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

[southbeach]

Would a 3 year budget indicate a planned/managed float of the IQD?

[yota691]

Al-Sudani details the budget: Total expenditures are 197 trillion dinars, with a deficit of 63 trillion

 

money and business
   

Economy News - Baghdad
Prime Minister Muhammad Shia al-Sudani confirmed today, Monday, that the priorities of the government program will be present in the 2023 budget, pointing out that the budget for three years supports financial stability.

 

Al-Sudani added, in a press conference, that "the ministries enter a stage of hibernation at the beginning and end of each year until the new budget is approved," noting: "We are facing stability in the budget for a period of three years."

 

He referred to "securing entitlements for all contracts, lecturers, and higher degrees in the budget," adding: "We put in the budget practical measures, including increasing the coverage area in the protection network, and with the approval of the budget, the social subsidy will be disbursed."

 

And he stated, "For the first time, a fund has been established for the poorest governorates. This fund will address the state of poverty in these governorates," noting that "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 for displaced families, and a fund has been established." To support the Sinjar district and the Nineveh Plain, we have allocated 50 billion dinars.

 

He explained, "One of the reasons for delaying the approval of the budget was also the understanding with the Kurdistan region, we reached a comprehensive agreement on the outstanding issues between Baghdad and Erbil, and 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."

 

He stressed, "The understandings between Baghdad and Erbil were on clear points, and in the event of any differences between Baghdad and Erbil, there is a committee that submits its recommendations to the federal prime minister," considering that "these understandings between Baghdad and Erbil confirm the two parties' progress towards approving the oil and gas law," while pointing to 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," noting that "the operational budget amounts to more than 150 trillion dinars, the investment budget is more than 47 trillion, and the budget deficit amounts to 63 trillion dinars," adding that "total revenues amount to more than 134 trillion dinars (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).

 

The Prime Minister noted 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, and that this indebtedness is internal and external and must be paid."

 

And he indicated, "There is an increase in some allocations, including medicines, by 300 billion dinars, to become more than a trillion," pointing out that "the petro-dollars will be two trillion dinars distributed among the governorates, and in this budget we gave the governorates the right to rotate the allocated amounts."

 

Al-Sudani added, "The Iraq Development Fund draft law has been included and one trillion has been allocated to it, and that the draft law is directed to the private sector, and in the Iraq Development Fund project, the implementation of 8 thousand schools will be launched at once."

 

Al-Sudani stressed, "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."

And he added, "The expenses of those whose contracts have been terminated have been covered, and these allocations will be in the budget law, and farmers' dues for the current agricultural season are secured," noting that "the amounts of electricity imports have been reduced."

 

The budget included, according to Al-Sudani, "adding 400 billion dinars to loans for small projects in the Ministry of Labor, in addition to increasing the capital of the Industrial Bank by 400 billion dinars to support the private sector."

 

And he continued, "The financial abundance of oil prices will be through which the dues of the provinces will be paid and the deficit will be covered," noting that "the government cannot cover all the country's requirements without the private sector."

 

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

 

Al-Sudani stressed that "the draft budget law for three years enjoys a political agreement," adding: "I will ask parliament to attend the second session to read the budget, and that the budget law is for all Iraqis."

 

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Views 296

Added 03/13/2023 - 6:24 PM

[yota691]

Al-Sudani: The share of the Kurdistan region in the budget is 12.6 percent

 

•  Yesterday, 16:45
•  
•  Policy
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•  590

•  

Baghdad - IQ  

Prime Minister Muhammad Shia Al-Sudani announced, on Monday, that the total financial budget for the current year amounts to 197 trillion dinars, while the deficit amounted to 63 trillion.

Al-Sudani said in a press conference after a regular session of the Council of Ministers today, and was followed by IQ NEWS, that "the budget for three years supports financial stability, and the ministries enter at the beginning and end of a year with a stage of hibernation until the new budget is approved."

He added, "Entitlements for all contracts, lecturers, and higher certificates have been secured in the 2023 budget, and we have put in the budget practical measures, including increasing the coverage area in the social protection network."

