Iraqi News Highlights Monday Evening 3-13-23
Tlm724 Administrator Bondlady’s Corner
After Being Sent, The Budget Enters The Area Of Sharing The Spoils: Will It Be Passed Or Suspended?
Information / special The new government took advantage of a legal clause that was ignored by all successive governments after the fall of the regime, which is to work on approving a budget for three consecutive years that it has the right to amend at the end of each fiscal year, which was welcomed by the political circles that hoped to implement it on the ground, and yet there is fear From entering the area of political conflicts in Parliament, given the demands made by some political blocs in return for voting on the draft budget.
* A qualitative leap in budgets
And speaking of the government’s step in approving the budget for three years, Hussein Al-Sabri, a member of the Parliamentary Investment and Development Committee, said in an interview with Al-Maalouma, that
“the government made a qualitative leap in budgets compared to all the years that were approved in the past,” noting that
“the government is able to add Appendix to the budget at the end of each fiscal year. And he continues,
“The Council of Ministers’ decision to vote on the budget for a period of three years is a kind of financial stability for the state,” pointing out that
“this decision will facilitate early elections in the event that funds are allocated for them in this budget.” And he added:
“The decision will work to avoid delaying the next budget in order to finance the elections or the amount of expenses that will be spent on them.”
And the Council of Ministers had announced, earlier in the day, the approval of the draft budget law amounting to more than 197 trillion Iraqi dinars for the fiscal years 2023, 2024 and 2025 and its referral to the House of Representatives to pass it officially after making amendments to it.
* A step in the right direction
In addition, the independents welcomed the budget decision and counted it as a step in the right direction in reforming the economic sector in Iraq.
And independent MP Mustafa Al-Karawi stated in an interview with Al-Maalouma agency,
“Following the approval of the budget for three years is a purely institutional work that will prevent actions at the individual, partisan, or component level,” noting that
“the government is able to make amendments to the draft budget annually.” And he continues,
“The approval of the budget for three consecutive years is a step in the right direction from the positives that are calculated for the current government,” noting that
“the government’s plan is a program that represents the government’s long-term thinking about achieving stability for the country at the level of the economic and financial sector.” And Al-Karawi concluded his speech:
“This plan will make the next governments start from what the current government has finished, and not work on new planning that will cost time in approving it and delay in implementing its paragraphs on the ground.”
* Legal move
In the meantime, legal expert Ali Al-Tamimi settled the controversy of voting on the budget for three consecutive years.
In an interview with Al-Maaloumah Agency, he mentioned that
“approving the general budget is possible constitutionally and legally according to Article 4, Paragraph 2 of the Financial Management and Public Debt Law No. 6 of 2019, which authorized the merger, which is medium-term for the next three years, and
the first year is obligatory for application as it is,” pointing out That
“the two subsequent budgets are subject to amendment by Parliament and according to circumstances that arise in the future.” And he continued,
“The government’s plan is a matter that fits the philosophy of budget legislation, which is a future financial plan that prevents the delay in legislation for the upcoming budgets,” noting that
“it is possible to estimate the value of oil and the price of the dollar, and specify appointments and jobs in it with complete stability that guarantees their implementation.”
With the government seeking to approve the budget, the Iraqi street awaits its official approval in Parliament, and
there is fear of political differences controlling it and sharing the spoils from some parties that seek to raise the percentage of their share in the draft budget law, even if it is at the expense of other components. Ended 25 / y
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.” https://economy-news.net/content.php?id=32906
Al-Moussawi Reveals That There Is A Political Consensus To Pass The Oil And Gas Law After Approving The Budget
Monday 13 March 2023 11:42 | political Number of readings: 350 Baghdad / NINA / – The representative of the Sadiqoon Bloc, a member of the Parliamentary Oil, Gas and Natural Resources Committee, Zainab Jumaa Al-Mousawi, revealed today, Monday, the existence of a semi-political consensus, as well as Kurdish convictions to pass the oil and gas law after approving the 2023 budget. And Al-Moussawi said, according to the bloc’s website,”
No There are no concessions by the government towards the region, but there are continuous understandings between Baghdad and Erbil on the oil and gas law. And she continued,
“The law will join the oil relationship between Baghdad and Erbil, and
the Oil, Gas and Natural Resources Committee pays great attention in order to reach the passage of this law, which will be fair and just in its provisions and does not allow any province to deviate from its contents and provisions.” / End 9 https://ninanews.net/Website/News/Details?key=1040130
The Central Bank Sells More Than $215 Million In An Auction Today
Economy News-Baghdad The Central Bank announced, on Monday, the sale of more than 215 million dollars through the currency sale window.
The bank stated in statistics on its official website that “the total amounts of transfers abroad (remittances, credits) amounted to 147.1 million dollars.”
He added, “The total amounts of cash sales amounted to 68.3 million dollars,” noting that “the total sales amounted to 215.4 million dollars.”
He pointed out that “the price of selling amounts of documentary credits and international settlements of electronic cards amounted to (1305) dinars per dollar, and the price of selling amounts of transfers abroad is (1310) dinars per dollar, and the price of cash sales is (1310) dinars per dollar.”
The Decline In The Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Market
Economy Monday, March 13, 2023 4:22 PM Baghdad / The National News Center The exchange rates of the US dollar decreased against the Iraqi dinar, today, Monday, with the closure of the main stock exchange in Baghdad.
The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed at an exchange rate of 153,800 Iraqi dinars against 100 dollars, while the prices recorded this morning were 156,400 dinars against 100 dollars.”
He added, “The buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 154,500 Iraqi dinars, while the purchase prices reached 153,000 dinars per 100 dollars.” https://nnciraq.com/192912/
To read more current and reliable Iraqi news please visit BondLady’s Corner: