before you ask why am I still here. I guess it's to tell you how I feel.  And I have some free time. If you dont like it ( I DONT CARE ) dont read my post MOVE ON.  Your negatives or your positives means nothing to me.  YES NOTHING TO ME. NOTHING NADA ZILCH 

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45 minutes ago, Engine1 said:

Yup. A bunch of duschbag losers. This isnt going to RV   sorry to piss on everyones parade but do you really think its going to happen? I mean come on now these duschbags have been f'n around for years. And you all still think it's going to happen,,,,,,ooooo but it's all smoke and mirrors ( not ).... well from what I read and all the stuff posted tells me different,,,,, it's not going to RV. This is the value of their dinar and either you believe the hype or you dont. Like i said i pissed on your parade. Sorry.    Even Adam isnt posting his chats like he use to., I figure he has lost his confidence in this thing RV'ing.   Ya you can give me all the negatives you want I DONT CARE.  And before you ask why am I still here. I guess it's to tell you how I feel.  And I have some free time. If you dont like it ( I DONT CARE ) dont read my post MOVE ON.  Your negatives or your positives means nothing to me.  YES NOTHING TO ME. NOTHING NADA ZILCH 

But you didn't sell your dinar, did you?

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5 hours ago, Engine1 said:

Yup. A bunch of duschbag losers. This isnt going to RV   sorry to piss on everyones parade but do you really think its going to happen? I mean come on now these duschbags have been f'n around for years. And you all still think it's going to happen,,,,,,ooooo but it's all smoke and mirrors ( not ).... well from what I read and all the stuff posted tells me different,,,,, it's not going to RV. This is the value of their dinar and either you believe the hype or you dont. Like i said i pissed on your parade. Sorry.    Even Adam isnt posting his chats like he use to., I figure he has lost his confidence in this thing RV'ing.   Ya you can give me all the negatives you want I DONT CARE.  And before you ask why am I still here. I guess it's to tell you how I feel.  And I have some free time. If you dont like it ( I DONT CARE ) dont read my post MOVE ON.  Your negatives or your positives means nothing to me.  YES NOTHING TO ME. NOTHING NADA ZILCH 

Actually, my Parade is still going strong! Whether Adam comes on to Post or Not, whether the News is more negative than positive or not, and whether you stay at this site to incite or rile people up like a band of criminals burning down or defend the police or whatever you believe it is you're trying to do......It ain't Working (LOL). Fact of the matter is, leading the charge of my parade is Jesus,ahead of the Red, White and Blue, all American 'Old Glory'. Like it or lump it. My parade has American High School bands, Drum and Bugle Corps, Boy and Girl Scouts, Military units, and a few Clowns....which I suspect you snuck in as one. However, once again it is proven One Monkey.....don't stop no show....(or clown). No one promised you an RV or RI......if you want to leave feel free....this is America......you're free to leave. If you chose to stick around and spread poison. Just remember....the Bible does teach that if we drink any deadly thing, it shall not Harm us. You may drink your own poison if you like. Jim Jones kool-aid has no effect here. Consider yourself.....dismissed! 

Before you begin, I do love my neighbor as myself, therefore....my love to and for you is extended but an open rebuke is better than Secret Love. 

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Iraq.. The Minister of Finance stresses the speedy implementation of health projects and accelerating their entry into service

Iraq.. The Minister of Finance stresses the speedy implementation of health projects and accelerating their entry into service
The Minister of Finance chairs the fourteenth session of the committee for preparing the budget strategy for the years 2022-2024
 

Mubasher: The Iraqi Minister of Finance, Ali Abdul-Amir Allawi, chaired, today, Thursday, the meeting of the fourteenth session of the committee for preparing the federal general budget strategy for the medium term 2022-2024, in the presence of the Prime Minister’s advisors, the minister’s advisor, and general managers of the ministry and relevant ministries at the ministry’s headquarters.

 

Allawi stressed, according to a statement by the Information Office of the Ministry of Finance, giving priority to the implementation of health facilities projects under construction and accelerating their entry into service.

