Economic: Parliament cannot change oil prices and the dollar in the 2021 budget

by **claud39** Sat Feb 06, 2021 6:37 pm

Economic: Parliament cannot change oil prices and the dollar in the 2021 budget

02/06/2021

Economic: Parliament cannot change oil prices and the dollar in the 2021 budget %D8%AA%D9%87%D8%B1%D9%8A%D8%A8-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-696x435

Information / Special ...

An economist, Bassem Antoine, confirmed, on Saturday, that the 2021 budget is moving towards a vote, and Parliament cannot amend the exchange rates of the dollar or sell oil.

Antoine said in a statement to the "information" agency, "It is not within the powers of the House of Representatives to change and amend exchange rates and oil prices, whether the prices are high or low, as these are the exclusive powers of the government."

He added, "After the central bank approved the new exchange rates in agreement with the government, the budget numbers are not subject to amendment and cannot be challenged by Parliament."

In a related context, Antoine emphasized, "The decrease or lack of central bank sales is a reflection of the changes that occurred in the exchange rates of the dollar, which pushed the merchant and the citizen to not risk and engage in new trade in light of the economic transformations of the Iraqi market."

https://www.almaalomah.com/2021/02/06/519200/

by **claud39** Sat Feb 06, 2021 6:40 pm

Iraq : Technical Assistance Report-Guarantees and Extra Budgetary Funds Management

Economic: Parliament cannot change oil prices and the dollar in the 2021 budget Imf-seal-shadow-sep2019-update-svg

Author/Editor:

[url=https://www.imf.org/en/Publications/Publications-By-Author?author=International+Monetary+Fund.+Fiscal+Affairs+Dept.&name=International Monetary Fund. Fiscal Affairs Dept.]International Monetary Fund. Fiscal Affairs Dept.[/url]

Publication Date:

February 5, 2021

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Iraq is substantially exposed to fiscal risks related to guarantees issued by the State, with a stock of guarantees related to foreign currency service payments and debt of USD 21.7 billion at end-June 2017 and a stock of domestic guarantees that remains to be fully assessed. In 2017, the Council of Ministers approved a set of procedures to tighten controls on the approval of State guarantees. Nevertheless, misreporting cases highlight the need to further strengthen capacities and institutional arrangements to effectively identify and monitor the fiscal implications of guarantees, including in the context of EBFs’ operations.

Series:

Country Report No. 2021/032

Frequency:

regular

ENGLISH
Publication Date:
February 5, 2021
ISBN/ISSN:
9781513568362/1934-7685
Stock No:
1IRQEA2021001
Format:
Paper
Pages:
38

Please address any questions about this title to publications@imf.org

https://www.imf.org/en/Publications/CR/Issues/2021/02/05/Iraq-Technical-Assistance-Report-Guarantees-and-Extra-Budgetary-Funds-Management-50063