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


yota691
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1 hour ago, Laid Back said:

Agreed Laid Back, have you noticed everyone talking about it but the department that actually makes the policy. 
Can’t help but laugh at these people making the comments, forever employees, economists and others with an opinion. 
I can only assume that these statements are made for the masses of Iraq with little knowledge of how and who makes policy of their currency.

If the governor of the CBI were to come out tomorrow and say the exchange of the Dinar won’t change in 2022 I wouldn’t believe him either…

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9 hours ago, Longtimelurker said:

"He added, "The current government, which prepared the 2022 budget, has not developed any plans to reduce the exchange rate after the benefits it achieved from raising it at the end of last year, and therefore the exchange rate will remain unchanged without any.."

 

"The CURRENT government"

 

I like this wording... We have a new govt coming in very soon. A great way for the new government to be trusted and appreciated would be to give purchasing power back to the Iraqis by reinstating the currency!

i love the wording as well....

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  Morning: Kazem Al-Hinnawi
It is hoped that the draft budget law for the year 2022 will bring a set of developments, with regard to customs duties, as the stakes in the new budget relate mainly to the protection of local production, through increasing taxes on imported goods, and the application of the consumer economic indicator, which is prepared to measure changes in the general level of prices Consumer goods and services obtained by families, which are considered luxury goods, so that the state has a financial reserve to help it when oil prices drop.
 
In this regard, Sobeih Al-Jabri (Director General at the Ministry of Commerce) suggested that “this is done through the cost of buying a specific basket of consumer goods and services, which families are not forced to buy, except in separate periods and are close to families’ spending and the nature of their living life within a year or during Another specific period, and through this indicator and the price level, we can raise taxes on those goods.”
He continued, "Between increases, reductions, and amendments to import duties applied to certain categories of products, the new budget bill can help raise the level of production of some products in the health, industry and energy sectors in the market."
local }.
He believed that "some of these measures, the abolition of exemptions, and raising taxes on imported luxury goods, tobacco, alcohol, and others, could provide resources for the state budget for 2022, which many economists are betting on the success of the next government by relying on high oil prices and the presence of another supporter, which is import taxes."
He stressed that {this is a prerequisite for the success of the budget and bearing the consequences of citizens' demands for many services and the completion of lagging projects, in the situation left by previous governments}.
He called for "imposing import duties on non-essential goods by canceling customs duties on the components of the local production of medicines and pharmaceutical products, after converting them, to the manufacture of local medicines, while reducing the import fee on medicines for chronic diseases, which must return to the state."
He added, "This measure will enable, according to the draft budget, to secure the local industry of medicines for chronic diseases, and thus ensure a regular supply to the market."
In the context of enhancing the success of the existence of electrical energy supporting the National Electric Power Company, economist Ali Abu Khamisi says: {There must be a law binding on the hours of supplying citizens by private generator owners, the prices of amperes, and the existence of fines known at the national level, not for the citizen to remain a hostage to the owners of generators.}
Abu Khamisi stressed, “If some measures are taken in this regard by the generators’ owners, the state and the Ministry of Electricity in particular get some money from deliberate waste, where an amount of two thousand dinars is added to each amp of generator owners, paid to the state and transferred to the national electricity.”
In line with these measures, Abu Khamisi proposed on the draft budget 2022 raising import duties on lamps, heating and air conditioning devices to 30%, to reduce 
consumption}.
"Since it is related to supporting local production with a final product that requires consumer support in order to be ready for consumption, we hope that the draft budget law for the year 2022 will be prepared to lift customs exemptions on many unjustified imported materials that are currently applied," he said, calling in his proposal to apply an import fee. 30% on all luxury products, medical preparations, tobacco and all kinds of alcohol.
He stressed the need for the draft budget to come with multiple measures to give a new impetus to economic activity in the wake of a stifling crisis for the local product, as a result of the repercussions of the Corona pandemic, and these new measures, although they are proposals that can be discussed, would ensure more independence for some branches of local production and develop Competitiveness of local companies and factories.
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On Monday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, ruled out a proposal to change the dollar exchange rate during the next budget, indicating that the 2022 budget is ready for voting.
Saleh said, during a press statement, that "all statements about changing the dollar exchange rate or returning to the previous price are incorrect, indicating that" the benefits of raising the dollar price are great and can never be neglected, and talking about changing the exchange rate has become a thing of the past.
He explained that "the speculative price of a barrel of oil will be in the 2022 budget by about $50, which is less than the expected global price, which amounts to $70 per barrel," noting that "the global price of oil depends on several global data, as well as the government's intention to raise non-revenue rates." oil and increasing dependence on it.
Saleh added, "The government will present the budget ready to Parliament as soon as the constitutional procedures for the elections are completed," noting that "the budget witnessed some changes until the number allocated to it is not very different from the 2021 budget."