[yota691]

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

• MONDAY, 03-13-2023, PM 5:11
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• KARRAR AL-ASADI
•  
• 418

http://non14.net/public/images/large/8-1678716686.jpg

Prime Minister Muhammad Shia al-Sudani announced today, Monday, that an agreement had been reached to end the dispute between Baghdad and Erbil over the oil revenues of the Kurdistan region.

Al-Sudani said during a press conference held today, after the cabinet session, that "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."

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 file of oil exports and revenues 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 deadlock that followed the early elections in October 2021.

[Laid Back]

Iraq 2023 Budget. 197 Trillion IQD /1310 = $150,381 billion dollars 

 

The share of the Kurdistan region in the budget amounts to 12.6%.

 

2023 Budget $150,381 billion dollars x 12.6% $18,948 billion dollars 

 

$18,948 billion dollars for the Kurdistan Region..

Kurdistan Region Population 6.1 million people.

 

Go 2023 Budget

Go Kurdistan share

Go HCL

Go Stronger Dinar$1+

[yota691]

Academic: The passed budget bill violates the Financial Management Law

2023.03.14 - 11:44

 

Baghdad - Nas  

The head of the Clauda Center for Studies, Bassel Hussein, confirmed, on Tuesday, that the passed draft budget violates the Financial Management Law.  

  

  

  

Hussein said in a series of tweets on “Twitter”, followed by “Nass”, (March 14, 2023): “After the violation that the Council of Ministers adopted in sending the budget was revealed because it violated the text of Article (6 / Fourth) of the Financial Management Law through the deficit that includes 60 One trillion dinars, while the permissible according to the law is 8.2 trillion Iraqi dinars.  

  

He added, "I challenge the Council of Ministers and the group of advisors to deny this."  

  

The head of the Clauda Center for Studies stated in another tweet: "Source: The next budget will be around 200 trillion Iraqi dinars, with a deficit of 60 trillion Iraqi dinars, or 30% of the budget."  

  

And he continued, "If this is true, it would violate Financial Management Law No. 6 of 2019, which in its article (6/fourth) does not allow the deficit to exceed 3% of the GDP."  

  

Hussein concluded by saying: "A country that does not operate by law."  

  

[yota691]

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

16 hours ago

Rudaw Digital@Rudawkurdish

 

Bassem Awadi, spokesman for the Iraqi government

 

 

Rudaw Digital 

 

A spokesman for the Iraqi government told Rudaw that the decision to make Halabja a province was issued by the Iraqi Council of Ministers. He added that it is scheduled to be sent to parliament for discussion and then approved that Halabja will immediately become a province.

 

"Once the parliament approves the decision to make Halabja a province, Halabja will definitely become the 19th province in the country and will be allocated a budget like any other Iraqi province; first through the Kurdistan Regional Government's budget and also," he said what the federal government can offer." "After the approval of the decision by the parliament, the federal government in Baghdad will intensively participate in the development and construction of the new province so that it can stand on its own feet in a way that is worthy of Iraq and the Kurdish people. 

 

Regarding the Kurdistan Region's share and civilian expenditures in the 2023 budget, Awadi said that a positive agreement has been reached outside the framework of the Kurdistan Region's share of 12.67%, except for civilian expenditures According to the Ministry of Planning, if any province in the Kurdistan Region is below the poverty line, all the money allocated from the Iraqi federal budget will cover that province.

 

"The issue of compensation is linked to the compensation committees. The martyrs will receive their rights from the Martyrs Institution and those who were injured due to the crime committed against Halabja on March 16 will receive their rights from the Ministry of Health," he said The Kurdistan Region and the health of the federal government should receive the necessary treatment. 

 

"Sudan will visit Sulaimani to attend a conference and if he has the opportunity, he will also visit Erbil and meet with Kurdish leaders to discuss and negotiate and possibly reach an agreement," Awadi said. 

 

"The atmosphere between Erbil and Baghdad is very positive and there is a positive environment," Awadi said. "An agreement was reached between the two sides on the budget and relying on God, we are moving towards an agreement on the oil and gas law and it is possible to discuss and negotiate on this law during this visit to Sudan," he said. 

