What is the relationship of the US Federal Reserve to the federal budget?

[yota691]

Budget funds are directed towards priority spending

The first  09/19/2023

 

 

  Baghdad: Raghad Dahham 

 

The schedule for releasing budget funds moved towards the priority included in the chapters on financial disbursement between government institutions, while observers criticized the delay in releasing budget funds, calling for setting a timetable with priorities for spending between institutions.

 

Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, stated to Al-Sabah that “the issue of not releasing budget funds so far is related to the cash available at the Ministry of Finance, and it is even considered insufficient,” stressing that “work is now proceeding according to the phase of finding solutions.”

 

He added, "Finance confirmed its work to find a solution, and even began financing the exchange doors according to priority."

 

Some observers indicated that the delay in launching budget funding was due to reasons related to the elections, and fears that this money would be exploited for electoral reasons.

 

The value of the budget for the current year, 2023, is 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit amounting to 63 trillion dinars (48.3 billion dollars). Parliament approved it on June 12, and the government appealed 12 articles that were added or amended to it. From Parliament, the tripartite budget and its instructions were published in the Official Gazette early last August.

 

In a related context, economic expert Bassem Jamil Antoine told “Al-Sabah”: “All ministries, contractors, and employers - who have financial liabilities owed by the state - are waiting for these amounts to be disbursed, but nothing has been disbursed so far, although citizens commented.” Their hopes are on that money, especially in the electricity sector.”

 

He continued, "The government must take a step to settle and clear financial amounts with employers to reduce unemployment rates, and support work in the private sector, as the ministries are indebted to many companies."

 

He pointed out that there is no justification for the delay in releasing the funds, "and the necessity of follow-up by Parliament and the Prime Minister so that the matter can be discussed."

 

Edited by: Muhammad Al-Ansari

[yota691]

Parliamentary integrity explains the reasons for the delay in releasing financial allocations to the budget by reducing its deficit

• Time: 10/09/2023 18:54:26
•  
• Read: 1,677 times

  

{Local: Al-Furat News} The Parliamentary Integrity Committee explained, today, Monday, that the reasons for the delay in releasing financial allocations to the budget lie in reducing its deficit.

 

Committee member Ali Turki told Al-Furat News: “The reasons behind not disbursing budget allocations to governorates and ministries are due to waiting to reduce the fiscal deficit and provide cash liquidity.”

He added, "As there is a financial deficit estimated at 40% of the value of the budget, we consider that these months are preparatory before launching work on the projects."

Turki stated, “The move away from the date since the launch of the budget is to make it easier for the government to have enough cash to sustain its projects during the next two years.”

 

From: Raghad Dahham

[yota691]

What is the relationship of the US Federal Reserve to the federal budget?

• Time: 10/10/2023 18:19:47
•  
• Read: 4,693 times

  

{Economic: Al-Furat News} A senior source revealed, today, Tuesday, that the US Federal Reserve was behind not launching financial allocations in the budget.

 

The source told {Al-Furat News} that: “The reasons behind not releasing financial entitlements and allocations in the budget come due to the problems of the US Federal Bank’s intervention, as well as issues in the Ministry of Finance.”

 

The source explained, “The Federal Reserve is still in control of the financial budgets,” expecting, “This matter will end two weeks from now.”

 

In June, the Iraqi Parliament approved a 2023 budget amounting to 198.9 trillion dinars ($153 billion), which includes record spending on an increasing government wage bill and development projects aimed at improving services and rebuilding infrastructure destroyed by neglect and war.

 

Various Iraqi parties attributed the delay in launching financial allocations in the federal budget for the year 2023 to various reasons, including technical and political differences related to the Kurdistan region’s share of the budget.

 

For his part, a member of the Parliamentary Oil and Gas Committee, Ali Saadoun, criticized the Ministry of Finance’s delay in releasing allocations and financing for ministries and governorates.

 

Saadoun told {Al-Furat News} agency, “Parliament approved the price of a barrel of oil in the budget at 64 dollars per barrel, and in fact, oil prices since the budget was approved until now have averaged 80 to 90 dollars,” and he stressed, “There must be an accountability for the Minister of Finance and an explanation of the reasons for not Funded by governorates and ministries so far.

 

From: Raghad Dahham

[DWS112]

1 hour ago, yota691 said:

“The Federal Reserve is still in control of the financial budgets,” expecting, “This matter will end two weeks from now.”

really ?

[southbeach]

8 hours ago, DWS112 said:

really ?