Iraqis are waiting for the value of the Iraqi dinar to rise after decades of collapse

[screwball]

10 hours ago, yota691 said:

He continued by saying that the rest of the remaining foreign reserves, which are 50% (except for the dollar), are deposited with reliable European global central banks and a global monetary institution, and in currencies such as the pound sterling, the European euro, the Chinese yuan, the Japanese yen, and the currency of the International Monetary Fund called special drawing rights units, in addition to monetary gold that More than 132 tons of gold or more as officially declared and deposited in safe global gold vaults.

👏 

[screwball]

On 2/23/2023 at 5:15 PM, Laid Back said:

Maybe they are going to peg the dinar to a basket of currencies.

 

 

Yep this is what we are waiting for international inclusion

[rvmydinar]

On 2/23/2023 at 1:15 PM, Laid Back said:

Maybe they are going to peg the dinar to a basket of currencies.

 

 

🤷‍♀️ But 

[yota691]

Counselor Mazhar Salih: The single treasury account unites the government's cash flows

 

March 3, 2023

Baghdad / Obelisk: The financial advisor to the Prime Minister, Mazhar Muhammad Salih, outlined the benefits of establishing the unified treasury account, considering it the main tool for managing the government's monetary resources .

Saleh told Al-Masalla that the unified treasury account is the main tool for unifying and managing the resources or cash flows of the central government, as Iraq unfortunately still depends on government banking arrangements in a fragmented manner.

He added that the effective oversight of the financial administration cannot achieve its goals in controlling public funds unless it relies on unified and undivided government banking arrangements, adding: Therefore, the unified treasury account is an essential tool for unifying and managing the government's monetary resources .

He continued: And then reduce the costs of borrowing, as the Iraqi government often borrowed from government banks in past years to fill the deficit in the annual budget, and the sources of that borrowing were mostly from surplus government deposits in various government accounts, due to the absence of sufficient information about the financial abundance scattered in various accounts. banking.

He pointed out that Iraq is still among the countries that have fragmented government banking arrangements in dealing with government revenues and payments, which necessitates action today, for the government financial administration to have the launch of the project to establish the unified treasury financial account and in accordance with the priorities that came in the principles of public financial management reform, which It was stipulated in the ministerial platform of the Iraqi government.

He stressed that the proliferation of sub-accounts of ministries, departments and public institutions in the current form, has made the financial management and oversight authorities lose the ability to be accountable in following up on financial actions, so pooling funds in a single or unified treasury account means pooling all government funds in one account, which would reduce It reduces borrowing costs, expands credit, improves the government's financial policy, and at the same time improves oversight and accountability within the scope of work of government spending units, and reduces corruption in financial behavior and abuse of public funds.

He noted that launching the establishment of the unified treasury account comes as a necessary condition for completing the digital system, which is called: the Integrated Financial Information Management System (  IFMIS) . 

.

[3n1]

make the dinar powerful again raise the rate above the dollar make it internationally traded bankable once again iraqis will use the new powerful iqd and drop the dollar in country .. made that simple lol letsroll 

[horsesoldier]

9 minutes ago, 3n1 said:

make the dinar powerful again raise the rate above the dollar make it internationally traded bankable once again iraqis will use the new powerful iqd and drop the dollar in country .. made that simple lol letsroll 

Boy oh boy, you're asking a lot ... 🤣

Edited March 3, 2023 by horsesoldier

[yota691]

A government comment about the continued rise in the price of the dollar despite the decisions and procedures

2023-03-04 05:07

 

 

 

Shafaq News/ Mazhar Muhammad Salih, the financial and economic advisor to the Iraqi Prime Minister, commented today, Saturday, on the continuing rise in the exchange rate of the dollar in the local market, despite all decisions and measures by the government and the central bank.

 

 

Saleh told Shafaq News agency, "Transfers in foreign currency related to financing the current account of the balance of payments, and I mean (trade in goods and services specifically), are still not sufficiently adapted, either by some banks or by their importing customers, to the controls of the compliance platform and the new mechanisms for external transfer, with the same effect." High governance and fast enough, especially after the dealers got used to the external transfer (banks and individuals) and for nearly twenty years of liberal use in the external transfer by merging the current account transactions with the capital account of the Iraqi balance of payments, while the compliance platform that oversees the regulation of external transfer transactions has I revealed such an implication in the request for an external transfer.

