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Tishwash:  ok I wanted to see this yesterday but they put it out this morning  I think they mean business  We shall see!

The agenda of the parliament session today

The Al-Furat News Agency will publish the schedule, etc., of the parliament session on Wednesday.

According to a document issued by the Presidency of the Council of Representatives obtained by {Al Furat News}, the actions are as follows:

First: To vote on the draft federal budget bill for the fiscal year 2021. (Financial Committee). (58 items).

Second: To vote on the application submitted by (172) representatives to dissolve the Council of Representatives.

Third: General discussions (15 minutes).   link

Tishwash:  Deputies began arriving in Parliament to attend the session to vote on the budget

On Wednesday, a number of members of the House of Representatives began arriving at the Parliament building to attend the voting session on the 2021 budget.

The “People” correspondent (March 31, 2021) stated that a number of members of the House of Representatives began arriving at the Parliament building in order to attend the voting session on the 2021 Budget Law.  

And the Parliamentary Finance Committee revealed, on Wednesday, the possibility of approving a budget for a period of three years, while expressing its support for that.  

A member of the Parliamentary Finance Committee, Magda Al-Tamimi, told the official agency, and his follower, People (March 31, 2021), that “the government, according to the Financial Management Law, has the right to present a short-term budget for a period of three years, and the House of Representatives votes on it compulsory for the first year, and the Council of Ministers is also entitled To amend it at the request of the Ministries of Planning and Finance, as it is amended for the second and third years and submitted to the House of Representatives for approval and voting.

Al-Tamimi added that “the Finance Committee supports the presentation of a budget for three years, as the delay that occurs in voting takes three or four months, which affects the overall economic activities and the lives of citizens,” noting that “presenting the budget for three years reduces political disputes.”

On Wednesday, the Parliamentary State of Law bloc set the conditions for attending the voting session on the 2021 General Budget Law, while noting that the final version of the budget has not yet been distributed.

The representative of the bloc, Kata Al-Rikabi, told the official agency, and “people” followed him (March 31, 2021), that “the state of law depends on its attendance to the voting session on the budget law by changing the exchange rate of the dollar and deleting the materials that have nothing to do with the budget, but were presented for the first time,” referring to The influence of the poor and middle classes by changing the exchange rate and the impact it had on the rise in prices in the market with the approaching month of Ramadan.

He added that “the final version of the budget law has not yet been distributed to members of the House of Representatives and has not seen the articles of the law and what paragraphs have been deleted and others have been added,” stressing that “not to see the agreement of Article 11 of the Kurdistan region in addition to the need to include the entitlement of the lecturers with the lifting of the articles that have them.” Related to the leveling of lands. ”     link

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Tishwash:  “Finance” reveals a proposal to change the price of a barrel of oil from the dollar to the dinar

The parliamentary finance committee on Wednesday unveiled a proposal to change the price of a barrel of oil from the dollar to the Iraqi dinar in the 2021 federal budget law.

“There is a proposal to change the price of a barrel of oil in the budget law and it is calculated in Iraqi dinars instead of dollars, as in previous budgets,” committee member Mohammed al-Resin told Shafq News.

“Changing the price of a barrel of oil does not hinder operational and investment expenditures by budgeting law, and that changes the price of a barrel of oil from 45 dollars to 65,000 Iraqi dinars,” he said.

“This proposal is the best in accordance with the constitution to preserve the Iraqi currency,” he said, adding that “the Ministry of Finance has confirmed that there is no technical impediment to changing the price of a barrel of oil from the dollar to the Iraqi dinar.”

The House of Representatives failed to vote on the 2021 federal budget bill in a session sunday that lasted late at night.

The budget allocation is estimated at 130 trillion Iraqi dinars (about 89.6 billion dollars).

Iraq relies on oil sales revenues to finance about 95 percent of the state’s expenditures, and is suffering from a severe financial crisis, as crude prices fall under pressure from the Corona pandemic.

Iraq is under great pressure under the worst economic crisis since 2003 and so far, with low oil prices and the outbreak of the Coronavirus.   link

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Tishwash:  Oil prices rise on expectations that OPEC+ will maintain supplies

Oil prices rose on Wednesday to shrink their evening losses a day before opec and its allies met, as investors bet that producers would largely agree to extend supply restrictions until May.

Brent crude futures rose 24 cents, or 0.37 percent, to $64.41 a barrel at 0525 GMT after falling 1.3 percent on Tuesday.

West Texas Intermediate futures jumped 29 cents, or 0.48 percent, to $60.84 a barrel after falling 1.6 percent in the previous session.

The Organization of Petroleum Exporting Countries (OPEC) and its allies, called OPEC+, are scheduled to meet on Thursday, after a month in which oil prices have fallen due to concerns about prolonged epidemic closures in Europe, slowing vaccine deployments and rising cases of MERS-CoV infections in India and Brazil, against growing optimism about growth in the United States.

OPEC+ surprised the market last month by agreeing to extend supply restrictions, with small exceptions to Russia and Kazakhstan, at a time when fuel demand seemed to be recovering.

Under current restrictions, OPEC and non-OPEC producers led by Russia have reduced just over seven million barrels per day, while Saudi Arabia has made an additional voluntary cut of 1 million barrels per day.

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