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More Iraqi News Saturday PM 1-9-21

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A Parliamentary Session Today For A First Reading Of The 2021 Draft Budget

Money  and business  Economy News – Baghdad

The Iraqi Parliament will devote its parliamentary session today, Saturday, to the first reading of the 2021 budget.

“The parliamentary session will be held at 5:00 pm today, and it will consist of one paragraph, which is the first reading of the 2021 draft budget.”

The Media Department of the House of Representatives also published a document that includes the agenda of the parliament session for today, and it is allocated according to the document for the first reading of the draft general budget law.

In turn, a member of the Finance Committee in the Iraqi Parliament, Sherwan Mirza, said that “until now no political bloc has rejected the 2021 budget bill, but some have comments on it,” noting that “72 hours after the first reading, the parliament can conduct the second reading.” “.

The draft general budget bill for 2021 recently reached the Iraqi Council of Representatives, after a vote on it by the Council of Ministers last week.

The spokesman for the Iraqi Council of Ministers, Hassan Nazim, confirmed earlier that the salaries of employees will not be delayed in the coming months, indicating that the budget was built on a reform vision provided by the Ministry of Finance, and will work to revitalize the private sector.

On December 21, the Iraqi Council of Ministers voted on the 2021 budget bill in an extraordinary session held under the chairmanship of Prime Minister Mustafa Al-Kazemi.

According to the leaked draft of the federal budget law for 2021, it included a deficit of more than 58 trillion dinars, and the estimated revenues from the export of crude oil were calculated on the basis of the price of 42 dollars per barrel, and the rate of exporting 3 million and 250 thousand barrels per day.

Number of observations 154 Date added 01/09/2021   https://economy-news.net/content.php?id=23516

Warning Of A Dangerous Matter … The Financial Committee: The Budget Will Be Delayed For 6 Months If It Is Refused To Pass It

Political| 02:20 – 01/09/2021   BAGHDAD – Mawazine News, a member of the Finance Committee, MP Jamal Cougar, confirmed, on Saturday, that political parties are against passing the budget, warning of the consequences of its rejection.

Cougar said, “The budget needs careful study because the deficit is large and its numbers are large, and it came in a difficult economic circumstance, so it must be subjected to a thorough study,” noting that “all the items in the budget are sensitive and controversial, and there are political parties looking for gaps in it.” And another looking for reforms, and all of this takes space and time for discussion. ”

He continued, “We should stand against the budget formula, and that it be modified,” warning against “refusing to pass it, because it gives room to be delayed at least 6 months, and this is a dangerous matter, because the budget needs to be modified, not delay, and it is in line with the economic reality of the country.” .

He pointed out that “there are political positions present, as some parties stand against passing them,” stressing that “the country’s situation does not bear the disruption of the budget, and that any suspension means delay in paying salaries and that the street will not bear this, and everyone must bear the responsibility for passing them.” Ended 29 / A43    https://www.mawazin.net/Details.aspx?jimare=137282

The Government Revives The Final Accounts For The Years 2013 And 2014

10:15 – 01/09/2021    The information / Baghdad ..The Prime Minister’s Financial Adviser, Mazhar Muhammad Salih, announced, on Saturday, that the current government will revive the final accounts for the years 2013 and 2014.

In a statement reported by Al-Sabah newspaper and seen by the information, Saleh said that “the final accounts for the year 2013 should have been submitted with the year 2014,” indicating that “the 2014 budget was not submitted because of the problems that Iraq experienced during the control of ISIS terrorist gangs on some Provinces ».

He added that “voting on the accounts for the years 2013 and 2014 needs a draft law (the reality of the situation) that covers expenditures, expenditures and savings that fall outside the Financial Management Law.”

He continued, “The previous government discussed the final accounts for the two years mentioned, but no decision was issued in them,” stressing that “in the event of legislation (the reality of the situation), the vote will take place on the accounts of 2014 with an account appendix for 2013.”

Saleh stressed, “the readiness of final accounts until 2019, so if the 2013 and 2014 budgets are approved, the rest of the budgets will progress quickly because each one is based on the other,” explaining that “the current government will revive the final accounts of the previous budgets.”     https://www.almaalomah.com/2021/01/09/514401/

The State Department Comments On The US Sanctions Against Al-Fayyad: The Decision Represented An Unacceptable Surprise

Political| 03:29 – 01/09/2021  Baghdad – Mawazine News, on Saturday, the Ministry of Foreign Affairs commented on the US sanctions against the head of the Popular Mobilization Authority, Faleh Al-Fayyad, while confirming that the decision represented an unacceptable surprise.

In a statement, Mawazine News received a copy, the ministry stated that it “expresses its surprise at the decision issued by the US Treasury against Faleh Al-Fayyad, head of the Popular Mobilization Authority.”

She emphasized that “the decision represented an unacceptable surprise,” noting that it “will carefully follow up with the current and new administration in Washington all decisions issued by the US Treasury Department against Iraqi names and work to address the consequences of this.”    https://www.mawazin.net/Details.aspx?jimare=137296

Al-Rafidain Launches A Single Window Initiative To Finance Investment Projects

Economie| 09:25 – 01/09/2021  BAGHDAD – Mawazine News  Al-Rafidain Bank announced, on Saturday, the launch of the Single Window initiative to finance investment projects in the country with open financial ceilings.