 

And he indicated that "the method of financing border trade in cash dollars, to which large patterns of small cross-border trades are accustomed, has also been subject to the same restriction through the compliance platform related to cash dollar sales, which fed border trade exchanges, which the trade pattern used to finance in cash as a primitive but accelerated method in Securing financing for fast-moving consumer goods such as vegetables, fruits and other processed commodities from neighboring countries and through border trade.

 

He added, "While the available financing controls, many of them cannot be covered by transfers through the mechanisms of the compliance platform for reasons related to the economic boycott or regional tensions and many factors for some of the major neighboring countries exporting and supplying Iraq with these goods, which creates pressure on the parallel exchange market."

 

And the financial and economic advisor to the Prime Minister continued, "Despite the foregoing, the procedures related to the flow of capital outside the country have not yet become clear, and its transactions are still rejected (usually) despite the legal availability provided by Article 28 of the Central Bank of Iraq Law No. 56 of 2004, which allows for unconditional soft transfer of external transfer.

 

Saleh revealed that “the (customary) rejection over the past twenty years has encouraged the phenomenon of capital flight through violations that were committed through import transactions of goods and services, which were represented in two forms of violations, the first: exaggerating the prices of imported materials and the second, by imposing requests Capital transactions that are not permitted by custom or even legally with current account transactions (and I mean import transactions of goods and services), that is, without knowing the final beneficiary of the external transfer due to the lack of detection of that merger, which caused problems with global compliance circles in inquiring about the fate of the transferred foreign currency and the beneficiaries thereof. actually".

 

The financial and economic advisor to the Prime Minister concluded by saying, "Changing the habits and patterns of importing fast-consumable commodities within compliance controls in our country that imports small and large via border trade requires some time to organize and adapt according to the international compliance system, and that the central bank's packages that are launched in order to facilitate external transfer." It works to stabilize the exchange market, some of which touch the transfers of the financial or capital account from the external transfer within the legal and accepted limits.

[6ly410]

Al-Sudani advisor: Exchange rate fluctuations in the parallel market "a temporary matter"

Al-Eqtesadat News Agency - Al-Sudani Advisor: Exchange rate fluctuations in the parallel market are "an interim matter" (economy-news.net)

  

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Economy News - Baghdad

Prime Minister Mazhar Mohammed Saleh's financial adviser said Saturday that local banks' compliance with global compliance conditions and controls is "constantly improving."

Saleh added in an interview with the agency "Baghdad Today", and followed by "Economy News", that "what is happening from fluctuations in the exchange rate in the parallel market is a temporary matter."

He continued, "This interim matter is until the total stability in the convergence of exchange rates at the equilibrium point in all markets, and the current price fluctuations are an expression of a temporary stage of adaptation to compliance and discipline and require some time."

89 views

Added 2023/03/04 - 8:17 PM

[6ly410]

Mazhar Muhammed Salih, the prime minister's financial and economic adviser, said on Saturday that the dollar's rise against the Iraqi dinar is timely and ending, in a way that will stabilize the markets.

[6ly410]

Cabinet Decision to Publish the Use of Point of Sale (POS) Devices and Implementation Requirements

Al-Eqtesadat News Agency - The decision of the Council of Ministers to publish the use of point-of-sale (POS) devices and implementation requirements (economy-news.net)

