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More Iraqi News Tuesday PM 12-22-20

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Parliamentary Finance Expects That The 2021 Budget Will Not Be Passed, And It Is Likely That It Will Reach The Parliament Next Week

Pratha News Agency72 2020-12-22  The Parliamentary Finance Committee expected, on Tuesday, that the budget would not be passed due to the large number of disagreements regarding it, and it is likely that it will officially arrive to the parliament early next week.  A member of the Finance Committee, Jamal Cougar, said in a press interview that “the 2021 budget has major political differences between the blocs before it reaches parliament, especially the large deficit ratio approved by the Council of Ministers.”

He added that “it is expected that it will not be passed within the House of Representatives due to the disagreements on it,” noting that “the budget needs to be negotiated to agree on it, and the defect in the government sent it in a very short time.”  Cougar explained that “it is hoped that the budget will officially reach the House of Representatives early next week.   http://burathanews.com/arabic/news/382947

Finance Committee: It Is Difficult To Pass The 2021 Budget In Parliament Without This Condition?

Political| 04:22 – 12/22/2020  BAGHDAD – Mawazine News  The Parliamentary Finance Committee confirmed, on Tuesday, the need for a political agreement to pass the draft general budget law for 2021 in the House of Representatives.

A member of the committee, Sherwan Mirza, said that “the draft federal budget law for 2021 has not reached the parliament so far.”

He added: “For there must be a political agreement within the House of Representatives to pass the budget, especially the paragraphs related to imposing taxes on employees’ salaries.”

He pointed out that “Al-Kazemi presented some of the measures in the budget during his previous meeting with the political parties, as confirmed during his press conference.”

Representative Sherwan Mirza stressed that “it is difficult to pass the budget through the House of Representatives without a political agreement.” Ended 29 / A43   https://www.mawazin.net/Details.aspx?jimare=135229

Hassan Nazim Announces The Budget Arrival To Parliament / Expanded

Tuesday 22, December 2020 18:44 | PoliticalViews: 18   Baghdad ( NINA ) – Cabinet spokesman and Minister of Culture Hassan Nazim announced the arrival of next year’s budget to parliament.

He said in the weekly press conference that: The government has begun to treat the previous economic legacy, and we have implemented the White Paper in the budget of next year.

Nazem added: The government’s goal in the White Paper is economic reform, and it is carrying out a historic responsibility, which is to initiate reform.

He explained: The salaries of employees with limited income did not affect much in the budget for the next year.

And Nazem added that: Fighting corruption is an idea with a central structure in the government, and the Anti-Corruption Commission has revealed many facts and took them to integrity.

And that: The Council of Ministers agreed to authorize the Director General of the General Company for Ports of Iraq the authority to sign contracts with Daewoo to establish the Faw Port project

Nazem indicated that: Iraq will witness the entry of the Corona vaccine in the first quarter of next year.

He stated that: The Council of Ministers voted to authorize the Director of the Civil Aviation Authority to sign a memorandum of understanding for the rehabilitation of Mosul Airport and approved the Ministry of Finance to own industrial projects. / End 3    https://ninanews.com/Website/News/Details?Key=877802

The People, Not The Government, Deposit In The Central Bank

December 21, 2020284   Dr.. Fatih Abdul Salam   Whatever the size of government addresses, it is absolutely not correct to undermine the size of the address of the Central Bank of Iraq. It is also not correct for the personality of the bank to dissolve into government formations, even if it is the Ministry of Finance. If that dissolution occurs, there is no value in the sense of an independent legal personality, and this is an explicit threat to the financial depth of the country.

The finance minister’s justifications do not seem convincing. Rather, they are dangerous and alarming when he said that the decision to reduce the value of the Iraqi dinar by up to twenty-five percent of its value is sufficient to prevent the collapse of the hard currency reserves that were threatening the country within seven months. We do not know why the central bank cannot prevent prejudice to the basic reserve, whatever the government’s financial problems, because most of the problems are made by politicians and their parasitic margins, and the great trust deposited with the central bank should not be touched because it is the last line of defense before the unfortunate occurrence of consequences.

