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Iraq to prepare 2023’s budget law within 20 days


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ERBIL (Kurdistan 24) – Muhammed Nury, member of Iraqi Council of Representatives, announced in a press conference that the budget law of 2023 will soon be prepared within 20 days.

“We’re under severe pressure to prepare the draft of 2023’s budget law, we will do our best to prepare it within 20 days,” Nury said.

Mahood Hayani, member of Iraqi Council of Representatives, confirmed his colleague’s statement, noting that it’s the best time for preparing the budget draft.

Political deadlock and economic crises are the causes of delaying the preparation of the draft, Hayani added.

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SULAIMANI (ESTA) — Kurdistan Region Finance Minister Awat Sheikh Janab received U.S. Consul General Irvin Hicks Jr in the Region’s capital, Erbil, on Monday where the official revealed that they will go to Baghdad shortly for talks on the 2023 budget law.    

“In the next few days we will head to Baghdad to secure the Kurdistan Regional Government (KRG) share in the Federal budget,” Sheikh Janab told Hicks Jr.

“We hope for a good beginning to understanding the negotiations so that the Kurdish people’s rights will be fulfilled safely,” he added.

Earlier, Esta Media Network learned that a delegation from KRG is expected to pay a visit to Baghdad this week for talks on financial issues with Iraqi officials.

The delegation will also hold talks, aiming to discuss and implement an agreement between the Kurdish, Sunni, and Shiite parties regarding the same matter.

The relations between the KRG and the Federal Government have been rocky since the Region developed its own oil and gas resources independently of the federal government.

The Region’s massive untapped oil reserves, lucrative production-sharing contracts and safe environment have prompted international oil companies over recent years to commit to investing billions of dollars there.

However, the Federal government has protested against that move by the KRG, showing tough stances several times by issuing decisions against the Region as well as cutting its monthly share in the country’s budget.

Kurdistan Region Finance Minister in the meeting with the U.S. Consul General has also underscored that their next visit to the Iraqi capital will touch up the oil and gas issue as well.

“Our aim is to discuss the 2023 budget law,” he said. “The oil and gas issue must be resolved in accordance with the constitution,” he added.

Apart from these talks, the Finance Minister affirmed support for the new Iraqi government from all aspects, further hoping to achieve the right of the Kurdish people in the framework of the constitution.

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Washington informs Kurdistan of its support for cooperation and agreement between Baghdad and Erbil

 

 2022-11-07 06:30

 

واشنطن تبلغ كوردستان دعمها للتعاون والاتفاق بين بغداد وأربيل (shafaq.com)

 

Shafaq News/ A delegation from the US Consulate in Kurdistan Region affirmed, on Monday, Washington's support for cooperation and agreement between the governments of Baghdad and Erbil. A statement by the Ministry of Finance in the Kurdistan Region stated to Shafaq News Agency, that "a delegation from the US Consulate visited the ministry today and met with the Minister of Finance of the region, Awat Janab, who confirmed during the meeting the regional government's support for the new Iraqi government and expressed his hope to obtain the legitimate rights of the Kurdish people through the constitution." And about the visit of the Kurdish ministerial delegation to Baghdad, the Minister of Finance of the region indicated that "this visit comes with the aim of agreeing on the budget of the Kurdistan Region," hoping that "it will be a fruitful visit." The guest delegation expressed its happiness with the aspirations and vision of the regional government, stressing the United States' support for all kinds of cooperation and agreement between the central and regional governments.

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SULAIMANI — The Kurdistan Region’s Minister of Finance, Awat Sheikh Janab, said on Monday (November 7) that in the coming days a Kurdish delegation will go to Baghdad for talks over the Region’s budget share.

In a meeting with a delegation from the US Consulate, Janab said the Kurdish delegation’s goal is to hold talks with the federal government over the 2023 budget bill and the Kurdistan Region’s share in the budget.

A source from the Iraqi Ministry of Finance told NRT that Baghdad is not ready to send any budget share if authorities in the Kurdistan Region do not comply with their agreements.

A number of political blocs have objected to past agreements between Erbil and Baghdad. According to certain agreements, Erbil was obligated to hand over a specified amount of oil per day and 50 percent of non-oil revenues, such as customs and tax.