Referring to the decision of the Council of Ministers to spread the use of point-of-sale (POS) devices widely in financial transactions and the transition from the monetary society to the non-cash society in line with what is stated in the government program to develop banking and the Prime Minister's affirmation during his meeting with a delegation from Visa International to proceed with plans for financial inclusion and digitization of banking transactions in a way that meets international standards and specifications in force at the international level.
While we support the decision of the Council of Ministers in this regard and emphasize the need for strict commitment to the authorities contained in the implementation of the decision in accordance with the procedures and mechanisms specified in the paragraphs of the decision, we must on this occasion clarify the efforts made and made by the Central Bank since the launch of the technical revolution for digital transformation in the banking sector since 2016 in implementation of the objectives of its first and second strategies until the present time in achieving reform and banking development and with high determination and confidence in the ability of the Iraqi financial and technical cadres working in the Central Bank to Overcoming the challenges of the technical gap in the information systems that Iraq suffered from due to the repercussions of the blockade, wars, terrorism and instability during the period of the information revolution. The Central Bank has been able to overcome the challenges of digital transformation and development in banking technologies, establish infrastructure in banks and lead an advanced payment system at the level of the state's financial system.
It is certainly an important national effort for the employees of the Central Bank and banks, and this comes because of the procedures and developments carried out by the Central Bank and standing in the right direction in the darkest economic conditions suffered by our country and drawing a sound road map to catch up with technical developments in the countries of the world.
The Central Bank and the banking sector believe that the decision of the Council of Ministers is moving towards steps consistent with the Central Bank's strategy in digitizing and developing daily financial and banking transactions with the latest developments, developments and standards in the developed countries of the world in this field, but we believe that setting the implementation date on 1/6/2023 needs technical discussions with specialists in the Central Bank and electronic payment companies in the private sector in order to determine the foundations, standards and technical infrastructure and the availability of the necessary number of POS devices, which amount to Which is currently available with (8500) devices and the number of active electronic cards exceeds (15) million cards and the number of ATMs with more than 1566 ATMs It also requires large educational, media and advertising efforts and for a time that exceeds the currently specified timings and in partnership with banks, banks and electronic payment companies because the banking culture of citizens using this modern technical means to move from cash payment to payment in this way is very weak in addition to the weakness of knowledge and ways to stimulate the owners of malls, shops, services, entities and fields This type of day-to-day financial and banking transactions can be used.

There is no legislation that obliges citizens as well as service providers to apply digital transformation and motivates them to use electronic payment methods to pay bills, noting that the decision of the Council of Ministers allowed citizens to use electronic payment along with cash cash, in addition to the lack of integration of infrastructure, through networking between ministries and entities referred to in the decision. .. And the need to develop communication services and facilitate the use of Internet services.
Therefore, government support for the expansion of the use of electronic cards and points of sale requires the ministries to cooperate with the Central Bank of Iraq. We propose to develop a plan to implement the decision gradually and with time limits agreed upon by all concerned authorities in the government, the Central Bank and electronic payment companies operating for the purpose of completing the implementation requirements in full.

 

97 views

Added 2023/03/05 - 10:54 AM

 

[screwball]

16 hours ago, 6ly410 said:

This interim matter is until the total stability in the convergence of exchange rates at the equilibrium point in all markets, and the current price fluctuations are an expression of a temporary stage of adaptation to compliance and discipline and require some time."

Interesting…this is not over by a long shot 

[yota691]

The Sudanese advisor comments on the fluctuation of the dollar exchange rates in the parallel market

2023.03.09 - 14:30

 

Baghdad - Nas  

On Thursday, Mazhar Muhammad Salih, the financial advisor to the Prime Minister, Muhammad Shia’a al-Sudani, explained the fluctuation of the exchange rates of the dollar in the parallel market, while setting a condition for its approach to the official market.  

  

  

Saleh said in a statement to the official agency, followed by “NAS”, (March 9, 2023), that “if the daily sales of the Central Bank of Iraq window reach approximately $ 200 million per working day and continuously, then certainly the parallel market will shrink and the exchange rates in it will approach the market.” Fixed Central Official.  

  

He added, "This requires that the level of sales be at the aforementioned rate, and that it takes a range of days and stability and on an ongoing basis to appear."  

  

He pointed out that "the financing of foreign trade for the private sector has really adapted to the climate of the compliance platform and its controls in the matter of transparency of commercial information, especially knowing the final beneficiary of the external transfer." 

[yota691]

Sudanese advisor: The "parallel" exchange rate will approach the "official" in this case

money and business
   

Economy News _ Baghdad
Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, clarified about the fluctuation of the exchange rates of the dollar in the parallel market, while setting a condition for its approach to the official market.

 

Saleh said, "If the daily sales of the Central Bank of Iraq window reach approximately $200 million per working day and continuously, then certainly the parallel market will shrink and exchange rates in it will approach the fixed central official market." 

 

Saleh added, in an interview with the official news agency, that "this requires that the level of sales be at the mentioned rate, and that it takes a range of days and stability and continuously in order to appear."

