Iraqi government spokesman: We are close to an agreement on the oil and gas law

[6ly410]

Sudani to Rudaw: A comprehensive agreement to resolve all outstanding problems between Baghdad and Erbil

Sudani to Rudaw: A comprehensive agreement to solve all problems...| Rudaw.net (rudawarabia.net)

 

6 hours ago

Anmar Ghazi

 

 

IRAQ

Iraqi Prime Minister Mohammed Shia al-Sudani
announced that "a comprehensive agreement has been reached to resolve all outstanding problems between Baghdad and Erbil," noting that an agreement has been reached between the two sides on oil and gas.

Prime Minister Mohammed Shia al-Sudani told Rudaw Media Network at a press conference on Monday (March 13, 2023): "We came out with a comprehensive agreement to resolve all outstanding problems between Baghdad and Erbil, and the approval of both sides was obtained regarding the oil and gas file."

The Prime Minister pointed out that "the total budget for 2023 is 197 trillion and 828 billion dinars," while the deficit ratio is "63 trillion and 275 billion dinars," explaining that the price of oil in the budget was calculated on the basis of $ 70 per barrel.

"There is no political party in the State Administration Coalition that does not have a minister in this government," he said, noting that the budget bill has been agreed upon by the State Administration Coalition, which is politically supported.

Regarding the percentage of the Kurdistan Region, he pointed out that it is "12.6%, and this is agreed upon by all political forces through a series of meetings held previously."

On the revenues of the Kurdistan Region's oil, he explained that "it was agreed to deposit the total revenues for the export of crude oil without deductions, and the President of the Kurdistan Region or his authorized representative is authorized to disburse, and the federal government monitors the bank account."

Al-Sudani announced "the establishment of a fund worth 500 billion dinars to support the displaced and return them to their areas and rehabilitate them," in addition to "the establishment of a fund to support the poorest governorates."

Al-Sudani confirmed that the government will give "sovereign guarantees to the private sector to implement projects in the industrial sector," and will work to "establish the Iraq Fund for Development worth one trillion dinars directed to the private sector."

The prime minister stressed that the government "will vigorously defend the draft budget and is ready to sit down with members of the House of Representatives to discuss it in a responsible atmosphere."
 

The Iraqi Council of Ministers, in its session today, approved the draft general federal budget law for the years 2023, 2024 and 2025, and referred it to the Council of Representatives.

According to a statement by the Prime Minister's Media Office, al-Sudani confirmed that "the ministries of finance and planning can make amendments with the approval of the House of Representatives in the event of changes in numbers, oil prices or quantities."

The Council of Ministers also approved a draft law establishing the province of Halabja in the Republic of Iraq and referred it to the Council of Representatives in order to do justice to this city and to honour its martyrs.

Below is the text of the statement:

Prime Minister Mohamed Shia Al-Sudani chaired, on Monday, the eleventh regular session of the Council of Ministers.

The session witnessed the approval of the draft federal budget law for the years 2023, 2024 and 2025, and its referral to the House of Representatives.

At the beginning of the session, the Prime Minister stressed the government's keenness to make the budget a reflective mirror of the government program voted on by the House of Representatives.

He pointed out that this budget will be repeated for three years, in accordance with the Financial Management Law No. 6 of 2019, which allowed the Council of Ministers to submit a budget for three years, stressing that the Ministries of Finance and Planning can make amendments and with the approval of the House of Representatives in the event of changes in numbers, oil prices or quantities.

The Prime Minister explained that these steps have been taken by the government based on its confidence in the vision and approach it holds, and has set its objectives in advance and developed this budget in detail, and we will finish the disabled process of all development and construction facilities, as ministries are usually paralyzed before the end of the fiscal year, which disrupts work and then another semester begins until the approval of the new budget.

The Cabinet also considered the files and issues on its agenda and took the necessary decisions thereon.

With the approaching anniversary of the Halabja tragedy, the Council of Ministers approved the draft law establishing the Halabja Governorate in the Republic of Iraq and referred it to the Council of Representatives, in order to do justice to this city and to honour its martyrs.

The Council of Ministers also approved the Ministry of Finance's funding of 5 billion dinars to the Sunni Endowment Office for the purposes of supporting community reconciliation, from the actual expenditure of the Endowment Office for the previous year.

