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In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper

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In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper Empty In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper

Post by claud39 on Sun Nov 29, 2020 5:31 pm

In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper






  •  11/28/2020





In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper -1945



{Baghdad: Al Furat News} The Parliamentary Finance Committee called on Saturday, Prime Minister Mustafa Al-Kazemi to start implementing the provisions of the White Paper for reform.


According to a document issued by the head of the committee, Haitham al-Jubouri, obtained by {Al Furat News}, in which he confirmed that most of what was mentioned in the white paper falls within the powers of the executive authority, indicating that it must specify the timings necessary for implementation.
Ali al-Rubaie



In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper Aa821b4b98c39ba3c82016e243bca3f2







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In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper Empty Without amendments or reservations ... The green light to activate the "white paper" ... Iraqis face officially "harsh reforms"

Post by claud39 on Sun Nov 29, 2020 5:35 pm

[size=30]Without amendments or reservations ... The green light to activate the "white paper" ... Iraqis face officially "harsh reforms"[/size]




In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper 132520






Yes Iraq: Baghdad

Today, Saturday, the Parliamentary Finance Committee in the House of Representatives called on the government of Prime Minister Mustafa Al-Kazemi to start implementing the provisions of the White Paper.

And it included a document issued by the committee and directed to the Presidency of the Council of Ministers, that “Out of the solidarity responsibility of the Iraqi Council of Representatives, represented by the Parliamentary Finance Committee, we invite you to start implementing the terms of the white paper that you submitted to the Finance Committee.”

She added: "The fact that most of what was mentioned in it falls within the powers of the executive authority to determine the timelines necessary for implementation, and the institutions responsible for their implementation, so that performance can be monitored and evaluated."

And she continued: "We would like to send you some additional urgent reform measures proposed by the Finance Committee, which can be reflected positively in the short term to address the financial and economic crisis that the country is going through, hoping to work on it."




In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper 03858358-343d-489c-a9cf-3ee4da133e05








What will the paper achieve?

Earlier, the financial advisor to the Prime Minister Mazhar Muhammad Salih revealed that the White Paper would achieve:

 

First: Financial Sustainability:

a. The white paper aims to restore the balance of the public finances of the country in which the government holds wealth in general and the components of the gross domestic product at a rate of 13%, especially through the restructuring of the principles of distribution and assignment in the resources of the federal public budget in which spending constitutes about 40% of the GDP, which will take in the medium term And the distant change in its objectives is by redrawing the structure of expenditures and revenues, especially to address the sharp deviation in operational spending, which is of a consumerist nature, with distorted productivity, in exchange for the neglect of government investment spending, which is the most important in the country's future and prosperity, which caused a decline in economic growth over a little more than a decade. Therefore, the stalled government development activity has constituted an obstacle in the development of the infrastructure of Iraq and impeded the transition to the sustainable development goals, which often require annual GDP growth of not less than% (i.e. more than double the population growth or labor force growth).

B. There is a path taken by the White Paper to withdraw oil revenues and reallocate them towards its development principles, as they are capital assets that invest to maximize growth and income and stop those resources from slipping and dissipating into the phenomenon of operational spending in government salaries that accounted for% of GDP or are currently consuming those salaries, pensions and grants. All oil revenues, internal debts, and non-oil revenues, so that the budget and its resources become purely consumer oriented in an economy that lacks development. Adopting the paper towards the distant future will withdraw the rug from the attractiveness of the public office in favor of the investment budget by addressing consumer or current government spending, foremost of which is excessive salaries.

He concluded that, based on the foregoing, one of the first tasks of the White Paper is to make government salaries and pensions not exceed in the long term to 12.5 percent of GDP instead of 25 percent, which is currently swallowing, as, we noted, oil and non-oil revenues and internal public debt. For the most part, which is extremely dangerous in building Iraq's economic future and the succession of its human generations, and the creation of an important capital accumulation that establishes a broad national production base.

He continued, "However, this percentage and its decline does not mean reducing salaries and pensions. Rather, their escalation will be linked to the booming growth in the GDP itself, which will expand, diversify and increase its growth in the future if it adheres to the reform principles."