The Kurdistan Region has yet not handed over oil and non-oil revenues to Baghdad.

(NRT Digital Media)

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MP for the Democrat: A Kurdish delegation visits Baghdad soon and the national is blocking the decision of the Ministry of Environment

MP for the Democrat: A Kurdish delegation visits Baghdad soon and the national is blocking the decision of the Ministry of Environment
  
{Politics:Euphrates News} A Kurdish delegation plans to visit the capital Baghdad soon to discuss two important files "Senior positions and the share of the Kurdistan region in the 2023 budget.

Rep. Jiayi Taymour, a member of the Kurdistan Democratic Party (KDP), told the program "Al-Maastara" broadcast by the Euphrates satellite channel this evening that: "A Kurdish delegation will visit Baghdad soon to discuss the share of the region in the 2023 budget and there is a preliminary agreement with the Sudanese on the share of Kurdistan and the dues of Baghdad, and the Kurdish delegation will also put forward the file of positions that are within the entitlement of the Kurdish component."
"We have representatives in the government who are in Baghdad and are communicating on the issue of the share of the Kurdistan region in the budget and there will be long and complex debates and discussions about the budget and as a result we expect to reach a fair agreement between the governments of the center and the region," he said.
Timur continued, "The paper that has been passed by all parties of the coalition of state administration and the duty of all forces to overcome all difficulties and provide an ideal atmosphere for the government of Mohammed Shia al-Sudani to complete its tasks and get the country out of crises and it must not carry itself extraordinary."
He pointed out that "the two Kurdish parties seek positions within the hierarchies and senior positions to be on everyone's side to serve the people; but the political forces have not yet entered to discuss these positions."
Timur stressed "the importance of the national investment authority in the development of the country and attracting investors and Kurds have a long history in this and the evidence of what the Kurdistan region is witnessing from this development and I think one of the people who had a role in the development of the investment sector in Kurdistan; but I do not think the Kurds hold on to the position of investment body."
However, he said, "The theft of public money has become harmful to the reputation of Iraq and therefore must be taken care of with the accuracy of not diagnosed on senior positions and it is difficult to follow up and urge those behind the theft of tax security and the assertion of influential political parties behind it."
"Theft has become a global phenomenon and I do not justify the Kurdistan region from it, and there are networks for smuggling oil in Kurdistan, but at a lower level than in the south of the country and exposing more than one network of theft," Timur said.
He pointed out that "a close agreement of the two Kurdish parties on the naming of the portfolios of reconstruction and environment and the Ministry of Housing was decided for the democrat and there is only the left to negotiate the environment portfolio and the Patriotic Union of Kurdistan refuses to sit at a negotiating table to resolve it."

 

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Parliamentary Finance: The 2023 Budget is the Largest in the History of Iraq

Parliamentary Finance: The 2023 Largest Budget in the History of Iraq – Iraq News Network (aliraqnews.com)

Parliamentary Finance: The 2023 Budget is the Largest in the History of Iraq
Last Update:8 November 2022 - 9:51 am

Baghdad/Iraq News Network - A member of the parliamentary finance committee, Repoir Orhamman, said on Tuesday that the main pillar of the success of the government program is the adoption of an unconventional and non-political budget.Orhaman added, "We have a great financial abundance and we have to exploit it and turn it into investment plans that serve the country and help us reduce poverty, and address challenges such as water scarcity, desertification from an environmental point of view, stopping and disrupting thousands of factories from an industrial point of view and the spread of unemployment." A political budget like its predecessors."

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The Sudanese government will pay 200 billion dinars a month to Kurdistan again

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News source / Iraq Today Agency

 

Baghdad - Iraq today:

Economist Nabil Al-Marsoumi revealed, on Tuesday, that Kurdistan has guaranteed its share in the 2023 budget.

Al-Marsoumi said in a Facebook post, “The information received from Kurdish sources indicates that the region’s share in the 2023 budget will be the same as its share in the 2021 budget, meaning that it will receive 200 billion dinars per month while its oil remains for it.”

He pointed out that "the exchange will start from the current month of November, according to the sources, who also say that this is part of the political agreement under which the government was formed."

Al-Marsoumi warned that “it is not possible to verify the authenticity of this information until the completion of the 2023 budget bill.”