In the field of reconstruction and infrastructure, the Cabinet approved the assignment of a public company affiliated with the Ministry of Construction, Housing, Municipalities and Public Works to implement the Daquq Bridge project, as an exception to the contracting methods stipulated in the instructions in force.

[cranman]

All these statements about the budget being good for the next 3 years is a surprise to me. Anyone else?

 

This has to bode well for the dinar.

The economy should explode on many fronts. 

 

JMO

[6ly410]

The Iraqi council of ministers approved the 2023 budget bill

[cranman]

@6ly410 You are on a roll today. Don't stop!

[6ly410]

Press Conference

Sudani: I will ask the parliament to attend the second session to read the budget

 

Politics | Today, 16:32 | 

Sudani: I will ask the parliament to attend the second session to read the budget » Baghdad Today News Agency

    

 

Baghdad Today - Baghdad

Prime Minister Mohamed Shia al-Sudani revealed on Monday that he had submitted a request to parliament to attend the second session to read the budget.

The prime minister said in a press conference followed by (Baghdad Today), that "the priorities of the government program will be present in the 2023 budget," pointing out that "the three-year budget supports financial stability."

He added that "the ministries enter at every beginning and end of the year in a hibernation phase until the adoption of the new budget," noting: "We are in front of a stable budget for three years."

He pointed out that "benefits have been secured for all contracts, lecturers and higher certificates in the budget," adding: "We have put in the budget practical measures, including increasing the area of coverage in the protection network."

He stressed that "with the adoption of the budget, the social aid will be disbursed," noting that "for the first time, a fund is established for the poorest governorates," explaining, "I will ask Parliament to attend the second session to read the budget."

"This fund will address the poverty situation in these provinces," he said, noting that "in this budget, we have maintained support for the liberated provinces and allocated 500 billion dinars to secure service projects and support displaced families."

He pointed out that "a fund was established to support the Sinjar district and the Nineveh Plains, and we allocated 50 billion dinars," explaining that "one of the reasons for delaying the adoption of the budget was also the understanding with the Kurdistan region."

On the Kurdistan region, Al-Sudani said, "We have reached a comprehensive agreement on outstanding issues between Baghdad and Erbil," noting that "for the first time, the total revenues of the oil produced in the region are deposited in a bank account in which they are deposited under federal administration."

He pointed out that "the understandings between Baghdad and Erbil were clear points," stressing that "in the event of any differences between Baghdad and Erbil, there is a committee that submits its recommendations to the federal prime minister."

He pointed out that "these understandings between Baghdad and Erbil confirm the progress of the two parties towards the adoption of the oil and gas law."

He pointed out that "the total budget amounts to more than 197 trillion dinars," stressing that "the operating budget amounts to more than 150 trillion dinars."

He added that "the investment budget is more than 47 trillion," noting that "the budget deficit is 63 trillion dinars."

[Dretown39]

4 minutes ago, cranman said:

All these statements about the budget being good for the next 3 years is a surprise to me. Anyone else?

 

This has to bode well for the dinar.

The economy should explode on many fronts. 

 

JMO

I'm totally shocked first because I thought they would continue to drag on..then this approving funds for the next 3 years! It would seem Hcl should follow closely. Hopefully it won't stall in Parliament. Either way hopefully soon what we're waiting on will materialize for us!🙏

[cranman]

3 minutes ago, 6ly410 said:

Press Conference

Sudani: I will ask the parliament to attend the second session to read the budget

 

Politics | Today, 16:32 | 

Sudani: I will ask the parliament to attend the second session to read the budget » Baghdad Today News Agency

    

 

Baghdad Today - Baghdad

Prime Minister Mohamed Shia al-Sudani revealed on Monday that he had submitted a request to parliament to attend the second session to read the budget.

The prime minister said in a press conference followed by (Baghdad Today), that "the priorities of the government program will be present in the 2023 budget," pointing out that "the three-year budget supports financial stability."

He added that "the ministries enter at every beginning and end of the year in a hibernation phase until the adoption of the new budget," noting: "We are in front of a stable budget for three years."

He pointed out that "benefits have been secured for all contracts, lecturers and higher certificates in the budget," adding: "We have put in the budget practical measures, including increasing the area of coverage in the protection network."

He stressed that "with the adoption of the budget, the social aid will be disbursed," noting that "for the first time, a fund is established for the poorest governorates," explaining, "I will ask Parliament to attend the second session to read the budget."

