Parliament votes in its Wednesday session on the internal and external borrowing law

Monday 08, June 2020 23:23
 
Baghdad / Nina / The House of Representatives will vote in its next Wednesday session on the internal and external borrowing law to finance the fiscal deficit for the current year.

A statement of the media department that received the Iraqi National News Agency ( NINA ) said: The agenda of Wednesday's session also includes the first reading of the draft law for the second amendment of the Public Roads Law No. 35 of 2002.

He added: The session includes reading the report of the Agriculture, Water and Marshes Committee regarding the marketing of wheat crops in addition to discussions General. End 3

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2020.06.04









  
 
  

if they bring in about4.5 billion a month salih claims and they need 7.5 a month i think they have some issues correct

[size=32]In the presence of the Presidency of the House of Representatives ... the Finance Committee hosts the Ministers of Finance and Planning and the Governor of the Central Bank to discuss the financial crisis[/size]




 10/6/2020



In the presence of Speaker of Parliament, Mr. Mohamed Al-Halbousi, and First Deputy, Mr. Hassan Karim Al-Kaabi, the Finance Committee headed by Deputy Dr. Haitham Al-Jubouri, Chairman of the Committee, and the presence of the ladies and gentlemen, members of the Minister of Finance, Mr. Ali Abdel Amir Allawi, Minister of Planning, Khaled Najm Battal, the Governor of the Central Bank, Mr. Ali Al-Alaq, and the advance staff at the Ministry of Finance to discuss the financial crisis the country is going through and discuss the local and external borrowing law.


Speaker of Parliament Mr. Mohamed Al-Halbousi stressed that the financial crisis that the country is going through requires concerted efforts between the legislative and executive authorities and taking important decisions that will correct the mistakes of the past, provided that employees, retirees and people with limited income do not fall victim to these decisions, but rather they are in their best interest.


Mr. Al-Halbousi stressed the necessity for the government to address the issue of discrepancies in spending in the salaries of state employees and to be fair to employees in this aspect, as well as to rely on resources other than oil such as customs revenue, tax and taxes, and that the state impose its control on border crossings.


Mr. Council President also explained that the financial crisis cell should continue even if oil prices rise to avoid such crises, in addition to the state undertaking a real review of all its financial and economic expenditures and priorities.


For his part, First Deputy Speaker of Parliament Hassan Karim Al-Kaabi stressed that the financial crisis is not only in the decline in oil prices, but rather is a group of accumulations that needs real reform and in the long run.


Mr. Al-Kaabi stressed that the government should provide a productive economic and financial reform paper that takes into account the investment sector, the promotion of suspended and lagging projects in addition to the private sector, taking into account those with limited incomes and providing job opportunities for the unemployed.


In the same regard, the Chairman of the Financial Committee, Dr. Haitham Al-Jubouri said that the committee was suffering from poor communication with previous governments and not responding to the advice and solutions that were provided by the government's financial committee on fiscal policy.


The Finance Committee called for it to be a partner in taking important decisions with the government, as well as for the local and external borrowing law provided by the government to match real reform steps to avoid the country from falling into such crises in the future.


The ladies and gentlemen of the members of the Finance Committee and the heads of the parliamentary committees and a number of the members of the House of Representatives who attended the meeting presented their opinions and proposals regarding the financial crisis and the reduction of the salaries of employees and retirees and the law of local and foreign borrowing, stressing the need to pay attention to people with limited income and the families of martyrs and prisoners and that the reform decisions do not affect Government on these slides.


The Minister of Finance Ali Allawi reviewed the Iraqi financial situation in light of the low oil prices and the spread of the Corona pandemic and the global economic crisis that caused it, indicating that the accumulations of the past have left a significant impact and several problems and mistakes on the economic reality in the country that requires all efforts to get out of them.


Allawi stressed that the government is working on a clear and ramified plan that affects all Iraqi economic realities and areas, as well as joint and continuous cooperation with the Finance Committee for Reform in the legislative aspects.


After that, the Minister of Planning, Khaled Najm Battal, gave a detailed explanation of the total number of investment projects, which numbered 6 thousand projects. Some of these projects are between stalled and depleting, and he needs to be allocated funds from the budget, given that these projects are equivalent to the salaries of the employees, as they will provide job opportunities to employ the unemployed and get up. In the private sector and spinning the Iraqi economy.


