By 2023.. Warnings of disruption of public life and suspension of salaries

[DWS112]

A deputy rules out passing the 2022 budget and talks about alternative options

June 12, 2022

Alsumaria News - Baghdad, a member of the Parliamentary Finance Committee, Jamal Cougar, ruled out the possibility of legislating the federal budget during this year, pointing to other options to address the economic and financial crisis or go to crises without proceeding with one of them.

Cougar said in an interview with Alsumaria News that "Article 62 first of the constitution gave the full and exclusive authority to the federal government with full powers in preparing the general budget. Therefore, talking about the budget means talking about forming the new government."

Cougar added, "The completion of the new government is somewhat far away due to the continuation of political differences," noting that "we have entered the middle of the fiscal year, and even if the political parties agree to form a government within a month, it will need two months to prepare its budget and send it to Parliament, which in turn needs As a minimum, a month to complete and vote on it, which means that we have entered the last third of the current fiscal year."

He continued, "The current data makes us rule out budget legislation for the current year, but we may witness one or two laws similar to the Food Security Law, provided that the current law is passed and not challenged within the Federal Court, as happened with the law sent previously by the government, but without that, the political forces will be obligated to speed up." In forming a new government with full powers, or the current government may be forced to repeat what happened at the end of last year when it sent a law to borrow and finance in order to cover its expenses.”

He continued, "Without these options, the government will be forced to spend from a ratio of 1/12, and then we will enter into many economic crises in addition to the fuel-electricity crisis, especially since Iran has threatened to cut off gas supplies to Iraq at the end of this month in the event that the electricity does not pay the debts accumulated on it, not to mention other crises." accumulated."

[6ly410]

SULAIMANI — Jamal Kochar, an Iraq MP and a member of the Parliamentary Finance Committee, said on Sunday (June 12) the country’s budget bill cannot be sent to parliament this year and the government should take other measures to overcome the economic and financial crises.

Kochar said a government must be formed in Baghdad in order for the budget bill to be prepared for the legislative process, stating without a government, there would be no budget bill.

He also noted government formation was facing severe challenges due to political disputes in Baghdad, adding the year has already reached the middle of 2022.

Kochar explained, even if the government were formed next month, it would still take two months to prepare the budget and another to pass it in parliament.

Iraq’s parliament has failed to form a new government after the 2021 October election due to the political dispute between the political blocs.

(NRT Digital Media)

[horsesoldier]

IMHO .... between Sadrs MP's resignations, all the Kurds shenanigans & this: would I be incorrect in saying this is a very dangerous & potentially catastrophic situation in the making ???

[screwball]

18 hours ago, DWS112 said:

He continued, "The current data makes us rule out budget legislation for the current year, but we may witness one or two laws similar to the Food Security Law, provided that the current law is passed and not challenged within the Federal Court, as happened with the law sent previously by the government, but without that, the political forces will be obligated to speed up." In forming a new government with full powers, or the current government may be forced to repeat what happened at the end of last year when it sent a law to borrow and finance in order to cover its expenses.”

maybe the laws we want will get passed anyway....time will tell on this one

[screwball]

as long as laws get passed who needs government seated I say.....

[screwball]

14 hours ago, horsesoldier said:

IMHO .... between Sadrs MP's resignations, all the Kurds shenanigans & this: would I be incorrect in saying this is a very dangerous & potentially catastrophic situation in the making ???

maybe or blessing in disguise......

[screwball]

18 hours ago, DWS112 said:

we may witness one or two laws similar to the Food Security Law

lest hope one of these is final amendment to oil National Oil Company law!  Has the social security law passed?

[Half Crazy Runner]

3 hours ago, screwball said:

as long as laws get passed who needs government seated I say.....

This might be the only way these laws get passed! 🤯

[horsesoldier]

6 hours ago, screwball said:

maybe or blessing in disguise......

Certainly hope so

[yota691]

Iraq adopts the price of $90 per barrel of oil in the 2022 budget

 

money and business
   

Economy News - Baghdad
The Ministry of Finance announced that the draft budget law for the year 2022 includes securing 51 trillion dinars to finance ongoing and new projects, confirming the adoption of the price of a barrel of oil at $90 a barrel in the budget.

The Undersecretary of the Ministry of Finance, Taif Sami, said in an interview during the spring conference organized by the Iraqi-British Business Council in London, and followed by "Economy News", that "the draft budget law for the year 2022 includes securing 51 trillion dinars to finance ongoing and new projects, covered from the public treasury as a result of The rise in oil prices, including 10 trillion dinars through foreign loans.

