Parliamentary Finance: The budget is still in the cabinet, and we have not received an official copy
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Parliamentary Finance: The budget is still in the cabinet, and we have not received an official copy
by claud39 Thu Dec 17, 2020 12:12 pm
Parliamentary Finance: The budget is still in the cabinet, and we have not received an official copy
12/17/2020
12/17/2020
Economy News - Baghdad
The Parliamentary Finance Committee confirmed, on Thursday, that the draft budget law is still in the Council of Ministers, while noting that the leaked version of the budget is "unofficial."
Committee member Hoshyar Abdullah said, in a statement, seen by Al-Iktissad News, that "this leaked version of the 2021 budget is unofficial and not approved."
He added, "The budget is still in the cabinet that has not been discussed, and in the Finance Committee and Parliament we have not officially received any copy of it," explaining that "these leaks are part of the government's confusion and it bears it and bears the confusion of the market, the currency price and the economy."
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Finance: The general budget will be subject to amendment in a special session of the Council of Ministers next Saturday
by claud39 Thu Dec 17, 2020 12:16 pm
[size=36]Finance: The general budget will be subject to amendment in a special session of the Council of Ministers next Saturday[/size]
[size=36]2020/12/17
[/size]
[size=36]
[/size]
Official statement…..
Today, Thursday, December 17, 2020, the Ministry of Finance expressed its resentment and deep regret at the unauthorized publication of the draft budget for 2021.
Budget preparation is a complex technical process that involves many ministries, government institutions and international agencies concerned with the budget over a long period of time and cannot be fully understood without referring to the data, policies and strategies that are based on it, including the government white paper.
Releasing it prematurely to the media is a largely irresponsible act, and this may precede the possibility of ministers to comment impartially on the draft budget and amend it at a special budget session scheduled to be held next Saturday.
Therefore, we ask everyone not to heed the interesting statements related to the budget that may arise during the next two days.
The ministry stated in a statement that the Council of Ministers will discuss the budget in detail, which is the appropriate place to present its recommendations regarding it. Then, after approval, the budget is sent by the Council of Ministers, to the House of Representatives. This is the correct approach and framework for discussion and deliberation regarding the budget, not social media, which may be full of inaccurate news.
Media Office of the Ministry of Finance
December 17, 2020
https://www.alrasheedmedia.com/2020/12/17/298936/
[size=36]2020/12/17
[/size]
[size=36]
[/size]
Official statement…..
Today, Thursday, December 17, 2020, the Ministry of Finance expressed its resentment and deep regret at the unauthorized publication of the draft budget for 2021.
Budget preparation is a complex technical process that involves many ministries, government institutions and international agencies concerned with the budget over a long period of time and cannot be fully understood without referring to the data, policies and strategies that are based on it, including the government white paper.
Releasing it prematurely to the media is a largely irresponsible act, and this may precede the possibility of ministers to comment impartially on the draft budget and amend it at a special budget session scheduled to be held next Saturday.
Therefore, we ask everyone not to heed the interesting statements related to the budget that may arise during the next two days.
The ministry stated in a statement that the Council of Ministers will discuss the budget in detail, which is the appropriate place to present its recommendations regarding it. Then, after approval, the budget is sent by the Council of Ministers, to the House of Representatives. This is the correct approach and framework for discussion and deliberation regarding the budget, not social media, which may be full of inaccurate news.
