Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Parliamentary Finance: 50% of the articles of the 2021 budget have not been implemented


yota691
 Share

Recommended Posts

Financial management reform

Wednesday 05 May 2021 92

Financial management reform

 
Mustafa Muhammad Ibrahim
looks at the file of the financial administration in Iraq as one of the important files that must be focused on and it is not intended by the administrative position, but rather to employ the right person in the right place, i.e. (the financial manager) who leads his administration in the financial aspect in the correct manner and financial discipline in spending
This is what the country suffers after, which made Iraq suffer from a decline in financial management, despite its possession of a lot of financial, material and human resources, which make it better than it was now as a result of wasting financial resources, whether in operational or investment spending.
Correct and efficient financial management puts the institution in the development, continuous production and permanence of the institutional sector, so there is a set of reforms that must be taken to reform wasted, especially after the approval of the Budget Law No. (23) for the year 2021, as well as the implementation of the white paper prepared by the Ministry of Finance to reform the Iraqi economy For the next period, and among these reforms, the first of which is the prime minister's field tour to the ministries of finance and planning, and a meeting to reform financial management along the lines of his tour to the National Investment Commission, which made everyone demand such rounds.
There is a need to place the right person in the right place in the financial (executive) side, with knowledge of all the laws, instructions, and exchange sections of the corporation, and controlling consumer spending by the corporation by relying on itself, i.e. from its own resources.
Financial management reform requires the automation of the collection and spending units of all institutions, as well as the establishment of effective controls and procedures by the General Secretariat of the Council of Ministers regarding the purchase of some of the main requirements of the institution.
Although these trends reduce financial corruption and improve the financial management of institutions, the government’s approach to effective financial management remains required, and this confirms the occurrence of change within the institution from the financial side in order for it to run in a straight line. Studies and research confirm that undermining financial corruption and waste is financial mismanagement. It requires a serious and real pause to reform the financial system in all institutions, whether governmental or private, and that enhance the economic situation.  
  • Upvote 3
Link to comment
Share on other sites

The 2021 budget included the implementation of service projects

 
  Baghdad: Morning
 
MP Burhan Al-Mamouri discussed with the governor of Diyala Muthanna Al-Tamimi the governorate’s budget and the projects included in it within the regions ’development.
Al-Mamouri said in a statement received by "Al-Sabah": "The law stipulated the distribution of funds allocated to the governorate according to the population ratios for each district and district," adding that "the budget included the implementation of a large number of strategic infrastructure projects for the whole of the province in a fair manner, including water, sewage, paving and bridges." And a lot of other service activities. " He pointed out that "the Al-Khalis district will witness the launch of a major service campaign to implement water and sewage projects, rehabilitate electricity networks and pave the roads," noting that "the service projects will include Al-Hussein neighborhood, Al-Bayader neighborhood, Al-Khalis, Al-Khuwailis neighborhood, Al-Zahraa, Kashkin, Hebheb sub-district and Al-Aswad village, in addition to Jadidat Al-Shat, Al-Azim, Al-Salam and Mansouriya." Al-Jabal, the villages of Saadia Al-Shat, Abu Tamr, Abu Nakhl, the regions of Zanabur, Sindhi and Dujma, in addition to the Al-Attar neighborhood sewage project, paving roads, extending an electricity network, and constructing a water complex in Saif Saad and Al-Hadid.
He revealed that the House of Representatives would soon hold a meeting to finalize the projects and refer them to approval in preparation for their announcement and implementation.
  • Upvote 1
Link to comment
Share on other sites

  
%D8%A7%D9%84%D9%86%D9%81%D8%B7-1-696x391

The information / Baghdad ..
The Parliamentary Finance Committee revealed, on Wednesday, that there is no legal paragraph within the budget that obliges Kurdistan to deliver oil to SOMO, indicating that what will be implemented is the delivery of oil to Baghdad.
A member of the committee, Shirwan Mirza, said in a statement to / the information / that "the budget law does not contain any paragraph stipulating the delivery of oil by Kurdistan to the SOMO oil export company. Rather, what is in the budget is the delivery of oil."
Mirza added, "The budget states that the SOMO company determines that the oil required for the Kurdistan Regional Government is determined for each month, and after that the latter delivers the oil to the SOMO company."
He explained that "the federal government, and specifically the SOMO company, did not specify any Iqim oil for the Kurdistan region, and this is the main reason that led to the failure to implement the paragraph on the region in the budget."
Mirza explained, "The regional government has sent official books to the federal government to hold technical meetings and to determine the required amounts for delivery, but the federal government has not yet responded to the official books and has not specified any amounts for the exported oil."