She added, "The price of a barrel of oil will be approved in the budget at $90," stressing that "the white paper included reforming government banks through general structuring and governance, applying the comprehensive system and amending the internal system, and the project has now reached the State Council."

 

 

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Views 276

Added 06/14/2022 - 5:19 PM

Update 06/15/2022 - 5:19 PM

[6ly410]

Minister of Finance: There is no share for the Kurdistan region in the next general budget until after its agreement with the Ministry of Oil

Finance Minister Ali Abd El, Amir Allawi

https://economy-news.net/content.php?id=28518

 

Iraqi Finance Minister Ali Abdul Amir Allawi said the Federal Supreme Court's decision to nullify the Kurdistan Region's oil and gas law prevents the central government from allocating part of the upcoming general budget as a quota for the Kurdistan region.

Allawi said in an interview with Iraq Oil Report in Baghdad that previous budgets included paragraphs allocating 12% of expenditures to the Kurdistan region, provided that Erbil sends its equivalent oil revenues from the region's fields, but in fact this agreement has not been implemented, and has been replaced by temporary agreements between Baghdad and Erbil, under which Kurdistan received semi-regular monthly transfers worth 200 billion Iraqi dinars ($138 million), but these transfers will not It goes on.

"My job is to implement the law, not to break the law," Allawi said

This time, if Sumo informs us that it has not obtained a legal basis, and that the Ministry of Oil has not found a legal structure to cover its ownership of that oil,

This time, if Sumo informs us that it has not obtained a legal basis, and that the Ministry of Oil has not found a legal structure to cover its ownership of that oil, for us it basically means that this oil was seized and produced (illegally) and exported by the KRG (illegally) according to the interpretation of the Federal Court, which we consider at the federal level the highest legal authority.

When we sent the money in the past, we were discussing this agreement on the basis that oil belongs to the KRG and they have the right to extract it, whether we agree or not with oil contracts and participation contracts for extractive companies in Kurdistan, but this issue has not been raised before.
Now the issue of ownership of the region's oil fields has arisen, so if we transfer their benefits to the budget -- whatever their proportion -- the other side of the equation will never be addressed, and in fact there is no other side to the equation, in the past there is an explicit recognition that this is KRG oil, but now they have no right to act, and in accordance with the federal court's decision - although the Kurdistan Region will not accept this talk – now this oil belongs to us.

  

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Views 126
Add 2022/06/17 - 5:04 PM
Updated 2022/06/17 - 5:39 PM

[bkeiller]

More brinkmanship!

[6ly410]

Allawi .. the 2022 budget is devoid of the Kurdistan region's share

Posted 1 minute ago

 

news source /Sky Press

Allawi .. the 2022 budget is devoid of the Kurdistan region's share - Iraq News (iraqakhbar-com.translate.goog)

 

The Minister of Finance, Abdul Amir Allawi, announced, on Saturday, that the Federal Court's decision to invalidate the oil and gas law in the Kurdistan region prevents the central government from allocating part of the upcoming general budget as a share for the region.

Allawi said in a press interview, “The previous budgets included paragraphs allocating 12% of expenditures to the Kurdistan region, on the condition that Erbil sends the equivalent of oil revenues exported from the region’s fields, but in fact this agreement was not implemented, and it was replaced by temporary agreements between Baghdad and Erbil, According to it, Kurdistan received semi-regular monthly transfers worth 200 billion Iraqi dinars (138 million dollars)," stressing that "these transfers will not continue."

Allawi added, “My job is to implement the law, not to break the law, and in the 2021 budget, there was a clear condition that the Kurdistan Regional Government must either deliver oil exports to SOMO or hand over the equivalent of the money, which did not happen, so the transfers to the government of The Kurdistan region as dues from the general budget are no longer valid.”

Allawi continued, “This time, if SOMO informed us that it did not obtain a legal basis, and that the Ministry of Oil did not find a legal structure to cover its ownership of that oil, then for us it basically means that this oil was seized and produced (illegally) and was exported by a regional government. Kurdistan (illegally) according to the interpretation of the Federal Court, which we consider at the federal level the highest legal authority .”

And Allawi said that "when we sent the money in the past, we were discussing this agreement on the basis that the oil belongs to the Kurdistan Regional Government and they have the right to extract it," explaining that "whether or not we agreed with oil contracts and participation contracts for extractive companies in Kurdistan, but this issue did not previously affected.”

Allawi continued, "Now the issue of ownership of the oil fields in the region has arisen, so if we transfer their entitlements to the budget - whatever their ratio - the other side of the equation will not be addressed at all, and in fact there is no other side of the equation."

