The final version.. The Official Gazette publishes the budget law and it enters into force

[6ly410]

 

[yota691]

The President of the Republic, Dr. Abdul Latif Jamal Rashid, ratifies the Federal Budget Law

Iraq

15:12 - 2023-06-21

Today, Wednesday, June 21, 2023, the President of the Republic, Dr. Abdul Latif Jamal Rashid, approved the Federal Public Financial Budget Law.
The President of the Republic affirmed that approving and approving the budget is a turning point for the government to implement its program, which includes securing the necessary needs of citizens, providing basic services such as health and education, rehabilitating the infrastructure and undertaking vital and strategic projects that will positively reflect on the reality of the daily life of citizens.
The President of the Republic referred to the need to work to rationalize government spending, preserve public money, and develop and diversify the sources of the economy at a time when the country is facing economic and environmental challenges.
The President of the Republic also praised the efforts made to approve the budget from all parties, taking into account the important operational and investment aspects, and fairness to low-income groups, in a way that achieves social justice.
The approval of the President of the Republic came after the budget law reached the Presidency of the Republic from the House of Representatives after it was voted on.

[6ly410]

 

[chris2028]

AWESOME!! Thanks @yota691 and @6ly410 for your round the clock news updates!! I've got to admit I thought he would take the full 15 days to mull over it. But he surprised me and I'm sure others by ratifying the budget pretty quick! Lets see what happens next! GO RV/RI GO IRAQ!!!

[horsesoldier]

1 minute ago, chris2028 said:

AWESOME!! Thanks @yota691 and @6ly410 for your round the clock news updates!! I've got to admit I thought he would take the full 15 days to mull over it. But he surprised myself and I'm sure others by ratifying the budget pretty quick! Lets see what happens next! GO RV/RI GO IRAQ!!!

Too Right....that was one helluva Pasta & Wine festival he came back from in Italy. 

I thought he'd still be in a food coma. Good on him fer Gitting Er Dun !!!

[6ly410]

 

[horsesoldier]

21 minutes ago, 6ly410 said:

 

   

[yota691]

The President of the Republic ratifies the Federal Budget Law

second and third  2023/06/22

 

 

  Baghdad: Al-Sabah,

the President of the Republic, Abdul Latif Jamal Rashid, approved yesterday, Wednesday, the Federal Public Financial Budget Law, while stressing the importance of working to make Baghdad a promising destination for investors.

Rashid said, in a presidential statement: "The approval and ratification of the budget is a turning point for the government to implement its program, which includes securing the necessary needs for citizens, providing basic health and educational services, rehabilitating the infrastructure and initiating vital and strategic projects that will reflect positively on the reality of the citizens' daily lives.
"
He stressed the need to work on rationalizing government spending, preserving public money, and developing and diversifying the sources of the economy at a time when the country is facing economic and environmental challenges. limited income in order to achieve social justice.

During his meeting with the head of the Baghdad Investment Commission, Hassan Jamil, the President of the Republic discussed "a number of projects that must be implemented in the capital, Baghdad," stressing "the great task entrusted to the Baghdad Investment Commission to find opportunities for investment cooperation with solid companies."
Rashid pointed to "the importance of working to make the capital, Baghdad, a promising investment destination for investors, by building bridges of trust and cooperation in various sectors."

For his part, the head of the Baghdad Investment Commission expressed "the commission's keenness to work diligently and leave a clear imprint in the field of investment in the capital, Baghdad, creating many job opportunities, introducing modern technology in building cities and residential complexes, and exchanging experiences with developed countries."

[yota691]

Article dated prior to the Prez signature...

 

 

Parliamentary Finance recommends approving the “budget” next week

The first  2023/06/21

 

 

 Baghdad: Shaima Rashid 

 Sulaymaniyah: Karim Al-Ansari

 

The Parliamentary Finance Committee suggested that the President of the Republic approve the general budget law during the next week, at a time when the government spokesman, Basem Al-Awadi, stated that the copy of the total budget coming to us from the House of Representatives is good and preserved its philosophy that the government wanted, and there are not many objections to it. And that the country will turn into a large workshop when the budget is approved and implemented in the coming months.

A member of the Finance Committee, Maeen Al-Kazemi, said: “It is assumed that the President of the Republic will approve the budget law during the current week or the beginning of next week as a maximum, and if it is not approved, and 15 days have passed since the date it was sent, the law is considered approved, even if it is not approved.” It is approved in accordance with the law and the constitution.