During the meeting, Allawi pointed to the need to focus and redouble efforts and energies towards enhancing and developing the efficiency of health and social care in accordance with international standards, given that the health and social care sectors are among the sectors closest to citizens.

The session discussed the strategic plan of the Ministry of Labor/Social Protection Authority for the years 2022-2024 related to the requirements for implementing the Social Welfare Development Program; With the aim of raising the level of its performance and improving the quality of services provided to a wide segment of the Iraqi people.

During the session, the report submitted by the Ministry of Health and Environment regarding the strategic vision for developing the health and environmental sector for the years 2022-2024 was discussed .

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The Minister of Finance chairs the session of the committee to prepare the budget strategy for the years 2022-2024

915848-e05444ce-b672-48f7-9915-a883493ed
Baghdad / NINA / - Minister of Finance Ali Abdul-Amir Allawi chaired today the meeting of the fourteenth session of the committee for preparing the federal general budget strategy for the medium term 2022-2024.

The Ministry of Finance stated in a statement that the National Iraqi News Agency / NINA / received a copy of it: “The session, which was held in the presence of the Prime Minister’s advisors, the minister’s advisor, and the general directors of the ministry and related ministries, is the strategic plan of the Ministry of Labor/Social Protection Authority for the years 2022-2024 related to the requirements for implementing The Social Welfare Development Program with the aim of raising the level of its performance and improving the quality of services provided to a large segment of the Iraqi people, and the report submitted by the Ministry of Health and Environment on the strategic vision for the development of the health and environmental sector for the years 2022-2024..



During the meeting, Allawi stressed the need to focus and redouble efforts and energies towards enhancing and developing the efficiency of health and social care in accordance with international standards, given that the health and social care sectors are among the sectors most closely aligned with citizens.

Allawi stressed giving priority to the implementation of health facilities projects under construction and accelerating their entry into service./ End 7
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  • 3 weeks later...

Parliamentary Finance clarifies the fate of the 2022 budget

  • SATURDAY, 07-31-2021,PM 6:47
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  • KARAR AL ASADI
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  • 691
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http://non14.net/public/images/large/8-1627746470.jpg

Today, Saturday, the Parliamentary Finance Committee issued a clarification on the fate of the 2022 budget, while indicating that it is the prerogative of the next parliament if the elections are held on schedule.

Committee member Jamal Cougar said in a press statement, "The next parliament will decide the fate of the 2022 budget if the elections are held on time, and delaying them will be a normal situation due to the timing between holding the elections and forming parliament, and so on."

He added, "Al-Kazemi's government will prepare next year's budget, but its approval will be among the powers of the new parliament, and its implementation will be for the next government, because Al-Kazemi's government will be a caretaker government if the elections are held."

He pointed out that "the government operates according to the 12 mechanism for the next year, as this system works in the event that there is no budget at all, but until the budget is approved, it will work with the terms of the 2021 budget on the operational side, while the investment will stop on December 31 of the current year 2021."

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What is the possibility of approving the 2022 budget before the elections.. A deputy speaks

political07:36 - 01/08/2021

 
image
 

 

Baghdad - Mawazine News
, a member of the Parliamentary Finance Committee, Muhammad Al-Shabki, confirmed on Sunday that the increase in oil prices will cover the budget deficit and the value of some loans, while specifying the extent of the possibility of approving the 2022 budget before the elections.
Al-Shabki told the official news agency, "The financial abundance from the increase in oil prices covers the deficit in the budget, and its value is estimated at 28 trillion dinars."
He added, "The Finance Committee, in its amendments to the 2021 budget text, suspended the appointment process and the rest of the financial expenditures to bridge the deficit," noting that "the difference between the price of a barrel of oil, which was approved in the budget at "45" dollars, and the current price through which the deficit can be filled and some loans".
With regard to the 2022 budget between the network that "
And he indicated that "the Ministry of Finance has meetings and continuous sessions, to reach a clear formula and indicators on the basis of which it formulates and presents the budget."
On the possibility of approving the 2022 budget before the parliamentary elections next October, Al-Shabki said that "it cannot be approved before the elections, given that the date of sending it to Parliament takes place in the same month."
He continued, "The holding of elections will stop the work of the current parliament, and therefore it will not be present to discuss the budget items." Ended 29/R77

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23252.jpg
Oil Minister Ihsan Abdul-Jabbar
  

 money and business


Economy News - Baghdad

The Minister of Oil, Ihsan Abdul-Jabbar Ismail, instructed, on Monday, to include the appointment of graduates of oil institutes in the next year's budget.

