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Iraqi News Tuesday PM 1-12-21

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Al Sudani: Measures To Address The Budget Imbalance

Tuesday 12 January 2021  34   Baghdad: The mainstay of the emirate

The process of reforming the public finance sector includes a set of measures and measures necessary to address deficiencies and deficiencies in the two sides of the public budget, on the revenue side and on the expenditure side, as the state works to improve public spending, optimize the use of its resources and reduce public spending without harming the poor classes. We agree to any payroll deductions for employees and retirees, excluding senior employees.

Insufficiency of the budget

MP Muhammad Shiaa al-Sudani told Al-Sabah: “There are a number of measures to address the deficiencies and deficiencies in the general budget for 2021. This budget is very large and is the largest in the history of budgets and needs to start with looking at the public expenditures that are greatly exaggerated, as well as the required and necessary solutions to create economic development.

And increase the effectiveness of the private sector in a way that secures the generation of job opportunities that the government may not be able to do in light of the high percentage of the fiscal deficit in the general budget and the lack of room for government appointments.

Poor groups

He continued, “The budget must take into account the activation of the sectors that drive the economy. Otherwise, going to easy options in the face of the budget deficit is not an ideal solution to the reality of the national economy, and there must be a careful review of operational expenditures, especially with regard to the operational budget.”

Al-Sudani added, “As for the issue of providing protection for the poor and vulnerable groups in society, we will present in the discussion of the 2021 budget proposals to address the situation of the poor, whether in terms of increasing the amount of financial aid for these groups through the social protection network or improving the number and quality of the ration card items, as well as looking and addressing the limit.” The lowest salaries for junior employees, these measures are necessary and required in light of inflation as a result of changing the dollar exchange rate.

No deductions

Al-Sudani stated that “deductions or taxes on the salaries of employees and retirees, I think are inconsistent with the tax law and the retirement law, and this needs legal review, but in general we will not agree to any deductions from the salaries of employees and retirees with the exception of senior employees from a general manager and above, because it cannot be There will be deductions from salaries in the presence of a change or the government’s adherence to changing the exchange rate that has caused the reduction of the value of the salaries of employees and retirees by 20 percent. This issue cannot be accepted because it affects the standard of living of the citizen, who finds in the salary of the job or the retirement the only source of Iraqi family income “.   LINK

The Ministry Of Finance Issues A Statement On The Increase In 2021 Budget Expenditures

Time: 01/2021/12 15:20:33 Read: 4,563 times    {Baghdad: Al Furat News} Today, Tuesday, the Ministry of Finance issued a statement on the increase in expenditures included in the draft federal budget law for 2021.

The ministry said in the statement that the Euphrates News Agency obtained a copy of it, that “preparing the budget for 2021 was based on the foundations and general principles that reflect the necessary priorities for the current stage.”

He added, “We have worked to reduce obstacles to financial threats and to provide the necessary liquidity to secure the state’s needs in terms of securing salaries and completing projects.”

And that “the 2021 budget included an increase in allocations amounting to (62.5) trillion dinars, excluding foreign and domestic loans compared to what was financed in 2020.”

The finance pointed out that “the increase was concentrated in the area of spending on salaries, allowances and retirement contributions.”

It is noteworthy that the House of Representatives initiated the second reading of the draft fiscal budget law for 2021 amid criticism, describing it as “explosive” in expenditures and a contrast to the financial crisis in the country. LINK

Parliamentary Finance Invites The Accountants Syndicate To Prepare A Study On The 2021 Budget Law

Time: 01/12/2021 16:41:26 Read: 156 times    {Baghdad: Al Furat News} The Finance Committee headed by Haitham Al-Jubouri, the head of the committee and the presence of the members, hosted, Tuesday, the head of the Accountants and Auditors Association, Jawad Al-Shehili and his accompanying delegation, to put the final touches on the third amendment bill to the Law of Accountants and Auditors Syndicate before voting on it in the upcoming sessions of the House of Representatives.

The committee stated in a statement that Al Furat News received a copy of it, that “at the beginning of the meeting which was held in the guesthouse, the head of the committee invited the Accountants Syndicate with its expertise and competencies to present its views and prepare a study on the draft federal budget law for 2021 that the committee considers during its discussions To the law. ”

The Head of Accountants and Auditors welcomed the proposal of the Finance Committee, directing “to form a team headed by Salah Nouri, the former head of the Financial Supervision Bureau, to present some proposals regarding the draft budget law.”

The committee continued, “The meeting also touched on the third amendment to the proposed law of the Accountants and Auditors Syndicate to be voted on in the upcoming sessions of the House of Representatives, where a sub-committee was formed to put the final touches on the law, and to discuss the possibility of establishing an accredited internal auditors institute for the purpose of developing the performance of auditors in the country.”  LINK

Within A Series Of His Meetings To Activate The Private Sector .. Al Kaabi Calls On The Ministry Of Oil To Reconsider Its Decisions Related To The Private Sector And Stresses The Development Of An Effective Strategy To Protect Investors

01/12/2021   Hassan Karim Al-Kaabi, First Deputy Speaker of Parliament, stressed the need to give the private sector utmost importance in terms of the necessary support and care, stressing that the House of Representatives has put in place many legislations that would facilitate the investment process, develop the private sector and advance the current economic reality, calling on the Ministry of Oil to wait And to reconsider its decisions related to strengthening the private sector, especially with regard to the high price of black oil, and to work according to the laws in force that facilitate the process of industrial development in the country.