"This fund will address the poverty situation in these provinces," he said, noting that "in this budget, we have maintained support system" rel="">support for the liberated provinces and allocated 500 billion dinars to secure service projects and support system" rel="">support displaced families."

He pointed out that "a fund was established to support system" rel="">support the Sinjar district and the Nineveh Plains, and we allocated 50 billion dinars," explaining that "one of the reasons for delaying the adoption of the budget was also the understanding with the Kurdistan region."

On the Kurdistan region, Al-Sudani said, "We have reached a comprehensive agreement on outstanding issues between Baghdad and Erbil," noting that "for the first time, the total revenues of the oil produced in the region are deposited in a bank account in which they are deposited under federal administration."

He pointed out that "the understandings between Baghdad and Erbil were clear points," stressing that "in the event of any differences between Baghdad and Erbil, there is a committee that submits its recommendations to the federal prime minister."

He pointed out that "these understandings between Baghdad and Erbil confirm the progress of the two parties towards the adoption of the oil and gas law."

He pointed out that "the total budget amounts to more than 197 trillion dinars," stressing that "the operating budget amounts to more than 150 trillion dinars."

He added that "the investment budget is more than 47 trillion," noting that "the budget deficit is 63 trillion dinars."

1st read!

[Fairways&Greens]

I assume the budget is based on IQD at 1310? Who’s good at maths? Quick! What would the value be after the project to delete the zeros?!

 

Is it .76 cents? 😎

[keylime]

Al-Sudani: We agreed with Erbil to deposit all oil revenues in one account

Al-Sudani: We agreed with Erbil to deposit all oil revenues in one account

3-13-2023

Information / Baghdad..
Prime Minister Muhammad Shia al-Sudani determined, on Monday, the percentage of the Kurdistan region in the tripartite budget, referring to understandings with Erbil regarding oil revenues.

“The reasons for the delay in approving the budget was the understanding with the Kurdistan region,” Al-Sudani said in a press conference, followed by Al-Malooma, adding, “We reached a comprehensive agreement on the outstanding issues between Baghdad and Erbil.”

And he warned that “for the first time, the total revenues of the oil produced in the region are deposited in a bank account in which it is deposited and is subject to federal administration, and in the event of any differences between Baghdad and Erbil, there is a committee that submits its recommendations to the federal prime minister.”

He pointed out that “the share of the Kurdistan region in the budget amounts to 12.6%,” stressing that “these understandings between Baghdad and Erbil confirm the two parties’ progress towards approving the oil and gas law.”

almaalomah.me

[Half Crazy Runner]

1 minute ago, Fairways&Greens said:

I assume the budget is based on IQD at 1310? Who’s good at maths? Quick! What would the value be after the project to delete the zeros?!

 

Is it .76 cents? 😎

That’s the amount I get as well,  .76¢  and that is extremely fine by me!! 

[Fairways&Greens]

1 minute ago, Half Crazy Runner said:

That’s the amount I get as well,  .76¢  and that is extremely fine by me!! 

No hesitation from me…cash it all in!

[Officiallytook]

I'll wait for a stable 3$ to 1 iqd maybe take 50k around 1$-1iqd

[dinarham]

  Well, If that was the only reason , Boom!

[keylime]

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

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

2023-03-13 04:56

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.

shafaq.com

[keylime]

After years of disagreement.. Al-Sudani announces an agreement to solve problems with the Kurdistan Region

After years of disagreement.. Al-Sudani announces an agreement to solve problems with the Kurdistan Region

2023-03-13 06:27

Shafaq News/ The Prime Minister, Muhammad Shia’ al-Sudani, announced, on Monday, that an agreement had been reached to end the dispute between Baghdad and Erbil over Kurdistan Region’s oil revenues.

“An agreement was reached to solve the problems between the center and the region regarding oil and gas by putting the revenues from the region’s oil in a bank,” Al-Sudani said during a press conference held today after the cabinet session, which was attended by Shafaq News agency.

He added, “For the first time, we reached an agreement that the region’s oil revenues be deposited in one account and authorize the region’s prime minister and the federal prime minister to monitor the account, and there will be a committee that will submit its recommendations to the federal prime minister to take the appropriate decision.”

The oil export and revenue file in the Kurdistan Region is one of the most prominent points of contention between Baghdad and Erbil, and it was usually used as a card for political escalation when relations between the center and the region soured.