Media Office of the Ministry of Finance
December 17, 2020
https://www.alrasheedmedia.com/2020/12/17/298936/
claud39- VIP NewsHound
- Posts : 18367
Join date : 2018-11-04 -
A two-point proposal to address the financial crisis without going to change the exchange rate
by claud39 Thu Dec 17, 2020 1:50 pm
A two-point proposal to address the financial crisis without going to change the exchange rate
953 Economie 2020/12/16 21:06
Baghdad Today - Follow-up
[size=19]Economic expert Safwan Qusay revealed, on Wednesday (12-16-2020), that the increase in the exchange rate of the dollar was proposed to the Ministry of Finance to solve the crisis in Iraq, while indicating that the government must determine its position on that.[/size]
[size=19]"We do not like to use the dollar exchange rate as a tool to save the government from the financial crisis, and on the contrary, this will lead to the collapse of the government and many layers of society, and it will also lead to a loss of confidence in the Iraqi dinar," Qusay said in a televised interview.[/size]
He added, [size=19]"Iraq is not going through financial hardship, and it is assumed that in 2021 oil prices will rise and the government has crossed the most dangerous juncture during the year 2020, and other ways must be considered to solve the financial crisis, including working with a proposal to return money from the corrupt and maximize revenues and other things not by manipulating the exchange rate." .[/size]
And Qusai added, "Confronting the corrupt is a difficult process, but certainly when the government is effective and has security forces that can eliminate the mafias that have seized public money, and there will be attribution for this performance."
He pointed out that "the government can maximize agricultural revenues and not rely solely on oil, and there must be clarity between the government and the citizen and not to follow steps that concern citizens."
Qusay said, [size=24]"The Central Bank must correct the path of the dollar’s exchange rate during the coming hours and adjust it in order not to harm citizens," indicating that "there are proposals put forward before the Ministry of Finance to solve the financial crisis, including increasing the dollar exchange rate, but it cannot be approved before." The government because it harms the Iraqi dinar, and the government must announce its position on that. "[/size]
Today, Wednesday, the exchange rate of the dollar in Iraq recorded a new high in the local markets.
The approximate price of selling the dollar in the local markets reached 129,000 thousand for every 100 dollars, while the purchase price of 100 dollars reached 128,000 thousand.
A member of the Parliamentary Economic and Investment Committee, MP Hamid Al-Mousawi, revealed, on Tuesday, the reasons for the high exchange rate of the dollar against the dinar in the local markets, while noting that the monetary reserves at the Central Bank amount to 46 billion dollars.
[size=19]Mousawi said in a televised interview, "The high exchange rate of the dollar against the Iraqi dinar is a matter of concern to the citizen as well as to the legislative authority," noting that "Parliament is unable to interfere with the policy of the Central Bank."[/size]
He added, "The statements of the Minister of Finance regarding the change of the exchange rate in the white paper led to an increase in the price of the dollar in the local markets.
He pointed out that "the cash reserve at the Central Bank during the war against ISIS amounted to $ 65 billion, and $ 5 billion was withdrawn from it by the Al-Abadi government, indicating that the current cash reserve reached $ 46 billion."
He continued, "Oil sales from 2003 to 2018 amounted to 970 billion dollars, pointing out that the banks entering the currency auction are linked to well-known political parties."
https://baghdadtoday.news/ar/news/140175/A
953 Economie 2020/12/16 21:06
Baghdad Today - Follow-up
[size=19]Economic expert Safwan Qusay revealed, on Wednesday (12-16-2020), that the increase in the exchange rate of the dollar was proposed to the Ministry of Finance to solve the crisis in Iraq, while indicating that the government must determine its position on that.[/size]
[size=19]"We do not like to use the dollar exchange rate as a tool to save the government from the financial crisis, and on the contrary, this will lead to the collapse of the government and many layers of society, and it will also lead to a loss of confidence in the Iraqi dinar," Qusay said in a televised interview.[/size]
He added, [size=19]"Iraq is not going through financial hardship, and it is assumed that in 2021 oil prices will rise and the government has crossed the most dangerous juncture during the year 2020, and other ways must be considered to solve the financial crisis, including working with a proposal to return money from the corrupt and maximize revenues and other things not by manipulating the exchange rate." .[/size]
And Qusai added, "Confronting the corrupt is a difficult process, but certainly when the government is effective and has security forces that can eliminate the mafias that have seized public money, and there will be attribution for this performance."
