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Tishwash: Deputy: The 2021 budget includes Kurdistan’s dues for six years

Member of the Al-Fateh Alliance, MP Hamid Al-Mousawi, said today, Tuesday, that “the 2021 budget included Kurdistan’s dues for six years, stressing in return that the region has not delivered any of its revenues to the state treasury.

Al-Mousawi said in a statement to (Al-Mustaqilla) that “the draft budget of 2021 calculated the dues of the Kurdistan region for previous years (2014-2020), at a time when it did not deliver any oil and non-oil revenues to the state treasury.”

He added, “Article (11), Clause Second, stipulates that the Kurdistan region should deliver (250) thousand barrels of crude oil per day to the SOMO company, and it is more correct for the text to deliver the Kurdistan region of its entire production of crude oil to the federal authority, as is the case with the rest of the Iraqi provinces.”

He pointed out that “the current expenditures for the year 2021 amounted to (120) trillion dinars, while it did not exceed in previous years to (44) trillion dinars.”  link

CutebwoyParliamentary Finance officially receives the budget and announces the date of the parliament session

{Baghdad: Al Furat News} The Parliamentary Finance Committee announced today, Wednesday, that it has formally received the draft federal budget bill for 2021.

Committee member Jamal Cougar said in a press statement, “The committee has officially received a copy of the draft federal budget law for the current year 2021, from the Presidency of the House of Representatives.”

He added that “the House of Representatives will hold a session next Saturday to conduct the first reading of the budget bill,” indicating that “the committee will make its observations on the draft budget law after the first reading.”

Cougar stressed, “The House of Representatives will not hold a session tomorrow, Thursday, to hold the first reading of the federal budget bill.”

And the media had reported news that the House of Representatives would hold a session tomorrow, Thursday, to hold the first reading of the federal budget bill for the current year 2021.

It is noteworthy that the Speaker of Parliament, Muhammad al-Halbousi, announced on the 29th of last month the arrival of the government’s 2021 fiscal budget bill and the extension of the current legislative term for one month, in order to complete many important legislations for the coming period, including the budget.

His deputy, Bashir Al-Haddad, affirmed that “the legislative procedures to complete the federal budget law may take 20-30 days, and that the parliament will begin the first reading of the bill in early January.”

“There will be serious and intense discussions towards reducing unnecessary expenditures in the budget law, and reducing the deficit ratio for the benefit of the middle classes, the poor and those with low incomes,” he add

Parliamentary Finance officially receives the budget and announces the date of the parliament session

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Tishwash:  Brent crude above $ 54 for the first time since February 26

The value of the Brent oil futures contract for the month of March of this year on the stock exchange reached 54.02 dollars a barrel, according to the data of the selling platforms at 05:27 Moscow time.
Meanwhile, the price of West Texas Intermediate (WTI) rose 0.5% to $ 50.26 a barrel.

As of 05:38 Moscow time, Brent was trading at $ 53.96 per barrel (+ 0.67%), and WTI was trading at $ 50.23 per barrel (+ 0.44%)   link

Harambe:  CNBC: Oil hits 11-month high after Saudi Arabia pledges voluntary output cut … Brent Crude to $53.83 https://www.cnbc.com/2021/01/06/oil-markets-saudi-arabia-output-cut.html