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Expert: Kurdistan will retain its oil and will receive 200 billion dinars per month in the 2023 budget

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Economy News / Baghdad

Economist Nabil al-Marsumi revealed on Tuesday that Kurdistan has guaranteed its share in the 2023 budget.

Al-Marsumi said in a Facebook post that "information received from Kurdish sources indicates that the share of the region in the 2023 budget will be the same as its share in the 2021 budget, that is, it will receive 200 billion dinars per month with its oil remaining for it."

He pointed out that "the exchange will start from this November, according to the sources, who also say that this is part of the political spending under which the government was formed."

"The authenticity of this information can only be ascertained when the draft budget law for 2023 is completed," al-Marsumi warned.


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Added2022/11/08 - 4:47 PM
Updated2022/11/08 - 6:03 PM

 

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Sudani: We will present the 2023 budget to parliament soon and agree on the share of the region

Sudani: We will present the 2023 budget to parliament soon and agree on the share of the region
  
Prime Minister Mohamed Shia al-Sudani has announced that the government will submit the draft federal fiscal budget law for 2023 to the House of Representatives soon.

Al-Sudani said in a press conference held today after the meeting of the Council of Ministers today: "We will submit the draft general budget for 2023 to the House of Representatives soon."

"We will meet with the delegation representing the Kurdistan Region to agree on the subject of the budget and the share of the Kurdistan Region before submitting the draft law to the parliament," he added.

Al-Sudani stressed that "the federal government will agree with the Kurdistan Regional Government on the files of the general budget and the share of the Kurdistan region of them, as well as the file of oil and gas and the start of the joint brigade's work in the areas of security vacuum."
 

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Parliament sets the date for resolving the 2023 budget file

Doc-T-437746-638036104033967573-810x458.
 
News source / Alsumaria channel

 

Al-Haidari said in an interview with Alsumaria, “The House of Representatives decided to extend its legislative term after work was suspended due to differences and the political blockage,” noting that “this decision came in order to pass important laws, including the budget law.”

 

 

Yesterday, Tuesday, the House of Representatives decided to extend the second legislative term for one month, “based on the provisions of Article (58/second) of the Constitution; In order to complete a number of necessary tasks and legislation.”

Al-Haidari added, "The government is either a great challenge and its slogan is success, and therefore it needs important legislation, and the most important thing is approving the budget so that there is ease in completing the stalled projects."

And he indicated, "The resolution of the budget file will not exceed this month," stressing that "members of Parliament from all political blocs are determined to complete this file."

Iraq has not approved the 2022 draft budget due to the political crisis that has engulfed the country since the “early” elections were held on October 10, 2021.

In the first meeting of the Council, Prime Minister Muhammad Shia Al-Sudani directed the Ministry of Finance to send the draft budget law to the Ministerial Council of Economy “as quickly as possible for its study,” according to a statement by the General Secretariat of the Council of Ministers.

The preparation of the draft budget is the responsibility of the Ministry of Finance, which in turn submits it to the Council of Ministers for enrichment and a vote on it, before it is referred to Parliament for legislation within a law.

Previously, Finance Minister Taif Sami confirmed that one of the new government's priorities is to approve the 2023 budget, while indicating that the next stage requires redoubling efforts and preparing programs towards strengthening the pillars of the national economy.

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Parliamentary Legality: Extension of the Legislative Chapter of Parliament to Approve the 2023 Budget

Parliamentary Legality: Extension of the Legislative Chapter of Parliament to Approve the 2023 Budget
  
The parliamentary legal committee revealed on Wednesday the intention of the parliament to extend the legislative term for the fifth session to approve the 2023 budget.