The ministry said in a brief statement seen by "Economy News", that "Minister Ihsan Abdul-Jabbar Ismail instructed the concerned departments in the ministry to include the clause of appointment or contract (ministerial contract) by oil companies with graduates of oil institutes for the academic year 2019/2020 and according to their need for specializations. Technical requirements, within the next year’s 2022 budget.

 
 
Views 101   Date Added 02/08/2021
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Parliamentary Finance rules out the existence of a budget for the next year..and explains the reasons
  
{Economic: Al Furat News} The decision of the Parliamentary Finance Committee, Ahmed Al-Saffar, expected that Iraq would not have a budget law for the next year 2022 in the event that early parliamentary elections were held.

Al-Saffar said in a press statement that "the federal government has formed a committee to prepare the draft federal general budget for the year 2022 in the General Budget Department of the Ministry of Finance, and the committee has started its work last month, but there is no information available so far about the arrival of the draft general budget law for the year 2022 to the House of Representatives." ".

He pointed out that "in the event of changes in the situation and the postponement of the elections, the 2022 budget bill will be sent to the House of Representatives for discussion."

Al-Saffar expected not to ratify the draft general budget law for the year 2022 in the House of Representatives as a result of holding the elections and being preoccupied with forming the new federal government, because the new House of Representatives will carry out its tasks and form the new government will take a year, according to his expectations.

Regarding the final accounts, the rapporteur of the Finance Committee said that "the House of Representatives and the Ministry of Finance do not have any information on the fate of the final accounts. No one knows the fate of the surplus from oil sales, and no one knows how the final accounts will be."

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23324.jpg
Member of the Finance Committee, Ahmed Al-Saffar
  

 money and business


Economy News - Baghdad

The Rapporteur of the Finance Committee in the House of Representatives, Ahmed Al-Saffar, expected that Iraq would not have a budget law for the next year (2022) in the event that early parliamentary elections were held, indicating that the fate of the surplus from oil sales and the final accounts law would be unknown.

Al-Saffar said in a statement reported by "Rudaw" and seen by "Al-Iqtisad News", that "the Iraqi federal government formed a committee to prepare the draft federal general budget for 2022 in the General Budget Department of the Ministry of Finance, and the committee started its work last month, but no information is available so far. On the arrival of the draft general budget law for the year 2022 to the House of Representatives.

The decision of the Parliamentary Finance Committee indicated that “in the event of changes in the situation and the postponement of the elections, the 2022 budget bill will be sent to the House of Representatives for discussion.” The new parliament, because the new parliament will assume its duties and form the new government will take a year, according to al-Saffar’s expectations.

Regarding the final accounts, the rapporteur of the Finance Committee said, "The House of Representatives and the Federal Ministry of Finance do not have any information on the fate of the final accounts. No one knows the fate of the surplus from oil sales, and no one knows how the final accounts will be."

 
 
Views 78   Date Added 04/08/2021
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A new statement from the Iraqi Minister of Finance about the budget, the dollar and oil..
 
 

  

Baghdad - people  

Iraqi Finance Minister Ali Allawi announced that the 2022 budget, which the ministry began preparing a few days ago, will have a reform dimension, stressing that the next year's version "is different from previous budgets" and reflects "the reality of Iraq's obligations."  

  

 

  

He explained in a statement followed by "Nass", Friday (August 6, 2021), that the ministry will seek to submit this new budget to Parliament before the early parliamentary elections scheduled for October, adding that it will be a "reform budget, but it may be politically difficult."  

