The Ministerial Council of Economy holds an emergency session on the drop in global oil prices

by **claud39** Wed Mar 11, 2020 10:33 am

Wednesday, March 11, 2020

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http://www.mof.gov.iq/pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=800

by **claud39** Wed Mar 11, 2020 3:40 pm

Iraq is considering launching a mechanism to reduce the negative effects of the global oil price drop

March 11, 2020

Parliamentary Finance - Page 2 1024

Direct: Iraq is considering launching a mechanism to reduce the negative effects of the fall in oil prices on world markets on its economy.

Today, Wednesday, the Ministerial Council for Economy in Iraq held an emergency session headed by the Deputy Prime Minister for Economic Affairs and the Minister of Finance and with membership of the Ministers of Planning, Trade, Agriculture, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the governor of the Central Bank and the head of the National Investment Commission, according to a press release.

The Council meeting witnessed a study of the mechanisms to reduce the crisis of low oil prices in global markets on the economic and social situation in Iraq.

It also discussed the adoption of measures to protect the standard of living of citizens and to provide the possibilities available to deal with Corona virus.

The Council affirmed that the Council will continue to hold its sessions in the coming days, with the aim of reaching appropriate solutions to manage the crisis.

It is worth noting that the council hosted Salem Al-Chalabi, Adviser to the Prime Minister, Abdul Karim Hussein, Chairman of the Advisors and Director General of the Oil Marketing Company, Kamal Al-Basri, member of the Higher Committee for Administrative Reform, and Director General of the Public Debt Department at the Ministry of Finance.

It is noteworthy that oil prices witnessed a collapse during the last period, due to the failure to reach a new agreement from the group of "OPEC +" countries, as well as the impact of the spread of the Corona virus on the extent of demand for aviation globally, which cast a shadow on the size of supply in the markets.

By 2:41 pm GMT, the price of Brent crude futures fell 2.2 percent at $ 36.39 a barrel, and the price of NYMEX crude for April delivery fell by 2.3 percent at $ 33.58 a barrel.

And OPEC, in its monthly report released today, reduced its forecast for the growth of global oil demand by 0.92 million barrels per day in 2020, to 0.06 million barrels per day, due to the spread of the new Corona virus .

Nominations

https://www.mubasher.info/news/3606902/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%AF%D8%B1%D8%B3-%D8%AA%D8%AF%D8%B4%D9%8A%D9%86-%D8%A2%D9%84%D9%8A%D8%A9-%D9%84%D8%AA%D9%82%D9%84%D9%8A%D9%84-%D8%A7%D9%84%D8%A2%D8%AB%D8%A7%D8%B1-%D8%A7%D9%84%D8%B3%D9%84%D8%A8%D9%8A%D8%A9-%D9%84%D8%A7%D9%86%D8%AE%D9%81%D8%A7%D8%B6-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A7-/

by **claud39** Thu Mar 12, 2020 3:58 pm

[size=32]Statement of the Economic and Investment Committee on low oil prices[/size]

03/12/2020

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The Parliamentary Economy and Investment Committee is following with great concern the low price of selling crude oil in world markets and calling on the government to take the necessary precautions to face the global economic crisis that is looming and its negative impact on the Iraqi economy in light of the financial deficit and debts burdened with the state’s general budget.

The committee requests the government to take a set of procedures and decisions through which it can manage the financial crisis, as follows: -

1 - Stopping investment spending and reducing operational spending in all aspects of government activity immediately.

2- Agreement with the creditors to postpone the payment of Iraq's external and internal debts until the financial situation improves.

3- Obtaining state debts on mobile phone companies and telecommunications companies.

4- Stopping the payment of amounts to the investors of the electricity sector.

5- Working to enhance government imports and supply the treasury with the region's exports of crude oil and border entry points.

6- Reviewing the exchange rates from the Central Bank of Iraq to ensure prices that do not affect the citizen and at the same time secure the salaries of state employees.

7- Forming a supreme committee to impose the management of Iraqi treasury funds and to follow up the ministries, corporations and institutions that are reluctant to pay the money obligated to collect them in the public treasury.

8- Any other measures that the government deems necessary to preserve the hard currency and prevent its waste.

The Media Department,
Parliament
3/12/2020

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by **claud39** Fri Mar 13, 2020 9:11 am

Parliamentary Finance suggests that the investment funds will not be spent in the 2020 budget after the collapse of oil

13/03/2020

The Economy News - Baghdad

The Parliamentary Finance Committee suggested that it will stop spending money in the investment side of the draft federal budget law for 2020 after the collapse of world oil prices .

Member of the committee, Siham Al-Aqili, said, “The collapse of oil prices and their decrease to $ 30 may push the government and parliament to stop the disbursement of investment funds within the 2020 budget,” pointing out that “stopping the disbursement of funds will come as a result of compensation for the operational component related to employee salaries .”

She added that "the government is in control at the present time to secure the salaries of employees despite the collapse of oil prices," noting that "the decline in oil prices will not last long and the last financial damage will be compensated after its rise in the coming days ."

http://economy-news.net/content.php?id=19288

by **claud39** Sun Mar 15, 2020 9:16 am

Finance Committee: Talking about the size of the budget deficit is premature

03/15/2020

Economy News _ Baghdad

On Sunday, the Parliamentary Finance Committee confirmed that talking about the size of the budget deficit is premature.

Committee member Ahmed Hama Rashid said in a press statement seen by Al-Iqtisad News, "Talking about the size of the budget deficit is premature and misplaced, given that the budget was not legislated, and we are also preparing for the budget of 2021," noting that " The current government is to conduct business and it is not entitled to prepare the budget according to Article 41 of the bylaw, and when forming the government we may reach the month of May of the current year. "

He added, "According to the Financial Management Law, in the middle of May, it is necessary to start preparing for the budget for the next year, and therefore talking about the budget deficit is something that has no place in the actual situation on the ground."

Rashid said, "The government has already started, since the first month of this year, to spend 12/1 of the budget for operating expenses and salaries, and this matter is not related to oil prices or budget deficits, given that we have no loss or profit, because what is spent is related to the numbers in a general budget." 2019 ".

Rashid stressed, "The salaries of employees are safe even if the oil prices drop to less than thirty dollars, and they cannot be affected, because they depend on the ratio of one to 12 of last year's budget."

http://economy-news.net/content.php?id=19297

by **claud39** Sun Mar 15, 2020 9:19 am

Specialists propose an emergency plan to face the financial crisis

15/03/2020

Economy News _ Baghdad

In light of the collapse of oil prices as a result of the outbreak of the Corona virus in several countries of the world that may cause a stifling financial crisis in the country, specialists in the economic and financial affairs proposed an emergency plan that can be adopted to confront the financial crisis expected to occur in the country due to the almost total dependence on oil revenues in the federal budget , Reassuring employees and retirees that their salaries are fully insured.

Member of the Finance Committee, MP Jamal Cougar, said in an interview with the official Al-Sabah newspaper, which was reviewed by Al-Iqtisad News, that "the continued collapse of oil prices may cause a stifling financial crisis in the country because the federal budget is approved and at a rate of 95 percent on oil revenues. This means losing Iraq about one billion and 250 million dollars annually when exporting the rate of 3 million and 800 thousand barrels per day. "

A member of the Finance Committee stressed that "the salaries of employees and retirees are fully insured because there is an emergency plan that the government can resort to in the event of a decrease in financial revenues."

He added that in the event of the continuation of the Corona crisis and the spread of the virus in all countries of the world, its effects may lead to oil export operations and this in turn will affect the rates of Iraqi oil exports, stressing "the need to develop plans to avoid crises that could be stared in the country as a result of the rentier economy and dependence on Oil only. "

Effective solutions

For his part, the former deputy and specialist in financial affairs, Rahim Darraji, affirmed that "the Iraqi state will be in trouble and will solve an economic catastrophe in the country in the absence of effective solutions to the expected financial crisis as a result of low oil prices."

In a statement to Al-Sabah, Al-Daraji said: “The federal government must prepare an emergency plan to face the crisis that includes pressure on unnecessary expenditures in the federal budget, reducing the salaries of the three presidencies and special grades, and reviewing licensing round contracts with oil companies that cost the state about $ 12 billion annually".

He added that "the current stage requires working to combat corruption through checking the number of employees, as there are aliens, according to a report prepared by one of the deputies, and this can provide huge funds for the state."

Darraji warned of "resorting to external borrowing to pay the budget deficit expected to be very large in light of the low oil prices and recent updates that have occurred in the budget as the inclusion of new job grades and others," noting that "Iraq pays annually about 12 billion dollars to some countries and external banks, As these debts have financial benefits that increase annually, which can burden the state financially.

Strategic plans

to that economist Abdul Hussein Al-Qazzaz called for "the necessity of preparing strategic plans to make the Iraqi economy turn from rentier to diversified economy."

Al-Qazzaz said, "Iraq has gone through many economic crises, but it is no longer a viable plan that can save it from the repercussions of these crises by activating the productive economic sectors and diversifying exports."

He added, "This comes through finding a clear economic vision that creates a major economic revolution in various fields, as did other countries such as Malaysia, Singapore and other countries."
In turn, the Parliament's Economic and Investment Committee called on the government to stop investment spending, reduce operating spending, delay payment of Iraq’s debt, and review exchange rates due to low oil prices.

The committee stated in a statement received by "Al-Iqtisad News", that it is following with great concern the low prices of oil sale, which requires the government to take the necessary precautions to face a global economic crisis looming on its impact will be strong in the Iraqi economy in light of the deficit and debts burdened with the state's general budget.