The useful summary.. In the important news you find it in Euphrates News channel on Telekram To subscribe click here

Committee member Ahmed al-Fawaz told Al-Furat News that: "The parliamentary legal committee has a package of stalled laws that have been in the past two parliamentary sessions and it is time to approve them, the most important of which are at the heart of the life of the Iraqi individual and have the importance of raising the level of per capita income in addition to extending the legislative term of the fifth session to approve the general budget for the year 2023."
"After granting confidence to the Sudanese government, the parliamentary committees in the House of Representatives began to take their role and entitlement in order to provide what is better, as well as the continuation of parliamentary sessions to support the laws that have been stalled throughout the previous sessions," he added.
"Tomorrow there will be a session to take the constitutional oath of office of some MPs and host the ministers of agriculture and water resources regarding the scarcity of water taking place and prepare for the winter season of strategic crops that are at the heart of Iraqi food security," al-Fawaz said.
He explained that "there is water scarcity, mismanagement and failure to deal with water sources according to the entitlements of the water quota according to agreements with neighboring countries; so the House of Representatives is pushing to discuss many laws, including the second amendment to the law of public roads in addition to the law of the National Authority for Nuclear Control as well as the law regulating the wages of services in state departments in tomorrow's session."

 

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Central Bank: Our reserves reached $90 billion and there is no change in the exchange rate in the 2023 budget

Reportshttps://economy-news.net/content.php?id=30689

Economy News-Baghdad

Oil prices globally have strengthened the size of the dollar's cash reserves in Iraq, especially after the rise in the prices of "black gold" and reached the barrier of $ 100 per barrel, while specialists stress the need to exploit that financial abundance to establish strategic projects capable of supporting the country's financial budgets and reducing the size of "semi-total" dependence on oil imports, as well as directing part of those towards supporting industrial and agricultural private sector projects.

Al-Yasiri's assertions came during the economic symposium organized by the House of Wisdom and carried the slogan (Iraqi Dinar: Changing the Exchange Rate

The zeros were raised) and managed by the economist, Dr. Falah Hassan Thuwaini, and was attended by a number of experts and specialists in economic affairs.

Al-Yasiri told "Al-Sabah" on the sidelines of the seminar, "The cash reserves of the Central Bank are sufficient to finance imports for a period of 22 months, and this is positive for Iraq and makes it live a period of satisfaction, as those reserves amounted to $89.90 billion, which is the first time that the reserves of the Central Bank have ever reached

Al-Yasiri pointed out that the volume of the Iraqi currency issued for circulation is estimated at 83 trillion dinars, equivalent to 58 billion dollars, while banknotes with the public and banks are estimated at six billion banknotes to be traded.

On devaluing the currency, Al-Yasiri stressed that this decision is behind a new threshold for the Iraqi industrialist and making it more competitive, after devaluation of the currency by 23 percent, this limited the volume of imports of goods and many industrialists have a desire to expand their factories or establish new factories.

The adviser to the Central Bank pointed out that "the process of adjusting the exchange rate has important means, represented in achieving a financial goal of "rewards to public finances" and a development goal to "promote the competitiveness of the real sector against the import sector," stressing that there is no intention at the moment to change the exchange rate, which he described as a "change

In turn, the financial adviser to the Prime Minister, Mazhar Mohammed Saleh, said that "work to improve the price of the dinar should be carried out in accordance with the principle of the "common benefit of the society" so that it does not leave harm, as this requires a gradual silent policy and high coordination between the monetary and financial policies, especially since the next phase should be a phase of calm, as the current government is rationally moving towards revitalizing development and achieving economic stability 

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Added 2022/11/09 - 10:57 AM

Updated 2022/11/09 - 10:50 PM

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Parliamentary Finance: The 2023 budget will be "different"
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Economy News - Baghdad

The parliamentary finance committee on Thursday described the fiscal budget for 2023 as "different."

Committee member Jamal Kojar said that "the 2023 budget will be somewhat different, especially the investment budget in it."

He explained that "the operational in it will be similar and the investment we believe it will be different, as the budget is supposed to include job opportunities, support for the private sector and support for small projects."

Kojar added in a statement to "Euphrates News", followed by "Economy News", "We also expect that it will include steps that lead to the construction of strategic projects of roads and dams," stressing "the need to focus on these areas."


120 Views
Added10/11/2022 - 6:59 PM
Updated2022/11/10 - 9:42 PM

 
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Forecast for the shape of the 2023 budget.. Operation or investment?

Forecast for the shape of the 2023 budget.. Operation or investment?
  
The Parliamentary Finance Committee on Thursday predicted the shape of the federal budget for the year 2023 and described it as "different."

