Tuesday AM Iraq Economic News Highlights 9-6-22
Parliamentary Finance: The Absence Of The Budget Is Very Influential And Accumulates Major Mistakes On The State’s Finances
Economie 12:18 – 09-06-2022 The Parliamentary Finance Committee resolved the controversy over the absence of a budget law for the next year, while warning of the accumulation of major mistakes.
Committee member Sajjad Salem said that in the event that a financial budget law is not issued for the next year, it is possible to spend according to the financial management law with a system of one on twelve of the two thousand and twenty-one budget in the year two thousand and twenty-three, as happened in the current year.
He added, that the budget is not just spending, but rather an economic, social and political behavior of the state, and its absence is very influential and accumulates major mistakes on the state’s finances.
The member of Parliamentary Finance indicated that the financial surplus is preferred to be invested in a productive way that enhances income, such as factories and factories, and this will be better than spending in an unproductive consumer way, noting that there is a need for a comprehensive and clear economic policy for the state with full features and a political will that supports this economic policy.
https://kirkuktv.net/AR/Details/8701
Parliamentary Finance Stresses The Need To Legislate The Budget Law For The Current Year
Economie 16:46 – 09-05-2022 Today, Monday, a member of the Parliamentary Finance Committee, Jamal Cougar, stressed the need to legislate the financial budget law in order to invest the money in all parts of the state, including service projects.
Cougar said in a press statement, “If the budget law for the current year is not enacted or financial laws similar to the food security law, this means that about twenty million citizens in the Iraqi state will be deprived of financial support because the operating budget will only go to employees and salary earners and part of the country management movement.
Cougar added, “All the remaining segments will be deprived, and there will be no job opportunities, investment projects or strategic projects, in addition to the absence of new infrastructure, and there will be no maintenance and perpetuation of the existing.”
Cougar stressed that “the Food Security Act has been set with conditions that cannot be repeated for the next year.”
He continued, “The funds within the Food Security Law are 25 trillion, 7.5 of which the current government may not dispose of and does not have the authority to spend it at all because there is a restriction in one of the articles of the Food Security Law that states that the new government that will be formed will spend it with these funds.”
Cougar pointed out that “the Food Security Law is a law among the financial laws that were enacted in 2022, and it is not a budget law so that it can be repeated a second time or repeated disbursement during the year 2023.” https://kirkuktv.net/AR/Details/8683
A New Statement From Parliamentary Finance Regarding The Budget
Political | 12:41 – 06/09/2022 Baghdad – Mawazine News, a member of the Parliamentary Finance Committee, Sajjad Salem, said, on Tuesday, that in the event that a financial budget law is not issued for the next year, it is possible that the disbursement will take place in accordance with the Financial Management Law 12/1 of the 2021 budget in 2023, as happened this year.
Salem added, “The budget is not just spending, but rather an economic, social and political behavior of the state, and its absence is very influential and accumulates major mistakes on the state’s finances,” according to the official news agency.
He continued, “The financial surplus is preferable to invest it in a productive way that enhances income, such as factories and factories, and this will be better than spending in an unproductive consumer way,” noting that “we need a comprehensive and clear economic policy for the state with full features and a political will that supports this economic policy.” https://www.mawazin.net/Details.aspx?jimare=204662
Iraq Maintains Its 30th Rank In The List Of Major Gold Hoarders
Market Economy News _ Baghdad Today, Tuesday, the World Gold Council announced that Iraq has maintained its 30th rank globally among the largest countries in possession of gold reserves.
In its latest schedule for the month of September 2022, which was seen by Al-Iqtisad News, the council said that “the global central banks added 37 net tons to global gold reserves,” noting that “the bulk of the rise resulted from purchases from Qatar (15 tons),” While the regular buyers of India were (13) tons, Turkey bought (12) tons, and Uzbekistan bought (9) tons.
He added that “Kazakhstan was the only prominent seller in this month, as it sold (11) tons of gold.”
He pointed out that “Iraq maintained its global position after it rose 10 ranks last month after purchasing 34 tons of gold to rank 30 out of 100 countries listed in the table with the largest gold reserves, reaching 130.4 tons of gold, which represents 9.5% of the rest of its other reserves. ”
He explained that “Iraq has become the fourth largest Arab gold reserve after Saudi Arabia, Lebanon and Algeria, after it was sixth, surpassing Egypt and Libya, which ranked fifth and sixth, respectively.”
globally; The United States of America still leads the rest of the countries with the largest gold possession in the world, with 8.133 tons, followed by Germany, 3.355 tons, and then Italy, 2,451 tons.
The Republic of Cuba ranked 100, with one ton, preceded by the Islamic Republic of Mauritania, with one ton.
On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.
It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.
1 . views Added 09/06/2022 – 1:27 PM Update 09/06/2022 – 1:27 PM
https://economy-news.net/content.php?id=29588
Integrity: Agriculture Does Not Control The Products Entering The Territory
Money and business Economy News _ Baghdad Today, Tuesday, the Federal Integrity Commission called for the activation of the local product protection law (eggs, chicken and fish), and the establishment of tight import controls; In order to secure the protection of the product, taking into account the protection of the consumer.
The Authority’s Protection Department confirmed, in a statement received by “Al-Iqtisad News”, that it “prepared a report on the visits of its field team to the Ministry of Agriculture – the Department of Planning and Follow-up, in which it stressed the importance of the ministry reactivating the work of the single window system when opening the door for importation on a specific product, to prevent any occurrence of any accidents.”
A case of corruption, pointing to the need to publish the materials to be imported according to the “agricultural calendar” before the season of scarcity, to ensure equal opportunities among importers, pointing out the importance of avoiding issuing sudden decisions to open and close import and export without specifying the quantity, which leads to flooding the market with products, and endangering the market. National Producer of Losses.