The committee asked the government to take a number of measures and decisions through which it can manage the financial crisis, the most important of which is to stop investment spending and reduce operating spending in all aspects of government activity immediately, and to agree with the creditor parties to postpone the payment of Iraq's external and internal debts until the financial situation improves, and collect the state debt on Mobile phone companies and telecommunications companies, as well as stopping the payment of amounts to investors in the electricity sector, and working to enhance government imports and supply the treasury with the value of the region's exports of crude oil and border outlets.

http://economy-news.net/content.php?id=19295

by **claud39** Mon Mar 16, 2020 9:12 am

Parliamentary finance calls for restructuring the state sectors and postponing the payment of foreign debts

16/03/2020

Economy News _ Baghdad

On Monday, the Parliamentary Finance Committee called on the government to restructure and organize the state sectors in an optimal manner and to postpone the payment of foreign debts.

"The government is required to restructure all its sectors and regulate them to control their expenditures, especially with the sharp decline in oil prices," said committee member Jamal Kouger.

Cougar called for "the necessity of estimating the price of oil in the 2020 budget according to current prices."

http://economy-news.net/content.php?id=19313

by **claud39** Tue Mar 17, 2020 1:56 pm

The Ministerial Council of Economy allocates account 70777 to the Central Bank to receive donations to support efforts to counter the Corona virus

Monday 16 March 2020

Parliamentary Finance - Page 2 Mof878889

The Ministerial Council of Economy, which chaired its meeting today, Monday 16 March 2020, Fouad Hussein, Deputy Prime Minister for Economic Affairs and Minister of Finance and in the presence of the Ministers of Planning, Trade, Industry, Labor, Social Affairs and Agriculture, the Secretary-General of the Council of Ministers, the head of the National Investment Commission is an agency and advisers to the Prime Minister and my deputy, the ministries of Finance and Planning and an advisor Minister of Oil: Opening account number 7777 with the Central Bank of Iraq for the purpose of receiving donations and grants from all government institutions, the private sector and individuals from inside and outside Iraq

To support the efforts of the Iraqi government and the Ministry of Health and its directorates in particular to combat the renewed corona virus, it was agreed to form a committee from the Ministry of Finance, Health, and Planning and representatives of the High Commission for Coordination between the provinces and the Kurdistan Region to develop special mechanisms and supervise the exchange process.

http://www.mof.gov.iq/Pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=803

by **claud39** Wed Mar 18, 2020 2:41 pm

Its ability to $ 132 billion .. Parliamentary finance reveals a proposed study on foreign debt

21:27 03/1820

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Baghdad today - Baghdad Member of the Parliamentary Finance Committee, Jamal Kujer, revealed on Wednesday 3/18/2020 a study of a proposal within the committee regarding foreign debts on the country in light of the low oil prices and the deficit that occurred in the draft of the country's general .federal budget law for the year 2020

Cougar said in an interview singled out (Baghdad today), that "the external debt incurred by Iraq is estimated at 123 billion dollars, including 48 billion dollars in compensation and debts ".from the remnants of Saddam Hussein's regime

He added that "Iraq will pay from the draft budget law for the year 2020, about 15 billion ".dollars, with its benefits as debt to foreign countries

He pointed out that "the government of former Prime Minister Haider al-Abadi was forced to resort to external debts due to the war that was going on in the country against terrorism and low oil prices," stressing that "the state is obliged to pay debts and accumulated compensation from the remnants of the previous regime that are not borne by successive ." governments Beyond 2003

He pointed out that "there is a proposal within the financial committee, regarding addressing the countries from which Iraq borrowed to postpone the payment of debts during this year at the very least, but this proposal remains subject to the extent of the response of those countries considering the current economic crisis is a global crisis everyone suffers from, as a ."result of low oil prices Globalism

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by **claud39** Tue Mar 24, 2020 7:38 pm

Parliamentary Finance reveals details of the deduction from employees salaries

24/03/2020

Parliamentary Finance - Page 2 14257

The Economy News - Baghdad

The Parliamentary Finance Committee revealed, on Tuesday, the details of the recommendation to deduct from the employees salaries, while determining its duration.

"The deductions from the employees' salaries will be for a period of only two months," said the head of the committee, Haitham al-Jubouri, in a statement reported by the official news agency "Waa" and seen by "Al-Iqtisad News".

Al-Jubouri emphasized that "employees of the Ministry of Health and Security Services are excluded from deduction."

http://economy-news.net/content.php?id=19427

by **claud39** Sat Apr 04, 2020 8:33 am

A statement issued by the Office of the Deputy Prime Minister for Economic Affairs and the Minister of Finance

Thursday, April 2, 2020

[size=16]The Ministry of Finance has taken under the direct supervision by Mr. Fuad Hussein , Deputy Prime Minister and Minister of Finance and a set of measures that will contribute to the provision of financial and logistical requirements necessary to stand up , and as far as possible, to the spread of virus and corona combat in Iraq.[/size]

In agreement with the Central Bank of Iraq, the Rafidain and Al-Rashid banks were instructed to open a current account in the Iraqi dinar (deposit and withdrawal) for combating Corona virus for all directorates and departments of the Ministry of Health.

The formation of the computational unit for granting aid was also approved by the Central Bank and both the Rafidain and Rashid banks and the commercial bank and under the supervision of the Ministry of Finance, billions of dinars and millions of dollars were collected for this account in a short record time, and sums were added to it from governmental and private commercial banks and the private sector In support of the efforts of the Ministry of Health departments.

By order of the Ministry of Finance, a disbursement committee has been formed under the supervision of the Diwaniyah Command Committee (55) to combat the spread of Corona virus and these funds that have arrived, covering the work of the Ministry of Health in the field of fighting the virus during the next stage. In another area, pharmaceutical contracts were funded in the amount of 46 billion and 817 million Iraqi dinars until the fifteenth of March in addition to the amount of 332 million dinars as operating expenses for all health departments in Baghdad and the provinces.

In the same efforts, accounts were opened for health directorates in Baghdad and all governorates, and these directorates were funded by the Ministry of Finance, in addition to that the share of the Kimidia pharmaceutical companies was funded..

The constant contacts made by the Deputy Prime Minister and Minister of Finance with the diplomatic corps had a great role in obtaining funds and equipment for the benefit of the campaign. The Minister of Health and the Council of Ministers were informed of this and these grants are used directly by the committee supervising the control of Corona virus.

The Deputy Prime Minister and the Minister of Finance also sent a letter to the Ministry of Health, Chairman of the Diwaniyah Commission 55, to allocate one of the properties of the Ministry of Finance to the State Real Estate Department as an alternative site at the Ministry of Health’s disposal for its use of quarantine..

It is worth noting that the Minister of Health presented in many meetings, whether in the cabinet or in the Supreme Committee, his thanks and appreciation to the Minister of Finance for his efforts in supporting activities to combat HIV.

In turn, the Ministry of Finance highly appreciates the position of the Central Bank of Iraq, the Iraqi Bank for Trade, the Rafidain and Rashid banks, and all private banks and companies from the private sector and citizens at home and abroad who participated and contributed to this solidarity campaign, and expresses many thanks to the workers in accomplishing this national work.

[Thanks are due to the countries that have contributed and continue to contribute to this campaign, whether by sending medical equipment for disease control and prevention or through their financial contributions. .

Official spokesman for the Office of the Deputy Prime Minister for Economic Affairs and the Minister of Finance.

Thursday 4/22/2020

http://www.mof.gov.iq/Pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=807

by **claud39** Mon Apr 06, 2020 7:12 pm

In an indirect response to Al-Zarfi .. Finance: the employees' salaries are fully insured

06/04/2020

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The information / Baghdad ..

The Ministry of Finance confirmed, on Monday, its insurance for the salaries of all employees and retirees for the next month of May, noting that there are other expenses that can be pressured to provide sufficient financial liquidity.

The Ministry's media director, Taha al-Hashemi, said in a statement to "Information", that "there is concern by employees and retirees about their salaries and this is unjustified."

Al-Hashemi added, “The Ministry of Finance fully replaces the salaries of employees and retirees during the month of May and the months that follow,” noting that “employees’ salaries are safe even if oil prices fall below thirty dollars. ”

Earlier, Prime Minister-designate Adnan Al-Zarfi had warned that the government might not be able to secure all salaries, indicating that Iraq was currently in a disaster.

Ended / 25h

https://www.almaalomah.com/2020/04/06/466873/

by **claud39** Thu Apr 09, 2020 7:57 am

The Finance Committee confirms securing the salaries of employees and retirees for the current year

09/04/2020

Parliamentary Finance - Page 2 20000

Economy News _ Baghdad

The Finance Committee of the House of Representatives confirmed the insurance of the salaries of employees and retirees during the current year, at a time when the government is moving towards recycling all possible financial flows to reassure the life of the segment receiving government income with two oil prices in the budget.

"The salaries of employees and retirees for the year 2020 are fully insured," member of the committee Jamal Kujer said in an interview with "Al-Sabah" and viewed by "Al-Iqtisad News," noting that "the government needs, within the limits of 48 trillion dinars, to secure its operating expenses, including There is a slight deficit that will secure from taxes and collection. ”

He added that "the OPEC meeting to be held today will contribute to raising prices," noting that "the decline in oil prices is temporary."

For his part, the appearance of Mohammed Saleh, the financial advisor to the Prime Minister, said that “the public financial duties, in managing this suffocating crisis and its challenges, will be directed towards cycling all possible financial flows to reassure the life of the government-receiving income from the lucrative income in the country.” Retirees and recipients of social welfare, as well as the social bracket of low-income people, from the income of the private sector, whose income has been Al-Qusayrah has been subject to health bans in the country during the past weeks.