 

Committee member Jamal Kojar told Euphrates News that "the 2023 budget will be somewhat different, especially the investment budget in it."
He explained that "the batch in it will be similar and the investment we believe it will be different, as the budget is supposed to include job opportunities, support for the private sector and support for small projects."
"We also expect that it will include steps leading to the construction of strategic projects of roads and dams," Cougar said, stressing "the need to focus on these areas."
The former rapporteur of the parliamentary finance committee, Ahmed al-Saffar, described the 2023 budget as "the largest in the history of Iraq."
For his part, the economist, Nabil Al-Marsoumi, through {Euphrates News}, specified the "realistic" price of the price of a barrel of crude oil in the draft fiscal budget for 2023, {estimating the price of a barrel of oil in the 2023 budget between 70 to 76 is considered realistic, especially since this same rate was adopted by Saudi Arabia in its budget}.
Prime Minister Mohamed Shia al-Sudani announced at a press conference that the government would submit the draft federal fiscal budget law for 2023 to the House of Representatives soon.
Al-Sudani had instructed the Ministry of Finance to send the draft budget law for 2023 to the Ministerial Council for Economy as soon as possible to study it, and then send it to the General Secretariat of the Council of Ministers to include it in the agenda of the Council of Ministers, in order to expedite its legislation, because of its importance.

By: Raghad Dahham
 

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Will the dollar exchange rate be changed in the 2023 budget?

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Baghdad - Iraq today:

The Parliamentary Finance Committee ruled out a change in the value of the dinar against the dollar in next year’s budget, pointing out that the price of a barrel of oil will not be the same as its predecessor in the budget, especially with the increase in global prices. 

Committee member Jamal Ahmed said in a press interview that "there is an urgent need to make changes in the investment budget to suit the actual need of the country in order to implement the government program of the Sudanese government." 

He added that "the dollar's exchange rate in the budget will remain fixed without making any change, especially since the central bank is responsible for this policy and has made clear its opinion on this issue." 

And he indicated that “the price of a barrel of oil in the budget will change from its predecessor, and it is likely that it will be lower than the price offered in the global markets,” pointing out the importance of “putting a reserve price of oil in the budget, especially since global markets may witness an increase in the quantities supplied of oil.”

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Al-Abadi receives the Minister of Finance and calls for expediting the preparation of the 2023 budget

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Baghdad / NINA / - The head of the victory coalition, Haider al-Abadi, called on the Minister of Finance, Kaif Sami, to expedite the preparation of the 2023 budget

. The victory coalition said in a statement: "Al-Abadi congratulated the Minister of Finance on the occasion of assuming her duties, wishing her success and success, stressing the importance of preparing a financial policy that is proportionate to With the magnitude of the challenges and current requirements of the country and citizens, and speeding up the preparation of the financial budget because of its great impact on the work of ministries and state institutions and the progress of important projects.

The Minister of Finance gave a detailed presentation on the financial situation and her plans to lead the ministry during the next stage./End of 7

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Government source: Formation of a small committee to review the draft budget for 2023 by order of the Sudanese

Government Source: Formation of a Small Committee to Review the Draft Budget 2023 by Sudanese Order – Iraq News Network (aliraqnews.com)

Government source: Formation of a small committee to review the draft budget for 2023 by order of the Sudanese
Last Update:12 November 2022 - 11:45 am

Baghdad/Iraq News Network - An official source in the Iraqi government, Saturday, revealed that Prime Minister Mohammed Shia al-Sudani formed a small committee that is responsible for reviewing the draft law on the financial budget for next year before sending it to parliament as amendments are likely to be made.The source said, that the Sudanese directed in the first session of the Council of Ministers to form a small committee to study the draft law of the general budget for the year 2022 and make a fundamental amendment to the draft law to become the budget for the year 2023 according to the vision of The government and the ministerial curriculum in line with the economic situation and oil prices in the world markets.He added that the committee will work on the completion of the draft general budget law for the year 2023 and submit the draft law to the Council of Ministers before the end of this month in preparation for the adoption of the law and send it to the House of Representatives.The source also pointed out that there is an agreement between the Sudanese and the Speaker of the House of Representatives Mohammed Al-Halbousi to extend the work of the House of Representatives and wait for the budget law from the government to be sent to the parliament and approved before the end of the year legislative term.

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