  • Upvote 2
Link to comment
Share on other sites

Parliamentary Finance: SOMO did not specify any oil boom in the Kurdistan Region


 

5/5/2021 10:41:00

 
 
46407552021_179933425.jpg       
Parliamentary Finance: SOMO did not specify any oil boom in the Kurdistan Region

 

Today, Wednesday, the Parliamentary Finance Committee confirmed that the Kurdistan Region is not a reason for not implementing the articles related to its share in the Federal Budget Law for the year 2021.

Asim Jihad, spokesman for the Ministry of Oil, said during a press statement: The Oil Ministry has not yet received any quantities of Kurdistan Region oil within the provisions of the budget law.

Representative Shirwan Mirza, a member of the Parliamentary Finance Committee, said during a special statement to PUKmedia : The Budget Law does not contain any paragraph stipulating the delivery of oil by the Kurdistan Regional Government to the SOMO Oil Export Company. Rather, what is included in the budget is the delivery of oil.

He added: The budget stipulates that the SOMO company determines the amount of oil that is due on the Kurdistan Regional Government for each month, and after that the latter delivers that amount to the SOMO company.

He explained: The federal government, specifically SOMO, did not specify any activities for oil from the Kurdistan Region, and this is the main reason that led to the failure to implement the paragraph of the Kurdistan Region in the budget.

He said: The Kurdistan Regional Government has sent official books to the federal government to hold technical meetings and determine the required resignations, but the federal government has not yet responded to the official books and has not specified any amounts for the exported oil.

 

 

 

PUKmedia is special 

  • Thanks 2
  • Upvote 1
Link to comment
Share on other sites

Sufficient funds for contract employees' salaries

 

  Baghdad: Noor Al-Zaidi

 
Member of the Parliamentary Finance Committee, Muhammad al-Shabki, said: The 2021 budget allocated sufficient funds to cover the salaries of contract employees.
Al-Shabaki explained to “Conscious” that “the distribution mechanism is limited to ministries, as the matter is one of their duties, as the House of Representatives granted them the freedom to find appropriate mechanisms to cover all contracts,” indicating that “there is no statistic about the number of contracts and procedures.”
He added that "the committee has placed a legal article within the budget that prohibits the new contracting of ministries and provinces, and if there is a need for that, the old contractors can return."
Link to comment
Share on other sites


http://non14.net/public/images/large/8-1620132030.jpg

Today, Tuesday, the Ministry of Oil announced that the decision to reduce production has doubled Iraq's revenues to $ 6 billion, while indicating that it has not yet received any revenues from the Kurdistan region as part of the budget.

"The decision to reduce oil production, which was approved with the exporting countries, was aimed at controlling the price balance in world markets," said the ministry’s spokesman, Asim Jihad.

He added that "the goal of Iraq is to increase financial revenues, not quantity," noting that "increasing the quantity may lead to lower oil prices."

He explained that "Iraq is committed with other countries in specific quantities according to the schedules set by the research centers of the Organization of Petroleum Exporting Countries and OPEC Plus, which led to an increase in financial revenues," pointing out that "Iraq's revenues in the past were estimated at less than one billion dollars per month, but now in quantities Less production, the revenues reached 6 billion dollars, "according to the Iraqi News Agency.

He continued that "Iraq is the second largest producer in OPEC, and it is keen to adhere to the quotas established in order to control the balance of the oil market," explaining that "challenges still exist in the oil markets in the presence of the pandemic, and these are temporary measures that will disappear with the disappearance of the causes, and therefore." There must be concerted efforts to achieve the goals.

Jihad stressed that "any exception may lead to a drop in oil prices in the global markets, and any exit from the agreement could collapse the agreement and oil prices would fall back to less than $ 10," noting that "revenues are now good compared to the current situation."

Regarding the delivery of the quantities of exported oil to Kurdistan according to the budget, Jihad indicated that "the government submitted an objection to the budget paragraphs," indicating that "the Ministry of Oil has not yet received any quantities from the Kurdistan region as part of the budget items."