He added, "The implementation of the budget law will be at the beginning of next month, after which the government will be able to disburse the funds allocated for projects, and the citizen will see a major change in services during the next stage." implementation of its programme.

In addition, the government spokesman, Basem Al-Awadi, said: “The prime minister welcomed the approval of the budget, and these are indications that confirm that the government is convinced of approving the budget, but despite that he left the door open with regard to some paragraphs on which the government may have another position on it through the team.” The economic team associated with the Prime Minister," pointing out that "the economic team will study these paragraphs and take the appropriate decision from them during the coming period."

He added, "The overall budget that came out of Parliament is good and preserved its philosophy that the government wanted, and there are not many objections to it," noting that "the budget provides ministries with legal space and funds, and the next six months will be radically different in work and financing."

And he continued, "In the past six months, the citizen felt the government's seriousness in working as much as the funds available before approving the budget, especially with regard to providing services, especially in the Baghdad governorate," stressing that "Iraq will turn into a workshop in all governorates, and the prime minister has been waiting for the budget since It takes a long time for the implementation of the actual workshops that promote all governorates to begin, and the next six months will be different in terms of work.

For his part, Jamal Cougar, a member of the Parliamentary Finance Committee, told Al-Sabah: “The Finance Committee, when it approved the budget, set a condition on the government, which is to send it the next year’s budget schedules before the end of this year, because these schedules contain estimates for everything, and In light of the tables, the price of a new barrel of oil will be estimated.

He added, "The next year's budget will change in the event of a change in oil prices," explaining that "if oil prices rise and the government does not fully spend the budget amounts during the remainder of the current year, then what will be returned from the sums as a rounder for the government will contribute to reducing the deficit."

Meanwhile, statements and statements by members of the Kurdistan Democratic Party were frequent, calling on the President of the Republic not to ratify the budget law, on the pretext that the changes in the budget were unfair to the region, and the political analyst, Subhi al-Mandalawi, commented in an interview with "Al-Sabah" on the statements of some members The Democratic Party, and said: "This is a personal vision," and added, "In all cases, constitutionally, even if the President of the Republic does not ratify, the budget will pass within a period of 15 days."

 

 Edited by: Muhammad Al-Ansari

[yota691]

With a value of 152 billion dollars.. The Iraqi president approves an unprecedented budget

 

Source:

the date: June 22, 2023

 

On Wednesday, the Iraqi president approved an unprecedented budget of $152 billion that parliament voted earlier this month, adding about half a million jobs in the public sector.

President Abdul Latif Rashid approved the budget, which projected a deficit of $48 billion. Parliament voted last week on a draft, after six months into the fiscal year and months of negotiations.

The point of contention during the talks was the distribution of oil revenues between the central government in Baghdad and the Iraqi Kurdistan region. The agreed draft asserts Baghdad's authority over the oil sector and allocates 12.6 percent of revenues to the semi-autonomous Kurdish region.

The Iraqi Kurdish government would be allowed to sell its oil, but would have to first deposit the proceeds into a bank account that could be monitored by officials from the central government. Baghdad will then deduct that amount from its monthly allocations to the Kurdish government and transfer any surplus to it.

According to an official in Baghdad, the government expects to resume Kurdish oil exports - which were halted through the Turkish port of Ceyhan for several months as a result of legal disputes - last week at a rate of 400,000 barrels per day. The official spoke on condition of anonymity, in line with regulations.

The Iraqi president praised the budget, describing it as a turning point in the government's implementation of its program, which includes securing the basic needs of citizens, providing basic services such as health and education, rehabilitating infrastructure and launching vital strategic projects.

The budget, which was approved by the same amount for the years 2024 and 2025, includes large spending on raising public wages and investing in reconstruction projects after years of conflict.

At the same time, the Iraqi Ministry of Interior announced jobs for about 37,100 members of the police forces, for a period of three years, with a monthly salary of 500,000 Iraqi dinars (about $377).

[gregp]

Finance Committee : Budget Law Instructions will be issued after Eid al-Adha

 politics

+A -A

INA-  Baghdad

The Parliamentary Finance Committee announced, on Thursday, the date of publishing the instructions of the budget law.