He explained that “the national economy will necessitate reassuring living for all, provided that a transparent financial ruler provides indicative high discipline in spending and enjoying government cash income fairly, without escaping, with the necessity to follow real financial governance that is shared with resources that are mutually dependent and resilient. very high government in order to keep him live for all categories touches all segments. In

turn, the head of the adviser The ministers of Abdel-Hussein Al-Hanin said that "the government will deal seriously with the decline in oil prices and there is a tendency to make the budget at two prices for oil, the first is fixed and may not exceed $ 30 per barrel, and in this part of the budget will be met the basic requirements that are not met."

He continued, "As for the moving price, each amount of the barrel will be more than $ 30 in any period of the fiscal year, in which a proportion of other requirements are dealt with depending on the change in oil prices," explaining that "this method relies on programs and projects and represents an advanced condition Great corruption. "

http://economy-news.net/content.php?id=19683

by **claud39** Sat Apr 11, 2020 7:13 am

Parliamentary finance reveals a new salary scale that balances job grades

11/04/2020

Economy News _ Baghdad

The Finance Committee of the House of Representatives, on Saturday, revealed the preparation of a new salary scale that balances the job grades in all ministries.

Adnan al-Zarfi, a committee member, said in an interview with the official Al-Sabah newspaper, which was read to him by Al-Iqtisad News. .

He added, "It also recommended that there be a minimum acceptable for the employee, provided that the rate should not be less than 400-500 thousand dinars, and this policy depends on the government and not on the parliament."

And Al-Zurfy stated that “Parliament demands the achievement of justice in the salaries of employees, which is a task that the government must draw, given that there are ministries with high allocations.”

In 2015, the Council of Ministers approved a decision to amend the salary scale for employees.

Pia indicated to him at the time that the new ladder would achieve an improvement between the minimum and higher levels and reduce differences.

http://economy-news.net/content.php?id=19732

by **claud39** Tue Apr 14, 2020 8:52 am

Strategic expert: The solution to the economic crisis in Iraq is through restructuring the budget

14-04-2020

Parliamentary Finance - Page 2 Image

Baghdad / news

Hussein Allawi, the strategic expert, revealed that restructuring the budget is the best solution to solve the economic crisis in Iraq.

Allawi said in a tweet on "Twitter", "The solution to the crisis of Iraq with its economy, our problem today is in the structure of the state's general budget, it is without changing the method of budgeting from schedules and items to the balance of programs and performance, over a period of 24 months 2020-2022."

He added, "Formulating a public health program, an electricity program, and a program for water and sanitation services, school buildings and technology."

https://www.ikhnews.com/index.php?page=article&id=213476

by **claud39** Fri Apr 17, 2020 4:32 pm

[size=36][rtl]Parliamentary Finance: The 2020 budget will be approved for five months[/rtl][/size]

Thursday 16 April 2020

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[size=16]Baghdad - conscious - Muhammad Talibi[/size]

[size=16]Member of the Finance Committee, MP Mohammed Sahib Al Daraji, confirmed today, Thursday, that the federal budget for 2020 will be approved for only five months.[/size]

[size=16]Al-Daraji said in a statement to the Iraqi News Agency (INA), "The options currently in place under the caretaker government are the payment of salaries and operational matters according to the 1/12 mechanism," noting that "the 2020 budget will be sent to the parliament after the formation of the new government and will be approved for five months ".[/size]

[size=16]He added that "the new government will review the budget before sending it to parliament," noting that "the approval of the budget will need more than a month in Parliament."[/size]

[size=16]And on the government of the Prime Minister-designate Mustafa al-Kazemi, MP Muhammad Sahib al-Darraji commented, “The success of the al-Kazemi government depends on the latter's departure from the interference of political blocs by imposing the names of the ministerial cabinet,” noting that “Al-Kazemi is passed in Parliament if he provides a ministerial cabinet that is free from the interference of political blocs.”[/size]

[size=16]The financial advisor to the Prime Minister, Mazhar Mohamed Saleh, had previously stressed the need to go in the short term to legislate an emergency budget, which provides financial sustainability at this stage and meets the necessary needs.[/size]

[size=16]https://www.ina.iq/105255/%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%86%D9%8A%D8%A7%D8%A8%D9%8A%D8%A9-%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-2020-%D8%B3%D8%AA%D9%82%D8%B1-%D9%84%D8%AE%D9%85%D8%B3%D8%A9-%D8%A3%D8%B4%D9%87%D8%B[/size]

by **claud39** Sat Apr 18, 2020 8:00 am

Parliamentary Finance denies submitting a proposal to deduct a percentage of employee salaries

04/18/2020

The Economy News - Baghdad

On Saturday, the Parliamentary Finance Committee denied submitting a proposal to deduct a percentage of the employees ’salaries.

The head of the Parliamentary Finance Committee, Haitham Al-Jubouri, said in a brief statement seen by Al-Iqtisad News that, "Unfortunately, there are those who publish some false and fabricated news that the Parliamentary Finance Committee will deduct or present a proposal to deduct from the salaries of employees or refused to appoint the segment."

Al-Jubouri stressed: "There is no proposal by the committee or one of the deputies to deduct any portion of the salaries completely."

He added that "the issue of appointments, wages or allocations is a governmental issue and there is absolutely no relationship with the committee."

http://economy-news.net/content.php?id=19849

by **claud39** Sun Apr 19, 2020 10:31 am

Parliamentary Finance announces the existence of a government proposal that includes compulsory savings for employees

19/04/2020

Economy News - Baghdad:

Member of the Parliamentary Finance Committee Jamal Kujer confirmed, on Sunday, one of the proposals to solve the economic crisis in the country is to resort to the compulsory saving of employees, while clarifying the details of this proposal .

Cougar said, "The general situation of Iraq and the region is going through a severe economic crisis, and the Iraqi state is different from three quarters of the world, considering that it faces complex crises, amounting to five crises together, which makes the economic situation very difficult," noting that "the state does not have Many alternative solutions, because maximizing resources is not an easy process in record time, which makes the country in front of limited options, including resorting to bank reserves and borrowing from Iraqi banks .

Cougar added that "the other option is to fight corruption and this is difficult, because it needs a strong government." He pointed out that "the third option is to issue some decisions, among them, for example, to abolish the customs exemption that is applied to some Iraqi ports, or to transfer the management of border ports." To destinations that you can control, as the counter-terrorism apparatus . "

He continued, "One of the methods that were discussed but did not become a decision is to resort to compulsory savings, but the point of disagreement in this option is who will be covered by saving," noting that "we in the Parliamentary Finance Committee are not with savings for all salary scales, but for limited groups according to the majority of members We set a financial ceiling for those who are included in the savings, for example, for those whose salary amounts to two or two and a half and a half dinars per month, either from their salary of 500 or more or less and has many family obligations and rental fees, it is not possible to apply compulsory savings to them because he will either be neglected in his job or resort to To corruption . "

http://economy-news.net/content.php?id=19857

by **claud39** Sun Apr 19, 2020 10:36 am

Parliamentary finance admits that it is difficult to secure employee salaries

04/19/2020

Parliamentary Finance - Page 2 11982

Economy News - Baghdad:

The Iraqi authorities agreed to consider the crises surrounding the country as a state of emergency that requires the use of all means to cross it with minimal losses, in the hope that conditions will change in the coming year .

The Parliamentary Finance Committee approved the force majeure case and suggested that the government financial system use the central bank reserves to secure the salaries of state employees and retirees until the end of this year .

She stressed that these exceptional circumstances require the suspension of all allocations and allowances for employees and projects and any additional disbursement budgets for ministries and government institutions .

Iraq is suffering from massive inflation in public sector employees, as governments fled crises over the past 17 years to employment to calm protests and popular discontent in light of the fact that the state is the only source of employment opportunities due to the paralysis of the economy .

Observers say that there are millions of employees, who do not have a job site, and that governments have doubled the numbers of employees in suspended institutions since 2003 .

The Iraqi government pays about 7 million salaries in a country whose population ranges between 36 to 40 million, as there is no official population census, which is the highest percentage of government salaries in the world .

And Iraq currently reaps little revenue from oil exports due to unfair contracts with international oil companies, which give it up to 21 dollars for the production of each barrel .

Sherwan Mirza, a member of the Finance Committee in Parliament, said that "securing the salaries of state employees until the end of this year without loans by the current government or which will be formed, is very difficult" in light of the current oil prices .

He acknowledged that there is no solution but to rely on the central bank reserves to secure salaries until the end of December 2020. He emphasized that this would be "according to regulations determined by the Council of Ministers, including insurance of salaries only, without any additional allocations or projects or the disbursement of any other funds to the ministries ."

Official figures indicate that Iraq’s financial reserves with the Central Bank fell to 63 billion dollars at the end of February, and they are barely sufficient to cover the expected budget deficit during the current year, if oil prices continue to their current levels .

The Charter of Al-Hamidi, a member of the Economic Committee in Parliament, believes that "the government is able to secure the salaries of all employees, including contracts and the daily wages for April and May" in light of the current oil prices .

But she indicated that the government may face a problem in securing the salaries of employees during the month of June if the global oil prices continue to fall and collapse .

She added that the government is looking for alternatives to secure employee salaries and may resort to internal borrowing from government and private banks, in light of the absence of government plans for external borrowing at the present time .

And revealed the Parliamentary Labor and Social Affairs Committee this week about cases of stopping the salaries of contract employees and daily wages in some governorates. And the government demanded payment .

Severe pessimism prevails in official, economic and popular circles due to the almost complete dependence of the economy on oil revenues and the inflation of the salary and operational budget line .

Criticism of the Iraqi government has escalated because of its agreement to reduce more than a million barrels in oil production, according to the agreement concluded recently in the framework of the OPEC + coalition and the participation of other producers .

