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More Iraqi News Saturday PM 10-10-20

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Learn About The Terms Of The Economic Reform Paper That The Ministry Of Finance Will Release Soon

Employees in one of the real estate registration departments

Money and business   Economy News – Baghdad  Professor of Economics at Basra University, Nabil Al-Marsoumi, revealed some of the articles of the economic reform paper called the “White Paper”, which the Finance Ministry is working on to reform the economy.

Al-Marsoumi said, “As I expected in previous publications that the government reform paper will not deviate from the framework of the IMF’s policies and austerity measures with high social costs. This can be seen by looking at some of what was mentioned in the reform paper that the government called white, as follows :

1- Reducing the wage and salary bill from 25% of GDP to 12.5% within three years

2- Reforming the retirement fund so that it is not linked to the budget, and retirement salaries are paid directly from the fund

3- Reducing financial support for state-owned companies by 30% every year for a period of three years

4- Reducing total government support from 13% of GDP to 5% within three years

5- Restructuring the public salary scale by stopping new employment and replacement operations in the public sector

6- Setting a higher ceiling for employees ’salaries to achieve justice and reduce differences

7- Applying income tax to employee allowances, incentives, bonuses, and others

8- Reviewing fuel subsidies for state-owned oil companies. The proceeds from the sale of black oil should be returned to the state treasury

9- Issuing national bonds and instruments and offering them for public circulation on the Iraq Stock Exchange

10- Studying the current exchange rate of the dollar against the dinar and taking into consideration the requirements of financial and monetary stability and achieving the competitiveness of the Iraqi economy

11- Restructuring the state-owned public companies and converting them into private companies

12- Correcting the defect in the ration card system to ensure the protection of people with limited income and withholding it from families whose income exceeds a certain ceiling .

13- Ensure that all workers in the public, private, mixed and cooperative sectors are included in retirement benefits

14- Completing the Social Insurance Law in order to be an alternative to the unified retirement, retirement and social security laws for workers    Number of observations 1098 Date of addendum 10/10/2020

https://economy-news.net/content.php?id=22178

Al-Halbousi: No Governmental Request Has Reached The House Of Representatives To Legislate A Law That Strengthens The Budget

Saturday 10, October 2020 17:13 | Political Views: 129  Baghdad / NINA / Parliament Speaker Muhammad al-Halbousi announced that no government request has reached the House of Representatives to legislate a law that strengthens the government’s budget to fulfill its obligations before citizens.

Al-Halbousi said, in today’s session on employee salaries, “no letter has been received to amend the borrowing law.

He added, “The budget law was received by the parliament and it was withdrawn on the same day to make amendments to it, and we are waiting for the government to send to the parliament a draft law that strengthens the government’s revenues to enable it to fulfill its obligations to the citizens.” It relates to the issue of salaries or other expenditures for which the government is directly responsible. ”/ End 5   https://ninanews.com/Website/News/Details?Key=861887

A Parliamentary Invitation To Host The Prime Minister And The Ministers Of Finance And Planning Before Parliament To Uncover The Truth About Salary Delays

Saturday 10, October 2020 14:31 | PoliticalViews: 194   Baghdad / NINA / Representative of the National Approach bloc, Hussein Al-Uqabi, called for hosting the Prime Minister, the Ministers of Finance and Planning, and all the personalities and parties concerned with the salary file inside the parliament, to find out the part of the salary delay and the truth of what happened during the past two weeks and to correct the performance and work of the government.

Al-Aqabi said in a press conference, “The financial crisis that the country was exposed to, especially with regard to the issue of delaying salaries, revealed a one-time truth, which is the inability of the government in general and the inability of the first official represented by the prime minister and the Ministry of Finance to address this dangerous file related to the livelihood and daily strength of Iraqis.”

Indicating that the government’s inability throughout the past period to present the economic reform paper, finance the necessary expenditures, and secure the salaries of employees reflects clear confusion, clearer mismanagement, and failure more clearly.