The dispute over this file escalated after the Federal Supreme Court (the highest judicial authority in Iraq) issued on February 15, 2022 a ruling that the oil and gas law in the Kurdistan Regional Government was unconstitutional.

The Federal Court obligated the Kurdistan Regional Government to hand over oil imports to Baghdad, which sparked angry reactions from the region during a period that was essentially serious political tension, as the ruling was issued in conjunction with the height of the political impasse that followed the early elections in October 2021.

shafaq.com

[keylime]

Al-Sudani reveals the reasons for approving the tripartite budget and confirms its legality

Al-Sudani reveals the reasons for approving the tripartite budget and confirms its legality

2023-03-13 06:10

Shafaq News/ On Monday, the Prime Minister, Muhammad Shia’a Al-Sudani, revealed the details of approving bills for three financial budgets, and while confirming the legality of this procedure, he announced the allocation of funds for the Sunni endowment to support community reconciliation.

The media office of the Prime Minister stated, in a statement received by Shafaq News agency, that Al-Sudani chaired the eleventh regular session of the Council of Ministers, and the session witnessed the approval of the draft general federal budget law for the years; 2023, 2024, 2025, and referring it to Parliament.

At the outset of the session, the Prime Minister affirmed the government’s keenness to ensure that the budget reflects the government program voted on by Parliament.

He pointed out that this budget will be repeated for three years, in accordance with Financial Management Law No. 6 of 2019, which authorized the Council of Ministers to submit a budget for three years, stressing that the Ministries of Finance and Planning can make amendments and with the approval of Parliament in the event of changes in numbers, oil prices or quantities. .

Al-Sudani explained that these steps have been taken by the government based on its confidence in the vision and the approach that it carries, and it has defined its goals in advance and set this budget in its details, and we will finish the process that stalls all development and construction facilities, as ministries are usually paralyzed before the end of the fiscal year, which disrupts work and then begins. Another chapter pending approval of the new budget.

The Council of Ministers also considered the files and issues on its agenda, and took the necessary decisions in this regard.

Where the Council of Ministers agreed to finance the Ministry of Finance, an amount of 5 billion dinars, to the Sunni Endowment Office for the purposes of supporting societal reconciliation, from the actual expenditure of the Endowment Office for the previous year.

In the field of construction and infrastructure, the Council of Ministers agreed to assign a public company affiliated to the Ministry of Construction, Housing, Municipalities and Public Works, to implement the Daquq Bridge project, as an exception to the contracting methods stipulated in the instructions in force.

shafaq.com

[Half Crazy Runner]

37 minutes ago, keylime said:

and the session witnessed the approval of the draft general federal budget law for the years; 2023, 2024, 2025, and

Has this ever had before?? In all the (way too many) years I’ve been following the Iraq news here, I’ve never seen a 3-year budget… 

[keylime]

8 minutes ago, Half Crazy Runner said:

Has this ever had before?? In all the (way too many) years I’ve been following the Iraq news here, I’ve never seen a 3-year budget… 

This is the first time. 

[WheresmyRV?]

41 minutes ago, Half Crazy Runner said:

Has this ever had before?? In all the (way too many) years I’ve been following the Iraq news here, I’ve never seen a 3-year budget… 

I've never seen this before, has to be the first time.

[Fairways&Greens]

1 hour ago, Half Crazy Runner said:

Has this ever had before?? In all the (way too many) years I’ve been following the Iraq news here, I’ve never seen a 3-year budget… 

Well, at least we won’t have to watch paint dry for the next 3 years when it comes to the budget. 🤪

 

and just maybe we can all cash out soon and never have to read about Iraq ever again. 😅

[yota691]

The Council of Ministers votes on the largest budget in the country's history

Iraq  2023/03/14

 

 

 Baghdad: Hoda Al-Azzawi and Shaima Rashid

In a precedent that is the first of its kind in the history of Iraq, the Council of Ministers voted, yesterday, Monday, on the draft federal budget law for (3) fiscal years, which are 2023, 2024 and 2025, and the Council, in its regular session that it held under the chairmanship of Prime Minister Muhammad Shia Al-Sudani, referred the draft budget to Parliament, and the total expenditures in the draft budget are more than 197 trillion dinars, which is the largest in the history of the country.

Prime Minister Muhammad Shia al-Sudani said, in a press conference yesterday, Monday: "The priorities of the government program will be present in the 2023 budget," noting that "the three-year budget supports financial stability."