He pointed out that what the paper aims to do is expand employment opportunities in private activity, because there is an added annual work force estimated at 400,000 new job seekers and escalating annual growth numbers in the annual continuous job offer, and they must be absorbed into private activity and make the public job at the same time. More productive.

He indicated that it is noteworthy that the subsidy in the general budget still absorbs about 50% of its expenditures, which is distorted in its installations and in part it is directed to the government public sector and its facilities that have stopped working since 2008, with a number of workers approaching half a million workers, in addition to the support for services and prepared products The state has weak controls, and at the same time the rich and those with high and middle income and the poor benefit from it, and it is one of the highest levels of support in the budgets of the countries of the world. Therefore, a waste in spending must be addressed as stated in the paper, and limit the support to the poor and most vulnerable classes and reduce its percentage from The GDP ranges from 15% to 5%, provided that poverty rates are low, which exceeds 20% of the total population.

Second, economic sustainability, investment and employment: and economic diversification:

There is a big correlation between diversifying sources of revenue in the general budget, especially non-oil revenues, such as taxes, fees, and other government resources on the one hand, which all constitute today only 1% of the total revenues of the aforementioned budget and less than 3% of GDP, and the trend towards diversifying the national economy with its four pillars. Mission: agricultural, industrial, residential and service on the other hand. As the contribution of agriculture and manufacturing industry still does not contribute to this day by more than 1% of the annual national income of the country, and it includes about% of the Iraqi workforce, whether in the public or private sector, and this is what the paper focused on in the distributional aspects of the budget itself by virtue of the role of the budget in paying Economic sustainability, by directing government loans and public financing trends to activities that create the labor force and the diversified economy of the economy at the same time, instead of the increase in non-productive employment of the forces of the people working in the public service.

Or instead of engaging in investment projects that are not the duties of the government sector and causing waste in government investments that have become a burden on the country's economy through investment projects approved, transferred and currently suspended.

There is a Government Enterprises Cycle that widens and narrows according to the financial abundance in the budget, which opens the way towards commitment to dozens of projects whose priorities differ in times of financial abundance (some of which the private sector can promote as an investment project instead of the government) from the year 2009 until the year 2015 committed to more than 1000 governmental investment projects. It is noted that as soon as there is an annual financial deficit, funding starts to falter, and new priorities are taken in choosing which project to be stopped and any investment project that continues to work with it in light of the availability of government funding.

In other words, for the project to be sustainable, hundreds of other incomplete projects must be stopped due to the funding deficit, especially important municipal projects related to the lives of people at a time when energy projects (oil and electricity) are the only ones that have priority in financing even in times of financial deficit. Energy projects consistently account for more than 50% of allocations

Actual government annual investment. And when the funds are available in the budget again (within the project cycle) the problem of launching those stalled projects begins with difficult priorities to determine the costs again, as the cost of resuming the stalled projects increases with any financial gift in the budget under the influence of quotas and regional pressures so that they are sometimes chosen without justification or economic return to her.

The problem of the high cost of returning stalled projects arises due to what the implementing agency requires for the stalled project in order to continue adjusting costs under the section (spare parts cost, wastage of benefit and cost of extinction of previously implemented parts) and for the approved incomplete projects themselves.

It is noted that all these projects have been approved mainly without the availability of technical and economic feasibility studies, which leads to the loss of their cost center assessment.

There are, as we mentioned above, more than 1000 stalled projects whose cost exceeds $ 100 billion, and the investment budget does not have the ability to continue funding for it except to finance energy projects and some infrastructure-related projects that are linked to foreign financing under international cooperation agreements. Thus, the ability to operate stalled projects again has become, in numerical terms, only 4% of the total number of currently approved projects, which number more than 1000 projects, as we have noted.