He pointed out that "in the past, there was an explicit recognition that this is the oil of the Kurdistan Regional Government, but now they do not have the right to act, and according to the decision of the Federal Court - although the Kurdistan Region will not accept this talk - now this oil belongs to us

[yota691]

Allawi: Financial Transfers To Kurdistan Will Not Continue Unless The Region Delivers Oil Imports To The Federal Government

06/18/2022

41

 

 

Earth News/ Finance Minister Ali Abdul-Amir Allawi confirmed today, Saturday, that financial transfers to Kurdistan will not continue unless the region hands over oil imports to the federal government.
Allawi said in a press interview followed by Earth News that “the previous budgets included paragraphs allocating 12% of expenditures to the Kurdistan region, on the condition that Erbil sends the equivalent of oil revenues exported from the region’s fields, but in reality this agreement was not implemented, and it was replaced by temporary agreements between Baghdad and Erbil, according to which Kurdistan received semi-regular monthly transfers worth 200 billion Iraqi dinars (138 million dollars)," stressing that "these transfers will not continue."
Allawi added, “My job is to implement the law, not to break the law, and in the 2021 budget, there was a clear condition that the Kurdistan Regional Government must either deliver oil exports to SOMO or hand over the equivalent of the money, which did not happen, so the transfers to the government of The Kurdistan region as dues from the general budget are no longer valid.”
Allawi continued, “This time, if SOMO informed us that it did not obtain a legal basis, and that the Ministry of Oil did not find a legal structure to cover its ownership of that oil, then for us it basically means that this oil was seized and produced (illegally) and was exported by a regional government. Kurdistan (illegally) according to the interpretation of the Federal Court, which we consider at the federal level the highest legal authority.”
And Allawi said that "when we sent the money in the past, we were discussing this agreement on the basis that the oil belongs to the Kurdistan Regional Government and they have the right to extract it," explaining that "whether or not we agreed with oil contracts and participation contracts for extractive companies in Kurdistan, but this issue did not previously affected.”
Allawi continued, "Now the issue of ownership of the oil fields in the region has arisen, so if we transfer their entitlements to the budget - whatever their ratio - the other side of the equation will not be addressed at all, and in fact there is no other side of the equation."
He pointed out that "in the past, there was an explicit recognition that this is the oil of the Kurdistan Regional Government, but now they do not have the right to act, and according to the decision of the Federal Court - although the Kurdistan Region will not accept this talk - now this oil belongs to us."

[6ly410]

Finance Minister Ali Allawi: We will not allocate any money to Iraqi Kurdistan after the federal decision

Posted 19 seconds ago

 

Finance Minister Ali Allawi: We will not allocate any money to Iraqi Kurdistan after the federal decision - Iraq News (iraqakhbar-com.translate.goog)

 

news source /Iraq Today Agency

 

Baghdad - Iraq today:

Iraqi Finance Minister Ali Allawi confirmed, on Saturday, that we have a great opportunity to restore Iraq as a major supplier of electricity, noting that "the Federal Court's decision regarding the law of selling oil and gas in Kurdistan prevents allocating a share to the region in the budget."

Allawi said during his participation in the “Global Energy Security in Times of Conflict” forum at the American University in Baghdad, “Iraq today needs to make strategic decisions based on where it wants to be located 20 years from now, as Qatar has made huge investments in gas production. In the 1990s, it was one of the greatest strategic decisions that were made and they are now reaping the benefits.”

He added that "Iraq depends more on oil revenues than other countries, and we do not have financial buffers that allow us to deal with another collapse safely."

He continued, "Iraq must divert capital investments to maintain current oil production rates while shifting focus to electricity production where demand is expected to grow. We have a great opportunity to return Iraq as a major supplier of electricity."

On the other hand, Allawi stated that "the Federal Court's decision regarding the invalidity of the law on the sale of oil and gas in the Kurdistan region prevents the allocation of a share to the region in the budget."

[6ly410]

 

[6ly410]

SULAIMANI — Iraq’s Finance Minister, Ali Allawi, said the Kurdistan Region’s share of the 2022 budget will not be allocated because the of Federal Supreme Court’s decision against the regional government’s oil contracts.

Allawi told Earth News Arabic the Kurdistan Region’s oil was seized illegally and exported by the Kurdistan Regional Government (KRG), adding the oil income should be sent to the Iraqi federal government as part of the agreement between Erbil and Baghdad from 2021.

He said the oil exports were not handed over and for this reason, the budget will not include the KRG’s share.