 

 He added that "the ministries enter at the beginning and end of a year with a stage of hibernation until the new budget is approved," noting, "We are facing a stability of the budget for a period of three years." The budget is practical measures, including increasing the coverage area in the protection network.

He stressed that "with the approval of the budget, the social aid will be disbursed," noting that "for the first time a fund has been established for the poorest governorates." An amount of 500 billion dinars to secure service projects and support displaced families.”

 

agreement with the province

And on the Kurdistan region, Al-Sudani confirmed, “We reached a comprehensive agreement on the outstanding issues between Baghdad and Erbil,” noting that “for the first time, the total revenues of oil produced in the region are deposited in a bank account in which it is deposited and is subject to federal administration,” and that “the understandings between Baghdad and Erbil were with clear points.” ", stressing that "in the event of any differences between Baghdad and Erbil, there is a committee that submits its recommendations to the federal prime minister," and pointed out that "these understandings between Baghdad and Erbil confirm the two parties' progress towards approving the oil and gas law," and added that "the share of the Kurdistan region in the budget amounts to 12.6%.

 

The budget in numbers

He pointed out that "the total budget amounts to more than 197 trillion dinars," stressing that "the operational budget amounts to more than 150 trillion dinars," and added that "the investment budget is more than 47 trillion," noting that "the budget deficit amounts to 63 trillion dinars."

He explained that "total revenues amount to more than 134 trillion dinars," stressing that "oil revenues amount to more than 117 trillion dinars based on the price of oil at $70, and non-oil revenues amount to more than 17 trillion dinars."

And he indicated that "the increase in the budget came due to the installation of lecturers and contracts in all ministries, in addition to the indebtedness," noting that "this year, more than 12 trillion dinars of indebtedness will be paid."

He pointed out that “this indebtedness is internal and external and must be paid,” noting that “there is an increase in some allocations, including medicines, by 300 billion dinars, to become more than a trillion.” The budget will be two and a half trillion dinars.

 

Iraq Development Fund

And Al-Sudani indicated that "in this budget, we gave the provinces the right to recycle the allocated amounts," noting that "the Iraq Development Fund draft law was included and one trillion dinars were allocated for it," and added that "the Iraq Development Fund draft law is directed to the private sector," pointing out that " In the Iraq Fund for Development project, the implementation of 8 thousand schools will be launched at once.

The Prime Minister affirmed: "We will preserve the funds by dealing with the private sector without any contracts or bonds," explaining that "for the first time, sovereign guarantees are given for projects implemented by the private sector."

He continued, "The government program has adopted coverage of special programs amounting to one trillion and 865 billion dinars for medical services," stressing that "the expenses of those whose contracts have been terminated have been covered, and these allocations will be in the budget law."

 

Receivables and loans

And he added that "the amounts of electricity imports have been reduced," stressing that "the farmers' dues have been secured for the current agricultural season." Noting that "the draft budget law for three years enjoys a political agreement."

And he continued, "I will ask Parliament to attend the second session to read the budget," stressing that "the budget law is for all Iraqis," and pointed out that "the financial abundance of oil prices will be through which the dues of the provinces will be paid and the deficit covered," noting that "the government cannot cover All the requirements of the country without the private sector.

He pointed out that "the private sector will receive real support," explaining that "tackling unemployment requires new paths," and stressed that "the government has a vision in every sector," noting that "residential cities will be implemented and will provide adequate housing for citizens."

 

Cabinet session

And the media office of the Prime Minister stated in a statement yesterday, Monday, that Prime Minister Muhammad Shia Al-Sudani chaired the eleventh regular session of the Council of Ministers, and the session witnessed the approval of the draft general federal budget law for the years: 2023, 2024, and 2025, and its referral to the House of Representatives.

At the outset of the session, the Prime Minister affirmed the government's keenness to ensure that the budget reflects the governmental program that Parliament voted on, and indicated that this budget will be repeated for three years, in accordance with Financial Management Law No. 6 of 2019, which authorized the Council of Ministers to present a budget for three years. years, stressing that the Ministries of Finance and Planning can make amendments with the approval of the House of Representatives in the event of changes in numbers, oil prices, or quantities.