Link to comment
Share on other sites

Supplementary excluded ... Parliamentary Finance: Parliament will not debate the 2022 budget
  
{Economic: Al Furat News} A member of the Parliamentary Finance Committee has ruled out preparing a supplementary budget for the federal budget for the current year.
 

Committee member Shirwan Mirza said in a press statement, "The time is not enough to prepare and approve a supplementary budget," noting that "the elections will take place next October and there is no time to prepare and approve the supplementary budget." 

He added that "the date of holding the elections is in October {the tenth month}, meaning that the current parliament will not discuss the draft federal budget law for the next year as well."

The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, ruled last Tuesday that there will be a supplementary budget for this year due to the delay in approving the general budget.

Saleh said in a press statement, "I do not expect that there will be a supplementary budget, since the general budget has been disrupted a lot and it was approved a short time ago, and usually the budget must be approved at the beginning of the year, in order to know whether or not the country’s budget is completed, in order to know whether or not it is completed. No".

He added that "high oil prices do not necessarily mean that there is a supplementary budget, especially since the general budget is based on a deficit, and the price difference is better for the state to use than borrowing." Better financial revenue. "

And he indicated that "the state of the country determines this matter if there are projects that need implementation after they have been postponed and they are important, in addition to the existence of financial projects that are postponed."

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.

It is noteworthy that the Prime Minister, Mustafa Al-Kazemi, announced the government's intention to challenge some paragraphs of the budget to make amendments to them by Parliament, including a financial package.

 

  • Thanks 1
Link to comment
Share on other sites

In light of recovering oil prices, does Iraq need to borrow? .. Parliamentary Finance answers
 

  

Baghdad - People  

On Friday, the Parliamentary Finance Committee confirmed Iraq's need for internal and external loans within the 2021 budget.  

  

Committee member Muhammad al-Shabaki said in a statement to the official agency, followed by "Nass", (May 7, 2021), that "the estimation of internal and external loans in the 2021 budget was done after studies were conducted by the Ministries of Planning and Finance," indicating that "it was agreed on the need for Iraq." "For these loans after I met objections within the House of Representatives from some blocs that had a vision regarding Iraq not needing these loans."  

"Oil prices are still fluctuating, and it is not possible to build loans based on these prices," Al-Shibki added, pointing out that "the coming days and weeks may witness a decline in oil prices." 

  

 

  • Thanks 1
Link to comment
Share on other sites

  
%D8%B1%D9%88%D8%A7%D8%AA%D8%A82-696x435.

The information / Baghdad ..

Today, Friday, the Parliamentary Finance Committee confirmed Iraq's need for internal and external loans within the 2021 budget.

Committee member Muhammad al-Shabaki said in a special statement to the Iraqi News Agency (INA), that “the estimation of internal and external loans in the 2021 budget was done after studies were conducted by the Ministries of Planning and Finance,” indicating that “it was agreed that Iraq needs these loans after being met with objections. Within the House of Representatives from some of the blocs that had a vision related to Iraq not needing these loans.

"Oil prices are still fluctuating, and it is not possible to build loans based on these prices," Al-Shibki added, pointing out that "the coming days and weeks may witness a decrease in oil prices."

The Parliamentary Finance Committee had previously revealed the volume of internal and external borrowing in the 2021 budget.

  • Haha 2
Link to comment
Share on other sites

 
27426.jpg
 
  

 money and business


Economy News _ Baghdad

On Friday, a member of the Parliamentary Finance Committee, Muhammad al-Shabki, stressed Iraq's need again for internal and external loans within the 2021 budget.

Al-Shabaki said in a press interview, that "the estimation of internal and external loans in the 2021 budget was carried out after studies were conducted by the Ministries of Planning and Finance," noting that "it was agreed that Iraq needs these loans after I met objections within the House of Representatives from some of the blocs that had them." A vision related to Iraq not needing these loans. "

"Oil prices are still fluctuating, and it is not possible to build loans based on these prices," Al-Shibki added, pointing out that "the coming days and weeks may witness a decline in oil prices."

The Parliamentary Finance Committee had previously revealed the volume of internal and external borrowing in the 2021 budget.