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9 minutes ago, yota691 said:

On Monday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, ruled out a proposal to change the dollar exchange rate during the next budget, indicating that the 2022 budget is ready for voting.

Salih said there will be a rate change in the 2022 budget. Did i read that right? Please correct me if i am wrong.

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  •  Time: 12/13/2021 15:31:44
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Good news for employees in the 2022 budget
  
{Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed good news for employees in the financial budget for 2022.

Saleh told {Euphrates News}: "The 2022 budget law does not include any salary cuts or cuts," stressing that "salaries need a positive view to increase them."
He pointed out that "the general budget includes bonuses and job grades, and an openness to this matter because the rights of employees are protected in accordance with a legal text."
Saleh stressed that "if the budget is approved, it will be positive because of its great importance in the economy and a reason for stability."
Raghad Daham

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On 12/9/2021 at 11:03 PM, yota691 said:
 
  Morning: Kazem Al-Hinnawi
It is hoped that the draft budget law for the year 2022 will bring a set of developments, with regard to customs duties, as the stakes in the new budget relate mainly to the protection of local production, through increasing taxes on imported goods, and the application of the consumer economic indicator, which is prepared to measure changes in the general level of prices Consumer goods and services obtained by families, which are considered luxury goods, so that the state has a financial reserve to help it when oil prices drop.
 
In this regard, Sobeih Al-Jabri (Director General at the Ministry of Commerce) suggested that “this is done through the cost of buying a specific basket of consumer goods and services, which families are not forced to buy, except in separate periods and are close to families’ spending and the nature of their living life within a year or during Another specific period, and through this indicator and the price level, we can raise taxes on those goods.”
He continued, "Between increases, reductions, and amendments to import duties applied to certain categories of products, the new budget bill can help raise the level of production of some products in the health, industry and energy sectors in the market."
local }.
He believed that "some of these measures, the abolition of exemptions, and raising taxes on imported luxury goods, tobacco, alcohol, and others, could provide resources for the state budget for 2022, which many economists are betting on the success of the next government by relying on high oil prices and the presence of another supporter, which is import taxes."
He stressed that {this is a prerequisite for the success of the budget and bearing the consequences of citizens' demands for many services and the completion of lagging projects, in the situation left by previous governments}.
He called for "imposing import duties on non-essential goods by canceling customs duties on the components of the local production of medicines and pharmaceutical products, after converting them, to the manufacture of local medicines, while reducing the import fee on medicines for chronic diseases, which must return to the state."
He added, "This measure will enable, according to the draft budget, to secure the local industry of medicines for chronic diseases, and thus ensure a regular supply to the market."
In the context of enhancing the success of the existence of electrical energy supporting the National Electric Power Company, economist Ali Abu Khamisi says: {There must be a law binding on the hours of supplying citizens by private generator owners, the prices of amperes, and the existence of fines known at the national level, not for the citizen to remain a hostage to the owners of generators.}
Abu Khamisi stressed, “If some measures are taken in this regard by the generators’ owners, the state and the Ministry of Electricity in particular get some money from deliberate waste, where an amount of two thousand dinars is added to each amp of generator owners, paid to the state and transferred to the national electricity.”
In line with these measures, Abu Khamisi proposed on the draft budget 2022 raising import duties on lamps, heating and air conditioning devices to 30%, to reduce 
consumption}.
"Since it is related to supporting local production with a final product that requires consumer support system" rel="">support in order to be ready for consumption, we hope that the draft budget law for the year 2022 will be prepared to lift customs exemptions on many unjustified imported materials that are currently applied," he said, calling in his proposal to apply an import fee. 30% on all luxury products, medical preparations, tobacco and all kinds of alcohol.
He stressed the need for the draft budget to come with multiple measures to give a new impetus to economic activity in the wake of a stifling crisis for the local product, as a result of the repercussions of the Corona pandemic, and these new measures, although they are proposals that can be discussed, would ensure more independence for some branches of local production and develop Competitiveness of local companies and factories.