The Governor of the Central Bank, Ali Al-Alaq, provided a full explanation regarding the external borrowing mechanism, which will contribute to preserving foreign currency capacities and raise the pressure on the central bank reserves, as well as it has become a realistic matter to bridge the budget deficit and ensure payment of salaries of employees and retirees and the social welfare network.


In conclusion, after the Finance Committee heard all the suggestions and opinions submitted by the women and gentlemen members of the House of Representatives and the government's viewpoint represented by the Minister of Finance and the Minister of Planning and the Governor of the Central Bank, the Finance Committee completed its discussions of the local and external borrowing law and voted to submit it to the House for the purpose of voting on it.


House of Representatives,
Media
Department 6/10/2020




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[size=32]The Finance Committee continues its discussions on domestic and external borrowing law[/size]




[size=12] 06/11/2020[/size]



The Finance Committee, headed by Deputy Dr. Haitham al-Jubouri and the attendance of the committee's ladies and gentlemen on Thursday 11/6/2020 to complete the discussions on the draft of the local and external borrowing law and put the final touches on it.


The Finance Committee discussed the presence of a number of women and gentlemen members of other parliamentary committees during the meeting that was held in the hall (Al-Shabibi) a number of points and inquiries to clarify regarding the draft of the borrowing law, the most important of which is the ceiling of this borrowing and the length of time for it, with the government taking into consideration the rise in oil prices in Global Market.


The Finance Committee indicated by operating numbers the operating expenses to cover the salaries of employees, retirees and the social welfare network for the remaining seven months of the year 2020, according to which the amount of borrowing is determined, in addition to the need to specify a minimum of 25% ؜ of the total borrowing size of investment projects to move the Iraqi economy and provide job opportunities for youth Jobless.


The Finance Committee stressed the importance of the government sending the economic and financial reform paper to the House of Representatives for the purpose of reviewing financial and economic policy and correcting this path that affects the citizens ’livelihood, as well as the government’s adoption of various ideas and opinions in filling the budget deficit other than deducting the salaries of employees and retirees, which is rejected And categorically in the Finance Committee and the House of Representatives.






House of Representatives,
Media
Department 6/11/2020


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[size=32]The Finance Committee discusses with the Minister of Finance ways to get out of the economic crisis and complete its discussions on the borrowing law[/size]




 06/20/2020






The Finance Committee, headed by Deputy Dr. Haitham al-Jubouri and the attendance of a number of members of the committee on Saturday 20/6/2020 Mr. Finance Minister Ali Abdul Amir Allawi to discuss the economic crisis the country is going through and ways to get out and complete its discussions on the law of internal and external borrowing.


Part of the meeting was chaired by the first deputy speaker of the House of Representatives, Mr. Hassan Karim Al Kaabi, who welcomed the Minister of Finance, as he stressed that the parliament is waiting for the government to make real reforms that affect the lives of citizens and do not affect them negatively, in addition to that the House of Representatives supports any reform measure that fights corruption In state institutions.


The Finance Committee clarified that the government has many solutions and steps that contribute to increasing the state’s resources and supplying the budget with large sums other than deducting the salaries of employees and retirees, since the House of Representatives in general and the Finance Committee in particular reject this idea and is consistent with the aspirations of the people who desire decent living and economic stability.


The Finance Committee added that the law of internal and external borrowing will be a temporary solution to bridge the budget deficit, provided that the government is committed to sending the Economic and Financial Reform Law to the House of Representatives in a period not to exceed 60 per day to keep the country away from the specter of future financial crises.


And the committee stated that one of the most important reform measures that the government should take is to automate customs, fully control it, collect electricity and impose sales tax through a law that enables customs to withhold these taxes before entering the country, as well as offering some self-financing companies to invest in support of the private sector Which will reduce the burden on the public budget and provide job opportunities for many unemployed young people with higher degrees.


After the Finance Committee reviewed the letter of the Ministry of Finance - Budget Department - expressed its readiness to add a text within the borrowing law that allows the Ministry of Finance to release funding for the salaries of new hires in the Ministry of Education as an exception to the provisions of paragraph (First) of Article (13) of the Federal Financial Management Law No. ( 6) for the year 2019.


For his part, the Minister of Finance Ali Abdel Amir Allawi gave a detailed explanation of the financial and economic reality that Iraq is going through and the size of the budget deficit and the amount required within the law of internal and external borrowing to cross this crisis, adding that the paragraph added by the Finance Committee in the borrowing law regarding the government’s submission of the reform paper Economic and financial is very important and you will work on it as quickly as possible.