The bank’s media office said in a statement that Mawazine News received a copy of, that “in line with the bank’s policy and plan aimed at supporting the national economy and contributing to activating the private sector, activities and investment opportunities, and under the direction of the Ministry of Finance to support investment, it has been decided to launch the Single Window initiative to promote the investment sector in Iraq”.

He added, “This initiative is based on facilitating and simplifying the procedures of companies and investors and completing the transaction at a record time and speed away from red tape and excessive sagging episodes that require completion for a few days by establishing a unified room of the concerned departments assigned to it the task of investment that aims to finish the investor’s transaction and grant him. The loan is easy and smooth. ” https://www.mawazin.net/Details.aspx?jimare=137239

Parliamentary Finance Decision: All Items In The 2021 Budget Are Subject To Change

Saturday 09 January 2021   98   Baghdad: Morning   Today, Saturday, the House of Representatives will hold a session devoted to completing the first reading of the draft federal budget bill for the current fiscal year 2021, and the reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, confirmed that “all budget articles are subject to change because they conflict with the government program” and the supposed reforms.

Al-Saffar said, in an exclusive interview with Al-Sabah, that “if the session took place today, Saturday, the budget will be read first, and there will be a session on Monday or Tuesday for the second reading, after which the Finance Committee will receive the project, and begin to discuss all of what was mentioned in the draft 2021 budget.” Pointing out that “all the budget items are subject to change, because they are not consistent with the government program, the ministerial curriculum, and the white paper presented by the Ministry of Finance.”

He added that “the first major axis of the five axes in the white paper presented by the government focuses on rationalizing expenditures and increasing revenues, as we noted in this budget that it is one of the largest budgets in Iraq since 2004, and it is an explosive expansion budget, so most of the spending items have become It includes expansion rather than rationalization, and this contradicts the main theme in the white paper. ”

Al-Saffar emphasized that “the budget targets the poor and middle classes and employees with middle or lower salaries, since the decision to change the exchange rate of the dinar against the dollar led to an inflation of 25 percent, and this means a decrease in the real income of employees by this amount, and 25 percent of the income began to erode due to inflation.” And high prices, “noting that” this class is the most affected by this budget, noting that the white paper says that (the government’s direction is to support and encourage the vulnerable and low-income classes). ”

The reporter of the Finance Committee criticized what he described as the legal error in which the government made the issue of taxes, and said: “The government, instead of going to the waste in collecting and collecting revenues, went and made a mistake in including a legal change in the income tax rate in the draft budget that is (Temporary) laws that are valid for a year only, while tax laws are (permanent) laws that are generally applied for the purpose of amending and repealing laws, ”indicating that“ if the government wants to change or amend the tax law, it is supposed to submit a draft (the tax amendment law) or The articles included in the tax law, and not to include a progressive scale with the tax deduction for employees within the budget law, which is a (temporary) law, meaning that the government made changes to a (permanent) law within a (temporary) law.

The other important point that Al-Saffar made in his speech to Al-Sabah is that “the salaries of the retired are trusts with the government that were deducted during their work period, and thus a previous tax was deducted from them, and by imposing the tax on them again, we will be facing a case of double taxation, and this is not permissible.” .

The reporter of the Parliamentary Finance Committee stated, “If the government is about to compensate these classes with social care and the ration card, then this matter will not achieve the goal, because the ration card contains a large part of corruption because the basket does not reach the citizen as well as its quality, and if it aims to increase Social security and social care cannot cover all the poor, so compensation for the damage caused by inflation through social welfare and the ration card is difficult to achieve in reality.

With regard to changing the exchange rate of the dollar, Al-Saffar asserted that “there is interference in the independence of the Central Bank, and Parliament has no right to interfere in changing the exchange rate as it is the bank’s affair, but there is a parliamentary movement to question some ministers, including the Minister of Finance and the Governor of the Central Bank.” His speech that “the budget articles will be discussed in detail, and the Finance Committee will present alternative proposals for each article, and it is not our authority to change those articles, and the House of Representatives is the one who decides to vote on the budget.”

In turn, the legal expert, Ali Al-Tamimi, affirmed that “if the parliament legislates and votes on the budget law with its violations, it will be subject to appeal before the Federal Supreme Court in accordance with the constitutional article 93, as this contravenes Article 30 of the Constitution and Articles 23 and 26 of the Charter of the International Covenant, and approved Article 62 of the Constitution, when the draft budget is received, Parliament must transfer between chapters and chapters, as well as reduce the total amounts, and it may return it to the Council of Ministers when necessary and propose an increase in the total expenditures.

On the extension of the current legislative term to Parliament, Al-Tamimi explained, “Article 57 of the constitution requires that the budget law be enacted even if the legislative term ends,” indicating that “Parliament cannot reduce the exchange rate of the dollar that was set in the budget, but rather it can, ie Parliament, He proposes and returns the budget to the Council of Ministers due to the absolute necessity for that, and as it contravenes Article 30 of the Constitution, which requires the government to provide decent living for the people.

On Friday, the Ministry of Finance issued a statement on supportive measures to increase the positive effects of a rate adjustment Exchange.

The statement stated that “the Ministry of Finance has led extensive discussions in the past weeks after the approval of the budget by the Council of Ministers regarding the follow-up to adjusting the exchange rate with many parties inside and outside the government, and these discussions will culminate next week with a proposed expanded meeting with the main economic actors from the public and private sectors.” “The Ministry of Finance hopes that these measures will coincide with discussions within the House of Representatives on the budget.”   LINK

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