 
 
Number of observations 46   Date added 05/07/2021
  • Haha 3
Link to comment
Share on other sites

I said this would happen about 3 months after the Rv didn't occur in January. These people are morons (GOI) it is getting to the point where Iraq will never amount to anything but what it is now. Once the Iraqi people are accustomed to the 1450 exchange rate they won't be in a hurry to do anything like they haven't in the last 18 years. The more I read these articles the more I believe they will prolong the RV because they are content. Whatever Iraq. As you can see there are fewer comments because people are feed up with this fiasco and the world will do the same. By the time they go international, 50% of the cars will be electric and their sweet crude will not be in such hi demand. What a waste. Thank God for Crypto because central banks want to keep the money at the top and starve the rest of the world. I don't know how far Crypto is going to go but people are making a substantial amount of money trading it and I am one of them. If Iraq doesn't Rv in early 2022 after Al-Khdemi wins the election (In October) and the New CBI is ready in (2022) I believe Iraq will be just like Vietnam. They will keep a low exchange rate low and does this make sense to me? Hell No! but nothing has made sense about Iraq in the last 18 years anyway. Sometimes religion make people stupid and poor and this is a perfect example!!  

  • Thanks 2
Link to comment
Share on other sites

11 hours ago, yota691 said:
 
27426.jpg
 
  

 money and business


Economy News _ Baghdad

On Friday, a member of the Parliamentary Finance Committee, Muhammad al-Shabki, stressed Iraq's need again for internal and external loans within the 2021 budget.

Al-Shabaki said in a press interview, that "the estimation of internal and external loans in the 2021 budget was carried out after studies were conducted by the Ministries of Planning and Finance," noting that "it was agreed that Iraq needs these loans after I met objections within the House of Representatives from some of the blocs that had them." A vision related to Iraq not needing these loans. "

"Oil prices are still fluctuating, and it is not possible to build loans based on these prices," Al-Shibki added, pointing out that "the coming days and weeks may witness a decline in oil prices."

The Parliamentary Finance Committee had previously revealed the volume of internal and external borrowing in the 2021 budget.

 
 
Number of observations 46   Date added 05/07/2021

This article is full of hot air, there’s no need to borrow, it’s Iranian influence in parliament putting this garbage out in the news.

  • Pow! 2
Link to comment
Share on other sites

Parliamentary Finance: Iraq needs internal and external loans to suppor t the 2021 budget

Parliamentary Finance: Iraq needs internal and external loans to support the 2021 budget
Parliamentary Finance in Iraq: Oil prices fluctuate and cannot be relied upon to determine the size of borrowing in the 2021 budget
 

Mubasher: The Parliamentary Finance Committee in Iraq confirmed that the country needs internal and external loans to support the 2021 budget.

 Muhammad al-Shabaki, a member of the committee, said in a statement to the Iraqi News Agency, "INA", today, Friday, that the estimation of internal and external loans in the 2021 budget was carried out after studies were conducted by the Ministries of Planning and Finance.

He stated, that it was agreed that Iraq needs these loans after objections were met within the House of Representatives from some blocs that had a vision regarding Iraq not needing these loans.

Al-Shbaki added that oil prices are still fluctuating, and it is not possible to build loans based on these prices, pointing out that the coming days and weeks may witness a decrease in oil prices.

The Parliamentary Finance Committee had previously revealed the volume of internal and external borrowing in the 2021 budget.

The head of the Parliament's Finance Committee, Haitham al-Jubouri, said at the time that the total of new borrowing in the 2021 external budget amounted to more than two billion dollars as a ceiling, but as a real borrowing, it does not exceed 350 million dollars.

Al-Jubouri added, "As for the internal debt, it will not exceed 5 trillion from the central bank when needed."

  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

Parliamentary Finance warns against borrowing for non-important sectors

 
 Baghdad: Muhannad Abdul-Wahhab
 
The Parliamentary Finance Committee warned that borrowing other than important sectors such as electricity and health will shackle the country in the future, indicating that the high oil prices have brought Iraq a financial abundance that it can exploit without going to borrow from banks and international institutions with sovereign guarantees.
Committee member Muhammad al-Shabaki said in an interview with “Al-Sabah”: “After the rise in oil prices, Iraq will no longer need external loans because it will be a burden to the national economy,” indicating that “electricity loans reached 8 trillion dinars in the 2021 budget.
He added, “The loans related to the Ministry of Electricity are not permanent loans but are related to production, distribution, and transportation, and therefore the Al-Fateh Alliance had a problem with these loans after the meeting of the heads of the blocks and identified them with two points. Finance ».
He pointed out that "the second point included a question about these loans; Are they for sober and global companies, and it turns out that they are given to sober companies like (General Electric) and (Siemens).
 