Al-Sudani explained, according to the statement, that these steps have been taken by the government based on its confidence in the vision and the approach that it carries, and it has set its goals in advance and set this budget in its details, and we will finish the process that is stalling all development and construction facilities, as ministries are usually paralyzed before the end of the fiscal year, which is what makes Work is suspended, then another chapter begins until the new budget is approved. 

The Council of Ministers also approved, in yesterday's session, a draft law to create the Halabja Governorate in the Republic of Iraq, and refer it to the House of Representatives, in fairness to this city, and in honor of its martyrs. The Council is one of the public companies affiliated to the Ministry of Construction, Housing, Municipalities and Public Works, implementing the Daquq Bridge project.

 

Parliamentary finance

In addition, the Parliamentary Finance Committee suggested that the vote on the draft budget would take twenty days if it was sent before the month of Ramadan to the House of Representatives. 

Committee member Jamal Cougar said, in an interview with "Al-Sabah": "It is possible that the approval of the budget in Parliament will not be delayed by more than twenty days if it is sent before the Newroz holidays or before the month of Ramadan." 

He added, "There will be hosts and discussions for all ministries within the committee regarding the budget, and this procedure will not delay voting on it, because the Finance Committee will be divided into sub-committees and the ministries will be divided into them to sit with them and discuss their shares." 

He continued, "Parliament's powers in the budget have two tracks; the first is to reduce expenditures, and the second is to transfer between chapters." 

Cougar stressed that "the speedy approval of the budget depends on the extent of the existence of legal violations in it, and the second point is the duration of the controversy of some paragraphs, and the third is the extent of fairness in the distribution of resources between the ministries on the one hand and the governorates on the other, as the less irregularities, controversy and poor distribution, the more fluidity in legislation The budget is bigger and faster, and the more these three points are and the less justice, the more time the discussions will take and the differences will increase.”

 

annual rule

In turn, the rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, said in an interview with “Al-Sabah”: “The annual rule is one of the most important rules of the general budget for many reasons, including that the public and private accounts that are determined annually, such as the national income accounts, are a document of where it relates to balancing.

And he indicated that “the period of the year is a typical period through which the budget can be counted, especially since the budget is a document that contains speculative and estimated data for a future period. From a political point of view, the issue of oversight, whether it is financial, related to the legislative, independent or administrative authority, can be effectively achieved within a year, but if this period is exceeded, it can be weakened. He pointed out that "the financial system in Iraq or the financial authority is not committed to the general financial rules and the financial management law, which is a constitution, and which no government has committed to since 2003, and not a single budget came on time and is committed to the timings stipulated in the financial management law." 

He noted that "it is expected that the non-annual budget cannot be approved by the Finance Committee, given that it is the legislative authority that approved the financial management law," stressing: "The Federal Ministry of Finance can prepare a medium-term budget for a period of (3 years) presented once and legislated and be The first year is obligatory, and the Council of Ministers, based on the proposal of the Ministries of Planning and Finance, amends it for the second and third years, meaning that it can be submitted for a period of three years, provided that it is divided. This is for an annual period.

 

Shorten the time

For his part, the specialist in financial affairs, Obaid Mahal, confirmed in an interview with “Al-Sabah” that “the subject of preparing the budget for three years is a subject contained in the Financial Management Law Article 4 Second, but it has not been implemented, and this is the first time that this law has been applied.” 6 of 2019, and the purpose of that is to shorten the time to discuss it once in the House of Representatives and not to delay in preparing the budget as it happens every year, and sometimes not even a budget is prepared because of these discussions,” noting that “submitting the budget for three years guaranteed us the aspect of not delaying or not approval, as it had previously.

Mahal noted that "there are real risks that must be mentioned, including the instability of the state's resources, especially as it depends entirely on the price of oil, so it is not relied upon in estimating three years due to fluctuation." He concluded his speech by saying: "The budget for three years is good if it is It had the elements of good preparation and overcoming the expected risks.

The independent politician, Omar Al-Nasser, stated in an interview with Al-Sabah that "every year, the issue of approving the budget takes a large part of the citizen's thinking and the political kitchen, and currents, parties and political forces enter into disputes, debates and bargaining because of the inability to resolve the outstanding issues between the center and the region on the one hand. And between the political blocs in Baghdad on the other hand.

