BondLady’s Corner

  In Bondlady’s Corner 

More Iraqi News Friday PM 12-11-20

TLM724 Administrator BondLady’s Corner

Legal Expert: The Constitution Obliges The Government To Submit Final Accounts Before Approving The Budget

11:00 – 11/12/2020  Information / special  expert explained the legal Ali al – Tamimi, said that the Constitution requires the government to submit the final accounts to the Parliament before approving the budget, pointing out that the government in the absence of a vote on the budget , they acted money and salaries according to the system 1 12.

He said Tamimi’s / information /, that “Article 62 of the constitution requires the government to submit final accounts to Parliament before approving the budget … Either … Article 8 of Financial Management Law No. 6 of 2019 requires the Ministry of Finance and Planning to present the draft general budget law to the Council of Ministers in early September each year”.  He added that “Article 11 of the above law, the Financial Management, obligated the Council of Ministers, after receiving the budget, to present it to Parliament after discussing it in the middle of October.”

And that “Article 13 of this law above said that in the event that the General Budget Law is not approved until December 31, the Minister of Finance issues instructions for disbursement at a rate of 1/12 of the total expenditures.”

He continued: “As for the internal and external borrowing law for the year 2020 … it is only possible under which internal and external borrowing for the year 2020 only.”    https://www.almaalomah.com/2020/12/11/509574/

Parliamentary Finance: The Council Of Ministers Votes Tomorrow On The Budget And It Arrives In Parliament On Tuesday

Time: 12/11/2020 15:58:06 Read: 2,847 times   {Baghdad: Al Furat News} A member of the Parliamentary Finance Committee said that the draft federal budget law for 2021 is long overdue, and the House of Representatives needs at least a month to legislate it.

MP Sherwan Mirza said in a press statement today, Friday, that “the draft federal budget law for 2021 has been long overdue and the House of Representatives needs a month to legislate the law.”

He added, “The Federal Cabinet has a session to discuss and approve the budget tomorrow, Saturday, and I think that the budget will be before the House of Representatives at its next session scheduled for next Tuesday.”

He explained, “If the parliament is able to legislate the law before 1/20/2021, the government will be able to disburse the employees’ salaries on the specified date, but if the legislation of the law is delayed more than that, the government will need to return to the previous law and spend 1/12 of the total budget.”  LINK

Deputy: The Finance Committee Presented Dozens Of Proposals To Address The Iraq Crisis, Away From “Frequent Borrowing.”

13:03 – 11/12/2020   The information / Baghdad  MP Mudhar Al-Karawi confirmed, on Friday, that the Parliamentary Finance Committee had submitted dozens of important proposals to address the financial crisis in Iraq .

Al-Karawi said in an interview with “the information”, that “the financial crisis in Iraq is the beginning of an economic tsunami that may lead us to the unknown in light of the complications and the survival of 95% dependence on revenues from selling crude oil despite price fluctuations in global markets and the endeavor of all producing countries to fundamental changes in patterns. Economic and transformation into what is known as a diversified economy so that oil would be part of the revenues, not all.

Al-Karawi added, “The Parliamentary Finance Committee presented dozens of proposals to the government and the Ministry of Finance in order to maximize non-oil revenues through a roadmap in crucial decisions that address chaos in some financial windows and carry out reforms for others in a way that leads to an influx of huge sums of money to the state treasury that keeps the latter away from the repeated borrowing that It will have severe damage to the national economy in the long and medium term.

Al-Karawi noted that “the proposals must be studied and dealt with positively in order to ward off the risks of the financial crisis and the repercussions of borrowing, which if repeated, our situation will be very difficult.” Iraq suffers from a difficult financial situation due to price fluctuations in the global oil markets and mismanagement and planning of the current crisis. ”    https://www.almaalomah.com/2020/12/11/509599/

Deputy: Changing The Dollar’s Exchange Requires Severe Penalties For Currency Auction Manipulators

Time: 12/11/2020 17:18:57 Read: 221 times   The MP for the Sairoun bloc, Burhan Al-Mamouri, said today, Friday, that the instability of the currency rate will lead to confusion in the market and undermine confidence in the national economy.

Al-Mamouri said: The exchange rates of the Iraqi dinar against the dollar are witnessing a clear instability in the market, while we notice them steady in the currency auction, which indicates greedy speculations carried out by parties that do not want good for Iraq and its people. Suspect

He added: The big difference between the official price of the dollar and what is traded in the local markets confused the market and raised citizens’ concerns about the high prices of goods and foodstuffs, which causes a new burden on the Iraqi individual.