House of Representatives,
Media
Department 6/20/2020


https://ar.parliament.iq/2020/06/20/%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%a8%d8%ad%d8%ab-%d9%85%d8%b9-%d9%88%d8%b2%d9%8a%d8%b1-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%b3%d8%a8/

[size=32]The Domestic and External Borrowing Law to Fund the Financial Deficit of 2020[/size]




 06/24/2020






Supervising Committee: The Finance Committee

The Domestic and External Borrowing Law to Fund the Financial Deficit of 2020

•  Vote
  
  
•  The first reading
  
  

[size=32]The House of Representatives votes on the domestic and external borrowing law[/size]




 06/24/2020
 


The House of Representatives voted at its sixth session of the fourth parliamentary session for the second legislative year of the second legislative term that was held under the chairmanship of Mr. Mohamed Al-Halbousi, Speaker of the Council, on Wednesday 24/6/2020 in the presence of 168 deputies, on the draft domestic and foreign borrowing law to finance the fiscal deficit of 2020.

At the start of the session, the House of Representatives recalled the anniversary of the martyrdom of Mr. Muhammad Muhammad Sadiq al-Sadr and his two sons, and Mr. Al-Halbousi called on women and gentlemen representatives to read Surat Al-Fatihah on the spirit of Mr. Muhammad al-Sadr.

Then, the council read Surat Al-Fatihah to pay tribute to the victims of the Corona pandemic in Iraq, including former player Captain Ahmed Radi and his colleague player Ali Hadi.

The Council voted on the draft of the domestic and foreign borrowing law to finance the fiscal deficit for the year 2020 submitted by the Finance Committee due to the delay in approving the federal budget for 2020 and the spread of the Corona pandemic in the world and the decline in crude oil prices significantly. The Iraqi government is facing difficulty in financing public spending and in order to facilitate the financing of expenditures General necessary.

In a statement read during the session on the Turkmen component, MP Arshad al-Salhi called on the Prime Minister to fulfill his legal responsibility and implement his promise to grant the post of Minister of State to the Turkmen component to support the participation of the Iraqi people in building the state.

In turn, the Speaker of Parliament stressed the need for the Prime Minister to abide by the government program and the promises he made during the voting on the cabinet.

Then it was decided to adjourn the session
Media Department,
House of Representatives
6/24/2020


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[size=30]The Finance Committee plans to "strangle" the government with salaries and prevent borrowing to force it to financial reform[/size]


2020-06-24














Yassin Iraq: Follow-up

The Parliamentary Finance Committee revealed today, Wednesday, its objection to the parliament’s move towards voting on the borrowing law, while providing justifications for that.

Committee member Jamal Kujer said in press statements, “The committee objected to two reasons, the first of which is the government resorting to borrowing without reform and the reform is supposed to come first, and if it does not achieve what we are hoping to go to, the second reason relates to the ceiling of borrowing set by the Finance Committee at 5 billion and 15 trillion while The government is demanding more money. ”

He added, "The committee refuses to borrow to secure salaries only, as it is an operational matter, which means that the weight of the next year's budget in 2021 and the budget that follows is around 20 billion dollars without any financial return."

"There is an equation between loans and reform, that is, the more loans increase, the more the government will move away from real reform, meaning that if the government does not find money, then it will have to reform, but if the money is there, no reforms will take place," Cougar said.

He pointed out that "the committee allowed the government to borrow to secure these two months only in order to reap the fruits of its reforms, which must begin from now," noting that "the salaries will be distributed on time and there is no truth to what is rumored to be distributed every 45 days."




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Al-Iktissad News publishes the final version of the local and foreign borrowing law sent to the presidency




25/06/2020





















http://economy-news.net/content.php?id=20847

[size=32]Al-Kaabi issues a statement regarding the House’s vote on the borrowing bill[/size]







 06/25/2020

Thursday 25, June 2020 















Baghdad / Nina / Head of the Parliamentary Finance Committee, Haitham Al-Jubouri, confirmed that internal loans will guarantee salaries for only 3 months.

Al-Jubouri said in a televised meeting followed by the Iraqi National News Agency ( NINA ), that the OPEC Plus agreement was unfair to Iraq and did not take into account the exceptional circumstances of Iraq, adding that our foreign relations were supposed to be invested to return Iraq’s share of oil exports.


 / End 2





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