 

He pointed out, "The financing of foreign trade for the private sector has really adapted to the climate of the compliance platform and its controls in the matter of transparency of commercial information, especially knowing the final beneficiary of the external transfer."

 

 

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Observations 401

Added 03/09/2023 - 2:22 PM

[6ly410]

 

Sudani Financial Advisor Announces the Success of the Compliance Platform

Posted 15 seconds ago\

The Sudanese financial advisor announces the success of working on the compliance platform (iraqakhbar-com.translate.goog)

  

News Source /Iraq Today Agency

Baghdad - Iraq Today:

Mazhar Mohammed Saleh, financial advisor to the Prime Minister, Mohammed Shia al-Sudani, on Thursday, on the fluctuation of dollar exchange rates in the parallel market, while setting a condition for its approach to the official market.

Saleh said in a statement to the official agency, that "if the daily sales from the window of the Central Bank of Iraq reach approximately $200 million every working day and continuously, it is certain that the parallel market will shrink and exchange rates will approach the official central fixed market.”

He added, "This requires that the level of sales be at the mentioned rate, and that it takes a period of days and stability and continuously to appear."

He pointed out that "the financing of foreign trade for the private sector has really adapted to the climate of the compliance platform and its controls on the subject of transparency of trade information, especially knowing the last beneficiary of external transfer."

[yota691]

Al-Sudani forms the “Market Council” .. his advisor reveals the suppor t of the private sector

2023-03-09 12:33

 

 

Shafaq News/ On Thursday, Mazhar Muhammad Salih, the financial advisor to the Prime Minister, Muhammad Shia'a al-Sudani, revealed the details of the government's approach to the non-private sector.

 

Saleh told Shafaq News agency, "The current approach of the government has not deviated from establishing the issue of proceeding in the national strategy for the private sector, which was approved years ago by the Council of Ministers."

 

 

Saleh added, "On the basis of which a specialized council was established in the Ministry of Planning, which included members from the private sector, and is concerned with the policies of state support for the private sector, which is what I personally call the (market council)."

 

He explained, "The council is currently coordinating with the government to raise the private sector's contribution to the gross domestic product, from less than 37% currently, to become in the next decade about 53-55% in the composition of the gross domestic product of Iraq."

 

And the financial advisor continued, "Based on the foregoing, the government curriculum included, in an explicit reference, the establishment of a number of (government development financing funds) directed at employment, investment and production in the private sector."

[yota691]

When does the budget enter into legislation and implementation at the same time? The economic advisor answers

2023.03.13 - 09:14

 

Baghdad - Nas  

Mazhar Muhammad Salih, the economic advisor to the Prime Minister, suggested that the country's general budget would enter into legislation and implementation at the same time.  

  

 

  

Saleh said in a statement to the official newspaper, followed by “Nass” (March 13, 2023), that “given that the country entered the end of the first quarter of the year 2023, and after the end of the fiscal year 2022, which was devoid of a public budget law, and contented itself with the financial management law and the emergency law for food security as an alternative.” Therefore, it has become certain that the submission of the draft federal budget law for the year 2023 will be expedited by presenting it at a meeting of the Council of Ministers for approval in principle in the coming days and sending it for legislation to the House of Representatives.  

  

And Saleh suggested that “next April will witness the entry of the country’s general budget into legislation and implementation at the same time.”  

  

For his part, Adviser to the Prime Minister Diaa al-Nasseri said, "The budget for the current year will be approved and will see the light in a special session of the Council of Ministers to be held (today, Monday)," adding that "the budget for the current year is expected to be a smart budget and a project budget."  

  

For his part, the former director of the Office of Financial Supervision, Salah Nuri, confirmed that “the features and data of the budget indicate that it will be more operational, due to the large number of appointments it included, the confirmation of contracts and other holders of higher degrees, and the confirmation of the first.”  

  

He pointed out that “even if an investment budget is issued in the country, implementation is always low, as over many years its investment implementation does not exceed 40 percent of the original allocations, and what matters to us is implementation even if the budget was issued with a deficit.”  

  

In addition, a member of the Parliamentary Finance Committee, Mueen Al-Kadhimi, said: “The government of Prime Minister Muhammad Shia’a Al-Sudani made appointments that represented the transfer of contractors to permanent staffing,” noting that “the draft federal budget law for the year 2023 will be devoid of new job grades, with the exception of the degrees of deletion and replacement that It will be available after retiring a large number of employees during the current year,” according to the newspaper.  