He said that the ministry "tried in the previous budget to do a similar thing," as it "presented the budget in a way that shows officials the size of Iraq's real obligations without paying them in arrears corners, so the number was large and was not politically acceptable, so it was amended and the budget was issued" in its current form.  

By this, the minister most likely hinted at the difficulty of passing the new budget due to the high value of the deficit in it, as happened in the previous budget.

In the proposed 2021 budget bill, which the government submitted to Parliament, the value of the deficit was estimated at 49 billion dollars. But the deputies made up the difference by canceling debts and dues from the state in exchange for energy sources from the account, especially dues for Iranian gas and energy, and other payments for infrastructure.  

The value of the deficit in the 2021 budget, as approved by Parliament, amounted to 19.8 billion dollars, compared to 23.1 billion dollars in 2019, knowing that Iraq did not approve the 2020 budget due to political tension.  

The total value of revenues in the 2021 budget amounted to about 69.9 billion dollars, calculated based on the export of crude oil on the basis of a price of 45 dollars per barrel, and an export rate of three million and 250 thousand barrels per day. As for the value of the 2021 budget, it amounted to $89.7 billion, about 30% lower than the last budget approved in 2019.  

The minister explained that the price of a barrel in the new budget will be 50 dollars, which is an adjustable figure. However, the value of a barrel of oil in the market is currently much higher and exceeds sixty dollars.  

Iraq, the second largest oil producer in the Organization of the Petroleum Exporting Countries, is going through its worst economic crisis. The poverty rate in the country has doubled in 2020, and 40% of the population of 40 million is considered poor, according to the World Bank, while the Iraqi dinar has lost 25% of its value.  

Corruption, which has cost Iraq twice as much as its gross domestic product, or more than $450 billion, is the main concern of Iraqis who suffer from a lack of electricity, hospitals and schools.  

However, the minister said that Iraq's financial situation has improved this year due to "the rise in the price of oil and the change in the exchange rate of the dinar."  

Meanwhile, Iraq is negotiating with the International Monetary Fund on a loan amounting to between 3 to 4 billion dollars, as the minister explained, hoping to reach an agreement with the Fund by the end of the year.  

He explained that this "borrowing is of a monetary nature and gives credibility to the reforms" that the ministry wants to implement, and "their end depends on our current situation and the 2022 budget if we are able to present it to Parliament before the parliamentary elections."  

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  •  Time: 08/06/2021 13:08:09
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  •  Reading: 2,249 times
The Minister of Finance reveals important details of the 2022 budget
  
{Economic: Al Furat News} Finance Minister Ali Allawi announced that the 2022 budget, which the ministry began preparing a few days ago, will have a reform dimension, as it "differs from previous budgets" and reflects "the reality of Iraq's obligations," according to "AFP."
 

Allawi made it clear in statements to a group of journalists that the ministry will seek to submit this new budget to Parliament before the early parliamentary elections scheduled for October, adding that it will be a "reform budget, but it may be politically difficult."

He said that the ministry "tried in the previous budget to do a similar thing," as it "presented the budget in a way that shows officials the size of Iraq's real obligations without paying them in arrears corners, so the number was large and was not politically acceptable, so it was amended and the budget was issued" in its current form.

And Minister Allawi hinted that it is likely that it will be difficult to pass the new budget due to the high value of the deficit in it, as happened in the previous budget.

In the proposed 2021 budget bill, which the government submitted to Parliament, the value of the deficit was estimated at 49 billion dollars. But the deputies made up the difference by canceling debts and dues from the state in exchange for energy sources from the account, especially dues for Iranian gas and energy, and other payments for infrastructure.

The value of the deficit in the 2021 budget, as approved by Parliament, amounted to 19.8 billion dollars, compared to 23.1 billion dollars in 2019, knowing that Iraq did not approve the 2020 budget due to political tension.

The total value of revenues in the 2021 budget amounted to about 69.9 billion dollars, calculated based on the export of crude oil on the basis of a price of 45 dollars per barrel, and an export rate of three million and 250 thousand barrels per day. As for the value of the 2021 budget, it amounted to $89.7 billion, about 30% lower than the last budget approved in 2019.