It is hoped that the draft budget law for the year 2022 will bring a set of developments, with regard to customs duties, as the stakes in the new budget relate mainly to the protection of local production, through increasing taxes on imported goods, and the application of the consumer economic indicator, which is prepared to measure changes in the general level of prices Consumer goods and services obtained by families, which are considered luxury goods, so that the state has a financial reserve to help it when oil prices drop. 

 

this has RV written all over it.....

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Al-Kazemi’s advisor reveals the date for legislating the 2022 budget
 
17/12/2021
Fiscal.jpg
Baghdad - Mawazine News
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Friday, that the legislation of the 2022 budget depends on the formation of the new government.
Saleh said, to the official news agency, that "the Iraqi fiscal year ends at the end of December 31, 2021, and the effective financial management law begins directly, that is, from the first day of January 2022, with spending at a rate of 1/12 of the actual ongoing expenditures for the year 2021." .
He added, "This will continue until the issuance of the Federal General Budget Law for the year 2022, at which point the allocations are modified according to the new entitlements included in the legislated budget," noting that "the legislation of the Budget Law for the year 2022 depends on the date of the formation of the government and the upcoming parliament in all cases. ". Ended 29/R77
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Information/Baghdad...

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Friday, that the legislation of the 2022 budget depends on the formation of the new government.
Saleh said, to the Iraqi News Agency (INA), that "the Iraqi fiscal year ends at the end of December 31, 2021, and the effective financial management law begins directly, that is, from the first day of January 2022 with spending at a rate of 1/12 of continuous actual expenses. for the year 2021.”
He added, "This will continue until the issuance of the Federal General Budget Law for the year 2022, at which point the allocations are modified and according to the new entitlements included in the legislated budget," noting that "the legislation of the budget law for the year 2022 depends on the date of the formation of the government and the upcoming parliament in all cases. 25 . finished

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A government condition for approving the 2022 budget: This is how Iraq's expenditures will be spent

 

4,414 Economie 12/17/2021 18:15 Baghdad today -

Baghdad The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Friday, that the legislation of the 2022 budget depends on the formation of the new government. Salih said, according to government media, that "the Iraqi fiscal year ends at the end of December 31, 2021, and the effective financial management law begins directly, that is, from the first day of January 2022 with spending at a rate of 1/12 of the actual ongoing expenditures for the year 2021." . He added, "This will continue until the issuance of the Federal General Budget Law for the year 2022, at which point the allocations are modified according to the new entitlements included in the legislated budget," noting that "the legislation of the Budget Law for the year 2022 depends on the date of the formation of the government and the upcoming parliament in all cases. ".

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11 hours ago, yota691 said:

that "the Iraqi fiscal year ends at the end of December 31, 2021, and the effective financial management law begins directly, that is, from the first day of January 2022

This is the best news ever....apart from rate change....kuwaits debt will be extinguished they have asked to be release from chapter 7? Wonder if the financial management law due to take affect is removes the currency auctions once and for all?... didnt the financial management law require a rate change? Didn’t the imf require them to change accounting systems and create fiscal space? 

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Today, Monday, Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, set a condition for achieving an actual balance in the 2022 budget without a deficit with the stability of the upcoming budget expenditures similar to the expenditures of the current year.
Saleh said that "the expectations of the World Bank, which was released in late October of last year, in which he set out his vision regarding the average oil prices in the world 2022, which he expected, would be about $74 per barrel on average throughout the next year, and also expected that they would decrease to an annual average." To reach $64 a barrel in 2023.
He added, "The estimated oil revenues of $50 in the draft law on the next year's budget 2022, which was prepared inevitably for a precautionary deficit, which may be less than the precautionary deficit shown in the 2021 budget, and assuming that the expenditure ceilings in the 2022 budget are similar to what they are in the 2021 budget, the budget The federal general for the year 2022 will achieve a state of actual balance (without any significant deficit),” noting that “this would be if the average price of a barrel of oil in 2022 exceeded, to be about 71-72 dollars per barrel, according to the reality of expected government spending and its ceilings.”

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Economist: Salaries are secured no matter how late the approval of the 2022 budget is delayed.. and warns of a "major catastrophe"
  
{Economic: Al Furat News} The economic expert, Hammam Al-Shamaa, confirmed that the salaries are fully secured, no matter how late the approval of the 2022 budget, while he warned of a major disaster, which he called "construction bonds."
 