[6ly410]

 

[Danishere4news2]

We have reached an agreement, then we are close, then we reached an agreement, then we are close & so on & so on. Same song & dance every year. Until it's law, we wait on the clowns

[yota691]

Al-Shammari: The 2023 budget is the largest in the history of Iraq, and Baghdad and the south will witness a reconstruction revolution

• Time: 03/15/2023 07:46:11
•  
• Read: 2,470 times

  

{Politics: Al Furat News} The Prime Minister's advisor, Fadi Al-Shammari, confirmed that the federal financial budget for 2023 is the "largest" in the history of Iraq.

Al-Shammari said in a statement, of which {Euphrates News} received a copy: "The 2023 budget is the first budget to move from the item budget to the program budget," adding that "the 2023 budget is the largest in the history of Iraq and will achieve a quantum leap in services."
And he stated, "What distinguishes the government program is that it set practical and applicable contexts, not ideal slogans and slogans," noting that "the main title of this government is the government of national service."
Al-Shammari stressed, "Iraq played a pivotal role in restoring Iranian-Saudi relations," pointing out that "the Iraqi delegation that visited Washington presented deep concepts and discussed transparently, and the Americans described it as one of the most successful delegations that represented Iraq during the history of Iraqi-American relations."
He noted that "
He noted that "housing projects are among the priorities of the current government's work," noting that "Muthanna will be one of the oil provinces."
Al-Shammari continued, "We contracted with the parent companies in the field of electricity without intermediaries, with a new system, at lower costs, and with greater productivity," noting that "the Sudanese prime minister works more than 17 hours a day and has administrative and leadership experience with political acumen that differs from all previous prime ministers."
He pointed out that "there are comprehensive evaluation processes for all ministerial cabinets, and there is a process for evaluating the work of governors, and there may be upcoming changes in some provinces," stressing that "any minister, agent, or general manager who fails in his work will be included in the process of change."
He stressed that "the generous Basra is one of the most important provinces that have been taken into account in the budget, and Baghdad and the central and southern provinces will witness a reconstruction and construction revolution, and it will be workshops."
He stressed that the government "is working to end the file of the displaced this year, and it is shameful, after years of liberation, that there are still internally displaced persons."
Al-Shammari said that "any person who stole public money, whatever his address, will be held accountable and prosecuted, and that whoever extends his hand on public money and enriches at the expense of people's livelihood will be punished by the hand of justice, and the oversight agencies are mobilized and work very seriously."
He said, "Dia al-Musawi (former director general of the National Intelligence Service), one of the top suspects accused of stealing the century, is now in the grip of justice," noting that "the money recovery file is on the agenda of any international visit by the government."
And he went on to say, "The government's view of the people of the western and northern provinces is a look of paternity and care, and we want to make people adhere to the cover of the state.
Al-Shammari confirmed: "We have reached a comprehensive agreement with the Kurdistan Region, we hope that all parties will abide by it, and most of the problems are based on accumulated psychological complexes.
He pointed out, "We recognize the parliamentary and political opposition, which is part of the process of mature building of the system that flies on the two wings of the ruling loyalists and the observing opposition, but now it has nothing to hold against the government," stressing, "Our duty in the government is to protect the opposition and provide them with cover."
He added, "The State Administration Coalition is coherent and provides full political cover for the government and supports it. Its strength is that the prime minister is present continuously, clarifying, discussing and defending his idea and vision to convince his partners of it."
 

[yota691]

“It will not withstand fluctuations in oil prices.” Debate in Iraq over the “three-year” budget

2023.03.17 - 13:45

 

Baghdad - Nas  

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.  

  

  

  

In quite a few years, the approval of the financial budget faltered as a result of political conflicts or the escalation of violence, as happened in 2014, after the rise of ISIS and its control of about a third of Iraqi territory. And just as it happened during the last two years of former Prime Minister Mustafa Al-Kadhimi’s tenure, against the backdrop of the October protest movement.  

  

According to government data, the total budget for the current year amounts to 197.828 trillion dinars (about 140 billion dollars), while the operational budget is 150.273 trillion dinars, while the investment amounts to 47.555 trillion dinars. As for the deficit, it is 63.275 trillion dinars. The government approved the price of $70 per barrel of oil, given that more than 95 percent of budget revenues depend on oil sales, which angered most of the economic trends that do not revolve around government circles.  