The minister explained that the price of a barrel in the new budget will be 50 dollars, which is an adjustable figure. However, the value of a barrel of oil in the market is currently much higher and exceeds sixty dollars.

Iraq, the second largest oil producer in the Organization of the Petroleum Exporting Countries, is going through its worst economic crisis. The poverty rate in the country has doubled in 2020, and 40% of the population of 40 million is considered poor, according to the World Bank, while the Iraqi dinar has lost 25% of its value.

Corruption, which has cost Iraq twice as much as its gross domestic product, or more than $450 billion, is the main concern of Iraqis who suffer from a lack of electricity, hospitals and schools.

However, the minister said that Iraq's financial situation has improved this year due to "the rise in the price of oil and the change in the exchange rate of the dinar."

Meanwhile, Iraq is negotiating with the International Monetary Fund on a loan amounting to between 3 to 4 billion dollars, as the minister explained, hoping to reach an agreement with the Fund by the end of the year.

The Minister of Finance explained that this “borrowing is of a monetary nature and gives credibility to the reforms” that the ministry wants to implement, and that “the end of it depends on our current situation and the 2022 budget if we are able to present it to Parliament before the parliamentary elections.”

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Finance Minister: Raising next year's budget to Parliament before early elections

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Baghdad / NINA / - Minister of Finance Ali Allawi confirmed: "The ministry seeks to submit the new budget to Parliament before the early parliamentary elections scheduled for next October."

He said in a press statement: "The ministry tried in the previous budget to do a similar thing, as it presented the budget in a way that shows officials the size of Iraq's real obligations without paying them in the corners of arrears, so the number was large and was not politically acceptable, so it was modified and the budget was issued in its current form."

Allawi added: "The price of a barrel in the new budget will be 50 dollars, which is an adjustable number."

He explained: "The financial situation of Iraq has improved during the current year due to the rise in the price of oil and the change in the exchange rate of the dinar."

The Minister of Finance indicated: “Iraq is negotiating with the International Monetary Fund on a loan of between 3 to 4 billion dollars,” noting: “This borrowing is of a monetary nature and gives credibility to the reforms that the Ministry wishes to implement, the end of which depends on our current situation and the 2022 budget. If we are able to present it to Parliament before the parliamentary elections.”/ End 3
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  •  Time: 08/07/2021 08:34:46
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Finance announces the date for submitting the 2022 budget to Parliament
  
{Economic: Al Furat News} The Ministry of Finance announced, on Saturday, the date for submitting the federal budget for the next year, stressing that it will be reformist.

Finance Minister Ali Allawi said in a press statement, "The ministry seeks to submit the new budget to Parliament before the early parliamentary elections," noting that "the budget will be reformist, but it may be politically difficult."

He pointed out that "the difficulty of passing the new budget due to the high value of the deficit, as happened in the previous budget."

And Allawi said that "the financial situation of Iraq has improved during the current year due to the rise in the price of oil and the change in the exchange rate of the dinar."

He pointed out that "Iraq is negotiating with the International Monetary Fund on a loan worth between 3 to 4 billion dollars, hoping to reach an agreement with the Fund by the end of the year."

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11 hours ago, yota691 said:

He pointed out that "Iraq is negotiating with the International Monetary Fund on a loan worth between 3 to 4 billion dollars, hoping to reach an agreement with the Fund by the end of the year."

LMAO!!!! Oil at $70.00 a barrel and these worthless morons are still begging for money. 
I guess it’s hard not to blame them, if the WB and IMF keeps giving it to them why not. The same logic is being used here in the good ole USA…..

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A meeting between the Minister of Finance and Al-Kazemi’s advisors: Determining revenue ceilings and a plan for 4 governorates
 
 

  

Baghdad - people   

Finance Minister Ali Abdul-Amir Allawi discussed, on Sunday, defining and discussing ceilings for oil and non-oil revenues, during the sixteenth session of the committee for preparing the budget strategy for the years 2022-2024.  