  

Yesterday, Sunday, the Ministry of Finance completed the draft federal budget law for the current year 2023 and sent it to the Council of Ministers for the purpose of holding a special session to vote on it, at a time when Diaa Al-Nasseri, Advisor to the Prime Minister, announced that the Council will hold a special session to discuss the budget today, Monday, and send it after voting to the Council. deputies.  

  

Finance Minister Taif Sami said, in a statement: “The draft federal budget law for the year 2023 was completed and sent to the Council of Ministers for the purpose of discussing and voting on it,” noting, “The completion of preparing the project comes under exceptional circumstances in the global economy, and it came to deal with With the effects of international, regional and local economic challenges. She added, "The next draft budget will focus on development priorities, support for the social protection network, and the most needy groups," noting that "providing a safe cover for strategic and sustainable development projects."  

  

She emphasized, "We have worked throughout the past months of the new government's life to extract a budget that responds to the needs of the Iraqi economy and is consistent with the plans of the government curriculum and the package of financial and economic reforms that the ministry is working to achieve."

[yota691]

After setting the date for its approval.. The Sudanese advisor announces the content of the budget

• Time: 03/12/2023 17:05:14
•  
• Read: 6,669 times

  

{Economic: Al Furat News} The economic and financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Sunday, the most prominent items that will be included in the federal budget for the fiscal year 2023.

 

Saleh told Al-Furat News that: "Social spending, according to the government program approved by parliament last October, is the most prominent issue in the operational side of the budget."
"What is meant here is social welfare and combating poverty and unemployment," he added.
Saleh continued, "As for the investment side, infrastructure or basic services will have priority, especially municipal services related to people's lives, such as water and sewage networks, roads, schools, hospitals, and others."
 And the advisor to the Prime Minister, Diaa Al-Nasseri, announced that the draft budget law for the current year 2023 "will be approved in a special session of the Council of Ministers tomorrow, Monday."
And the Minister of Finance, Taif Sami, announced today, Sunday, the completion of the draft federal budget law for the year 2023 and sending it to the Council of Ministers for the purpose of discussing and voting on it. As well as providing a safe cover for strategic and sustainable development projects.

From: Raghad Dahham

[yota691]

The Sudanese advisor is surprised by the approval of a tripartite budget: a violation of the Financial Management Law

2023-03-13 07:56

 

 

Shafaq News/ The financial advisor to the Prime Minister, Mazhar Muhammad Salih, saw on Monday that the Council of Ministers' approval of the draft budget law for the fiscal years 2023, 2024, and 2025 is an incorrect procedure.

 

In an interview with Shafaq News agency, Saleh said that the financial management law confirms the annuality of the budget (year after year). It is possible for the Council of Ministers to present a financial plan for three years, and not for three annual budgets.

 

 

 

Regarding the approval of the tripartite budget bill, Saleh said, "It does not change when it approves a law, but the financial plans are estimates that can be modified," pointing out that "what it came up with is a financial plan for the coming years, and it remains financial estimates that have no commitment and they talk about a financial future."

 

He added, "The ceiling of public spending in the budget for the year 2023 is less than 200 trillion dinars, taking into account two issues, namely the planned deficit. At the same time, there are surplus resources for the fiscal year 2022, and these surplus resources are estimated at between 25 to 30 trillion dinars, which will reduce the deficit."

The Iraqi Council of Ministers had approved the draft federal budget law for the years 2023, 2024, and 2025, in a procedure that is the first of its kind.

 

The decision comes despite the fact that the Federal General Budget Law made it clear that the financial plan expresses what the state intends to do in terms of programs and projects, including planning tables for estimating revenues and estimating expenditures, both current and investment, for one fiscal year to be specified in the Federal General Budget Law.

 

The value of the budget amounted to 200 trillion dinars (about 140 billion dollars), which is the largest value in the history of Iraq.

[yota691]

Adviser to the Prime Minister calls for offering “licensing rounds” in the agricultural sector

Economical  2023/03/14

 

 

 Baghdad: Hussein Thaghb Al-Tamimi

 

The financial advisor to the Prime Minister, Dr. The appearance of Muhammad Salih to create agricultural sovereignty in Iraq, through the formation of major agricultural companies that offer licensing rounds similar to the oil sector. 

