Tlm724 Administrator Bondlady’s Corner
In Detail.. Al-Sudani’s Advisor Reveals The Reason For Not Implementing The Budget Law: It May Require A “State Order”
Policy breaking Public budget Federal Supreme Court Iraqi Council of Ministers
2023-07-08 23:09 Shafaq News/ Today, Sunday, the financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the reason why the budget law has not been implemented until now, despite it being published in the Official Gazette (Al-Waqee’).
Salih told Shafaq News agency, “The federal general budget for the three years 2023-2025 begins to come into effect practically since the aforementioned law was published in the Official Gazette of the Republic of Iraq, but there are two factors affecting the start of implementation immediately,
The first: that the Ministries of Finance and Planning issue implementation instructions The general budget law for the current fiscal year, which will extend until the year 2025 on the one hand, and
on the other hand, it turns to an issue through which the government may wait for a solution to the problematic of the paragraphs that were appealed to the Federal Court and which relate to the articles added by the House of Representatives to the previously approved draft budget law From the Council of Ministers and submitted to Parliament for legislation.
He added, “The added legal issues and materials that are related to the issue of separation of powers or adding articles that constitute a spending burden on the general budget and fall outside the powers specified by the constitution for the House of Representatives when preparing the legislation of the budget law, noting that the power of the House of Representatives to amend except for legislation are (reducing expenditures and transferring between chapters and chapters).
And that “the government is currently awaiting the implementation of the budget law,
it may obtain (a state order) from the Federal Court to suspend the articles or legal texts contested in the budget law in order to be frozen or suspended without implementation and proceed with implementation in the rest of the paragraphs until the issuance of the final decision of the Federal Court.”
And for this reason, I see that these factors are the essential constraints pending the implementation of the General Budget Law so far, especially after the law was issued in the Official Gazette.
On Monday (June 26), the official Iraqi Gazette published by the Ministry of Justice published the text of the general budget law for the years (2023, 2024, and 2025).
And the Iraqi parliament voted, on June 12, on the federal budget law for the years 2023, 2024, and 2025, after discussions that lasted for five days.
The value of the current year budget is 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit of 63 trillion dinars (48.3 billion dollars), while the items of the 2023 and 2024 budgets have not been published.
The Stability Of The Exchange Rates Of The Dollar Against The Dinar In The Local Markets
Monday 10, July 2023 Economical Number of readings: 330 Baghdad / NINA / The exchange rates of the dollar against the dinar witnessed stability in the stock market and local markets today, Monday.
Al-Harithiya and Al-Kifah Stock Exchanges recorded, on Monday morning, an exchange rate of 147,750 Iraqi dinars for 100 dollars.
The selling price of the dollar in exchange offices and local markets reached 148,750 dinars per hundred dollars, and the purchase price was 146,750 dinars per 100 dollars, which are the same prices as yesterday, Sunday./ End https://ninanews.com/Website/News/Details?key=1064104
The Canadian Ambassador Is Discussing In Kirkuk The Economic And Service Conditions In The Province
Monday 10, July 2023 | Economical Number of readings: 310 Kirkuk / NINA /- The Canadian Ambassador to Iraq, Gregory Galligan, met the representative of the Governor of Kirkuk, the technical assistant, Eng. Ali Hammadi, in the governorate building.
During the meeting, they discussed the economic and service conditions in the province.
The technical assistant confirmed that the province of Kirkuk is witnessing a great development in the field of reconstruction and construction and the provision of services to all its citizens, in addition to working on the reconstruction of the liberated areas and the return of the displaced to them.
He pointed out: “Kirkuk represents a wide space for investment and development due to the achievements, stability and coexistence witnessed.”
For his part, the ambassador indicated that his first visit to Kirkuk will contribute to encouraging the ambassadors of countries to visit it and see its reality and importance. He valued the importance of the international airport and the progress witnessed by the province. The ambassador had arrived in Kirkuk this morning through its international airport. https://ninanews.com/Website/News/Details?key=1064125
Oil Prices Fell After US Statements About An Economic Recession
Economy | 10:22 – 10/07/2023 Baghdad – Mawazine News Oil prices fell in trading today, Monday, amid fears of a decline in demand for crude, after US statements that warned of an economic recession in the United States.
By 10:12 Baghdad time, US West Texas Intermediate crude futures fell by 0.76% to $73.30 a barrel.
While Brent crude futures fell by 0.71% to $77.91 a barrel, according to Bloomberg agency data.
Earlier, US Treasury Secretary Janet Yellen did not rule out an economic recession in the United States, and said, “The risk of a recession in the United States is not far from the table.”
https://www.mawazin.net/Details.aspx?jimare=231008
On The Anniversary Of The Liberation Of Mosul.. Washington Confirms Its Commitment To Help Iraq
political | 10/07/2023 Baghdad – Mawazine News, the US Ambassador to Iraq, Ilia Romansky, affirmed her country’s commitment to helping Iraq.
“On the occasion of the anniversary of the liberation of Mosul, we affirm our commitment to work through the International Coalition against ISIS and other partners to help Iraq and ensure the permanent defeat of ISIS, and support stabilization efforts to encourage the return of the displaced to their local communities,” Romansky said in a tweet, followed by Mawazine News.
https://www.mawazin.net/Details.aspx?jimare=231029
Total To Al-Sudani: We Will Start Working On The Sites Within Days
Political | – 10/07/2023 Baghdad – Mawazine News, Prime Minister Mohamed Shiaa Al-Sudani received, on Monday, the CEO of the French Total Energies Group, Patrick Pouyanne.
Al-Sudani’s office stated in a statement, which Mawazine News received a copy of, that “during the meeting, they discussed aspects of cooperation within the recently concluded contract between Iraq and Total, as he blessed the start of implementation steps on the ground.”
Al-Sudani stressed, “The government has come a long way with commitments and reaching this stage,” noting that “the contract with the company and the fifth licensing round fall within the strategic vision for gas investment, which Iraq was late to start investing in.”
He renewed the government’s approach towards concluding serious partnerships with major companies in terms of investing in natural resources, and benefiting from associated gas in particular.
For his part, Pouyanne said, “His company is heading towards broad cooperation with Iraq, its confidence in partnership in the fields of energy, and investing in promising and ambitious sectors in this field,” stressing that “the company’s technical teams will start their work in their locations within days.” https://www.mawazin.net/Details.aspx?jimare=231030
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