More Iraqi News Friday AM 11-13-20
TLM724 Administrator BondLady’s Corner
11/13/2020 Some social networking sites reported false and incorrect information regarding the intervention of the Deputy Speaker of Parliament, Dr. Bashir Haddad, at the dawn session on Thursday 12/11/2020, in which the vote on the financial deficit financing law and the position of Parliament Speaker Muhammad Al-Halbousi regarding it was taken.
The Media Department in the House of Representatives wishes to clarify to the public opinion that the Speaker of Parliament gave a role to the Vice President of the House to intervene with all appreciation and respect in which Dr. Bashir Haddad stressed the need to close ranks and unify positions and give the opportunity for Kurdistan region negotiators to reach Baghdad and agree on what is different Accordingly, in the paragraph mentioned in the Fiscal Deficit Financing Law.
The media department denies altogether and in detail the existence of any tension between the two masters, the speaker of the council, Muhammad al-Halbousi, and the deputy speaker, Dr. Bashir Haddad. Between the political forces, as can be seen from the recording of the session posted on the media department’s YouTube channel. Media Department House of Representatives 13-November-2020
Al-Kaabi calls on the Prime Minister and Minister of Finance to pay employees’ salaries
11/13/2020 Mr. Hassan Karim Al Kaabi, First Deputy Speaker of Parliament, calls upon Prime Minister Mustafa Al-Kazemi and Minister of Finance to direct the concerned authorities to pay the employees’ salaries tomorrow, Friday and next Saturday, given that they have been late for not a little while.
The media office of the first deputy speaker of the House of Representatives 12-11-2020 LINK
Statement of the Finance Committee regarding voting on the Fiscal Deficit Financing Law
11/13/2020 Despite the great effort made by the Parliamentary Finance Committee to reduce the government spending gap from 41 to 12 trillion dinars in the recently approved deficit financing law, we renew our objection to continuing to pursue a policy of borrowing as an alternative to finding real and effective ways and reforms to increase revenues and reduce expenditures. .
And what prompted us to accept this limit of borrowing is the people’s livelihood and their strength represented by salaries, grants, subsidies, medicines, support to farmers, provincial projects and other expenditures that we believe are of utmost importance and which are inevitable to accept.
And while this law included some applicable legal texts, which we think may be the beginning of reforming some institutions and financial movements in the short term, we are working to present an integrated vision to develop quick and realistic solutions to address the economic and financial deterioration that the Iraqi state suffers from.
We call on the government, with its various ministries and institutions, to adopt a policy that adopts economic feasibility as an attempt to achieve self-sufficiency, even partially, especially with regard to production or service ministries, and that it does not always make us face two options, either accepting the policy of borrowing or cutting off the livelihood of the people of our great people. Finance Committee House of Representatives 13-November-2020 LINK
Some notes about the Fiscal Deficit Financing Act
Pratha News Agency60 2020-11-13 Dr. Bilal Al-Khalifa || The law came a year after the federal budget was not approved, and the law included paragraphs similar to the federal budget such as revenues and expenditures,
1- The law in its first draft states that the law was prepared for the last four months of 2020 and amended to the last three months, but the truth is that the remaining period A month and a half of the year 2020.
2- It was mentioned that the selling price of a barrel of oil is $ 40.51, and we noticed three days ago that the price of a barrel of Brent reached 39 and West Texas reached a price of $ 37. Therefore, the price of the proposed barrel is large, unless we expect oil prices to improve as a result of the good news about the Corona pandemic vaccine.
3- There is a clause that obliges the Kurdistan region to deliver 250 thousand barrels per day exports to the federal government, although it exports more than that. Some MPs have stated that it exports up to 600 thousand barrels. If we do a simple math, 250,000 Exported Quantity x 40.51 dollars x 30 days = 303,825, $ 000, which is less than what Al-Kazemi gives to the Kurdistan region per month, according to government spokesman Mulla Talal.
4- The exchange rate has been fixed for the dollar in the local currency = 1182, but the reality of the situation says otherwise, as the sales center sells at 1245.
5- In Article -1- before the amendment, total revenues for four months were (19719483139) dinars, that is, 16683149.86 dollars, sixteen billion six hundred and eighty-three million, and the amount of oil revenues only 3033273 barrels per day 40.51 dollars 30 days 4 months = 14,745,346,707.60 dollars, i.e. four Ten billion. 14.744 / 16.683 = 0.88 = 88%, meaning that the volume of oil imports is 88% of the proposed budget, and this means that there are no reforms that prevent dependence on oil.
6- The amount of money going to the licensing tour companies is 5,006,282,093 Iraqi dinars, which is equal to 4,235,433.24 dollars, and this means that one billion dollars (a trillion and a quarter of dinars) goes to the licensing round companies.
7- The revenues for three months are (10,500,000,000 ten trillion dinars), the expenditures for these months are (22,500,000,000 twenty-two trillion five hundred billion dinars) and this means a deficit of 12 trillion dinars. 8- 150 billion dinars were allocated to support the Ministry of Agriculture, and this paragraph came under pressure from some MPs, but when Al-Kazemi went to Kurdistan, he took with him 420 as financial dues to the farmers of the Kurdistan region, and for the knowledge that the products of Kurdistan farmers are not delivered to the federal government, but go to the pocket of the Kurdistan government, but Baghdad who pays .
Result 1- The law did not include the most important paragraph, which is how to treat the deficit in the budget, which will be paid through external and internal debt, and this means that the coming months in the next year 2021 we will resort to borrowing also because there is no plan to solve the deficit.
Mulla Talal: The files of important figures accused of corruption will be opened in the coming weeks
Time: 11/13/2020 15:54:38 Read: 3,068 times (Baghdad: Al Furat News) A spokesman for the Prime Minister, Ahmed Mulla Talal, revealed that the Supreme Committee to investigate major corruption cases, will open in the coming weeks the files of important personalities accused of corruption.
Mulla Talal said in a press statement, “The Anti-Corruption Committee has been given great powers, and is concerned with files that may overthrow the bureaucracy in other institutions, such as the Integrity Commission, without canceling the role of the latter.”
He added, “The committee has been working for two months in complete secrecy and professionalism, and investigative judges have issued arrest warrants against more than 20 people, including well-known and heavy personalities in the state.”
Prime Minister Mustafa Al-Kazemi, two months ago, formed a supreme committee to investigate major corruption and exceptional crimes cases, with direct support from the Counter-Terrorism Service. LINK
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