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More Iraqi News Monday PM 10-12-20

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Due To Lack Of Liquidity … Finance Announces Once Again The Suspension Of Employee Salaries!

Author: AhadNA4 On 10/12/2020 – 5:19 PM 44  An informed source revealed, on Monday, that the Iraqi Ministry of Finance had stopped paying employees’ salaries, a few days after the launch of salaries late last September.

The source said: The finance informed the banks to stop paying salaries due to the lack of the necessary cash flow on the one hand, and pending the parliament’s vote on the lending law.

And he indicated that banks have released salaries to most ministries, and the rest of them belong to departments of different ministries and some independent bodies.

It is customary to pay the salaries of employees, starting from the 15th of each month and until the 26th of the same month, but last September, the salaries of government employees were late for the first time due to the financial crisis.

And the Iraqi Finance had previously confirmed that the financial pressure in the country will continue in the foreseeable future, as the country’s main source of income from oil exports will be constantly affected by the global decline in demand and the massive outbreak of the Coronavirus.

And last September, the total financial revenues from the sale of oil amounted to 3.1 billion dollars, while Iraq needs 5 billion dollars to cover the salaries of 4.5 million state employees.

And Iraq, the second largest producer of crude in the “OPEC” after Saudi Arabia, with a daily average of 4.6 million barrels in normal conditions, and depends on crude to provide more than 90 percent of its revenues.

Parliamentary Finance Decides To Raise The Borrowing Bill For The Presidency Of Parliament In Preparation For Its Passage

Author: Ahad7 On 10/12/2020 – 4:56 PM 62   Today, Monday, the Parliamentary Finance Committee decided to raise the borrowing bill for the Presidency of Parliament in preparation for its first reading, while noting that it was stressed that the government should send the economic reform paper.

A statement from the office of the Deputy Chairman of the Committee Muthanna Al-Samarrai, a copy of which Al-Ahed News received, stated that “The Finance Committee held a meeting at its headquarters in the House of Representatives building headed by its Vice President Muthanna Abdul Samar Al-Samarrai, and discussed the economic situation in the country and the draft borrowing law that the government sent to the House of Representatives To pass its legislation in light of the severe economic crisis that the country is going through.

Al-Samarrai stressed during the meeting, “the need to study the borrowing bill extensively before enacting it and studying its economic effects on Iraq, especially what it represents in bearing heavy burdens that may continue for generations to come.” Is serious about maximizing the country’s financial resources, just as it hastened to send the borrowing bill.

According to the statement, the committee decided to “submit the draft law to the Presidency of the Council of Representatives in preparation for presentation to the House and its first reading and transferring it to the committee’s financial advisor to provide detailed advice on the law. Days after his conditional approval to borrow on June 24, which has not yet happened.

Parliament Keeps The Session Open And Decides To Resume Tomorrow, Tuesday

Author: Ahad7 On 10/12/2020 – 5:35 PM 39  A parliamentary source said today, Monday, that the Presidency of Parliament decided to keep the session held for this day open until further notice.

The source told “Al Ahed News”, “The session will resume tomorrow, Tuesday, in the hope that political forces will reach solutions regarding the electoral districts, after the meetings and meetings that they are currently holding.”

He pointed out that “the session will remain open until an agreement is reached in the electoral districts, and in the event that there is no agreement on a specific formula, other topics will be raised during the session for dialogue.”

The Financial Committee Discusses The Law Of Financing The Fiscal Deficit

Economy  Sunday 11 October 2020 | 06:41 pm| Views: 188  The Financial Committee, headed by Deputy Muthanna Al-Samarrai, Vice Chairman of the Committee, and the attendance of committee members on Sunday 10/11/2020, held a meeting in which it discussed a number of issues on its agenda, most notably the salary crisis and the financial deficit financing law.

The Finance Committee stressed during the meeting held at its headquarters that the issue of securing the salaries of state employees falls within the responsibility of the government and its obligations before citizens, and the role of the House of Representatives in general and the Finance Committee in particular is to legislate laws that enable the government to fulfill those obligations.

The Finance Committee also made it clear that it had presented many proposals and opinions that would bring the country out of the economic crisis that afflicts it by maximizing the state’s non-oil revenues, as well as sparing the country from the negative effects of borrowing policy that may be burdened by future generations.

The committee discussed the law on financing the fiscal deficit, which came due to the delay in approving the draft federal budget law for the year 2020 and the continuation of oil prices at low levels.

The Speaker Of Parliament Receives The President Of The National Investment Commission

10/12/2020  The Speaker of Parliament, Muhammad Al-Halbousi, received today, Monday, the President of the National Investment Commission, Mrs. Soha Dawoud Najjar.

The meeting reviewed the work plans of the National Authority and its investment policy for the next stage, to attract successful investments, and ways to activate the investment sector by finding real investment projects and overcoming obstacles facing investors.

During the meeting, His Excellency affirmed that the activation of investment requires amendments to the laws in force, indicating that the House of Representatives is awaiting the arrival of the draft amendment to the law from the government, stressing the parliament’s support for making amendments that contribute to activating this vital activity, which will work to strengthen the economy and provide job opportunities. Eliminate unemployment.

The meeting also discussed the need to activate investment in the industrial and agricultural sectors, especially after the deterioration of oil prices, and the importance of supporting the Iraqi investor and involving him strongly in the investment process.   The Media Office of the Speaker of Parliament, October 12, 2020  LINK

A Representative Meeting With The President Of The Investment Authority Confirms The Authority’s Support And Correct Its Course Of Action

Monday 12, October 2020 17:07 | Economical Views: 45  Baghdad / NINA / The Parliamentary Special Committee for Investment hosted the President of the National Investment Commission, Suha Al-Najjar.

The meeting discussed the plans to develop investment in Iraq and the vision set by the new presidency of the authority for the next stage, and the possibility of increasing investment activity in the agricultural, industrial and residential sectors, while discussing plans to attract real local and international investors.

For her part, the head of the National Investment Commission, Suha al-Najjar, affirmed that she is working seriously alongside the parliamentary committees and other federal joints to reform the situation within the Investment Authority. / End 5

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