Al-Maamouri called for reconsidering the currency auction, monitoring the exchange rates in the local markets, and punishing all those who manipulate the currency rate with severe penalties to protect the national economy, which suffers greatly as a result of the absence of a strategic vision in managing the country’s financial file.  LINK

Al-Maamouri: The Instability Of The Currency Price Confuses The Market And Indicates Greedy Speculation

17:47 – 12/11/2020  The information / Baghdad ..MP Burhan Al-Mamouri confirmed today, Friday, that the instability of the currency rate will confuse the market and undermine confidence in the national economy.

“The exchange rates of the Iraqi dinar against the dollar are witnessing a clear instability in the market, while we notice them steady in the currency auction, which indicates greedy speculations by parties that do not want good for Iraq and its people,” Al-Mamouri said in a statement.

Al-Mamouri added: “The big difference between the official price of the dollar and what is traded in the local markets confused the market and raised citizens’ fears of high prices of goods and foodstuffs, which causes a new burden on the Iraqi individual.”

Al-Maamouri called for a review of the currency auction, monitoring the exchange rates in the local markets, and punishing all those who manipulate the currency rate with severe penalties to protect the national economy, which suffers greatly as a result of the absence of a strategic vision in managing the country’s financial file. https://www.almaalomah.com/2020/12/11/509641/

Parliamentary Proposal To Form A Supreme Committee To Manage The Economic Crisis

Author: AhadNA3 On 11/12/2020 – 12:23 PM 92  Al-Ahed News – Baghdad  the deputy from Diyala province, Mudhar Al-Karawi, proposed today, Friday, the formation of a supreme committee to manage the economic crisis that Iraq is going through, while warning of “ economic collapse. ”

Al-Karawi said, “The financial crisis that has plagued Iraq for months and the recurrence of the financial borrowing file in large amounts indicates that the country is going through a crisis that is not transient and its repercussions will be dangerous to the national economy if the 2021 budget does not carry realistic solutions.”

He added, “The time has come to form a higher financial crisis cell that attracts all economic competencies and to open channels of cooperation with international financial centers for a realistic study of the economic crisis and to find solutions that contribute to saving the economy.”

He pointed out that “the situation is not easy, and borrowing for the third time, according to the opinions of specialists, in which there are major problems and critical implications for the national economy, which needs solutions away from the file of repeated borrowing.”

Al-Karawi explained, “A stable economy is a stability for the state and society, and any negative repercussions will seriously harm citizens.”

https://alahadnews.net/142518/%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82/%d8%a7%d9%84%d8%b3%d9%8a%d8%a7%d8%b3%d9%8a%d8%a9/

The Council Of Ministers Issues A Decision To Establish 5 Private Universities

Editing date: 12/11/2020 15:01 • 70 times read   [Baghdad-Where]  The Council of Ministers decided to approve the granting of licenses to establish private universities in the governorates of Baghdad, Anbar, Muthanna and Basra.

The General Secretariat of the Council of Ministers stated in a statement, “The approval came in light of the remarks of the Legal Department of the General Secretariat of the Council dated 11/10 and 2/12/2020, and it was stated in the details of the decision taken at the twenty-ninth regular session, that the granting of Foundation license to two private universities in the capital, Baghdad, which are: Al-Mashriq National University and Ibn Khaldoun College, Al-Ahlia University.

She added, “The council also agreed to grant a foundation license to Al-Hoda College, Al-Ahlia University in Anbar Governorate, to Sawa Private University in Al-Muthanna Governorate, and to Al-Maqal National University in Basra Governorate. This comes based on the provisions of Article (4 / First) of the Law Private Higher Education (25 of 2016).

http://www.alliraqnews.com/modules/news/article.php?storyid=105039

Parliamentary Energy Reveals The Annual Cost Of Importing Gas

Energy   Economy News _ Baghdad   The Parliamentary Oil and Energy Committee revealed, on Friday, the annual cost of gas imported by Iraq.

The Iraqi News Agency quoted a member of the committee, Amjad Al-Uqabi, as saying, “Importing gas from Iran costs Iraq about two billion dollars annually, which is to operate the power stations,” pointing out that “there is a mismanagement that lies in the issue of gas investment, despite Iraq’s possession of natural gas of purity.” To 97% in the Akkas and Mansouriya fields. This gas is not invested.”

He added that, “Concerning crutch gas, a contract was signed with the (Cocas) company before 2014, and the company came and prepared the equipment, but the events of ISIS disrupted its work and pushed it out and delayed work,” noting that “the Parliamentary Oil and Energy Committee calls on the government and the Ministry of Oil to contract with giant and solid companies.” To provide domestic gas instead of imported, by investing in the two fields mentioned, in addition to the associated gas in the south.   Number of observations 180 Date of addendum 12/11/2020

https://economy-news.net/content.php?id=23086

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/