This came during the House of Representatives hosting today, Tuesday, January 12, 2021, the heads of the economic, technical and distribution departments in the Ministry of Oil, the Director General of the Industrial Development Department at the Ministry of Industry and Minerals, and representatives of the owners of asphalt plants and the production of dyes, and in the presence of the heads and members of the economic and investment committees, and oil and energy Parliamentary natural wealth and a number of other gentlemen of representatives, to find out the reasons for the high prices of black oil in the factories and factories available in Iraq, and to discuss ways to develop the private and industrial sector and to lay down the required treatments for all existing problems.

Al-Kaabi stressed the need for the government to put in place an effective strategy to encourage and protect investors, and to strengthen the role of the private sector as a fundamental and true partner in building the Iraqi state, stressing the necessity of establishing government controls and procedures necessary to follow up and monitor factories and limit smuggling of products in cooperation with the security services. The Media Office  of the First Deputy Speaker of Parliament   1/12/2021   LINK

The Financial Committee Hosts The Head Of The Accountants And Auditors Association

01/12/2021   On Tuesday 12/1/2021, the Finance Committee chaired by Deputy Dr. Haitham Al-Jubouri, the head of the committee, hosted the head of the Accountants and Auditors Syndicate, Jawad Al-Shehili and his accompanying delegation, to put the final touches on the third amendment law proposal to the Law of Accountants and Auditors Syndicate before voting on it in Parliament sessions Coming.

At the outset of the meeting that was held in the guesthouse, the head of the Finance Committee invited the Association of Accountants, with its expertise and competencies, to present its views and prepare a study on the draft Federal Budget Law for 2021, which the committee would seek during its discussions of the law.

The Head of Accountants and Auditors welcomed the proposal of the Finance Committee, and directed the formation of a team headed by Salah Nouri, former head of the Financial Supervision Bureau, to present some proposals to the Finance Committee regarding the draft budget law.

Then the meeting touched on the third amendment to the proposed law of the Accountants and Auditors Syndicate to be voted on in the upcoming sessions of the House of Representatives, where the Finance Committee formed a sub-committee to put the final touches on the law, and discussed the possibility of establishing an accredited internal auditors institute for the purpose of developing the performance of auditors in the country. Media   Department Parliament   January 12, 2021  LINK

Parliamentary Finance Inquires From The Government About Iraq’s Debts And Intends To Host 3 Officials

Pratha News Agency153 2021-01-11   The Parliamentary Finance Committee submitted an inquiry to the government about the size of the external and internal debt of Iraq, while it directed to host 3 government officials

The Media Department of the House of Representatives said in a statement that “The Finance Committee held a meeting headed by MP Haitham Al-Jubouri, Chairman of the Committee, and the attendance of members at a meeting in which it continued to discuss the draft Federal Budget Law for 2021, and also directed to host the President of the Fund for Reconstruction of Areas Affected by Terrorist Operations, Muhammad Al-Ani.

The committee chairman directed, “the formation of sub-committees from the Finance Committee for the purpose of studying independent budgets, namely the Supreme Judicial Council, Parliament and the High Commission for Human Rights, as well as preparing a comprehensive study on these budgets that takes into account the pressure of unnecessary expenditures.”

She explained, “The Finance Committee continued to discuss the articles and items contained in the draft budget law, as it sent a letter to the Ministry of Finance to determine the total internal and external debt until 12/31/2020, and to indicate all the sums disbursed in 2020 from donations and grants granted by either countries, institutions or From the organizations, as well as the details of the amounts disbursed from the petrodollars to indicate the arrival of these sums to their beneficiaries.

The Finance Committee also directed to host the Director General of the National Oil Company (SOMO) and the official in the licensing rounds and the Director General of Investments at the Ministry of Oil regarding licensing rounds, discussing oil revenues and the price of a barrel of oil approved by the government in the budget compared to current oil prices, and taking into account the fluctuation of those prices. While the Corona pandemic continues. ”

The committee discussed “the financial allocations for the governorates and stressed the need for fairness to the governorates that were not previously taken into account for the purpose of completing lagging projects and providing services and infrastructure in them, with the committee directly monitoring the distribution of those financial ratios to the governorates and ensuring justice in this regard.”    http://burathanews.com/arabic/news/384301

Requiring Banks To Lend To Small Projects

Tuesday 12 January 2021  32   Baghdad: Morning   The specialist in economic affairs, Ahmed Maklef, urged “the necessity to oblige private and governmental banks to allocate amounts of liquidity of not less than 50 percent as soft loans to be provided in order to build industry and agriculture, encourage the establishment of factories and factories and choose one of the successful international options for its application in Iraq and the advancement of the sector.”

Economic. ”

He pointed out, “The possibility of moving towards providing loans in the amount of 3 – 5 million annually to graduates of all kinds to establish small and medium enterprises, each according to his specialization.”

He stressed, “the need to find a mechanism to support the unemployed of all ages and with acceptable monthly salaries until they obtain a job opportunity, disbursement from social welfare, or establish a body for the unemployed to communicate with this group and work to secure their rights.”    LINK

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