Allawi said the 200 billion Iraqi dinars sent by the federal government was based on an agreement between Erbil and Baghdad in order for the KRG to work on handing over oil exports. He stated the transfer would not continue.

The supreme court ruled against the KRG’s oil contracts in February, while Erbil has rejected the court ruling a number of times and stated the verdict was politically motivated.

(NRT Digital Media)

[yota691]

Al-Kazemi’s advisor sets the date for sending the 2022 budget to Parliament

 

money and business
   

Economy News - Baghdad
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, set, on Wednesday, the date for the government to send the general budget law for the year 2022 to Parliament.

Saleh said, "If the legal situation is adapted to allow the executive authority to pass bills, it is very possible to present the 2022 budget, sequentially with the 2023 draft budget next October, provided that the first is approved before the fiscal year ends at the end of December 2022."

He added, "Next October, the draft budget law from the year 2022 will be submitted by the government to Parliament to the year 2023 according to the amended Federal Financial Management Law No. 6 of 2019," according to the official news agency.

 

 

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Views 364

Added 06/29/2022 - 8:26 PM

Update 06/30/2022 - 3:54 PM

[6ly410]

The government's financial advisor reveals a package of income-generating technology projects

Saturday 02 July 2022 11:16 | EconomicNumber of readings: 289

The government's financial advisor reveals a package of income-generating technology projects (ninanews-com.translate.goog)

Baghdad / NINA / - The appearance of Muhammad Salih, the financial advisor to the Prime Minister, revealed today, Saturday, the existence of a wide range of income-generating technology projects that will be launched if financial savings are achieved at the end of the current fiscal year 2022, and while he stressed that they will help diversify Iraq's financial revenues, he put forward his expectations regarding investment spending in the 2023 budget

. Saleh said in a press statement: “If the financial savings are achieved at the end of the 2022 fiscal year, which after approving the expenditures of the emergency support law for food security and development, it is expected to be with a balance of perhaps no less than 15 billion dollars, the state’s economic policy It is moving towards investing in a wide range of technology projects that generate income and operate technical work.”

He added: "This new package comes within the previous preparation to define a package of major industries with a strategic character and export tendencies for the product that will depend on national inputs."

He pointed out: "The strong technological package policy will help diversify Iraq's financial revenues from outside the oil wealth sector and ensure a growth rate in the gross domestic product, at least twice the population growth rate."

He pointed out that "the exceptionally high financial accumulations will undoubtedly be offset by the policy of developing high-tech, efficient and profitable production projects and a high export power, and this is expected to be drawn when preparing investment spending estimates in the 2023 budget." / End 8

[yota691]

 

Iraq .. the contribution of oil to the budget amounted to 96%, and the surplus was 21 billion dollars within a month

 

 2022-07-06 05:07

 

Shafaq News/ The Ministry of Finance issued the Iraqi state accounts for the month of May for the fiscal year 2022, which indicated that the contribution of oil to the federal budget is still high, reaching 96%, while the government attributed this to zero customs and high oil prices. At the same time he warned of its danger.

Shafaq News Agency followed the data and tables issued by the Ministry of Finance in the current month of July for the accounts of last May, which indicated that oil is still the main resource for Iraq's general budget, reaching 96%, which is the same percentage for the month of last April, which confirms that the rentier economy is the basis in the budget Iraq General.

Through the financial tables, it is clear that the total oil revenues for the month of May amounted to 59 trillion and 785 billion and 819 million and 356 thousand and 654 dinars, which represents 96% of the total revenues, while the total non-oil revenues amounted to two trillion and 432 billion and 775 million and 493 thousand and 926 dinars, which constitutes 4% of the total revenues, while the total oil and non-oil revenues amounted to 62 trillion and 218 billion and 594 million and 850 thousand and 580 dinars, which is 95% higher than the same period last year 2021, which amounted to 31 trillion and 917 billion and 236 million dinars as a result of high oil prices.

According to the finance report, the revenues for the month of last May came from the current revenues represented by oil revenues and mineral wealth, amounting to 59 trillion, 489 billion and 48 million and 396 thousand and 722 dinars, and they came from taxes on income and wealth at the rate of 574 billion and 774 million and 723 thousand and 503 dinars, and they also came from Commodity taxes and production fees amounted to 413 billion and 30 million and 36 thousand and 822 dinars and also came from fees that amounted to 479 billion and 131 million and 96 thousand and 127 dinars and from the share of public sector profits amounting to 352 billion and 741 million and 60 thousand and 477 dinars and transfer revenues that amounted to 453 billion and 205 million And 204 thousand and 609 dinars and from other revenues by 427 billion and 362 million and 400 thousand and 503 dinars.