As if the new measures that are almost coordinating the safety and social safety valves are designed to cross the supposed government period until the expected early parliamentary elections, after which the flood will come.

Damaging the citizen’s livelihood and livelihood and raising a decent life for his children is the easiest placebo and temporary treatment for those unable to devise a firm strategic plan that graves corruption and recovers billions of money from looters from the first grade and following rows in the miserable political process with corruption.

Officials who memorize the World Bank’s pamphlets, instructions and regulations, and do not decipher the line in reading one line of the suffering of millions of Iraqis, but rather their unknown fate awaits the country. Editor in Chief – International Edition    LINK

The Cabinet Decides To Impose A 40% Tax On The Salaries Of The Three Presidencies And Special Ranks

Council of Ministers headed by Mustafa Al-Kazemi

Money  and business  Economy News – Baghdad   The Cabinet voted on the 2021 budget bill and sent it to Parliament for discussion and voting on it.

A source in the Council of Ministers told Al-Eqtisad News that “the 2021 budget bill includes imposing a 40% tax on the salaries of presidents, ministers, deputies, general managers and special ranks.”

He noted that employees whose salaries are less than a million will not be included in the new tax.

He confirmed that the cuts in the allowances were canceled and replaced with a progressive salary tax that starts at 8% and ends at 40%.

Number of observations 323 Date of addendum 12/21/2020  https://economy-news.net/content.php?id=23253

A Possible Increase In Oil Prices May Transform The Budget Deficit From Actual To Hypothetical

Economie| 02:50 – 12/22/2020   BAGHDAD – Mawazine News, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, expected, on Tuesday, a rise in oil prices to $ 65, while indicating that this rise will transform the 2021 budget deficit from an actual to a hypothetical deficit.

According to the official agency, Saleh said, “The strategic analysis centers in the world expected oil to reach levels that are similar to average crude prices in the year 2019, at $ 65 or more per barrel.” And especially the strong economic machine activity of the group of countries with emerging markets that harvest about 40% of the growth in the world, including China, India, Korea and others.

He added that “the development of the degree of openness in the global economy increases the sustainable demand for crude oil in the energy market, especially for transport purposes, which constitutes 70% of the global demand for oil products.”

He pointed out that “the rise in oil will transform the planned deficit in the 2021 budget draft from an actual deficit into a hypothetical deficit, which can be financed from oil revenues and price escalation.” From the revenues of the general budget in Iraq, the financing of the deficit will change from borrowing to the availability of automatic financing from the oil financial buffer of Iraq, which means that the actual deficit will shrink or disappear, and it becomes a hypothetical phenomenon rather than an actual one.

And Saleh continued: “Everything is possible in the world of economics, and that clarity of vision in the global economy will reach its extent at the end of the first quarter of 2021.”    https://www.mawazin.net/Details.aspx?jimare=135214

Representative Legal: Oil Did Not Deliver The Derivative Revenues To The State Treasury

Pratha News Agency78 2020-12-22  The Parliamentary Legal Committee revealed, on Tuesday, that the Ministry of Oil had not handed over the revenues of oil derivatives to the state treasury.

Committee member Hussein Al-Aqabi said in a press statement that “the Ministry of Oil did not hand over the revenues of oil derivatives achieved from sales to the state treasury without knowing the reasons for that,” noting that “this revenue is not small and it is possible to benefit from it in addressing the financial crisis.”

He added that “the government does not have an economic policy that enables it to address the imbalance,” noting that “the government is pushing the country towards a major economic disaster through the current policy of raising the price of selling the dollar and increasing the volume of taxes.”

On Monday, the Parliamentary Economic and Investment Committee considered the policy of the government and Minister of Finance Ali Abdul Amir Allawi regarding the economic crisis as far from the citizen and reality.

The Parliamentary Economic Committee confirmed, the day before yesterday, Sunday, that the government of Prime Minister Mustafa Al-Kazemi is unable to address the current financial crisis.

http://burathanews.com/arabic/economic/382945

Parliament Presidency Submits A Request To The Government Regarding The Local Product

Economie| 03:06 – 12/22/2020   BAGHDAD – Mawazine News The Presidency of Parliament directed, on Tuesday, a request to the government regarding the local product.