The report, a copy of which was sent to the Office of the Prime Minister and the Minister of Agriculture and the Committees (Integrity, Agriculture and Economic Affairs) in the House of Representatives, recommended “paying the dues of the owners of the affected projects, as a result of infection with epidemic diseases if destroyed in accordance with Article (38) of the Animal Health Law No. 32 of the year 2013) through the establishment of a special fund to support these cases,
and the involvement of national insurance companies in this sector, as well as increasing the support provided to farmers by providing fertilizers, seeds, pesticides, modern irrigation systems and agricultural machinery, granting loans to raise the level of production and activating a program to develop the poultry sector similar to what was In force for the period from 1998-2004 to achieve self-sufficiency in chicken and eggs.
The report suggested “coordinating work between the ministries of agriculture and water resources to develop solutions to overcome the difficulties of fish production reaching levels that guarantee self-sufficiency, addressing the issue of license renewal fees imposed on fish farmers, ending the file of compensation for dead fish, and developing solutions to resolve the issue of collecting renewal fee amounts.”
The accumulated leave owed by the owners of the fish lakes, and the failure to claim them has encouraged many fish farmers to exceed, and some of them were subjected to extortion and demand for bribes, to ensure that they are not harassed while they work illegally.
With regard to irrigation, the report monitored “the lack of and slow dissemination of modern irrigation technologies in all regions, especially those that suffer from high salinity and water scarcity (in the central and southern regions), calling for the distribution of modern irrigation systems fairly between the governorates and according to the needs, Considering its cost, in addition to intensifying agricultural extension activities to educate farmers about its use, and setting plans to establish and maintain wastewater recycling and purification plants and make them suitable for agricultural use.
The report noted, according to the Integrity Statement, “The Ministry of Agriculture does not control the products entering through the Kurdistan region, despite the formation of a committee to calculate the production capacity of the region’s poultry plants and farms, which concluded that the amount of materials entering through the region exceeds the production capacity of its facilities, and this is an indication of the existence of corruption
The process of introducing imported materials as a national product, as well as the delay in releasing the quantities of feed imported from the Kurdistan region, which takes place without the validation process of the laboratory examination certificate by the Ministries of Agriculture and Water Resources in the region, as a result of the laboratory examination conducted by the Department of Livestock in Baghdad exclusively. “.
The report pointed out that “the absence of accurate statistics for livestock and poultry projects, the lack of registration of small projects, and the lack of projects for large cows milk stations, as a result of the lack of guarantees of coordination with the supporting authorities to transform the stations into productive and economically viable and accurate data on the numbers of agricultural machinery and equipment,
in addition to the fact that the Ministry of The water resources are draining and cleaning rivers during the breeding season of fish, which leads to the raising of their eggs and their non-reproduction, bearing in mind that the draining process takes place in the last quarter of the year.
17 . views Added 09/06/2022 – 10:39 AM Update 09/06/2022 – 1:15 PM
https://economy-news.net/content.php?id=29584
Electricity Announces The Conclusion Of Two Contracts To Rehabilitate Two Stations In Mosul
Energy Economy News _ Baghdad Today, Tuesday, the Ministry of Electricity announced the conclusion of two contracts to rehabilitate two stations in the city of Mosul.
The ministry said in a statement received by “Al-Iqtisad News”, “The Electrical Systems Rehabilitation Company has concluded two contracts with North Production, to rehabilitate and supply turbine materials in two stations in the city of Mosul.”
She added, “The value of the two contracts amounted to one billion and 471 million dinars.”
Views 12 Added 09/06/2022 – 12:14 PM Update 09/06/2022 – 1:18 PM
https://economy-news.net/content.php?id=29586
Despite The Citizen’s Need For It, The Delay In Passing The Budget.. Video
2022-09-06 | 07:03 Source: Sumerian 153 views Significant negative repercussions caused by the lack of approval of the current year’s budget, as the year is approaching its end, and the budget law has not been drafted despite the citizen’s need for it to push the matter with observers to raise questions about the government’s ability to continue spending in the year two twenty-three.
According to observers, the parliament did not meet the needs of the Iraqi street after months of delay and the holding of a few sessions that did not provide anything but delayed the enactment of important laws.
One of the main reasons that led to the delay in voting on the budget is the continuation of the caretaker government .. which cannot play the role of the permanent government by proposing projects by passing important and necessary laws. LINK
Parliamentary Finance Resolves The Controversy Over Next Year’s Expenditures With No Budget
Money and business Economy News _ Baghdad Today, Tuesday, the Parliamentary Finance Committee resolved the controversy over the absence of a budget law for the next year, while warning of the accumulation of major mistakes.
Committee member Sajjad Salem said, in an interview with the Iraqi News Agency, and followed by “Economy News”, that “in the event that a financial budget law is not issued for the next year, it is possible that the disbursement will take place in accordance with the Financial Management Law 12/1 of the 2021 budget in 2023, as happened of the current year.”
He added that “the budget is not just spending, but rather an economic, social and political behavior of the state, and its absence is very influential and accumulates major mistakes on the state’s finances.”
Salem pointed out that “the financial surplus is preferred to be invested in a productive way that enhances income, such as factories and factories, and this will be better than spending in an unproductive consumer way,” noting that “we need a comprehensive and clear economic policy for the state with full features and a political will that supports this economic policy.”
The technical advisor to the Prime Minister, Haitham al-Jubouri, announced, earlier, that salaries would not be affected by the existence of the budget or not, while he explained the possibility of passing a law granting the current government to dispose of the financial surplus.
16 . views Added 09/06/2022 – 1:31 PM Update 09/06/2022 – 3:03 PM
https://economy-news.net/content.php?id=29589