Critics say Baghdad was supposed to demand an exemption from cuts due to its exceptional and compelling circumstances .

And the credit rating agency Fitch announced Thursday that the Iraq rating was fixed at the "B-negative" level, but it modified the outlook from stable to negative .

The agency said in a report that political risks remain a major constraint on the classification of Iraq, in addition to the economic repercussions of the outbreak of the Corona virus .

Iraq obtained the lowest rank among all the countries ranked by the agency, in the World Bank's Composite Management Index, which reflects the extent of corruption, government inefficiency and weak institutions, along with insecurity and political instability .

Fitch expects that the external finance of Iraq will deteriorate sharply, with the current account deficit rising to 16 percent of GDP in the current year and about 6 percent next year .

The country’s foreign reserves, including gold, were likely to drop to $ 25 billion by the end of 2021, a decrease of more than $ 40 billion over two years .

Fitch stated that the classification of Iraq was affected by the risks associated with the continuing tensions between the United States and Iran, large-scale protests and a decline in government effectiveness .

But she pointed out that the stabilization of the Iraq classification is due to the current high level of international reserves for Iraq, and low debt service obligations and international financial support .

Government, parliament and central bank officials are busy searching for ways to increase non-oil resources to cope with the epidemic, which has caused oil prices to collapse. The caretaker head, Adel Abdel-Mahdi, and Parliament Speaker Mohamed al-Halbousi held a meeting with the central bank governor, ministers, and other officials to find solutions to the stifling crisis .

But analysts rule out any solutions to increasing revenues due to the paralysis of the economy, the repercussions of the epidemic and the rise in popular discontent, which opposes any tax or austerity measures .

The meeting reiterated slogans that emphasize "the necessity of maximizing state resources, reducing dependence on oil, protecting the weakest social classes and achieving societal, food and drug security" without providing details on how to achieve this .

Iraq depends almost entirely on oil export revenues to finance the budget. Its total debt is estimated at 139 billion dollars .

Iraq is the second largest producer in OPEC after Saudi Arabia, and produces about 4.5 million barrels per day, about 3.5 million barrels per day go for export, and has agreed to reduce production by about 1.06 million barrels per day under the global agreement to reduce production .

The Iraqi government announced on Thursday that it had discussed with the International Monetary Fund to stop repayment of the debt owed by the country, amounting to about 10 billion dollars during the current year .

"There is no response at the present time, and there are no claims for payment, " said Alaa Globe Al-Fahad, spokesman for the Information Office in the Council of Ministers .

He added that "the economy of Iraq is unstable because it depends on oil by 95 percent, and that the other five percent cannot be collected now due to the lack of taxes, fees and others ."

He pointed out that "the Iraqi move does not include the International Monetary Fund only, but rather stopping deduction of Kuwait's debts and Arab League dues ."

http://economy-news.net/content.php?id=19862

by **claud39** Mon Apr 20, 2020 10:45 am

Finance is studying proposals to change the salary system

20/04/2020

Economy News _ Baghdad

The General Secretariat of the Council of Ministers revealed, on Monday, that the Ministry of Finance is studying proposals to change the salary system, indicating that this came in accordance with recent economic changes.

The official spokesman for the Government Information and Communication Office at the General Secretariat of the Council, Alaa Glob Al-Fahd, said in an interview with “Al-Sabah” and viewed by “Al-Iqtisad News”, “The Finance Ministry is studying proposals to change the salary system according to recent changes in the economy, the fall in oil prices and the crises that the country is going through. ".

Al-Fahd added, “The Finance Committee is studying with several experts in the Ministry of Finance several proposals and solutions for changing the salary system, and among the options presented informally is the change of salaries by 25% for all employees or resorting to compulsory savings or reducing non-fixed allocations within it. Study options the government will choose the best. "

He indicated that "this matter is left to the new government, where the draft budget law will present proposals and solutions to change the reality of the state of the budget deficit - before the Coruna crisis and the fall in oil prices - where the deficit is estimated at $ 40 billion, and there are external commitments to pay."

http://economy-news.net/content.php?id=19873

by **claud39** Mon Apr 20, 2020 12:41 pm

[size=36]Parliamentary finance proposes solutions that will dispense with external borrowing and clarify the reality of compulsory savings[/size]

19/04/2020

Parliamentary Finance - Page 2 131942020_Doc-P-315862-637019972342974904

Baghdad - Mawazine News.

The Finance Committee announced in the House of Representatives, on Sunday, the existence of internal options away from external borrowing, while revealing the fact that there is a trend to go to save the salaries of employees.

The head of the Finance Committee, Haitham Al-Jubouri, said, according to the official agency, that "there are solutions that can be dispensed with which foreign loans can be dispensed to bypass the stage of low oil prices." At the banks. "

He pointed out that "there are continuous meetings to find out the amount of money and take decision", stressing that "the preference is to go toward internal borrowing, as it is considered government money."

Al-Jubouri stressed the necessity of "not affecting the cash liquidity available to banks, especially since the economic movement in the country depends on it."

The Chairman of the Finance Committee ruled out "putting forward the compulsory savings proposal for employee salaries."

Ended 29 / h

https://www.mawazin.net/Details.aspx?jimare=96099

by **claud39** Mon Apr 20, 2020 12:55 pm

[size=36]Parliamentary Finance: A trend to reduce the interest rate on loans granted to citizens[/size]

20/04/2020

Parliamentary Finance - Page 2 112042020_192552019_022

Baghdad - Mawazine News

, The Parliamentary Finance Committee revealed, on Monday, that there is a trend to reduce the interest rate on loans granted to citizens.

Member of the Committee, Deputy Ahmed Al-Saffar said, "The Finance Committee previously hosted the Governor of the Central Bank, Ali Al-Alaq, to discuss the interest rate on loans granted to citizens."

He added, "The central bank is the main source of funds and it is the one that determines the interest rate," noting that "the financial benefits of loans are very high because the central bank has set a certain percentage and there are banks that take a commission of 1% to 2%."

He pointed out that "the governor of the bank put forward several options to reduce the interest rate," stressing "the committee's intention to follow up on the matter after the end of the current crisis, because of its importance in reducing the economic recession in the country."

He explained, "Reducing or canceling the interest rate will encourage citizens to borrow, which will lead to raising the purchasing rate and easing the recession in the markets," noting that "the United States worked to reduce interest rates to zero, while Japan set the interest rate to -1, what It means that it gives benefits to the borrower in order to encourage him to borrow. "

He stressed the need to “reduce the interest rate to 3% as a first stage, and after another period it will be completely canceled until it reaches zero.”

Ended 29 / A 43

https://www.mawazin.net/Details.aspx?jimare=96249

by **claud39** Mon Apr 20, 2020 5:41 pm

Parliamentary finance reveals the reality of compulsory savings and confirms: the salaries of employees and retirees are insured

04/20/2020

Economy News _ Baghdad

The Parliamentary Finance Committee revealed, on Monday, the fact of compulsory savings, stressing that the salaries of employees and retirees are insured.

Committee member Hanin al-Qaddo said in a statement, "Economy News" received a copy of it, "The salaries of employees and retirees are insured for the year 2020," stressing that "the Parliamentary Finance Committee made three proposals that have not been discussed yet."

Al-Kiddo added, "The first proposal is compulsory saving, for example an employee who receives a salary of one million dinars, and deducts 250 thousand dinars from it, and it is returned to him after the recovery of oil prices."

He explained that "the second proposal is to offer a currency and this causes inflation in prices", pointing out that "the third proposal is to issue documents, that is, to sell oil that is in the ground."

http://economy-news.net/content.php?id=19887

by **claud39** Tue Apr 21, 2020 8:30 am

The Ministerial Council of Economy holds an emergency session and issues several decisions

04/20/2020

Economy News _ Baghdad

The Ministerial Council of the Economy held, yesterday evening, an emergency session to discuss the implications of the financial situation and the decline in oil prices, while taking several decisions.

The Office of the First Deputy Speaker of Parliament Hassan Al-Kaabi said, in a statement received by Al-Iqtisad News, a copy of it. He explained that "the meeting was attended by the head of the Parliamentary Finance Committee Haitham al-Jubouri, the head of the Energy Committee, Hebet al-Halbousi, the head of the Economic and Investment Committee, Ahmad al-Kinani, and a number of ministers and advisers."

The statement added, "During the meeting, the implications of the financial and economic situation and an unprecedented drop in oil prices were discussed, and supportive and urgent decisions were taken to efforts to combat the Corona epidemic and reduce its severity, as well as preventive measures that are associated with a total and partial curfew."

The statement pointed out that "the Economic Council issued a number of decisions and measures that reduce the risk of low oil prices that threaten the country's food security, salaries and efforts to combat the emerging Corona epidemic."

http://economy-news.net/content.php?id=19889

by **claud39** Tue Apr 21, 2020 8:42 am

Parliamentary Finance: External borrowing is subject to approval by Parliament

04/20/2020

The Economy News - Baghdad

The Parliamentary Finance Committee said on Tuesday that the government's approach to external borrowing needs the approval of the House of Representatives.

Member of the Committee, MP Ahmed Al-Saffar said in a statement reported by the official news agency "Waaa" and viewed by "Al-Iqtisad News", that "the government cannot resort to external borrowing without obtaining the approval of the House of Representatives," pointing out that "Parliament has already voted to prevent Borrowing from abroad until the old debts incurred by Iraq are paid.

He added that "foreign loans have a very high financial interest rate, especially since most loans are used for consumption and not for investment, which means that the government is unable to return them to pay them off."

He explained that "financial spending in the country reached a high level in the past month due to some measures taken by the government," noting that "salaries need about 3 and a half billion dollars a month, while sales of oil per month do not exceed two and a half billion dollars." .