Saleh said to "Al-Sabah" on the sidelines of the Baghdad Economic Forum symposium, which was titled "The Advancement of the Iraqi Agricultural Sector and Future Challenges - A Realistic View and How to Transform Towards a Green Economy," that "the next stage requires serious work that achieves a serious economic renaissance, investors, the ingredients for advancement, as the sector represents Agriculture is the basis for achieving sustainable development," pointing out that "the country needs the effort of first-world companies to supply advanced technology and advanced expertise that can create an agricultural sector that supports the goals of sustainable production that protects the national economy." 

The head of the Baghdad Economic Forum, Fares Al Salman, stressed in an interview with "Al-Sabah" the "inevitability of moving towards advanced technologies in all stages of the production process in the agricultural sector, which can take into account the lack of water revenues." 

And he warned about "the importance of addressing remote sensing by means of satellites, as the need for it in Iraq has become urgent, especially since today it is an inexpensive technology for a country like Iraq, where the cost of the satellite ranges from 4-5 million dollars, while the launch cost does not exceed 25 million dollars." This helps in drawing up a water map and a projects map." 

In turn, the advisor to the Minister of Agriculture, Mahdi Damad Al-Qaisi, stressed, "The need to stand at the market's food supplies, to know what kind of food the citizen eats in light of the random import, which is now negatively affecting the health of the citizen and the Iraqi economy." 

Al-Qaisi said: "The Dutch experience in agriculture is more perfect and developed in the world, and bilateral partnerships can be established between the local private sector and its Dutch counterpart with the guarantee of the two governments, and this serves the trends that support the agricultural renaissance, especially since Iraq has scientists who can solve all problems." 

He pointed out that "the development and growth of the agricultural sector achieves sustainable agricultural development, which will be effective in strengthening the national economy by increasing the gross domestic product, as it is the engine of most activities, especially industrial ones. It is also a major contributor to national security by creating job opportunities to absorb unemployment, reduce the volume of imports, and create social stability, in addition to being a major contributor to health security, since most diseases of the age are linked to food. 

He pointed out that the most important challenges facing the agricultural sector are represented by climatic changes represented by the lack of rain and high temperatures, the lack of water revenues and their continuous decrease from neighboring countries, and the deterioration of most agricultural lands, especially in central and southern Iraq as a result of high salinity, and soil waterlogging, which caused a decrease in the productivity of agricultural crops. In addition to the low productivity of livestock, the cessation of most of its projects, the limited agricultural investment and the contribution of the private sector in agricultural activities, despite its primary role in agricultural manufacturing industries, agricultural supplies and services, and others.

He pointed out that "the priorities required to be initiated for the advancement of the agricultural sector require the advancement of the water and environment axis, the most important of which is the construction of plugs and regulators that raise the water level in southern Iraq and in the tails of canals to prevent the drainage of surplus water in sewers, and the investment of groundwater and under the supervision of the Ministry of Water Resources," stressing "reconsideration With strategic agricultural plans according to climate changes, water scarcity and global variables, and direct coordination with ministries, concerned authorities and the private sector to upgrade projects supporting the agricultural sector, as well as developing an investment map for agricultural projects and supporting them according to priorities, and coordination with international and Arab organizations according to memorandums of understanding and joint agreements to transfer and localize technology for activities agricultural sector and its support. 

Agricultural expert Hadi Hindas pointed out, "The possibility of manufacturing agricultural equipment and equipment, and we must go to establish factories in Iraq with production rates that cover Iraq's need, and here the public and private sectors must think about this issue, and actually start manufacturing these systems in particular." 

[yota691]

The Sudanese advisor explains the fate of the amounts allocated to the governorates that have not been disbursed

2023.03.17 - 11:15

 

Baghdad - Nas  

On Friday, the Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, clarified the fate of the sums allocated to the governorates that were not disbursed.  

  

  

  

Saleh said, in a statement to the official agency, followed by "NAS", (March 17, 2023), that "the circulation of the amounts allocated to the governorates for investment spending purposes, which could not be disbursed during the fiscal year, was included in the draft federal budget law for the year 2023, which is a flexible and unrestricted mechanism that allows the governorates Conducting financial transactions within its annual allocations related to investment spending on projects.  