Al-Uqabi indicated that it is necessary to see the reasons for the conflicting statements of the Minister of Finance that it is impossible to finance salaries without approving the new borrowing law and then suddenly financing them after the minister met with the governor of the Central Bank, which may include a deliberate plan to drain the strategic storage of the Iraqi state in the central bank, warning against compromising the strategic storage of the bank The Central Bank to finance and cover the deficit in salaries, indicating that this will put us in great embarrassment in the face of international obligations and before the Iraqi people and official institutions, which is a disgraceful and shameful matter and a fundamental defect in the body of the Iraqi state.  https://ninanews.com/Website/News/Details?Key=861843

Al-Punabi Calls For Hosting Al-Kazemi And Allawi To Discuss Salaries: We Warn Against This Measure!

Political  Saturday 10 October 2020 | 02:33 PM| Views: 100  A member of the Parliamentary Legal Committee, Hussein Al-Aqabi, demanded, on Saturday (October 10, 2020), to host Prime Minister Mustafa Al-Kazemi and Minister of Finance Ali Allawi to discuss the file of employees’ salaries, while he warned of compromising currency reserves .

Al-Aqabi said in a press conference, inside the parliament building, that “the financial crisis that the country was exposed to, especially with regard to the issue of delaying salaries, revealed a truth once, which is the inability of the government in general and the inability of the first official represented by the prime minister and the Ministry of Finance to address this dangerous file related to the livelihood and strength of Iraqis.” Daily . ”

He added, “The government’s inability throughout the past period to present the economic reform paper, finance the necessary expenditures, and secure the salaries of employees reflects clear confusion and clearer mismanagement, and failure is evident and does not require bright minds to analyze and stand on .”

“We believe in the importance of hosting the Prime Minister, the Ministers of Finance and Planning and all the personalities and parties concerned with the salary file inside the parliament, to find out the partial delay in salaries and the truth of what happened during the past two weeks, uncovering the truth in front of public opinion and correcting the performance and work of the government, ” Al- Uqabi continued .

He continued, “We believe that it is necessary to examine the reasons for the conflicting statements of the Minister of Finance that it is impossible to finance salaries without approving the new borrowing law and then suddenly financing it after the minister met with the governor of the Central Bank .

The deputy pointed out that “it is important to inform the public about the course of this mysterious meeting, whose features or limits were not clear, and which may include a deliberate plan to drain the strategic storage of the Iraqi state in the central bank, which we strongly reject .”

Al-Uqabi warned of “compromising the strategic storage of the Central Bank to finance and cover the deficit in salaries, because it places us in severe embarrassment in the face of international obligations and before the Iraqi people and official institutions and is considered a disgraceful and defective matter and a fundamental defect in the body of the Iraqi state.”   https://aynaliraqnews.com/index.php?aa=news&id22=139613

Deputy: The Salary Deficit For The Current Month Amounted To 2 Trillion

18:10 – 10/10/2020  Information / Special …Member of Parliament, Hussein Arab, confirmed, on Saturday, that the government’s financial deficit reached for the current month only 2 trillion Iraqi dinars.

Arabs said in a statement to “the information”, that “the decision of the Minister of Finance, Ali Allawi, that there is no financial liquidity to secure salaries, is surprising to the House of Representatives,” pointing out that “the government’s financial deficit for the current month reached 2 trillion Iraqi dinars.”

He added that “borrowing will only take place through the House of Representatives, and the Ministry of Finance is not entitled to borrow without returning to it,” noting that “the House of Representatives has not received the financial and administrative reform paper so far.”

Last Thursday, the MP for the Alliance of Iraqis, Star Al-Jabri, revealed all parliamentary signatures to dismiss the Minister of Finance, Ali Allawi, for disbursing borrowing money by illegal means. Ended 25 T.

https://www.almaalomah.com/2020/10/10/499278/

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