He continued, "The government can resort to internal borrowing from banks and giant companies to meet financial expenditures in light of the current crisis," noting that "the superpowers in the period of crisis offer financial bonds with good interest rates to the market and then buy them again when the crisis ends."

http://economy-news.net/content.php?id=19899

by **claud39** Tue Apr 21, 2020 10:10 am

Parliamentary Finance - Page 2 5a63bac5-9067-4fdc-8e67-7947c04abe9b

The Ministerial Council of Economy holds its eighth session

Tuesday, April 21, 2020

The Deputy Prime Minister for Economic Affairs and Minister of Finance, Mr. Fouad Hussein, presided over the eighth session of the Ministerial Council of Economy meeting, in the presence of both the Ministers of Planning, Trade, Agriculture, Labor and Social Affairs, the Governor of the Central Bank of Iraq, the President of the National Investment Commission and the Prime Minister’s advisers for financial, economic and strategic affairs and the representatives of the ministries of Finance and Planning And oil also hosted the Council Mr. First Deputy Speaker of Parliament Mr. Hussein Al-Kaabi, Chairman of the Parliamentary Finance Committee Dr. Haitham Al-Jabouri and Mr. Ahmed Al-Kinani Chairman of the Parliamentary Economic Committee and Hebet Al-Halbousi, Chairman of the Energy and Oil Committee, Dr. Salem Chalabi, Adviser to the Prime Minister, and Dr. Abdul Karim Hussein, Chairman of the Investment Authority.

Where the economic and financial situation of the state was discussed, mechanisms for maximizing non-oil revenues and other measures to increase the state's public revenues and rationalizing government spending in light of global oil prices decrease and after reducing Iraq’s oil share in OPEC and the associated impact on the economic situation of the country and those present touched on the international economic situation And the impact of Corona virus on the major global economies, as well as the issue of supply and demand for the global oil market and a study of the state of the collapse in oil prices and their impact on the financial situation.

The mechanism for granting the financial grant to citizens who were affected by the curfew and stressing the speedy completion of the provision of the mechanism was also discussed

Where the President of the Council, Mr. Fouad Hussein, reviewed the financial situation, revenues and expenditures in the general budget of the state and its money from the requirements and its entitlements, as he stressed that the Ministry of Finance is responsible for the financial policy and also an executive body for government and cabinet decisions.

The Council also listened to the economic, financial and monetary visions and propositions presented by the attendees, the guarantor ways, solutions and remedies to get out of the financial crisis and the necessity of the executive and legislative authorities to cooperate and continue to hold meetings and consultations between the relevant and competent committees to reach the best and most successful solutions to the crisis to cross this crisis in order to meet the needs of citizens and provide food and drug security To them and protect the poor and low-income brackets.

http://www.mof.gov.iq/pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=816

by **claud39** Tue Apr 21, 2020 10:14 am

[size=32]The Finance Committee confirms the insurance of the salaries of employees and retirees[/size]

04/21/2020

Parliamentary Finance - Page 2 %D9%84%D8%AC%D8%A7%D9%86-%D8%A7%D9%84%D9%85%D8%AC%D9%84%D8%B3-800x445

Member of the Parliamentary Finance Committee Haneen Al-Qaddo confirmed on Monday 20/4/2020 that the salaries of employees and retirees are insured for the year 2020.

Al-Qudo emphasized that the Parliamentary Finance Committee made three proposals that were not discussed until this moment. The first is compulsory saving, whereby an employee who receives a salary of one million dinars, for example, deducts 250,000 dinars from him and is returned to him after recovering oil prices, while the second proposal is to offer a currency and this causes inflation In prices, pointing out that the third proposal is to issue documents, i.e. sell oil that is underground.

The House of Representatives,
the Information
Department , April 20 , 2020

http://ar.parliament.iq/2020/04/21/%d8%a7%d9%84%d9%84%d8%ac%d9%86%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%a4%d9%83%d8%af-%d8%aa%d8%a3%d9%85%d9%8a%d9%86-%d8%b1%d9%88%d8%a7%d8%aa%d8%a8-%d8%a7%d9%84%d9%85%d9%88%d8%b8/

by **claud39** Wed Apr 22, 2020 9:21 am

[size=32]Al-Kaabi and the Ministerial Council for Economy are discussing reform measures to overcome the economic crisis[/size]

04/21/2020

As a continuation of the series of meetings with the Ministerial Council for Economy, to discuss a set of government measures to address the economic crisis caused by the decline in oil prices in global markets and the repercussions of the global corona pandemic, Mr. Hassan Karim Al Kaabi, First Deputy Speaker of the House of Representatives met in his office today, Tuesday, 21 April 2019, Mr. Chairman of the Committee Parliamentary Finance Haitham Al-Jubouri and Mr. Abdul-Karim Al-Faisal, Chairman of the Council of Ministers Advisors, member of the Ministerial Council for Economy, and a number of advisors in the office.

During the meeting, the proposals were discussed and some views on the treatment of the economic crisis have matured, leading to the participation of the House of Representatives in the event that a legal and legislative cover for these reform measures is required.

Al-Kaabi said that "all countries of the world are currently facing the same enemies represented by the economic crisis and facing the pandemic of Corna, and this requires everyone to join hands, in order to get out of these crises."

He continued his Excellency that despite the crises and their negative effects and their repercussions on the individual, society and the country as a whole, but it could be the best opportunity to carry out reforms and develop solutions to problems, and find alternatives to maximize resources and revitalize important economic sectors, but were absent for certain reasons.

Media office of the
First Deputy Speaker of the House of Representatives
4/21/2020

http://ar.parliament.iq/2020/04/21/%d8%a7%d9%84%d9%83%d8%b9%d8%a8%d9%8a-%d9%88%d8%a7%d9%84%d9%85%d8%ac%d9%84%d8%b3-%d8%a7%d9%84%d9%88%d8%b2%d8%a7%d8%b1%d9%8a-%d9%84%d9%84%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af-%d9%8a%d8%a8%d8%ad%d8%ab/

by **claud39** Wed Apr 22, 2020 1:41 pm

A source for «Economy News»: Iraq adopts the price of $ 30 a barrel of oil in the budget for the year 2020

04/22/2020

Economy News - Baghdad:

A well-informed source revealed, today, Wednesday, that the cabinet approved the price of a barrel of oil at $ 30 for the current year budget and a deficit of 20 trillion dinars.

The source, who preferred not to reveal himself to "Al-Iqtisad News", said that "the advisory committee in the cabinet discussed with the Ministry of Finance and the Parliamentary Finance Committee the issue of adopting the price of $ 30 instead of $ 56 and that was approved by the Ministry of Finance."

He added that "the planned deficit in the budget for the current year after its recent update reached 20 trillion dinars."

He stressed that the Iraqi government will put forward a set of proposals to parliament to reduce the deficit, including offering bonds that the central bank buys, borrowing from government banks, and external borrowing.

http://economy-news.net/content.php?id=19922

by **claud39** Sat Apr 25, 2020 2:23 pm

Parliamentary Finance: Oil will not rise after the OPEC agreement, and Iraq must search for urgent alternatives

04/25/2020

Parliamentary Finance - Page 2 %D8%A7%D9%84%D9%86%D9%81%D8%B7-1-696x460

Parliamentary Finance - Page 2 %D8%A7%D9%84%D9%86%D9%81%D8%B7-1-696x460

Information / Baghdad ..

Member of Parliamentary Finance Committee Ahmad Hama confirmed on Saturday that there are no indications of high oil prices immediately after the implementation of the OPEC agreement to reduce production by about 10 million barrels, indicating that the end of the Corona crisis is the only way to raise oil prices again.

Hama said in a statement to "Information", that "the global agreement to reduce oil production between OPEC and Russia to about 10 million barrels will not significantly affect global oil prices."

He added that "global demand decreased by about 75% of the total normal consumption due to the stopping of vehicles in tens of countries after the imposition of the curfew, as well as the stops of factories and companies of all transport sectors in the world."

He explained that "the only solution to the end of the oil price crisis and the return of markets to their previous era after the end of the Corona crisis with dependence on reducing production", noting that " Iraq Need an urgent economic recovery plan to save the country from a severe economic crisis and the consequences. ”

Ended / 25D

https://www.almaalomah.com/2020/04/25/470459/

by **claud39** Sun Apr 26, 2020 9:24 am

Finance Committee: Reducing employee salaries will only include those with special grades

04/25/2020

Economy News _ Baghdad

The decision of the Finance Committee, Ahmed Al-Saffar, revealed, on Saturday, the date for reducing the salaries of employees due to the financial crisis in the country.

Al-Saffar said in a press statement seen by "Al-Iqtisad News", that the decision to reduce the allocations of some state employees has not yet been implemented, but it will enter into force if the economic and financial situation of Iraq remains as it is today.

He added that the targets of this decision are those with special grades, and employees with limited salaries will not be targeted.

http://economy-news.net/content.php?id=19961

by **claud39** Sun Apr 26, 2020 9:33 am

Officials talk about employee salaries

04/26/2020

Economy News _ Baghdad

Parliamentary and legal authorities reiterated their categorical rejection of any harm to the salaries of employees against the background of low oil prices, while the Finance Committee of the House of Representatives proposed three ways to provide these salaries in the coming months, and the government assured that any reduction of their employees ’rates would be reduced.

Member of the Parliamentary Finance Committee Ahmed Al-Saffar said in a statement to “Al-Sabah” and viewed by “Al-Iqtisad News” that “the first and easiest way to secure salaries is to resort to temporary treasury bonds (treasury bills) by placing bonds on the central bank, banks and private companies.”

