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Economic: Parliament cannot change oil prices and the dollar in the 2021 budget
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Economic: Parliament cannot change oil prices and the dollar in the 2021 budget
Economic: Parliament cannot change oil prices and the dollar in the 2021 budget
02/06/2021
02/06/2021
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/
claud39- Elite Member
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Join date : 2018-11-04
Iraq : Technical Assistance Report-Guarantees and Extra Budgetary Funds Management
Iraq : Technical Assistance Report-Guarantees and Extra Budgetary Funds Management
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
claud39- Elite Member
- Posts : 18423
Join date : 2018-11-04
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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