 
 
  • Upvote 1
Link to comment
Share on other sites

2,051 Views
 
 

Today, Saturday, the Ministry of Planning revealed the size of the sums required to conduct the general population census in Iraq for the year 2021.


The ministry spokesman said, Abdul Zahra Al-HindawiIn press statements, there are two main reasons standing for the conduct of the general population census in Iraq First, there is no financial allocation, as the ministry needs 120 billion dinars to start implementing the population census, and this amount has not been allocated in the budgets of 2020 and 2021.
 
 
 
As for the other reason, Al-Hindawi stated, “The emergence of a pandemic Corona negative effects also stood in the way of carrying out the census on time in 2020 ين, indicating that “conducting the census requires 150,000 meters to visit families, and in this matter there are health precautions that are not compatible with safety and health prevention measures.”
Al-Hindawi pointed out that “the number of inhabitants Iraq Until the year 2020, it reached forty million, one hundred and fifty thousand people, depending on the base year of 2010, in which the numbering and counting process was carried out, with an annual increase of one million people annually.
He pointed out that "the aim of the census is to identify complete and comprehensive data to draw up the state's general development policies and plans."
  • Upvote 1
Link to comment
Share on other sites

calendar.png 05/08/2021
 
views.png 193
 
 


Baghdad / Al-Mawred News

 

Today, Saturday, the Parliamentary Finance Committee revealed the reason for the delay in launching bonuses and promotions, and while it indicated that there is a problem in the distribution of expenditures to ministries by the Ministry of Finance, it confirmed the submission of a government challenge to the budget voted in by Parliament due to the reduction of its value.

Committee member Majid Al-Waili said, "The Council of Ministers lodged an appeal against the budget law before the Federal Court, believing that there is a problem in the allocations after reducing them," explaining that "the government presented a budget of 164 trillion dinars, and the Finance Committee reduced it to 130 trillion."

Al-Waeli added, "This difference in the reduction has affected many allocations, including promotions and employee bonuses, as the government believes," noting that "the financial committee had the original expense for the year 2020, and we did not want to expand unnecessary expenditures."

He pointed out that "the government is awaiting appeal from the court in order to decide on all these matters."

He pointed out that "the ministries of electricity and the interior issued official books confirming that there is a problem with salaries, and the Ministry of Finance, in turn, replied that there are 500 billion in which there is authority to transfer and fill the shortfall in compensation for employees' salaries." But in general, there is a problem in allocating expenditures to ministries by the Ministry of Finance. "

He warned, "Parliamentary Finance gave a table of total operational expenditures that contains additional operational expenditures, and contains investment and capital expenditures, and has given authority to the Ministry of Finance to redistribute the allocations to each of the ministries according to the chapters in it," noting that "the Ministry of Finance has obtained it." Confusion as to why bonuses and promotions have not been released yet.

  • Upvote 1
Link to comment
Share on other sites

Al Rasheed Bank directs a number of its branches to work on Saturday for this purpose 

  •  Time: 05/09/2021 11:02:15 
  •  
  •  Read: 6,903 times 
Al Rasheed Bank directs a number of its branches to work on Saturday for this purpose
  
{Economical: Al Furat News} The Rasheed Bank directed, on Sunday, to allocate a number of its branches to open their doors on Saturday of every week. 

"The opening of the branches came in order to provide the payment of dues to the offices (outlets) and to receive the petroleum products," the bank’s media office said in a statement. 