"The budget law is expected to be published in the Official Gazette next Sunday," a member of the parliamentary finance committee, Moeen Al-Kadhimi, told the Iraqi News Agency (INA).

Al-Kadhimi added that "the instructions of the budget law will be issued after Eid al-Adha."

•  Today, 14:16

  Finance Committee : Budget Law Instructions will be issued after Eid al-Adha

• https://ina.iq/eng/27201-finance-committee-budget-law-instructions-will-be-issued-after-eid-al-adha.html
   

[gregp]

I’m liking some July 1st

[NeedRv]

So, I have been out of the loop for a while... I know that the budget signing is important... but correct me if I am wrong... 

Has the Oil and Gas stuff been resolved... or is that bundled in with the budget... 

 

I thought RV was going to be a 2 parter.... Budget and Oil and Gas agreement. 

[screwball]

3 minutes ago, NeedRv said:

So, I have been out of the loop for a while... I know that the budget signing is important... but correct me if I am wrong... 

Has the Oil and Gas stuff been resolved... or is that bundled in with the budget... 

 

I thought RV was going to be a 2 parter.... Budget and Oil and Gas agreement. 

There was one article saying oil law to be voted on next Tuesday and some article saying after the parliamentary break! Best guess who knows! 

[gregp]

2 minutes ago, NeedRv said:

So, I have been out of the loop for a while... I know that the budget signing is important... but correct me if I am wrong... 

Has the Oil and Gas stuff been resolved... or is that bundled in with the budget... 

 

I thought RV was going to be a 2 parter.... Budget and Oil and Gas agreement. 

Hi NeedRv

Oil & Gas is written in budget. Parliament is going to actually one on the law upon returning from break. The exchange was voted on the first day of budget vote. 

[gregp]

Just now, screwball said:

There was one article saying oil law to be voted on next Tuesday and some article saying after the parliamentary break! Best guess who knows! 

Brother SB I’m on pins and needles. 

[mally2]

2 minutes ago, NeedRv said:

So, I have been out of the loop for a while... I know that the budget signing is important... but correct me if I am wrong... 

Has the Oil and Gas stuff been resolved... or is that bundled in with the budget... 

 

I thought RV was going to be a 2 parter.... Budget and Oil and Gas agreement. 

Every single time they’ve passed a budget there has been an agreement on how oil revenues will be handled since they still don’t have the hcl passed. This one is no different except this one is a three year budget with lots of rebuilding Iraq baked in. We’re yet to see if that’s good enough for them to cement these agreements into law beyond expiring budget laws with the hcl now being voted on. They’re talking a good game which is typical. 

[screwball]

2 minutes ago, gregp said:

Brother SB I’m on pins and needles. 

Yeah exciting times for sure!

[screwball]

9 hours ago, yota691 said:

includes large spending on raising public wages and investing in reconstruction projects after years of conflict.

Hence why they needed to update salary and wage scales 

[screwball]

9 hours ago, yota691 said:

The agreed draft asserts Baghdad's authority over the oil sector and allocates 12.6 percent of revenues to the semi-autonomous Kurdish region.

Great news! Love the word “asserts authority”

[DinarDavo]

4 minutes ago, mally2 said:

Every single time they’ve passed a budget there has been an agreement on how oil revenues will be handled since they still don’t have the hcl passed. This one is no different except this one is a three year budget with lots of rebuilding Iraq baked in. We’re yet to see if that’s good enough for them to cement these agreements into law beyond expiring budget laws with the hcl now being voted on. They’re talking a good game which is typical. 

 

.....yes, and whatever bills do get passed, "enactment" usually becomes an insurmountable hurdle for one reason or another.

[gregp]

Just now, screwball said:

Great news! Love the word “asserts authority”

Like concrete! 

[screwball]

9 hours ago, yota691 said:

the importance of working to make the capital, Baghdad, a promising investment destination for investors, by building bridges of trust and cooperation in various sectors."

Try starting with the banking sector….

[screwball]

If you think back to years ago most laws passed quickly it’s the HCL, 140 and budget which has been the sticking point for years 

[gregp]

1 minute ago, screwball said:

Try starting with the banking sector….

 Not to change the subject but have you read all the news on Irans CBI about all the countries  Irans foreign minister has been visiting and signing deals? It’s huge! They’ve been busy!