He pointed out that "the government can maximize agricultural revenues and not rely solely on oil, and there must be clarity between the government and the citizen and not to follow steps that concern citizens."
Qusay said, [size=24]"The Central Bank must correct the path of the dollar’s exchange rate during the coming hours and adjust it in order not to harm citizens," indicating that "there are proposals put forward before the Ministry of Finance to solve the financial crisis, including increasing the dollar exchange rate, but it cannot be approved before." The government because it harms the Iraqi dinar, and the government must announce its position on that. "[/size]
Today, Wednesday, the exchange rate of the dollar in Iraq recorded a new high in the local markets.
The approximate price of selling the dollar in the local markets reached 129,000 thousand for every 100 dollars, while the purchase price of 100 dollars reached 128,000 thousand.
A member of the Parliamentary Economic and Investment Committee, MP Hamid Al-Mousawi, revealed, on Tuesday, the reasons for the high exchange rate of the dollar against the dinar in the local markets, while noting that the monetary reserves at the Central Bank amount to 46 billion dollars.
[size=19]Mousawi said in a televised interview, "The high exchange rate of the dollar against the Iraqi dinar is a matter of concern to the citizen as well as to the legislative authority," noting that "Parliament is unable to interfere with the policy of the Central Bank."[/size]
He added, "The statements of the Minister of Finance regarding the change of the exchange rate in the white paper led to an increase in the price of the dollar in the local markets.
He pointed out that "the cash reserve at the Central Bank during the war against ISIS amounted to $ 65 billion, and $ 5 billion was withdrawn from it by the Al-Abadi government, indicating that the current cash reserve reached $ 46 billion."
He continued, "Oil sales from 2003 to 2018 amounted to 970 billion dollars, pointing out that the banks entering the currency auction are linked to well-known political parties."
https://baghdadtoday.news/ar/news/140175/A
claud39- VIP NewsHound
- Posts : 18367
Join date : 2018-11-04 -
“Governmental resentment” at the “2021 budget leakage”: it will be subject to amendment within two days!
by claud39 Thu Dec 17, 2020 1:56 pm
[size=30]“Governmental resentment” at the “2021 budget leakage”: it will be subject to amendment within two days![/size]
2020-12-17
Yes Iraq - Baghdad
Today, Thursday, December 17, 2020, the Ministry of Finance expressed its resentment and deep regret over the unauthorized publication of the draft budget for 2021.
A statement by the ministry stated: The preparation of the budget is a complex technical process that includes many ministries, government institutions and international agencies concerned with the budget over a long period of time and cannot be fully understood without referring to the data, policies and strategies on which it is based, including the government white paper.
He added: Releasing it prematurely to the media is an irresponsible act to a large extent, and this may precede the possibility of ministers in commenting neutrally on the draft budget and amending it in a special budget session scheduled to be held next Saturday.
He continued: Therefore, we ask everyone not to pay heed to the exciting statements related to the budget that may arise during the next two days.
The ministry stated in a statement that the Council of Ministers will discuss the budget in detail, which is the appropriate place to present its recommendations regarding it. Then, after approval, the budget is sent by the Council of Ministers, to the House of Representatives. This is the correct approach and framework for discussion and deliberation regarding the budget, not social media, which may be full of inaccurate news.
On Thursday (December 17, 2020), the Yes Iraq platform obtained a “preliminary copy” of the draft federal budget bill for the year 2021, which included setting the dollar exchange rate at 1450, and reducing employee allocations.
The bill included setting the exchange rate of the dollar on the basis of 1450, equivalent to 145,000 dollars per 100 dollars, and restricting all actually realized revenues as final revenues to the state treasury account.
The budget stated that the number of state employees is 3.25 million, including (682 thousand employees in the Kurdistan region), salaries 41.5 trillion dinars, other salaries 6 trillion, retirement 20 trillion, social security 9.6 trillion, interest on debt loans 4,6 Trillions, offshore loan payments: 6.8 trillion.
