KTFA:
Samson: Has the Ministry of Finance determined the price of a barrel of oil in the 2023 budget?
06/11/2022 17:24:25
An informed source revealed today, Sunday, the actual start of the Ministry of Finance to prepare a draft federal budget law for the year 2023.
The source stated {to Al-Furat News} that: “The Ministry of Finance has started the first steps, meetings and preparations for the ministries concerned with preparing the draft budget law.”
The source added, “So far, the price of a barrel of oil that will be approved, or the initial budget figure, has not been determined.”
A member of the Finance Committee, Jamal Cougar, revealed the features of the 2023 budget, stressing that it will approach from 130 to 150 billion dollars, at a fixed exchange rate based on the price of crude between 70 to 75, and that it will be a different investment budget to provide services, meaning that it will be a real budget. LINK
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Parliamentary calls for the government regarding the budget: boost revenues and reduce expenditures
5th November, 2022
A member of the Parliamentary Finance Committee, Nazim Al-Shibli, called on Saturday, the government of Prime Minister Muhammad Shia Al-Sudani to expedite sending the draft budget law for the next year to the House of Representatives.
Al-Shibli said in an interview with “Information”, that “the budget for the year 2023 should be a budget for services in which it enhances revenues and reduces expenses.”
He added that “there is a tendency by the Parliamentary Finance Committee to establish a special fund for each governorate aimed at activating basic services such as health, education, roads and bridges.”
Al-Shibli pointed out that “the budget should include plans to support strategic projects,” noting that “the Financial Management Law stipulates that the budget must be submitted in mid-October.” He takes his mechanism in voting and approving.” LINK
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MilitiaMan: There is clearly a push to get things off the ground now not later. IMO the 2022 budget has to be sorted prior to the 2023. Just as 2003 – 2021 have been. 2022 is no different, except, it has the EFSL that isolated $80 – $150 Billion from the elite poloticians..
Thus, that included the Kurds who are by the away apparently working through that now, as noted by the UN comments and the Kurds themselves.. The HCL is a focus and rightfully so..
The KURDS were not involved with the operational side of the EFSL. The are a part of the investment side..
To the fixed exchange rate based off oil suggests they are further along than some may think. They have numbers to work from now and it allow for the budget to be more as an investment budget. It will be one that enhances revenues and reduces expenses.
They know as well as many do , the private sector is going to alleviate the reliance on just oil. There are many avenues with a market economy to fill the gaps.
The Financial Management Law shows us that the budget must be submitted by mid October… There was work that was on going during the time frame of the care taker government. They didn’t quit work. imo..
Now we have a fully seated government. They can not only amend laws they can pass them as well, new or old. I am looking for the exposure for the finality of the 2022, it is the foundation along with the audited budgets bas to 2003..
The reconciliation of 2022 has what the 2023 needs.. imo If there is data to support that this thinking is wrong please provide the data and links to support. I would like to see it..
Peace to you all this fine Sunday.. ~ MM
KTFA, News
November 6, 2022
