KTFA

  In KTFA 

Don961: AFTER WEEKS OF DELAY, IRAQ’S COUNCIL OF REPRESENTATIVES PASSES BUDGET FOR 2021

SULAIMANI — After weeks of delays caused by disagreements between the political parties, Iraq’s Council of Representatives passed the Federal 2021 Budget Law on Wednesday (March 31) .

The session was scheduled for 1 p.m. but was delayed because of a lack of quorum. Voting began at 4:30 p.m. in the presence of 215 lawmakers out of 325 and concluded at 8:00 p.m.

The legislation set the price of a barrel of oil at $42, well below current Brent prices.

Among the major sticking points was the devaluation of the Iraqi dinar. The legislation set the US dollar peg at 1,450 Iraqi dinars.

After several hours of voting, lawmakers approved Article 11 of the legislation, which governs the Kurdistan Region’s share.

It will receive 9.5 trillion Iraqi dinars ($6.5 billion), which will be disbursed in monthly increments, in return for submitting 250,000 barrels of crude oil per day to Iraq’s oil marketer SOMO for export. The federal government will be able to cut off funds in the event of non-compliance.

A number of Kurdistan Regional Government (KRG) officials, including KRG Deputy Prime Minister Qubad Talabani, were present at the Council of Representatives during the latter stages of the vote on the legislation to observe. Talabani led many of the talks aimed at hammering out the deal between Erbil and Baghdad.

Lawmakers voted against Article 20 of the law, which would have introduced an income tax on the salaries of public sector workers, or Article 38, which deals with investment. Article 41 was tabled for consideration at a later date.

Also on the agenda is the presentation of a request submitted and signed by 172 lawmakers on whether to dissolve parliament early, but the meeting concluded without taking up the measure.

Before to the session, the Shia bloc held a meeting at the house of Hadi al-Amri, the head of the Fateh Alliance, to coordinate. The Finance Committee held a separate meeting to amend some of the provisions in the draft and ready it for the vote.

The parliament’s media office said in a statement on Tuesday that the names of attendees and absences will be published publicly.

(NRT Digital Media)

This story was updated at 8:07 p.m. EBL    LINK

************

DCDriver:  we may see the new rate after the meeting on the 7th with the United States

Godlover:  May very well. I will add, the POI (President of Iraq)  has up to 15 days to sign budget into law. I continue to look for what is revealed in the opening of the budget. What it is opened at, that’s what it will be for the remainder of the year imo. Thank God they finally passed the budget & soon enough we will see where we stand.

************

Don961:  Budget 2021 .. Parliament votes on the exchange rate article, the price of a barrel of oil, and the Kurdistan share 

3,496 Policy 2021/03/31 18:10
Baghdad Today – Baghdad

At the beginning of its session for this day, the Iraqi parliament voted on the first article, which included in its paragraphs the exchange rate and oil barrel in the 2021 budget, as well as Article 11 regarding the share of the Kurdistan region at a later time.

A representative source told (Baghdad Today) that “the first article that was included in the draft budget bill before the vote was a paragraph stipulating the adoption of the exchange rate of 1450 dinars against the dollar and the price of a barrel of oil was set at 45 dollars, which was voted on, which means passing these two prices.”

Meanwhile, the House of Representatives ended voting on the first 11 articles in the federal budget for this year, including the Kurdistan region’s share.

The text of the Kurdistan share article

And a member of the Finance Committee, Majid Al-Tamimi, announced the vote on two important paragraphs of the 2021 Budget Law, which are currently being voted on in the Council.

Al-Tamimi said on her Facebook page, “The council voted on the 11th paragraph, which obliges the Ministry of Finance to provide the necessary financial allocations for the development and reconstruction of Sadr City.”

She added that the council “also voted on Article (2 / First, Paragraph 8) concerning the petrodollar fund for the provinces producing crude oil, refined oil or gas.”

Before that, Member of Parliament, Representative Hassan Khatti, said today, Wednesday, that there is a general agreement between the blocs to pass the budget at today’s meeting.

Khatti said in a televised interview that she followed (Baghdad Today) that “there is a general agreement to pass the budget and to transfer the controversial materials or to keep it without a vote,” noting that “the currently controversial articles are represented by the share of Kurdistan, foreign loans and the exchange rate, and the last has not yet been resolved and the voting paragraph on the exchange rate.” Current postponed. ”

He added that “the disputed points will be reviewed during the session and may be modified and included in the vote, and there are two tracks in the House of Representatives regarding the exchange rate. The first puts the matter in the hands of the government and the second says that Parliament is able to amend and we hope to reach an average exchange rate, and the file will be the subject of discussion in the session.”

The House of Representatives began a short while ago to vote on the draft general budget bill for 2021, The Media Department of the House of Representatives stated that the parliament held a session to vote on the budget in the presence of 215.

Before that, the representative of the Saeron Alliance, Ghayeb Al-Amiri, confirmed that the country’s general budget law has completely recovered and will be voted on during today’s session or tomorrow, Thursday.

Al-Amiri said in a televised statement followed by (Baghdad Today), that “the draft budget that arrived in Parliament was distorted and does not represent the aspirations of the Iraqi people, but the Finance Committee in the House of Representatives made amendments to it until it reached the stage of complete recovery, and it will be voted on during the parliament session for this day.” Or tomorrow, Thursday. ”

He added, “The differences over the budget were related to the region’s share, and when it was resolved, political differences emerged between the Shiite and Sunni parties. They were also resolved, so that another problem appeared, which were differences between the Shiite-Shiite blocs, but all these differences reached a final agreement on it.”    link

Tags: /