Shammaa said; For the “State Dialogue” program broadcast by Al-Furat satellite channel tonight, it said: “So far, the budget is almost ready and prepared, but it will be presented to the House of Representatives as soon as it is formed, holding its first session, and choosing the President of the Republic and the Prime Minister.”
He added, "Early measures were taken to prepare the budget, regardless of what it contains, but it is absolutely certain, no matter how late the formation of the council is, the salaries are guaranteed regularly without problems, and it is customary to pay 1/12," noting that "the delay in disbursing salaries is due to the end of the fiscal year and the preparation of a new budget."
Al-Shamaa continued, "There are supposed to be final accounts, and the Minister of Finance is supposed to submit expenditure accounts for the 2021 budget, and economic recovery will depend on the selection of the three presidencies, especially the presidency of the government and the formation of the cabinet; but the insistence on keeping the current Finance Minister, whose concern was not reforming the economic situation As much as creating artificial problems and going to tighten the screws on the Iraqi people, especially the poor."
And if the government is changed and a new finance minister is chosen who does not believe in the white paper, which is a dream that does not come true in light of the economic crisis, we will witness a financial recovery for Iraqis, and any new government that is serious about fixing the defect created by the previous ministry will turn to effective measures in the interest of the citizen. . 
Al-Shamaa went on to say, "We follow the fixed exchange rate system in Iraq, and the Central Bank is not the one who made the decision to raise the price of the dollar, but based on a decision taken by the Minister of Finance, who threatened not to sell the dollar to the Central Bank, and thus he would suffer from a lack of liquidity. The second was lifted by a decision from him and in violation of The Central Bank Law is included in the white paper, which contains destructive ideas in light of the existing economic situation.
He pointed out, "The Central Bank had two options: either withdrawing the balance of foreign reserves or issuing a new currency, so the exported currency rose by 76 trillion, which could have led to the exhaustion of foreign reserves, and the improvement of the Iraqi economy by raising the exchange is incorrect, but it was achieved due to high oil prices."
Al-Shammaa explained, "Iraq suffers from the phenomenon of stagflation, and it is a state equipped with two contradictions (inflation and stagnation). The first came as a result of the rise in the exchange rate and the stagnation came to a decrease in the purchasing power of employees and the general public, the unemployment situation increased, the level of poverty rose, and the income of millions of the Iraqi people was below the poverty level, if we are talking about measures taken to deliberately destroy the Iraqi economy, not in good faith." 
He pointed out that "the exchange rate is a very sensitive issue, touching it in this way is a destruction of the Iraqi economy. We may commit a greater mistake than the crime that was committed when the Iraqi dinar was devalued. 
We have two fixed and compensated price systems, and we follow in Iraq, Jordan and the Gulf countries the fixed exchange rate because we have reserves." enough foreign currency to stabilize the exchange rate and lead to stabilizing the economic situation, credit and indebtedness, and encouraging private and foreign investment. 
Al-Shamaa added, "A crime was committed against the Iraqi economy, and the solution must be that there should be interest by the state in allocating trillions to employees and those affected by the vulnerable classes, and to eliminate stagnation, that is, the 24 trillion dinars that we obtained as a result of reducing the price of the dinar must allocate its equivalent to the happiness of the Iraqi people And compensate him for the damage,
by allocating 5 dollars outside the budget for the work of a fund in the Central Bank that finances the financing of activities.”   
He described the distribution of construction bonds as "a heresy, and we do not know what they will allocate. In fact, they will be allocated to operational spending, which is a major disaster that will add new burdens to the Iraqi economy." 
seal candle"

 

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  • 2 weeks later...
Likely to change the dollar exchange .. Saleh: The government will amend the 2022 budget, and the entitlements of Resolution 315 are guaranteed
  
{Economic: Al Furat News} The Economic Adviser to the Prime Minister, Mazhar Muhammad Salih, said that the next government will amend the 2022 budget, although it is properly prepared by the Ministry of Finance to be one of the first tasks of the new government, indicating that those covered by Resolution 315 will continue to pay their dues because they approved a law in 2021 budget.

Saleh said, in a press statement, that "the next year's budget was prepared in the Ministry of Finance, but there is a constitutional path and it was supposed to be submitted to the Council of Ministers last October to be referred immediately to the House of Representatives, but due to the dissolution of Parliament, there was no opportunity to discuss it, and the budget is waiting." The formation of the next government and parliament to be the first law to be discussed. 

