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Tishwash: Today … an evening meeting to decide the fate of the budget

The Finance Committee in the House of Representatives revealed, on Thursday, an evening meeting today to decide the fate of the budget.

The deputy of the committee, Sherwan Mirza, said, “The Presidency of the House of Representatives will hold a meeting this evening, with the heads of parliamentary blocs and members of the Finance Committee to discuss the draft federal budget bill for 2021.”

He added, “This meeting will determine the date for voting on the budget,” adding: “We in the Finance Committee want the budget to be presented in the House of Representatives in an atmosphere far from convulsions.”

Mirza explained, “The issue of the Kurdistan region’s share is not the only file that has not been resolved in the draft budget law. The Shiite blocs have observations, and the Sunni blocs also have observations, so the meeting that will be held this evening will decide the fate of the budget.”   link

Cutebwoy:  A deputy from Al-Fateh reveals: Parliament will hold two sessions today on the court and the budget

Thursday 18 March 2021

The deputy of the Al-Fateh Alliance, Muhammad Al-Baldawi, confirmed, Thursday, that the House of Representatives will hold two sessions this afternoon and evening to complete the paragraphs of the Federal Court bill and the other consultative in the presence of the heads of political blocs on the draft budget law .

Al-Baldawi said, “The parliament will hold a session to vote on completing the Federal Court law at four o’clock this afternoon .”

He added, “The new law will go so as to converge the points of view of all political forces, especially with regard to the voting mechanism for Sharia jurists and experts, provided that the participation of Sharia jurists is to vote for laws related to Islam, and experts participate in voting with regard to other laws .”

Al-Baldawi explained, “The House of Representatives will hold a second session this evening at six o’clock in the afternoon, in the presence of the heads of political blocs and those who wish to attend from the members of the Council to conduct a consultation on the draft budget law and put it to vote next week.”

A deputy from Al-Fateh reveals: Parliament will hold two sessions today on the court and the budget

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Tishwash:  Call to control the management of external sovereign funds

The prime minister’s financial advisor, Dr. Mazher Mohammed Saleh, expressed surprise at the negligence in the follow-up and management of Iraq’s foreign sovereign funds, stressing that it is worth “billions of dollars”, calling on regulators to conduct a comprehensive assessment of those rights and the way Iraq participates in its management, to start the establishment of the Iraqi Sovereign Wealth Fund.

The government calls expressed by the chancellor in the prime ministership, came after a similar call issued by member of parliament, Kazem Adif, in which he demanded that Iraq’s funds and profits should be investigated in more than thirty arab companies that participated in its financing and establishment in the past years, pointing to the growing profits of those producing and successful companies.

Sovereign wealth

“Iraq has sovereign wealth outside the country worth billions of dollars, and the Iraqi Fund for External Development, which is currently attached to the Ministry of Finance, is responsible for managing part of that sovereign wealth, particularly in Arab joint ventures and others, and the other part is still neglected by various sector ministries,” Saleh told Al-Sabah.

Follow-up returns

“The Iraqi Fund for External Development should reconsider the audit of the returns of all foreign funds and property, particularly as it is the central body responsible for managing external sovereign funds, assessing rights and identifying their annual returns,” he said.

“The united nations is ready to take action to prevent the destruction of the palestinian economy,” he said.

Development goals

Dr. Hussein al-Khaqani, an economist and former member of the Board of Directors of the Iraqi Fund for External Development, said the fund’s main objectives are to support development, investment and diversification of sources of income.

Al-Khaqani said that one of the objectives of the Fund is also to contribute to development projects, particularly of an investment nature, as well as to encourage the use of public and private funds directly or indirectly, in a way that ensures the development of economic development processes, as well as the provision of expertise and technical assistance in various areas of economic development.

Fund contributions

“The Fund has committed to provide development loans to Arab and developing countries of about 806 million dollars, withdrawn about 262 million dollars, and the loans were soft at an interest rate of only 5.4 percent, a period of 10 years and a repayment period of up to 20 years with administrative costs of 5.0 percent, which benefited 25 countries and covered 52 development projects,” he said.

“The fund contributed to the capital of 31 Arab joint ventures with a total payment of 626 million dollars, with a contribution of more than 7 percent of the total capital of the companies,” he said.

At the same time, he noted that “the Fund also contributes to the capital of five Arab and international funds with a specialcompetence similar to that of the Fund, with a contribution of more than $810 million, and a contribution of about 4.2 Percent.  link

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Tishwash:  Economist: The corruption of the currency auction is behind the failure to demand a decrease in the dollar exchange rate

The economic expert, Ihssan Al-Kanani, said that corruption in the currency auction made politicians shirk their supervisory duties and throw the ball into the government’s court about controlling the exchange rate of the dollar against the Iraqi dinar .

Al-Kinani said to / the information /, that “most of the private banks are affiliated with political parties and parties that finance their projects in and outside Iraq , and attract money through an auction selling the currency.”

He added that “the silence of the deputies about the demand to reduce the exchange rate of the dollar against the dinar, in order to preserve their earnings in the currency auction, which has become a window for financial corruption and serving the interests of the political class.”

He indicated that “most politicians and MPs have shirked their responsibilities regarding what the government is doing about the siege of the people after reducing the value of the dinar, and they emphasized that the issue of reducing or raising the price of the currency depends on the government only, at a time when Parliament has absolute power over the government to reject or accept any decision it takes.”    link

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