  

He added, "The Financial Management Law in force No. 6 of 2019 and amended in 2020 took the issue of unspent allocated financial allocations to the governorates by preserving their rights in allocation in order to sustain spending on investment projects without delay or delay."  

[yota691]

Al-Sudani's advisor: The "triennial" budget is subject to change depending on the economic situation

2023-03-18 07:28

 

 

Shafaq News/ The financial advisor to the Prime Minister, Mazhar Muhammad Salih, reduced, on Saturday, the fears of approving 3-year budgets, due to the instability of dollar prices and fears that they would not meet the basic entitlements of the state and the citizen in the life joints.

 

 

Saleh told Shafaq News agency, "The presentation of a federal public budget for three years, which is a (financial plan), came in line with the Federal Financial Management Law, as Article 4/Second of the Federal Financial Management Law allowed the executive authority to present a picture of a (cascading) budget for three years. Once, provided that the budget for the first year is enacted and approved for implementation inevitably.

He stressed that "the budget for the two subsequent years after their legislation is subject to change and amendment by the executive authority, provided that the House of Representatives approves the amendments required by the circumstances of the amendment at the time, depending on the financial and economic situation of the country."

 

Saleh added, "The executive authority has sought, behind this, to give sufficient flexibility to avoid problems that impede the approval of the budget in the coming years, whether what happened in caretaker governments, for example, or other legislative obstacles, in addition to following the so-called (budget transparency), which is giving A future vision on the priorities of the country's financial situation in the medium term, in accordance with the implementation of the principles of the government program for the coming years.

 

And he indicated that “(the annual general budget) came clear and explicit in the text of Article 1/Second of the enforceable Federal Financial Management Law No. 6 of 2019 as amended, and it is a (obligatory) year, also beginning as stated in the provisions of the above law as a fiscal year starting on 1/1 of each fiscal year ending on 31/12 of the same fiscal year. 

 

The Iraqi debate continues regarding the Iraqi government's approval of the country's financial budget for a period of 3 years, which is happening for the first time since 2003, as previous governments used to prepare the budget for a period of one year and send it to Parliament to take its way to implementation after its approval.

 

Although the "triple" budget still needs to be approved in parliament, the debate is divided between two main directions. The first represents the government and its political parties and blocs, while the other represents economic trends that it believes are risky and are not consistent with the budget law and the context of rents on which the Iraqi economy is based.

 

And Prime Minister Muhammad al-Sudani said, the day after the budget was approved by the Council of Ministers, last Monday: “The budget for the years 2023, 2024, and 2025 has been approved, and this is the first budget prepared by the government, and it received enough time for research and discussion, in a way that guarantees the implementation of the government program.”

 

Al-Sudani believed that approving a three-year budget is "a bold step that is calculated for this government, and its importance lies in supporting financial stability, as ministries usually enter a stage of hibernation at the end and beginning of the year until the budget is approved."

[yota691]

Mazhar Saleh: There are no concerns about the "triple" budget, and it may change

Economical  2023/03/19

 

 

 Baghdad: morning

 

On Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, reduced the fears of approving 3-year budgets, due to the instability of dollar prices and fears that they would not meet the basic entitlements of the state and the citizen in the joints of life.

 

Saleh said, “The presentation of a federal general budget for three years is a (financial plan) that came in accordance with the Federal Financial Management Law, as Article 4/Second of the Federal Financial Management Law permitted the executive authority to present a picture of a (cascading) budget for three years presented once, on The budget for the first year should be legislated and approved for implementation inevitably.

 

He stressed that "the budgets of the two subsequent years after their legislation are subject to change and amendment by the executive authority, provided that the House of Representatives approves the amendments required by the circumstances of the amendment at the time, depending on the financial and economic situation of the country."

 

Saleh added, "The executive authority sought, behind this, to give sufficient flexibility to avoid problems that impede the approval of the budget in the coming years, whether what happened in caretaker governments, for example, or other legislative obstacles, in addition to following the so-called (budget transparency), which is Giving a future vision of the priorities of the country's financial situation in the medium term and in accordance with the implementation of the principles of the government program for the coming years.