The project also included the reduction of all allocations granted to employees of all government departments financed centrally and independently, according to the percentages specified against each of them and granted to them according to effective laws and decisions of the Council of Ministers and came as follows:
(Risk allowances 50%, hospitality 20%, exceptional 20%, sustenance 33%, certificate 50%, lump sum, 40%, special 60%, university service 60%).
The bill also stipulated an increase in the price of fuel (gasoline) from 450 dinars per liter to 540 dinars per liter.
The budget authorizes the Minister of Finance to fill the actual deficit in the budget according to the amounts indicated in the sources mentioned below:
1- Issuing treasury transfers,
2- Issuing national bonds to the public,
3- Issuing bonds and treasury transfers to government banks, to be debited with the Central Bank of Iraq,
4- Loans from commercial banks,
5- Issuing foreign bonds,
6- Borrowing from international financial institutions,
7- Borrowing with the guarantee of international export guarantee institutions.
The budget indicates that all loans, bonds, transfers and project contracts financed by loans will be exempt from taxes and customs fees for ongoing and new projects, including the loan granted by the World Bank to the Ministry of Finance for the PFM contract project for the years 2016, 2017, 2018 and 2019.
The 2021 budget obliged federal ministries and entities not associated with a ministry and all governorates to cover their needs of local products, including private sector products that have an added value of more than (20%).
The draft budget concluded that the Council of Ministers may not issue any decisions that include granting an advance to any ministry or entity not linked to a ministry without having allocations for it in the general budget approved during the fiscal year.
The project included the suspension of all cabinet decisions and laws in force that allow the centralized state departments to dispose of the revenues collected through them for the purposes of operating expenses, and their revenues are transferred as final revenues for the account of the state's public treasury, including the state's public treasury's share of the profits of public companies and self-financed bodies and departments.
The financial deficit in the budget reached (58260763114) one thousand dinars (fifty-eight trillion two hundred sixty billion seven hundred and sixty-three million one hundred and fourteen thousand dinars), and in the case of excluding all arrears, indebtedness and foreign and domestic loans that will finance investment projects amounting to (23229017817) one thousand dinars (three Twenty trillion two hundred twenty-nine billion and seventeen million eight hundred and seventeen thousand dinars).
The indebtedness represented by the internal and external debt installments reached (14761959590) one thousand dinars (fourteen trillion seven hundred and sixty-one billion nine hundred and fifty-nine million five hundred and ninety thousand dinars).
To view the preliminary version of the 2021 budget, click here
https://drive.google.com/file/d/1_ysyXWgwVxSLeNzp4dK7hkaLA74Ja2wF/edit
https://yesiraq.com/%D8%A7%D9%85%D8%AA%D8%B9%D8%A7%D8%B6-%D8%AD%D9%83%D9%88%D9%85%D9%8A-%D9%85%D9%86-%D8%AA%D8%B3%D8%B1%D9%8A%D8%A8-%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-2021-%D8%B3%D8%AA%D8%AE%D8%B6%D8%B9-%D9%84/
2020-12-17
Yes Iraq - Baghdad
Today, Thursday, December 17, 2020, the Ministry of Finance expressed its resentment and deep regret over the unauthorized publication of the draft budget for 2021.
A statement by the ministry stated: The preparation of the budget is a complex technical process that includes many ministries, government institutions and international agencies concerned with the budget over a long period of time and cannot be fully understood without referring to the data, policies and strategies on which it is based, including the government white paper.
He added: Releasing it prematurely to the media is an irresponsible act to a large extent, and this may precede the possibility of ministers in commenting neutrally on the draft budget and amending it in a special budget session scheduled to be held next Saturday.
He continued: Therefore, we ask everyone not to pay heed to the exciting statements related to the budget that may arise during the next two days.