It also came from capital revenues, which amounted to 29 billion and 301 million and 607 thousand and 817 dinars.

Accordingly, the actual surplus for the month of May amounted to 21.834 trillion dinars.

For his part, financial expert Hilal Al-Tahhan considered in an interview with Shafaq News Agency, "The high contribution of the oil sector in the federal budget is considered normal in the case of Iraq for its rentier economy dependent on oil to obtain hard currency and neglect the rest of the other economic sectors."

He added that any country that pursues a rentier economy, such as the case of Iraq, is a serious matter because the country's economy is linked to international oil prices and what these prices face from market fluctuations, pointing out that "what we are witnessing today of rising oil prices may not be witnessed at all in the coming years with the direction of countries the world to decarbonize and use clean energy.

The Prime Minister's Adviser for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March of the year 2021 in an interview with Shafaq News Agency that the reasons for the economy remaining rentier are due to wars and the imposition of sieges during the past era and the political conflicts we are witnessing today, which led to the dispersal of economic resources.

And the Iraqi state’s continuation of relying on oil as the only source of the general budget makes the country at risk of global crises that occur from time to time because oil is affected by it, which makes Iraq turn every time to cover the deficit through borrowing from abroad or inside, which thus indicates the inability to manage Effectively state funds, and the inability to find alternative financing solutions.

[yota691]

 

PARLIAMENTARY FINANCE MONITORS THE CHANCES OF APPROVING THE GENERAL BUDGET FOR THE CURRENT YEAR

 

Saturday, July 9, 2022 5:49 PM

National News Center / Special

Today, Saturday, the Parliamentary Finance Committee confirmed that the general budget law for the year 2022 requires a period of no less than two months, while revealing the available alternatives to this law.

Committee member Jamal Cougar said, in a statement to the "National News Center", that "the chances of this year's budget are almost non-existent, especially as it needs a period of no less than two months to be approved after the formation of the government."
He continued, "The government has another option, alternative to the budget, in case it needs financial liquidity, which is to go to the Parliamentary Finance Committee to formulate another financial law similar to the emergency support law for food security in order to provide liquidity."

The "Food Security and Development" law came after the approval of the general budget law was hampered by the political crisis that has afflicted the country for more than seven months.

The law includes allocating 25 trillion Iraqi dinars (about 17 billion dollars) to secure the country's main needs of electricity, gas, wheat and other basic materials, as well as securing the monthly ration items for citizens, and supporting the social welfare network.

[horsesoldier]

No worries here, there's still 5 & 1/2 months left to go in 2022. Ain't nothing but a thing. Don't rush it, get it right. Perhaps 2023 might be better all around 

[ronscarpa]

The new generation: The formation of the government will take time, and Parliament cannot start budget procedures

 

 

Today 12:27

Baghdad - INA - Nour al-Zaidi
, head of the New Generation Parliamentary Bloc, Sarwa Abdul Wahed, confirmed today, Friday, that Parliament cannot begin budget procedures, while revealing the reasons.
Abdul Wahed told the Iraqi News Agency (INA): "The opposition has an active role in the House of Representatives, and we look forward to having serious monitoring by it before going to form a government."
She added, "Some forces, including the New Generation and the Emtada movement, announced their position by forming an opposition in Parliament."
She explained that "Parliament cannot start budget procedures during the current year, as the current government is a caretaker government," noting that "forming the government will take time."

She pointed out that "the House of Representatives deals with the government according to the constitution, and the current government cannot, according to the decision of the Federal Court, send any draft law."
And the committee ruled out that “the House of Representatives goes to read the budget, unless a new government is formed or the Federal Court allows an emergency order, or the current government submits an appeal or a petition to the Federal Court to obtain an exception to submit laws.”

[WheresmyRV?]

By the time they get around to forming a new GOI it will be time for a new election. 

[yota691]

Member of Parliamentary Finance: We work with one leg!

• Time: 07/23/2022 13:12:22
•  
• Reading: 1,079 times

  

{Economic: Al Furat News} A member of the Parliamentary Finance Committee, Jamal Kougar, described the work of the parliamentary committees currently as “not integrated.”

Cougar told {Euphrates News}, "So far, the committees have not done their work in an integrated and serious manner, because the government has not been formed. Things now are similar to working with only one leg."

He added: "Because the government is a caretaker, it will differentiate matters in holding it accountable for the full-fledged government," noting that "this affects the work of parliamentary committees that may change according to the new distribution of ministries."

In conclusion, Cougar pointed out that there is a "slack in the work of the parliamentary committees."

Raghad Daham