He added, "The next government will discuss the budget, amend and add, and may make changes to the exchange rate according to the oil markets, and may add new projects to the investment budget," noting that "all these things will not be delayed because the budget is prepared correctly, but there are some adjustments here and there that may be made. by the next government. 

And he continued, "Even if the approval of the budget is delayed, the disbursement will be according to 12/1 of the actual expenses, and those covered by Resolution 315 approved their entitlements in the 2021 budget, and it became a reality and prepared for disbursement," expecting "its disbursement in the 2022 budget. Finance provided that it is legally approved, meaning that if it is approved in the 2021 budget, it will be added in the 2022 budget. If there is no budget, it is likely to be covered by the Financial Management Law. 

Mazhar pointed out that "Kuwait's money was deducted from oil money and Iraq's revenues, and these funds will be added to the budget, which makes a good financial space."

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Information/Baghdad.

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the next government will amend the 2022 budget, despite it being properly prepared by the Ministry of Finance, to be one of the first tasks of the new government, while indicating that the government may make changes to the exchange rate.

Saleh said, in a statement reported by the official "Al-Sabah" newspaper, which was seen by "The Information", that "the next year's budget was prepared in the Ministry of Finance, but there is a constitutional path and it was supposed to be submitted to the Council of Ministers last October to be referred immediately to the House of Representatives, but because of a dissolution Parliament did not have an opportunity to discuss it, and the budget is waiting for the formation of the next government and parliament to be the first law to be discussed.”

He added that "the next government will discuss the budget, amend and add, and may make changes to the exchange rate according to the oil markets, and may add new projects to the investment budget," noting that "all these things will not be delayed because the budget is prepared correctly, but there are some adjustments here and there that may be made. by the next government.”

And he continued, “Even if the approval of the budget is delayed, the disbursement will be according to 12/1 of the actual expenses, and those covered by Resolution 315 approved their entitlements in the 2021 budget and it became a reality and prepared for disbursement,” expecting “its disbursement in the 2022 budget. Finance provided that it is legally approved, meaning that if it is approved in the 2021 budget, it will be added in the 2022 budget. If there is no budget, it is likely to be covered by the Financial Management Law.

Saleh pointed out that "Kuwait's money was deducted from oil money and Iraq's revenues, and these funds will be added to the budget, which makes financial space." finished/25

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Thanks Yota, and a very Happy New Year to you and your loved ones :twothumbs:

Totally agree with you @WheresmyRV? 

 "The next government will discuss the budget, amend and add, and may make changes to the exchange rate according to the oil markets, and may add new projects to the investment budget," noting that "all these things will not be delayed

 

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6 hours ago, yota691 said:
Likely to change the dollar exchange .. Saleh: The government will amend the 2022 budget, and the entitlements of Resolution 315 are guaranteed
  
{Economic: Al Furat News} The Economic Adviser to the Prime Minister, Mazhar Muhammad Salih, said that the next government will amend the 2022 budget, although it is properly prepared by the Ministry of Finance to be one of the first tasks of the new government, indicating that those covered by Resolution 315 will continue to pay their dues because they approved a law in 2021 budget.

Saleh said, in a press statement, that "the next year's budget was prepared in the Ministry of Finance, but there is a constitutional path and it was supposed to be submitted to the Council of Ministers last October to be referred immediately to the House of Representatives, but due to the dissolution of Parliament, there was no opportunity to discuss it, and the budget is waiting." The formation of the next government and parliament to be the first law to be discussed. 

He added, "The next government will discuss the budget, amend and add, and may make changes to the exchange rate according to the oil markets, and may add new projects to the investment budget," noting that "all these things will not be delayed because the budget is prepared correctly, but there are some adjustments here and there that may be made. by the next government. 

And he continued, "Even if the approval of the budget is delayed, the disbursement will be according to 12/1 of the actual expenses, and those covered by Resolution 315 approved their entitlements in the 2021 budget, and it became a reality and prepared for disbursement," expecting "its disbursement in the 2022 budget. Finance provided that it is legally approved, meaning that if it is approved in the 2021 budget, it will be added in the 2022 budget. If there is no budget, it is likely to be covered by the Financial Management Law. 

Mazhar pointed out that "Kuwait's money was deducted from oil money and Iraq's revenues, and these funds will be added to the budget, which makes a good financial space."

What is  Resolution 315 ?

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