The ministry stated in a statement that the Council of Ministers will discuss the budget in detail, which is the appropriate place to present its recommendations regarding it. Then, after approval, the budget is sent by the Council of Ministers, to the House of Representatives. This is the correct approach and framework for discussion and deliberation regarding the budget, not social media, which may be full of inaccurate news.
On Thursday (December 17, 2020), the Yes Iraq platform obtained a “preliminary copy” of the draft federal budget bill for the year 2021, which included setting the dollar exchange rate at 1450, and reducing employee allocations.
The bill included setting the exchange rate of the dollar on the basis of 1450, equivalent to 145,000 dollars per 100 dollars, and restricting all actually realized revenues as final revenues to the state treasury account.
The budget stated that the number of state employees is 3.25 million, including (682 thousand employees in the Kurdistan region), salaries 41.5 trillion dinars, other salaries 6 trillion, retirement 20 trillion, social security 9.6 trillion, interest on debt loans 4,6 Trillions, offshore loan payments: 6.8 trillion.
The project also included the reduction of all allocations granted to employees of all government departments financed centrally and independently, according to the percentages specified against each of them and granted to them according to effective laws and decisions of the Council of Ministers and came as follows:
(Risk allowances 50%, hospitality 20%, exceptional 20%, sustenance 33%, certificate 50%, lump sum, 40%, special 60%, university service 60%).
The bill also stipulated an increase in the price of fuel (gasoline) from 450 dinars per liter to 540 dinars per liter.
The budget authorizes the Minister of Finance to fill the actual deficit in the budget according to the amounts indicated in the sources mentioned below:
1- Issuing treasury transfers,
2- Issuing national bonds to the public,
3- Issuing bonds and treasury transfers to government banks, to be debited with the Central Bank of Iraq,
4- Loans from commercial banks,
5- Issuing foreign bonds,
6- Borrowing from international financial institutions,
7- Borrowing with the guarantee of international export guarantee institutions.
The budget indicates that all loans, bonds, transfers and project contracts financed by loans will be exempt from taxes and customs fees for ongoing and new projects, including the loan granted by the World Bank to the Ministry of Finance for the PFM contract project for the years 2016, 2017, 2018 and 2019.
The 2021 budget obliged federal ministries and entities not associated with a ministry and all governorates to cover their needs of local products, including private sector products that have an added value of more than (20%).
The draft budget concluded that the Council of Ministers may not issue any decisions that include granting an advance to any ministry or entity not linked to a ministry without having allocations for it in the general budget approved during the fiscal year.
The project included the suspension of all cabinet decisions and laws in force that allow the centralized state departments to dispose of the revenues collected through them for the purposes of operating expenses, and their revenues are transferred as final revenues for the account of the state's public treasury, including the state's public treasury's share of the profits of public companies and self-financed bodies and departments.
The financial deficit in the budget reached (58260763114) one thousand dinars (fifty-eight trillion two hundred sixty billion seven hundred and sixty-three million one hundred and fourteen thousand dinars), and in the case of excluding all arrears, indebtedness and foreign and domestic loans that will finance investment projects amounting to (23229017817) one thousand dinars (three Twenty trillion two hundred twenty-nine billion and seventeen million eight hundred and seventeen thousand dinars).
The indebtedness represented by the internal and external debt installments reached (14761959590) one thousand dinars (fourteen trillion seven hundred and sixty-one billion nine hundred and fifty-nine million five hundred and ninety thousand dinars).
To view the preliminary version of the 2021 budget, click here
https://drive.google.com/file/d/1_ysyXWgwVxSLeNzp4dK7hkaLA74Ja2wF/edit
https://yesiraq.com/%D8%A7%D9%85%D8%AA%D8%B9%D8%A7%D8%B6-%D8%AD%D9%83%D9%88%D9%85%D9%8A-%D9%85%D9%86-%D8%AA%D8%B3%D8%B1%D9%8A%D8%A8-%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-2021-%D8%B3%D8%AA%D8%AE%D8%B6%D8%B9-%D9%84/
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