Articles added to the borrowing law voted by Parliament

by **Ponee** Wed Jun 24, 2020 9:30 pm

In documents … Articles added to the borrowing law voted by Parliament

24th June, 2020

The committee’s proposal: adding a new article to this law from the date of their approval of the reasons behind the delay in sending the federal general budget. This law was passed.

The committee welcomes: adding a new article: the finance and accounting department finances the salaries and allocations of employees of all centrally funded agreement units in all children or Iraq from the new appointees who are appointed to the grades (coded in years (and 2018 And the degrees introduced in the General Budget Law MOA and those who started their work according to the provisions of Article (1 / First) of the Financial Management Law No. (1) for the year 2019 amended.

Committee’s proposal: adding a new article to the Cabinet to address the financial entitlements of external lecturers, doctors, health personnel and all contracts and daily procedure when preparing a draft general budget law for the year of dress (2020) The committee’s proposal: adding a new article requiring all state institutions and departments to adopt biometric fingerprints in their identifying identities affiliated to them for the purpose of centralizing data and information.

Adding a new article, the Cabinet provides a program for economic reform within a period not exceeding (10) days from the date of publication of this law, and it is only fun from our public awareness. This article is valid until the end of the fiscal year 2020 or until the Federal Budget is approved, whichever is next.

In the name of the republican people What was approved by the House of Representatives and approved by the President of the Republic based on the provisions of item (First) of Article (61) and Item (Third) of Article (73) of the Constitution Law The following: No. () of the year 2020 The Domestic and External Borrowing Law Financing the Financial Deficit for the year 2020
Article -1- Authorizes the Federal Minister of Finance to borrow locally and abroad through issuing treasury transfers, bonds and local loans as well as borrowing from international financial institutions foreign banks to finance public expenditures approved by the Council of Ministers.

Proposal to amend the committee: Do not empower the Federal Minister of Finance with the authority to borrow locally and abroad by issuing treasury transfers, bonds and local loans as well as borrowing from international financial institutions and foreign banks to finance public expenditures provided that the allocation of foreign loan amounts in the second item of this article is for investment projects and regions development Continuing, taking into account that the priority of funding for the governorates that are less funded in previous years. Second: The borrowing ceiling covered in this law does not exceed (5) billion dollars from external borrowing and (10) one trillion dinars in local borrowing.
The committee proposed: Adding a new article: Continuing to borrow from abroad to finance development projects after the approval by the Council of Ministers of loans and memoranda of understanding ratified in the general budget laws for previous years. The committee’s proposal: adding a new article: All foreign loans, transfers, bonds and local loans are exempt from customs taxes according to the texts mentioned in the loan agreements. LINK