  

 

  

A statement of the ministry, of which “Nass” received a copy, (August 8, 2021), stated that “the Minister of Finance, Ali Abdul-Amir Allawi, chaired today, Sunday, August 8, 2021 the sixteenth session of the committee for preparing the federal general budget strategy for the medium term 2022-2024, and in the presence of each of the head of the authority General to monitor the allocations of the federal ministries, the Undersecretary, the Prime Minister’s advisors, the Ministry’s advisor, and a number of the Ministry’s general directors.  

The statement added, "During the session, a comprehensive report was presented on the strategic plans for the governorates of (Babylon, Anbar, Dhi Qar and Wasit), and their future vision in the context of achieving economic development, activating the investment aspect in them, and supporting efforts to advance the service and infrastructure reality, provide job opportunities and reduce poverty levels in those governorates.  

The statement continued, "The meeting also discussed defining and discussing ceilings for oil and non-oil revenues, according to the report submitted by the head of the General Authority for Monitoring the allocations of the federal ministries."  

Minister Allawi stressed, according to the statement, "the importance of adopting mechanisms and systematic steps in accordance with scientific frameworks, including according to what was stated in the economic reform paper (white paper)."  

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Earlier, the Minister of Finance discussed the steps to amend the National Oil Company Law and the mechanisms for its development, while presiding over the fifteenth session of the committee for preparing the budget strategy for the years 2022-2024.  

The ministry said in a statement that “Nass” received a copy of it, (August 4, 2021), that “the Minister of Finance, Ali Abdul-Amir Allawi, chaired today, Wednesday, August 4, 2021, the meeting of the fifteenth session of the Committee for the Preparation of the Federal General Budget Strategy for the Medium Term 2022-2024, in the presence of: Head of the Public Authority for Monitoring Ministries’ Allocations, advisors to the Prime Minister, the two undersecretaries of finance and planning, the ministry’s advisor, and general managers in the ministry and the relevant ministries.    

The statement added, "During the session, the law of the National Oil Company and mechanisms for developing and enhancing its work functions were discussed in line with the vision and objectives of the economic and financial reform program, in addition to discussing the restructuring of the company according to modern and advanced foundations related to standards of efficiency, productivity and economic feasibility."    

He continued, "The report submitted by the Ministry of Commerce regarding its strategic vision related to the plan to revive foreign trade was followed up according to the priorities of the reform plan to revitalize the Iraqi economy and provide various stimulus development opportunities with positive returns to maximize public revenues for the next stage."    

 
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Finance discusses a 3-year budget... and the Parliamentary Committee: Its preparation is illogical and will leave
  
{Economist: Al Furat News} Minister of Finance Ali Allawi chaired today, Sunday, the sixteenth session of the committee for preparing the federal general budget strategy for the medium term 2022-2024.

A statement by the ministry stated that {Euphrates News} received a copy of it that "during the session, a comprehensive report was presented on the strategic plans for the governorates of (Babylon, Anbar, Dhi Qar and Wasit) and their future vision in the context of achieving economic development, revitalizing the investment side and supporting efforts to advance reality. services and infrastructure, providing job opportunities and reducing poverty levels in those governorates.”

The statement added, "The meeting also discussed determining the ceilings of oil and non-oil revenues and discussing them according to the report submitted by the head of the General Authority to monitor the allocations of the federal ministries."

Allawi stressed, "the importance of adopting mechanisms and systematic steps in accordance with scientific frameworks, including according to what was stated in the economic reform paper (the white paper)."

For its part, the Parliamentary Finance Committee considered the Ministry of Finance's discussion of the budget for the current year and the next two years as "illogical".

Committee member Shirwan Mirza told {Euphrates News}: "The parliament does not currently have regular sessions."

"We will actually engage in electoral propaganda next month, so there is no opportunity to discuss the 2022 budget, and most likely it will move to the next session," he added.

Mirza continued: "It is not logical for a government to prepare a budget for another government that should reflect the vision of the new government."

He pointed out, "The topic of studying and discussing the 2022 budget depends on holding the elections."

Raghad Daham

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