 

And he indicated that “(the annual general budget) came clear and explicit in the text of Article 1/Second of the Federal Financial Management Law in force No. 6 of 2019 as amended, and it is a (obligatory) year, also beginning as stated in the provisions of the above law as a fiscal year starting on 1/1 of each fiscal year ending on 31/12 of the same fiscal year. 

 

The Iraqi debate continues regarding the Iraqi government's approval of the country's financial budget for a period of 3 years, which is happening for the first time since 2003, as previous governments used to prepare the budget for a period of one year and send it to Parliament to take its path to implementation after its approval.

 

Although the "triple" budget still needs to be approved in parliament, the debate is divided between two main directions. The first represents the government and its political parties and blocs, while the other represents economic trends that it believes are risky and are not consistent with the budget law and the context of rents on which the Iraqi economy is based.

 

And Prime Minister Muhammad al-Sudani said, the day after the budget was approved by the Council of Ministers, last Monday: “The budget for the years 2023, 2024, and 2025 has been approved, and this is the first budget prepared by the government, and it received enough time for research and discussion, in a way that guarantees the implementation of the government program.”

 

Al-Sudani believed that approving a three-year budget is "a bold step that is calculated for this government, and its importance lies in supporting financial stability, as ministries usually enter a stage of hibernation at the end and beginning of the year until 

Approval of the budget.

[6ly410]

Advisor to Sudani warns of adjusting the price of oil in the budget and repeating the theft of the century

•  Time : 2023/03/24 01:19:43
•  Advisor to Al-Sudani warns of adjusting the price of oil in the budget and repeating the theft of the century - Al-Furat News (alforatnews.iq)

  

Mazhar Mohammed Saleh, financial and economic adviser to Prime Minister Mohamed Shia al-Sudani, warned against reviewing and adjusting the price of a barrel of oil in the fiscal budget.

 

 

Saleh said in a program {before suhoor} broadcast by the Euphrates satellite channel after midnight: "There is a fear of a decline in the price of oil, but reviewing the price of a barrel of oil in the budget means sacrificing contract holders or a million citizens scheduled to be included in social welfare or the abolition of development funds and I think that the latter will be sacrificed by any decline in oil, which is a loss for Iraq."
"I think it is possible to maintain the price of oil in the budget," he said, noting that "the decline in oil prices will shake the international monetary system."
On the salary scale, Saleh said: "There is a rigid trend to reduce the upper salaries and raise the minimum salaries, and the other trend is to raise the lower grades only," pointing out that "the Kurdistan region has reached a stage that it must be agreed with Baghdad and leave the price maneuvers and I think that things are heading towards détente."
He pointed out that "the Iraqi reserve amounts to $ 115 billion, half of which is from the US dollar and the rest from other currencies."
"The distribution of salaries in dollars is a bad thing, but it can be in emergency cases, provided that America equips us with sufficient amounts of currency to cover operational expenses, thus ending the problem of the dollar rate difference between the official and the parallel," the Sudanese adviser promised.
"We support the amendment of the white paper and it be part of an economic policy," he said.
On the theft of tax trusts {theft of the century}, Saleh said: "The theft of the century is systemic corruption, which is the most dangerous and the application of the law remains in the hands of the judiciary," likely "may repeat the theft of the century in the future, especially since Iraq's institutions producing revenues are all vulnerable to corruption."
He noted that "the circle surrounding former Finance Minister Ali Allawi participated in stealing the century with or without his knowledge. I don't know, and it is said that the amount of theft of the century is more than advertised and the government contracted with a foreign consulting firm to investigate the stolen funds."
Between September 2 and August 5, $2021.2022 billion was paid through 247 instruments disbursed by five companies, and then the money was withdrawn in cash from the accounts of these companies, whose owners are subject to arrest warrants.
Saleh predicted "lower oil prices, which is possible."
"Iraq has lost many opportunities, and although it is a wealthy country, it has not created market institutions," he said.
Saleh said: "Finance Minister Taif Sami is a store of financial information with a strong knowledge and personality, and she was a finance minister before she took office."
 

 

[new york kevin]

Americans are waiting for the RV as well.

[southbeach]

6 hours ago, new york kevin said:

Americans are waiting for the RV as well.

The whole of Europe just as much.