He added, "The branches are:

1- Baghdad (Al-Bayaa / Al-Yarmouk / The Twentieth Revolution / Al-Imam Al-Azam)  
2- Babylon (Hilla) Branch 
3- Karbala (Hussein) 
4- Najaf (Rawda) 
5- Diwaniyah (Euphrates) 
6- Muthanna (Samawah) 
7- Wasit (Wasit) ( 
8- Maysan (Dignity) 
9- Tamim (June 1) 
10- Dhi Qar (Arado) 
11- Basra (Zubair / Qurna / Al Thawrah Street)  
12- Anbar (Haditha / Hit / Amiriyat Al Fallujah) 
13- Salahuddin (Shishin / Samarra) 
14- Diyala (Ashnona / Khanaqin) 
15- Nineveh Al-Jazirah)

Hazem

Link to comment
Share on other sites

Just now, Wheelman said:

Al Rasheed Bank directs a number of its branches to work on Saturday for this purpose 

  •  Time: 05/09/2021 11:02:15 
  •  
  •  Read: 6,903 times 
Al Rasheed Bank directs a number of its branches to work on Saturday for this purpose
  
{Economical: Al Furat News} The Rasheed Bank directed, on Sunday, to allocate a number of its branches to open their doors on Saturday of every week. 

"The opening of the branches came in order to provide the payment of dues to the offices (outlets) and to receive the petroleum products," the bank’s media office said in a statement. 

He added, "The branches are:

1- Baghdad (Al-Bayaa / Al-Yarmouk / The Twentieth Revolution / Al-Imam Al-Azam)  
2- Babylon (Hilla) Branch 
3- Karbala (Hussein) 
4- Najaf (Rawda) 
5- Diwaniyah (Euphrates) 
6- Muthanna (Samawah) 
7- Wasit (Wasit) ( 
8- Maysan (Dignity) 
9- Tamim (June 1) 
10- Dhi Qar (Arado) 
11- Basra (Zubair / Qurna / Al Thawrah Street)  
12- Anbar (Haditha / Hit / Amiriyat Al Fallujah) 
13- Salahuddin (Shishin / Samarra) 
14- Diyala (Ashnona / Khanaqin) 
15- Nineveh Al-Jazirah)

Hazem

Like I Said.

Baghdad Don’t Need To Borrow Money 💰💰💰💰💰💰💰💰

Link to comment
Share on other sites

On 5/7/2021 at 1:13 PM, GreedyDinar07 said:

I said this would happen about 3 months after the Rv didn't occur in January. These people are morons (GOI) it is getting to the point where Iraq will never amount to anything but what it is now. Once the Iraqi people are accustomed to the 1450 exchange rate they won't be in a hurry to do anything like they haven't in the last 18 years. The more I read these articles the more I believe they will prolong the RV because they are content. Whatever Iraq. As you can see there are fewer comments because people are feed up with this fiasco and the world will do the same. By the time they go international, 50% of the cars will be electric and their sweet crude will not be in such hi demand. What a waste. Thank God for Crypto because central banks want to keep the money at the top and starve the rest of the world. I don't know how far Crypto is going to go but people are making a substantial amount of money trading it and I am one of them. If Iraq doesn't Rv in early 2022 after Al-Khdemi wins the election (In October) and the New CBI is ready in (2022) I believe Iraq will be just like Vietnam. They will keep a low exchange rate low and does this make sense to me? Hell No! but nothing has made sense about Iraq in the last 18 years anyway. Sometimes religion make people stupid and poor and this is a perfect example!!  

Parliament warns against borrowing: Iraq has an abundance of finances 

  •  Time: 05/09/2021 10:15:43 
  •  
  •  Read: 3,380 times 
Parliament warns against borrowing: Iraq has an abundance of finances
  
{Economic: Al Furat News} The Finance Committee in the House of Representatives has warned that borrowing other than important sectors such as electricity and health will shackle Iraq in the future, indicating that the high oil price has achieved Iraq a financial abundance that it can exploit without going to borrow from banks and international institutions with sovereign guarantees. 

Committee member Muhammad al-Shabaki said in a press interview, that “after the rise in oil prices, Iraq will no longer need external loans because they will be tied to the national economy,” indicating that “electricity loans amounted to 8 trillion dinars in the 2021 budget.

He added, “The loans that relate to the Ministry of Electricity are not permanent loans but are related to production, distribution and transportation. Consequently, the Al-Fateh Alliance had a problem with those loans after the heads of the blocks met and determined them with two points. Financial. "

He pointed out that “the second point included a question about these loans, and whether they are for sober and global companies, and it turns out that they are given to sober companies such as (General Electric) and (Siemens)."

 

 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.