He added, “One way is to move away from unnecessary spending, and focus on providing the funds needed to pay salaries by collecting surpluses from a number of fully suspended ministries devoted to investment projects.”

On the other hand, Undersecretary of the Ministry of Planning, Maher Hammad, said, “The economic and financial situation of the country is very difficult, but Iraq went through more difficult conditions than that in the year 2014 and exceeded it, even if the current crisis is a combination of the Corona pandemic and the decline in oil prices,” confirming that the “government” This crisis has two reform paths. "

"The issue of reducing the salaries of employees is very difficult for the state, and the government is trying not to resort to it and keep it out of mind," Hamad added.

In a related context, the advisor to the Prime Minister, Abd al-Hussein al-Hanin, affirmed that Iraq is "committed to all its financial obligations with international financial institutions, and there are understandings to deal with the crisis of the decline in oil prices and the Corona crisis."

"There are measures to rationalize and prevent waste," emphasized the Prime Minister's advisor, pointing out, "I do not think there is a serious threat to pay salaries in general."

For his part, legal expert, Tariq Harb, explained that "the government cannot prejudice the salaries of employees unless there is a law."

"If a law is not passed from the House of Representatives, the government may not reduce salaries, but rather it is presented to Parliament," Harb said.

http://economy-news.net/content.php?id=19963

by **claud39** Sat May 02, 2020 10:52 am

Parliamentary Finance: No reduction in employee salaries

02/05/2020

Economy News _ Baghdad

The Finance Committee in the House of Representatives has ruled out reducing or manipulating the salaries and allocations of employees, as it was enacted by law and can only be changed by a law issued by the House of Representatives, calling on the government to find other alternatives to bridge the deficit.

Member of the Finance Committee Hanin Qaddo said in a statement to "Al-Sabah" and his follow-up, "Al-Iqtisad News", that "the amendment of employee salaries needs a law, as well as allocations are also determined by special laws," noting that "reducing salaries without amending the law is a legal violation" .

He added: The government must find other alternatives, surprising the government’s silence from pumping 435 billion Iraqi dinars to the region without receiving an Iraqi dinar, indicating that the talk about the 2020 budget cannot be predicted now, as there is no government yet.

He pointed out that "in the event of forming a government, it will be one of its priorities to make budget amendments to ensure salaries and fight the Corona virus."

http://economy-news.net/content.php?id=20088

by **claud39** Mon May 04, 2020 10:27 am

Parliamentary Finance: The retirement salary and the employee's fixed salary are not covered by any future deductions

04/05/2020

Economy News _ Baghdad

Member of Parliamentary Finance Committee Mohamed Al-Darraji denied, on Monday, that there is any government plan to deduct the salaries of retirees due to the financial crisis, stating that salaries are granted based on a law that cannot be violated at all.

Al-Daraji said in a televised statement, followed by "Al-Iqtisad News", that "the pensioner's salary is fixed and is not included in any future deductions and he has no income in any general budget."

Daraji added, "The government cuts monthly out of the employee for the entire period of his service, which is his own money, which cannot be assaulted, as it belongs to the General Retirement Authority."

He explained, "Talking about cutting the employee's salary cannot happen because the employee is bound by a legal contract that cannot be vetoed by any party, especially the government, without the approval of Parliament, and this is not what happened at all."

http://economy-news.net/content.php?id=20114

by **claud39** Thu May 07, 2020 4:15 pm

[size=30]The government of Abdul-Mahdi ends its journey with an urgent decision to finance: stop financing immediately![/size]

2020.05.07

Parliamentary Finance - Page 2 A70a71f2a-30219

People - Baghdad

The General Secretariat of the Council of Ministers revealed a decision issued by the resigned government at the end of its work, pending the instructions of the new government.

And the decision, which "people" obtained a copy of (May 7, 2020), issued on May 5, to stop the financing in all its forms by the Ministry of Finance, until the new government studies the issue and takes the appropriate decisions.

The suspension of funding included the salaries of employees and retirees, as the retirement authority said in a brief statement that the previous cabinet had stopped spending and awaiting an exception from the new government to start paying the retired salaries.

The head of the authority, Ahmed Abdel-Jalil, said in a statement, "Nass", that the authority is making efforts with the Ministry of Finance and the Prime Minister to obtain an exception for the purpose of disbursing the salaries of retirees, stressing that contacts are being made on this matter in order to obtain approval of the exchange.

He added, "Iraq, as a country, has not entered in financial revenue due to the Korna pandemic and the collapse of oil prices," explaining that the authority is ready to pay the pensioners ’salaries even on official holidays, once an exception is obtained from the cabinet’s decision.

While he denied, deducting proportions from the retirees ’salaries or the existence of a tendency to cancel or reduce their salaries.

MP Mansour Al-Baiji criticized, earlier, the delay in the payment of pensioners ’salaries, demanding that they be paid immediately.

Al-Baiji surprised in a statement that "people" received a copy of it, (May 7, 2020), "delaying the payment of pensioners' salaries for the month of April until now despite the resounding statements made by the government and the concerned authorities that the salaries of employees and pensioners are insured throughout the current year," wondering about the reason for the late exchange The Roteb.

He added, "The delay in paying the retirees' salaries is unacceptable and the Minister of Finance should launch them immediately because the delay in launching them is a great injustice and prejudice against a large segment of the Iraqi people who served the country for a long time."

And between Al-Baiji, "The retired segment is the icon of Iraqi society who served the country for a long period of their lives and with all state institutions. Therefore, the government has a duty to direct them to provide special care for them, not to delay the exchange or cut off part of their pension salaries."

He continued, "Most of the retirees who served the Iraqi state and after their service ended and entering the legal age for retirement, they went out to suffer from chronic diseases and in need of treatment, which requires expediting the payment of their salaries that are their natural deserves and not from any party, so it must be expedited to disburse them without any delay in valuing them." .

https://www.nasnews.com/view.php?cat=30219

by **claud39** Fri May 08, 2020 9:24 am

Parliamentary Finance: There are no dangerous indicators regarding the inability to secure employee salaries

05/08/2020

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Economy News _ Baghdad

Member of Parliamentary Finance Committee MP Ahmad Mazhar confirmed on Friday that there are no dangerous indicators regarding the inability to secure the salaries of state employees.

Mazhar said in a press statement seen by "Al-Iqtisad News", that "the salaries of this May are insured and work is underway to secure the salaries of the months of June and July for those coming, stressing that there are no serious indications about the inability to secure the salaries of state employees."

Mazhar added, "The state has before it a set of solutions through which it can secure the salaries of state employees, and this does not mean that it has a magic wand, but the presence of an official government that possesses all powers is extremely important to open the doors of cooperation with all countries to overcome the crisis."

Iraq suffers from a suffocating financial crisis, especially with the collapse of global oil prices in the past weeks, which depend heavily on financing its annual budget.

http://economy-news.net/content.php?id=20179

by **claud39** Tue May 12, 2020 1:58 pm

Parliamentary Finance confirms that the budget file for 2020 will be finalized

12/05/2020

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Information / special

The Parliamentary Finance Committee confirmed, on Tuesday, that the budget for 2020 will be decided and sent to the parliament for the purpose of voting on it
. "It is hoped that the Parliamentary Finance Committee will have a meeting with the Minister of Finance Ali Abdul Amir Allawi to discuss the Ministry's plans regarding the budget and the mechanism for overcoming the current conditions in light of the low oil prices."

He added that "the Finance Committee will discuss with the Minister of Finance the plans of Prime Minister Mustafa Al-Kazemi regarding the 2020 budget and the outlines and priorities of the government on the budget."

And that "legislation of the 2020 budget law needs to speed up the budget completion process because the government and the financial committee must start discussing the 2021 budget during the month of July, so it is expected that the 2020 budget will be sent in the next few days."

25 n ended

https://www.almaalomah.com/2020/05/12/473687/

by **claud39** Sat May 16, 2020 9:41 pm

[ltr]Parliamentary finance reveals a "unprecedented" deficit in the 2020 budget[/ltr]

16/5/2020

Parliamentary Finance - Page 2 Story_img_5ebfd464c360f

[ltr][Baghdad-where][/ltr]

[ltr]
The Parliamentary Financial Committee revealed, on Saturday, a "unprecedented" deficit in the country's general budget for the current year 2020, noting that it is estimated at "69" trillion Iraqi dinars.[/ltr]

[ltr]Member of the Committee, MP Haneen Al-Qaddou said in a press statement that "the cabinet is working to address the financial crisis and reduce the percentage of deficits in the public budget for the year 2020 after it has become estimated at 69 trillion dinars."[/ltr]
[ltr]

He added that "the budget for the current year will be operational and semi-annual and different from the budgets of previous years," noting that "the operational budget will focus on securing the salaries of employees, retirees, social welfare and ration card items."

And the role model, "The deficit rate in the public budget will exceed 75 trillion dinars, if oil prices fall to the lowest level in the coming period."[/ltr]
[ltr]

Members of the Parliamentary Finance Committee confirm, through previous statements to Shafaq News, that the federal budget for the current year 2020 will be discussed and approved in Parliament after Eid Al-Fitr.[/ltr]
[ltr]

The price of a barrel of oil has decreased since the outbreak of the Corona virus, which led to fears of the effect of the decrease and lack of revenue on the Iraq budget for 2020 and affected the operational budget and salaries of government employees and retirees.[/ltr]
[ltr]

It is noteworthy that sending the federal budget by the government to the Iraqi parliament has been delayed due to the continuous protests since last October, which led to the resignation of the previous government headed by Adel Abdul-Mahdi and its transformation into a caretaker government that is not empowered to send the draft budget budget to the parliament.[/ltr]

http://www.alliraqnews.com/modules/news/article.php?storyid=92177

by **claud39** Sun May 17, 2020 10:39 pm

[size=36]Al-Attar: The Economic Council's working paper, a new first for Iraq[/size]

05/17/2020

Parliamentary Finance - Page 2 91752020_b563afa1-6085-49cd-a8de-5207e65395fc%20(1)

Baghdad - Mawazine News

, a member of the Iraqi Economic Council, Ghadeer Al-Attar, stressed the importance of the decisions that economists launched in their recent Ramadan symposia.