In conclusion, we see in the white paper progress in the economic vision that seeks to form a legally binding economic constitution to be implemented in the country's future financial and economic life, if it is legislated, and this requires a strong political will in financial and economic reform.




https://yesiraq.com/%D8%AF%D9%88%D9%86-%D8%AA%D8%B9%D8%AF%D9%8A%D9%84%D8%A7%D8%AA-%D8%A3%D9%88-%D8%AA%D8%AD%D9%81%D8%B8%D8%A7%D8%AA-%D8%A7%D9%86%D8%B7%D9%84%D8%A7%D9%82-%D8%A7%D9%84%D8%B6%D9%88%D8%A1-%D8%A7%D9%84%D8%A3/
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In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper Empty The Financial Committee of the Iraqi Parliament sends its reform paper to the government

Post by claud39 on Sun Nov 29, 2020 5:41 pm

The Financial Committee of the Iraqi Parliament sends its reform paper to the government


November 29, 2020 





In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper 1024








Mubasher: The Parliamentary Finance Committee, headed by Representative Haitham Al-Jabouri, sent its reform paper on the financial and economic crisis to the government. This is based on the joint responsibility of the House of Representatives represented by the Finance Committee.

According to a statement issued by the Information Office of the Iraqi Council of Representatives, the reform financial committee paper included some urgent measures that would positively affect the economic crisis that the country is going through.

The committee called on the government to determine the timings and institutions that will implement the white paper for economic reform, since most of what is mentioned in it falls within the powers of the executive authority, so that the parliament can monitor and evaluate performance.




In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper En7Aw1MXEAEmcub?format=jpg&name=small





The Iraqi Prime Minister , Mustafa Al-Kazemi, said that the white reform paper presented by the government to the political forces is a draft solution to the chronic economic management crisis, complete dependence on oil and not to diversify sources of income.

Al-Kazemi stressed that addressing economic challenges is not an easy task, and that the current crisis is systematic, not related to this government and its procedures, and it needs real and radical reform and long-term plans to overcome it, stressing the need for integration in work between the authorities to achieve what we seek.



The Iraqi Finance Minister , Ali Allawi, said that the reform paper boldly identified the most important productive, economic and financial sectors, expanding the field of investment, and upgrading the private sector in the near term to advance it quickly, in support of improving income and creating decent job opportunities, which would reduce unemployment and poverty rates in society.

And the Iraqi Council of Representatives voted, on November 12, 2020, on the financing of the fiscal deficit .



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In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper Empty Parliamentary committee calls on the government to start implementing the White Paper and warns of a "catastrophic matter"

Post by claud39 on Sun Nov 29, 2020 6:48 pm

[size=35]Parliamentary committee calls on the government to start implementing the White Paper and warns of a "catastrophic matter"[/size]


2020-11-29



[size=35]In the document ... Parliamentary Finance calls on Al-Kazemi to start implementing the provisions of the White Paper Doc-P-365551-637422394535759347
[/size]




On Sunday, the head of the parliamentary committee to follow up the government program, MP Hazem al-Khalidi, presented several proposals to maximize non-oil imports, and while he warned that the continued movement on the cash reserves in the Central Bank was a "catastrophic matter," he called on the government to start implementing the White Paper.



Al-Khalidi said in an interview with Al-Sumaria News, "The proposals submitted by the Finance Committee are consistent with the reforms that we talked about at the time of the discussion of the Fiscal Deficit Financing Law, which are general and necessary reforms looking to maximize non-oil revenues for the coming period," noting that "the previous period did not witness." Any discussion or adoption by governments of the issue of boosting non-oil imports and they relied completely on oil, which led to a major defect that caused employees' salaries to be delayed.





He added, "Among the doors to maximizing imports are the border crossings in all governorates, including a region Kurdistan Which in the event that it is automated and controlled electronically, it will enhance state revenues that may reach six billion dollars annually, in addition to controlling the currency auction, which will boost the state’s imports by more than five billion dollars, and the mobile phone file and fourth generation licenses may be an important supporter of non-oil revenues. , Pointing out that "there are pressures that may be exerted on the government from some political parties, but this does not mean the government's inability to implement reforms and maximize non-oil revenues as well as fight corruption and strengthen the country's financial position."





He pointed out that "moving on the cash reserve in the Central Bank is a catastrophic matter in case it continues, and the government must implement its ministerial program in addition to expediting the completion of the budget for the next year and sending it to the House of Representatives because it is long overdue, given that the law obliged the government to send it a month and a half ago to Parliament".

Al-Khalidi stressed, "The government must start implementing the white paper it announced, especially since most of its doors are from the authority of the executive authority and do not need parliamentary legislation, but unfortunately, until this moment, we have not found any actual government action to implement it."





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