The media office of the Deputy Speaker of Parliament, Hassan Al-Kaabi, stated in a statement that Mawazine News received a copy of, that the latter “received today, representatives of the owners of local industrial factories specialized in the production of paints, in the presence of a number of members of the parliamentary committees” Energy, Economy and Investment, Services, and others. ”

the statement added that” al – Kaabi listened to the problems of their industries relating to Standard oil derivatives and high tariffs on raw materials , “noting that” the current trend is moving towards the Iraqi industry development and domestic production in general, in order to reduce the waste of hard currency on Import, as well as creating additional job opportunities for the youth segment and diversifying the country’s imports. ”

Al-Kaabi called on the authorities concerned with the development of the Iraqi private sector, “to adopt appropriate instructions to implement the enacted laws aimed at protecting the national product and encouraging the Iraqi private sector.”

He continued, “Sometimes instructions are issued far from the desired goals of the enacted laws, especially the protection of the local product and the protection of the consumer, and among these instructions the imposition of customs duties on the raw materials entering the local industry and the same amount imposed on the imported product, and here the concerned authorities must reconsider the same.” These decisions and instructions. ”

Al-Kaabi called on government agencies to “support the national product by facilitating some procedures and equipping them with energy and oil derivatives required by the production process, and thus it will reflect positively on the development and expansion of their industries in order to be able to cover the local need and even shift towards exports.”   https://www.mawazin.net/Details.aspx?jimare=135217

Iraq Decides To Close The Land Borders And Restaurants And Ban Flights With Several Countries

Council of Ministers headed by Mustafa Al-Kazemi   Money  and business  Economy News – Baghdad  The cabinet decided to close land borders, ban flights with 8 countries, and adhere to social distancing measures.

In a Cabinet statement, these decisions stated:

1- Urging citizens to wear masks and apply social distancing and other prevention measures.

2- Preventing travel to each of the following countries (Britain, South Africa, Australia, Denmark, Netherlands, Belgium, Iran, Japan, and any other country determined by the Ministry of Health in the future), as well as preventing entry to immigrants from them (except for Iraqis and obligating them to be quarantined for a period of 14 days.

In places designated for this purpose, they are not allowed to mix with others until it is proven that they do not have the disease by examining them with PCR and for a period of two weeks, and until the global and regional health situation is clear for the spread of this strain.

3- The Ministry of Finance secures the first payment of (3001050) dollars, for the purpose of paying it in advance to Pfizer, as well as securing the remaining amount of the total cost of the vaccine, which is $ 15005250.

4- Emphasis on the Ministry of Education and governors in all governorates not to give any exceptions regarding school days, especially private schools, in contravention of the decisions of the Supreme Committee for National Health and Safety in this regard.

5- Emphasizing on the Ministry of Education to instruct the education directorates in all governorates to cooperate with the school health divisions in the health departments, to examine students and cadres within educational institutions, and to follow up the measures that must be taken in schools to limit the spread of the disease, as well as to emphasize all ministries and state departments to adhere to preventive measures, To limit the transmission of the disease and prevent any employee or references from entering state departments without wearing a muzzle.

6- Close social facilities (restaurants, malls, etc.) for a period of two weeks, starting from 12/24/2020.

7- Close all land border crossings, except for emergency cases.

Number of observations 73 Date of addendum 12/22/2020   https://economy-news.net/content.php?id=23267

Issue No. (4608) Of The Iraqi Newspaper Al-Waqi’a Issued On 21/12/2020

2020-12-22 01:08:00

1- Law No. (11) of 2020 (( First Amendment to Law No. (37) of 2000 ) Police College ) .

2- Air Force College Law No. (12) of 2020.

3- Law (( foundations equivalent to Arab and foreign degrees and degrees )) No. (20) for the year 2020.

Those wishing to acquire the Iraqi factsheet can refer to the Iraqi investigation department located in Salhiya / Haifa Street (Ministry of Justice building), and obtain the required number.    https://www.moj.gov.iq/view.5265

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