”Al-Attar said in a statement that Mawazine News received a copy of it,“ The Iraqi Economic Council’s Ramadan symposium represents the first new work for the country as it came out With a real working paper represented in setting up a new mechanism for import and tightening state control over the border outlets in addition to government and ministerial accreditation on the private sector product on a national basis as well as inviting the working paper to approve the proposals paper prepared by the Advisors ’Commission in addition to other decisions deemed important "What is the current time that Iraq is going through."

Al-Attar, who is Chairman of the Al-Attar Group Board of Directors, added: "The working paper is excellent and inclusive of most ideas and visions that support finding ways to get out of the economic crisis and demanding the automation of government work in all joints."

The Iraqi Economic Council held a Ramadan symposium under the slogan (The reality of major economic challenges in light of the implications of the emerging Corona crisis and possible solutions) last Wednesday under the patronage and presence of the Chairman and members of the Finance Committee and the Representatives and Investment Committee and Minister of Planning Khaled Battal Najm in addition to the representative of the Governor of the Central Bank of Iraq Ihsan Al-Yasiri, general managers, heads of agencies and a large number of businessmen and the private sector.

Parliamentary Finance - Page 2 10175202074f62f4a-34f9-4a6f-b490-6b4ce926e87b

https://www.mawazin.net/Details.aspx?jimare=100838

by **claud39** Mon May 18, 2020 9:41 am

Parliamentary Finance reveals moves to settle the debts of telecom companies

18/05/2020

Economy News _ Baghdad

The Finance Committee revealed in the House of Representatives, on Monday, the existence of a move from the judiciary to resolve the debt owed by the telecommunications companies in Iraq.

The Chairman of the Finance Committee in the House of Representatives, Haitham Al-Jubouri, said in a press statement that was followed by "Al-Iqtisad News", "Some of these debts were not settled permanently, some of them by violations or fines and others by using un agreed options."

The first deputy speaker of the House of Representatives, Hassan Al-Kaabi, had confirmed earlier that the parliament will discuss the postponement of debts, licensing contracts and the amounts of phone companies, while the country is going through a dangerous stage, which has not gone through the length of its history and efforts must be joined to overcome it.

http://economy-news.net/content.php?id=20303

by **claud39** Sat May 23, 2020 10:04 am

Parliamentary finance reveals the completion of a new formula to amend the retirement law

05/23/2020

Economy News _ Baghdad

The Financial Committee revealed, on Saturday, the completion of a new formula for amending the Unified Retirement Law, noting that the prepared amendment was written with the aim of lifting the injustice inflicted on many employees.

Committee member Magda Al-Tamimi said in a statement, "Economy News" received a copy of it. Duration of civil service and referral of employees to retirement upon completion of 60 years instead of 63 years.

Al-Tamimi said that "successive government mistakes and financial mismanagement of the country cannot be borne by employees or any of the categories of the Iraqi people," pointing to "the importance of using unique minds and capable figures who can find appropriate solutions to the economic problems that the country is going through."

Al-Tamimi indicated that "the prepared amendment was written in a form that guarantees justice for all with the aim of removing the injustice suffered by many employees," noting that "a large number of support for the amendment will be presented soon to discuss the new amendment and exchange views on it."

Al-Tamimi stressed, "Creating appropriate remedies for all questions raised and that may be raised in the future," noting that "appropriate solutions have been developed for the fairness of employees who have been referred to retirement and do not constitute harm to the state."

http://economy-news.net/content.php?id=20387

by **claud39** Sat May 23, 2020 10:09 am

Finance: Wrong budgeting method. New numbers added every year

05/23/2020

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Economy News _ Baghdad

The Ministry of Finance confirmed, on Saturday, that the budget method is wrong and lacks the economic and realistic view and vision, which is a collection of numbers and each year new numbers are added to it.

Finance Minister Abdul-Amir Allawi said, "The way to draw the budget is wrong and lacks the economic and realistic view and vision, which is about adding numbers and every year new numbers are added to it," noting that "the budget problem is great because of salaries, allocations and state expenditures related to legal benefits, where laws are enacted Without taking its financial impact, such as increasing salaries, increasing the social network, increasing benefits, or retirement and all these things are reflected in the budget.

He added, "We should not count on high oil prices and depend on resources and self-possibilities as it is a major axis of the economy." He pointed out that "the government is now running the budget on the basis of the 2019 budget and divided into twelve months. the prices".

And Allawi said that "Iraq does not have safety valves such as those in the Gulf, which drives the government to deal with international institutions such as the International Monetary Fund and the World Bank, but the IMF has a kind of immediate support based on technical measures, which may require months, while the financial problem we have requires Very fast processing. "

http://economy-news.net/content.php?id=20389

by **claud39** Sat May 23, 2020 10:14 am

Finance Minister: We will resort to reducing the salaries of employees

05/23/2020

Economy News _ Baghdad

Finance Minister Ali Abd al-Amir Allawi revealed the categories covered by the reduction of salaries, while specifying the deduction mechanism and ways to reduce it or withdraw it saving.

Allawi said, in a television interview followed by "Al-Iqtisad News", that "the government will determine the priorities of the crushed and poor class and that any reduction in salaries will not include employees, or retirees at lower levels who receive a salary of 500 thousand dinars or less," noting that "the rest of the other groups, which Consume half of the budget with high salaries will be covered and reduced. "

He added that "a waste represented in the allocations of the higher grades will be covered by the reduction," noting that "the category close to the fifth degree we will try to reduce the damage to it by reducing the reduction or withdraw it saving and link it to health or housing insurance or health insurance."

http://economy-news.net/content.php?id=20391

by **claud39** Sun May 31, 2020 10:57 am

Parliamentary Finance: 30 items of revenue that are not entered into the budget due to corruption

05/31/2020

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Economy News _ Baghdad

The decision of the Parliamentary Finance Committee Ahmad Al-Saffar revealed, on Sunday, 20 to 30 items of revenue that do not enter the budget due to corruption, while warning that prejudice to the employees ’salaries constitutes a threat to government stability.

Al-Saffar said in a televised interview followed by "Al-Iqtisad News", that "prejudice to the salaries of employees in light of the circumstances that Iraq is going through today to confront Corona and the economic recession; Very dangerous for government stability, especially since this crisis will not exceed more than two months, as oil prices are rising and the global economy has begun to regain its vitality again. ”

He added, “Borrowing from the central bank’s reserves for two months is a quick solution that can be easily compensated and returned at a low interest rate, as it is short-term.” .

Al-Saffar said, “The government should exclude unnecessary expenditures related to large allocations and other matters related to petty cash and protections, which also constitute a waste of public money.”

He pointed out that “the state has from 20 to 30 items of revenue that do not enter the budget due to corruption starting with border crossings and customs And the real estate of the state, so the financial system must be re-established, move away from monetary policies, deal with cache and rely on the electronic automation of payment, in addition to resorting to the biometer until the state gets rid of the burden of multiple salaries, and we need to review the salaries and put a new ladder for them.

Al-Saffar stressed, "Restructuring the financial system for public revenues, as well as getting rid of the rentier system that depends on unstable oil revenues and relying on diversification of resources such as agriculture, industry and tourism, and that Iraq be an importer."

http://economy-news.net/content.php?id=20500

by **claud39** Tue Jun 02, 2020 6:47 pm

Finance launches the salaries of all employees of the late state

02/06/2020

Economy News _ Baghdad

The Director General of the Accounting Department of the Central Bank of Iraq, Ihssan Al-Yasiri, revealed, on Tuesday, the release of the salaries of all government departments, indicating that a limited number of salaries will be transferred tomorrow entirely.

Al-Yasiri said in televised statements, followed by "Al-Iqtisad News", that "all the salaries of state employees were released this afternoon and I have contacted a number of banks to make sure that the procedures are completed."

He added, "The finance funded all the salaries, and the sums have been paid to the banks for distribution, and the remaining process will be completed tomorrow morning."

The delay in the Finance Ministry caused the release of employees' confusion among employees, especially those with limited salaries, before the Eid al-Fitr holiday.

http://economy-news.net/content.php?id=20541

by **claud39** Wed Jun 03, 2020 11:37 am

[size=32]The Finance Committee discusses ways to get out of the financial crisis and stresses not to prejudice the salaries of employees and retirees[/size]

3/6/2020

Parliamentary Finance - Page 2 %D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-A24I2312-800x445

Parliamentary Finance - Page 2 %D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-A24I2312-800x445

The Finance Committee held a meeting chaired by Deputy Dr. Haitham al-Jubouri and attended by a number of its members on Wednesday 3/6/2020, during which they discussed the financial crisis the country is going through, and discussed ways to get out of it in light of the health crisis by the spread of the Corona pandemic across the country.

During the meeting held in the House of Representatives, the issue of internal and external borrowing was discussed to bridge the budget deficit after the large drop in oil prices, as the committee suggested that the government send a bill to the parliament in this regard to be discussed and voted on.

The Finance Committee stressed the need to get out of this crisis without compromising the rights of employees and retirees, as well as to maximize non-oil revenues to fill the deficit in the public budget.