Al-Nasser promised that "approving the current budget in this way has some positives and negatives, including; avoiding the issue of delaying allocating the necessary funds to implement the stalled and delayed development projects caused by mismanagement and planning, which the government program emphasized on implementing, and ensuring the payment of salaries of employees, retirees, social welfare and others without worry or delay. Or delay.” He added, “However, one of the negatives in it is the lack of a guarantee of stability in global oil prices and Iraq’s dependence on oil revenues as a single source of income, due to the absence of planning and the lack of qualitative strategies to maximize the state’s resources to make the budget safe from domestic and international momentary political fluctuations and changes.” and regional influences on the quality of government decisions.

Edited by: Muhammad Al-Ansari

 

[CSM (R) Thack]

10 hours ago, yota691 said:

The Council of Ministers approves the draft budget law for three years

• Time: 03/13/2023 13:48:42
•  
• Read: 2,041 times

  

{Economic: Al Furat News} The Council of Ministers approved the draft federal budget law for the fiscal years 2023, 2024 and 2025.

Today, Monday, the Council held its regular session on the budget, headed by Prime Minister Muhammad Shia'a Al-Sudani.

The Council of Ministers referred the draft budget law for the three consecutive years to the House of Representatives for discussion and approval.

Al-Sudani will head tomorrow to the Kurdistan region and will discuss a number of files, most notably the budget, the oil and gas law, and the rest of the contentious files and issues between Baghdad and Erbil.

💥💥💥Boom💥💥💥

[yota691]

The Council of Ministers votes on the draft budget law

The first  2023/03/14

 

 

 Baghdad: Hoda Al-Azzawi and Shaima Rashid

 

In a precedent that is the first of its kind in the history of Iraq, the Council of Ministers voted, yesterday, Monday, on the draft federal budget law for (3) fiscal years, which are 2023, 2024 and 2025, and the Council, in its regular session that it held under the chairmanship of Prime Minister Muhammad Shia Al-Sudani, referred the draft budget to Parliament, and the total expenditures in the draft budget are more than 197 trillion dinars, which is the largest in the history of the country.

Prime Minister Muhammad Shia al-Sudani said, in a press conference yesterday, Monday: "The priorities of the government program will be present in the 2023 budget," noting that "the budget for three years supports financial stability."

He added that "the ministries enter at the beginning and end of a year with a stage of hibernation until the new budget is approved," indicating, "We are facing a stability of the budget for a period of three years." In the budget there are practical measures, including increasing the coverage area in the protection network.

And he indicated that, "for the first time, a fund has been established for the poorest governorates." He continued, "This fund will address the state of poverty in these governorates." He explained, "In this budget, we have maintained support for the liberated governorates, and we have allocated an amount of 500 billion dinars to secure service projects and support displaced families." He pointed out that "a fund has been established to support the Sinjar district and the Nineveh Plain, and we have allocated 50 billion dinars."

And on the Kurdistan region, Al-Sudani confirmed, “We reached a comprehensive agreement on the outstanding issues between Baghdad and Erbil,” noting that “for the first time, the total revenues of oil produced in the region are deposited in a bank account in which it is deposited and is subject to federal administration,” and indicated that “the understandings between Baghdad and Erbil were with clear points.” ", stressing that "in the event of any differences between Baghdad and Erbil, there is a committee that submits its recommendations to the federal prime minister," and pointed out that "these understandings between Baghdad and Erbil confirm the two parties' progress towards approving the oil and gas law," and added that "the share of the Kurdistan region in the budget amounts to 12.6%.

He pointed out that "the total budget amounts to more than 197 trillion dinars," stressing that "the operational budget amounts to more than 150 trillion dinars," and added that "the investment budget is more than 47 trillion," noting that "the budget deficit amounts to 63 trillion dinars."

And Al-Sudani stated that “in this budget, we gave the provinces the right to recycle the allocated amounts,” noting that “the Iraq Development Fund draft law was included and one trillion dinars were allocated for it,” and he added that “the Iraq Development Fund draft law is directed to the private sector,” pointing out that “ In the Iraq Fund for Development project, the implementation of 8 thousand schools will be launched at once.

And he continued, "I will ask Parliament to attend the second session to read the budget," stressing that "the budget law is for all Iraqis," and pointed out that "the financial abundance of oil prices will be through which the dues of the provinces will be paid and cover the deficit," noting that "the government cannot cover All the requirements of the country without the private sector.