  

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.  

  

The 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.” He added, "We are responsible for implementing the programs, projects, plans and policies in the budget, and there is a possibility of modification by the Ministries of Finance and Planning, with the approval of the Council of Ministers and Representatives, in the future if oil prices and numbers change."  

  

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.” The ministries usually entered a stage of hibernation at the end and beginning of the year until the budget was approved.  

  

It was noted that the political leaders in the Kurdistan region, which often had problems and objections to the budget law, welcomed this time, and the leader of the Kurdistan "Democratic" Party, Massoud Barzani, said the day before yesterday that it was a "positive step." He hoped that this would be reflected in the discussions of the Federal Oil and Gas Law.  

  

As for the economic trends that oppose the “three-year” law, it was issued by economists and oil experts. Economics professor Imad Abd al-Latif Salem, who says, on his Facebook platform, says: “In a rentier economy, in which oil revenues constitute 96 percent of its total public revenues, the adoption of three-year budgets will necessarily mean the existence of three-dimensional political “claws-tricks.” , also".  

  

Salem believes that “decision makers deal in Iraq with the legal frameworks, and sometimes the constitutional ones, according to their desires, and in a way that serves their interests, directly or indirectly, before any other consideration. Based on this approach, the Iraqi government, and the political forces supporting it, deal with the provisions of Law No. 6 of 2019, just as it deals with democracy in its strange, fabricated, and ambiguous Iraqi form.  

  

It is reported that «Articles (1) second, ninth, and eleventh, of the budget law, affirm commitment to the principle of annual budget».  

  

Professor of Administration and Economics at the University of Baghdad, Ihsan Jabr Ashour, asks: “Is it a political cycle of budgeting, miserable political propaganda, or is it a new flow to finance the sustainability of political financial corruption?” And he adds, “What are the economic, political and social foundations, principles, and philosophy that were adopted in formulating such a draft budget? What is the logical justification for its departure from the most important financial and economic indicators and criteria?  

  

As for Nabil Al-Marsoumi, a professor of economics at the University of Basra, he believes that “the budget will enter the critical path if the price of Brent crude drops to about $60 per barrel; As the oil revenues will then be sufficient to cover only the two paragraphs of employee salaries and social care, which amount to more than 87 trillion dinars in the 2023 budget.  

  

Oil expert Hamza Al-Jawahiri says, in press statements, that "the budget was disappointing when it set the default oil price at $70, while today we sell our oil for less than that, let alone if Europe and America succeed in bringing prices to $60 or less." He added, “This matter will greatly affect Iraq in particular. Because there is about 34 percent of the budget deficit, after the operating budget has greatly inflated, while the investment budget has diminished, which has become less than a quarter.  

  

"The Middle East" 

[HowieC]

So something as simple and common sense as fluctuations in oil price, they forgot to figure in ?  They are kidding...right? 

[horsesoldier]

3 hours ago, HowieC said:

So something as simple and common sense as fluctuations in oil price, they forgot to figure in ?  They are kidding...right? 

They're still having a hard time getting the hang of toilet 🚽 paper, so I'm going with NOPE, to your question. 

[BETTYBOOP]

4 hours ago, HowieC said:

So something as simple and common sense as fluctuations in oil price, they forgot to figure in ?  They are kidding...right? 

Either that or the ones at the top of the tree are confident they can do it because they know of something else coming which most of Iraqis ministers and the people do not know about....

[jegou]

33 minutes ago, BETTYBOOP said:

Either that or the ones at the top of the tree are confident they can do it because they know of something else coming which most of Iraqis ministers and the people do not know about....

What happened to Keylime's post from Wednesday that said only some understandings remain to be settled?

[3n1]

5 hours ago, HowieC said:

So something as simple and common sense as fluctuations in oil price, they forgot to figure in ?  They are kidding...right? 

 

instead of being total thieves and bent on corruption and stealing all the years when oil was over a 100 bucks a barrel and diversifying into a market economy other than or at least along side oil that the IMF instructed them to do many years ago they just steal like there is no tomorrow and run headlong into one crises after another isnt this fun to follow along   cheers