The committee also discussed the issue of automating procedures in taxes, customs and border outlets and controlling them completely by the state to reduce corruption and waste in public money, as it is considered one of the most important resources that supply the general budget.

The Finance Committee also indicated that it followed the stages of referring the automation project to the specialized companies and stressed the need to expedite the completion of this project.

The head of the Finance Committee, Dr. Haytham Al-Jubouri, revealed the committee’s readiness to present tight economic reform plans to avoid the country occurring in such crises in the future, provided that the government adheres to these plans as it was prepared by specialists in this field and familiar with the financial details of the country.

At the end of the meeting, the Finance Committee discussed the work of its sub-committees on the building of the central bank and electronic payment companies and focus on the importance of protecting the financial data of the participants in these companies.

Parliament,
Information
Department 3/6/2020

https://ar.parliament.iq/2020/06/03/%d8%a7%d9%84%d9%84%d8%ac%d9%86%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%86%d8%a7%d9%82%d8%b4-%d8%b3%d8%a8%d9%84-%d8%a7%d9%84%d8%ae%d8%b1%d9%88%d8%ac-%d9%85%d9%86-%d8%a7%d9%84%d8%a7/

by **claud39** Fri Jun 05, 2020 10:25 am

The Budget Department reveals the reasons for the delay in the salaries of new hires in the directorates of education

05/06/2020

Economy News - Baghdad

The Budget Department of the Ministry of Finance revealed the reasons for the delay in the release of salaries for new appointments in education directorates.

The Director General of the Department, Taif Sami, said in a statement seen by "Al-Iqtisad News", "In 2019, the Budget Department audited the vacant grades for the years 2016, 2017 and 2018, and conducted the deletion and creation for the purpose of launching appointments in all education directorates."

She added: "The education directorates' delay in approaching the budget department by conducting the transfer prevented the payment of dues of the new recruits, pointing out that the account managers in each directorate were supposed to calculate the costs and send them to the Ministry of Finance to take the necessary measures."

She pointed out that "the Budget Department calculated during the year 2019 the cost of vacant grades and included them in the 2020 budget," noting that "the draft budget law has not been completed by the government until now, as a result of the global financial crisis and the collapse of oil prices."

And she stated, "The disbursement in 2019 differs from last year, according to the Financial Management Law No. 6 of 2019," stressing that "the Accounting Department at the Ministry of Finance worked to secure salaries, the ration card and the necessary expenses."

She pointed out that "the Accounting Department, when it calculated the costs of the new appointees, found that it would exceed the pure ratio of 1 to 12, and this requires legislation by Parliament," stressing "its intention to submit the matter to the Cabinet to take the necessary action."

http://economy-news.net/content.php?id=20588

by **claud39** Sat Jun 06, 2020 9:18 am

Parliamentary Finance: The crisis is temporary, and the budget will be private

06/06/2020

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Economy News _ Baghdad

The decision of the Parliamentary Finance Committee, Ahmed Al-Saffar, considered Saturday that the financial crisis in Iraq is "temporary", and is the result of a "mistake" in the financial and economic policies, suggesting resorting to borrowing through temporary treasury bonds to bypass the crisis, while the fiscal budget for 2020 will be private And semi-annually.

Al-Saffar said in a press statement seen by "Al-Iqtisad News", that "the fastest and easiest solution to overcome the financial crisis or part of it at the present time, which does not cost the government a lot, is to resort to borrowing through temporary treasury bonds," noting that "the next step for it should be It includes redefining the financial policy of the Iraqi state in general at the level of public spending and public revenues. "

He added, "General indicators indicate that Iraq is a rich country and its resources are many material and human. The country is not in a real crisis but rather a temporary result of the error in the financial and economic policies since 2003 and the transformation of the Iraqi economy from a product to a unilateral rentier dependent on one source, which is oil And as soon as it decreased, we found ourselves in this crisis, and that the government should not only search for salaries, but rather search for the development of sectors that address unemployment and poverty. "

He pointed out that "we entered into the month of June, and until the moment there is no budget, which made us demand in the parliament session last Wednesday, the government to send it quickly before the end of the current month," noting that "the budget will be a special semi-annual that will not include an investment aspect and implementation of projects, but will be Focusing on the operational side and the revenues that will finance it are present. As for the projects proposed for the current year, they can be rotated to the budget for next year. "

He continued, "Iraq is in a crisis and its cause is not a lack of resources, but rather because of mismanagement of these resources. We need two things, the first of which is the will and firmness in decision-making, and secondly we need good management of state funds and resources," saying that "cutting part of the salaries or allocations of the presidencies" The three will not address much of the budget deficit because if we cut all the salaries and allocations for the presidencies, the amount will not be large enough to guarantee the treatment of a clear percentage of public spending, just as those allocations were approved by law and anything approved by a law can only be changed by law.

http://economy-news.net/content.php?id=20603

by **claud39** Sat Jun 06, 2020 10:05 am

Reuters: 15,000 Iraqis have lost their jobs due to Corona

06/06/2020

Economy News _ Baghdad

Reuters revealed on Saturday that about 15,000 Iraqis have lost their jobs due to the crisis, which was caused by the outbreak of the "Corona" virus, warning of a wave of anger the government may face.

The agency's report, released today, is as follows:

Muhammad Haider, a security officer in the oil fields in southern Iraq, thought he was safe after signing a new one-year work contract to guard oil installations. But after three days, he found himself without a job.

The man, 38, said during his protest outside the headquarters of the Basra Oil Company, the local partner of foreign companies, "Our company came out to us and land us on the sidewalk."

Haidar was hired to drive vehicles for a British security company around the huge West Qurna 1 oil field, which produces hundreds of thousands of barrels of oil per day and is part of the country's main source of wealth.

The man currently spends his time at home or searching in vain for jobs on the Internet that are seldom found in an economy in crisis.

Haider said at his residence later, "Even Mako taxi (there is no) work. Because someone who gets locked up and is fined (fined) because of this epidemic, Coronavirus.

One of the thousands of workers in the Iraqi oil sector who were laid off this year after the decline in crude prices as a result of the Covid-19 epidemic is struggling to find another source of income.

Iraq asked international oil companies in March to reduce their budgets by 30 percent due to a collapse in crude prices. Southern energy companies responded by cutting costs.

Subcontractors, including security, construction and transport companies, have laid off thousands of workers, according to local authorities.

Mohammed Abadi, a local official in Basra Governorate, where most of the southern oil fields are located, said that companies had dispensed between 10 thousand and 15 thousand Iraqis out of about 80 thousand Iraqis working in oil fields.

He added that Iraqi employees, most of them in companies operating under the suburbs, had to take leave without pay or leave work altogether.

The British security company, which contracted Haydar, declined to comment.

* Half-salary.

The Abadi office received dozens of complaints from employees who demanded that the Iraqi authorities punish companies that do not comply with the terms of termination of contracts. Al-Abadi said that the local authorities negotiated granting about two thousand workers who were laid off between 50 and 25 percent of salaries for a period of four months.

"The government does not accept the arbitrary dismissal of local employees," said Khaled Hamza, an official at Basra Petroleum Company, adding that it needed to protect the jobs of local residents in particular.

Iraq has pledged to reduce oil production by at least one million barrels per day in the context of OPEC cuts. Iraq exported 3.2 million barrels per day in May. The cut has reduced government revenues, of which more than 90 percent is oil.

The government may have to cut public sector salaries, a move that will further anger Iraqis who organized protests last year against government corruption allegations and job shortages.

Ebadi fears the deterioration of the economic and social crisis in light of the Covid-19 epidemic that is ravaging the country.

Because most jobs in Basra are linked to the energy industry, it is almost impossible for employees like Haidar to find an alternative source of income.

The man who supported three children and worked as a driver for the British company for five years was ready to work in any job in order to support his family.

Haydar fears that he may be unable to cover the costs of the study or the medical expenses, saying, "We hope to return us, even even at half salary."

http://economy-news.net/content.php?id=20606

by **claud39** Wed Jun 10, 2020 9:22 am

Including the salaries of the new education appointees in the 2020 budget

10/06/2020

Economy News - Baghdad

Baghdad Governor Mohammed Jaber Al-Atta announced, on Wednesday, that the Ministry of Finance will include the allocations of the new appointments to the owners of the six education directorates within the budget for the current year.

Al-Atta said in a statement seen by "Al-Iqtisad News", that "the Ministry of Finance has responded to the communications of the Baghdad Governorate and the six education directorates and announced in an official letter the inclusion of salary assignments for the new appointments to owners of education directorates (first, second, third, and first, second and third rents) within the draft federal budget law For the year 2020 ".

http://economy-news.net/content.php?id=20678

by **claud39** Wed Jun 10, 2020 9:31 am

Parliamentary Finance: Retirement salaries are illegal and no warrant has been issued

06/10/2020

Economy News _ Baghdad

On Wednesday, the Finance Committee in Parliament described the retirement salary deduction as an "illegal" measure, and no order was issued.

Member of Parliament Abdul-Hadi Al-Saadawi confirmed that the committee will intervene to find out the reasons for deducting the salaries of retirees, noting that the Cabinet did not issue a decision to deduct.

Al-Saadawi said in a press interview, "The decision to deduct any part of the pensioners’ salaries does not exist, and there is also no law for any government agency to deduct the pensioners' salaries, except through legislation within the Iraqi parliament, to be according to a specific mechanism and in accordance with the unified pension law. "

And, "The deductions that took place in the salaries of retirees have not been announced by any government agency, and we will intervene and know from the retirement organization what are the reasons for deductions from the salaries of retirees," stressing that "there is no decision by the Council of Ministers to deduct, as even the Ministry of Finance is not entitled to It has it.

http://economy-news.net/content.php?id=20683