And the media office of the Prime Minister stated, in a statement yesterday, Monday, that Prime Minister Muhammad Shia Al-Sudani chaired the eleventh regular session of the Council of Ministers, and the session witnessed the approval of the draft general federal budget law for the years 2023, 2024, and 2025, and its referral to the House of Representatives.

At the outset of the session, the Prime Minister affirmed the government's keenness to ensure that the budget reflects the government program that Parliament voted on, and indicated that this budget will be repeated for three years, in accordance with Financial Management Law No. 6 of 2019, which authorized the Council of Ministers to present a budget for three years. , stressing that the Ministries of Finance and Planning can make amendments with the approval of the House of Representatives in the event of changes in numbers, oil prices, or quantities.

Al-Sudani explained, according to the statement, that these steps have been taken by the government based on its confidence in the vision and the approach that it carries, and it has set its goals in advance and set this budget in its details, and we will finish the process that is stalling all development and construction facilities, as ministries are usually paralyzed before the end of the fiscal year, which is what makes Work is suspended, then another chapter begins until the new budget is approved. 

In addition, a member of the Parliamentary Finance Committee, Jamal Cougar, said, in an interview with “Al-Sabah”: “It is possible that the approval of the budget in Parliament will not be delayed by more than twenty days if it is sent before the Newroz holidays or before the month of Ramadan.” 

For his part, Obaid Mahal, a specialist in financial matters, confirmed in an interview with "Al-Sabah" that "submitting the budget for three years guaranteed us the aspect of not delaying or not approving it, as happened previously."

 

[southbeach]

Come RV now

[yota691]

Sudanese government approves the largest budget in the history of Iraq

The proposed deficit in the new federal budget is estimated at about $48 billion, an increase of about $28 billion over the deficit recorded in the 2021 budget.

Monday 03/13/2023

 

 

Aswadani faces great social and security challenges

 The draft budget allocates 307 million dollars for the Kurdistan region

 The Iraqi government submits a draft budget for three years to Parliament

BAGHDAD - The Iraqi Council of Ministers approved on Monday the draft financial budget law and submitted it to parliament for a vote, with high proposed expenditures and investments, driven by the increase in oil prices.

The last budget approved in Iraq dates back to April 2021, while one was not approved in the year 2022 due to the political turmoil that paralyzed the country for a year after the last legislative elections, while the new Iraqi budget bill includes the largest budget in the history of the Iraqi state in 20 years.

During a government meeting on Monday, the Council of Ministers approved "the draft federal budget law for the fiscal years 2023, 2024 and 2025...and referred it to the House of Representatives," according to a statement issued by the office of Prime Minister Mohamed Shiaa al-Sudani.

Al-Sudani said that this "budget will be repeated for three years," adding that these numbers may be subject to "amendments and with the approval of the House of Representatives in the event of changes in numbers, oil prices or quantities."

The proposed expenditures in the new budget amount to 197 trillion and 828 billion dinars ($152 billion, according to the official exchange rate), including investments worth 47 trillion and 555 billion dinars ($36.5 billion).

In 2021, the value of the proposed investments in the budget amounted to $19.6 billion, and in 2019 it amounted to $27.8 billion.

The Iraqi Prime Minister repeatedly stresses that infrastructure projects such as roads, schools, hospitals and housing projects are a priority in a country wracked by decades of wars and one-third of its 42 million population live in poverty.

And Al-Sudani, during a press conference on Monday, expressed his hope that the projects included in the budget would allow "to address cases of poverty," speaking of paying financial aid to about 600,000 families and establishing a "special fund to support the poorest governorates." He also pledged to rebuild some areas, especially Sinjar, the stronghold of the Yazidi minority.

The total revenues of the proposed budget for one year amount to 134 trillion and 5 billion dinars ($103.4 billion), based on the price of a barrel of oil of $70. In 2021, revenues amounted to $69.9 billion at a price of $45 a barrel of oil.

As for the proposed deficit in the new budget, it is 63 trillion and 75 billion dinars (about 48 billion dollars), compared to 19.8 billion in 2021 and 23.1 billion in 2019.

And allocated about $ 307 million to the autonomous Kurdistan region in order to pay the salaries of its employees, in exchange for 400 thousand barrels of oil per day produced in the region.

In order to secure basic expenses, the Iraqi parliament voted in the summer of 2022 on the emergency support law, amounting to $17 billion, and allowing Iraq, in particular, to purchase gas, electricity, and grains to ensure "food security."