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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The budget of 2019 kills the agreement with the International Monetary Fund

    Rocky
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    • Post n°1

    The budget of 2019 kills the agreement with the International Monetary Fund Empty The budget of 2019 kills the agreement with the International Monetary Fund

    Post by Rocky Fri 08 Feb 2019, 2:52 am

    [size=36]The budget of 2019 kills the agreement with the International Monetary Fund[/size]

    11:48 - 08/02/2019

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    [size=22]BAGHDAD -         [/size]
    The Iraqi parliament voted on January 23 on the draft budget bill of 2019, amid objections from the southern provinces. 
    The budget is estimated at 133.1 trillion dinars (112.6 billion dollars), the third largest budget in the history of Iraq, after the budgets of 2013 and 2014. With a clear difference to the current budget, compared to the past four years, spending increased by 27.8 percent, which means ending the era of austerity policy approved by Iraq until 2021 in agreement with the IMF and the World Bank.
    When comparing the current year's budget with 2018, it relied on the export of 3.880 million barrels per day, less than the year 2018 by 8,000 barrels per day, with the price of a barrel of oil $ 10 from $ 46 to $ 56. The ratio of internal and external debt increased to 30.87 percent, reaching 10.7 trillion dinars (9 billion dollars).
    Oil revenues accounted for 88.8 percent of total revenues, while tax revenues and fees fell to 6.8 trillion dinars ($ 5.7 billion), after last year's 9.2 trillion dinars ($ 7.7 billion), indicating the government's lack of commitment to the credit readiness agreement With the International Monetary Fund, which signed to reform the economy, including stop employment and increase the types of taxes on citizens and companies, but this budget will see an increase in salaries of employees by 24.7 percent, amounting to 43.4 trillion dinars (36.7 billion dollars).
    An official source in the Ministry of Finance, who preferred not to be named, that "the parliament did not discuss the Ministry of Finance in the adoption of the draft budget law, he deleted the articles and modify them without reference to the Ministries of Finance and Planning," and said: "The Iraqi government will challenge the materials that Added by the parliament or made some amendments to the judiciary. " 
    The province of Kurdistan in the budget in 2019 concessions not received since 2013, as the salaries of its employees with the reduction of oil quantities from 550 thousand barrels per day to 250 thousand barrels, while receiving part of the ruling expenses and investment loans.
    The Kurdish representative in the Finance Committee responsible for discussion of the budget in parliament, Ahmad Hama: "The Kurds have some observations on the budget in 2019, but it was classified Kurdistan region by securing salaries of employees and increase the share to 13.93 percent of the total budget, after it was 12.67 in Percent and get $ 2 billion in investment loans. " 
    He pointed out that "the budget of 2019 included resolving the outstanding problems with Baghdad during the previous years, which means the start of a new page with Baghdad," pointing out that "480 thousand barrels of production in the Kurdistan region of oil will be the share of Baghdad, including 250 thousand barrels, To 150 thousand barrels go to the daily consumption of oil in the region, while 80 thousand barrels will benefit the region in export. "
    The government allocated one trillion dinars ($ 846 million) for the petrodollar project, an amount earmarked for oil-producing and affected provinces and for the regions most affected by oil production and liquidation. Basra's share was 69.2 percent, followed by Kirkuk at 6.3 percent. And then, Wasit by 4 percent, with no allocation of any amount to the Kurdistan region. With these funds, local governments have the right to buy electricity and provide services or treat patients outside Iraq. 
    But this did not satisfy the southern provinces. Local governments in southern Iraq rejected the 2019 budget because they were unable to complete the dilapidated projects and confront the angry public, which has repeatedly tried to drop them over the past months due to the lack of basic services such as potable water, electricity and others.
    Basra provincial council spokesman Ahmed al-Sulaiti said: "The budget of 2019, confiscated the rights of Basra province and granted less than the constitutional entitlement, especially as Iraq's economy depends on them a very large." 
    He pointed out that "the big problem that the law of the financial budget so far has not been distributed to members of Parliament or is posted on the site of Parliament," and said: "When we talk with some members of Parliament, they do not know what they voted, and adding materials and delete them in the budget of 2019 Took place in a deliberate and random way. " 
    He stressed that "Iraq, for the first time, get chaos by approving the financial budget, which showed the indifference of parliament to the capabilities of the Iraqi people." He pointed out that "Basra province will challenge the budget law and will demand its rights before the Iraqi judiciary after the publication of the law in the official newspaper.
    Iraq is one of the countries that formulate its budget to allow corruption to pass through. It received 18 out of 100 votes in Transparency International's Corruption Perceptions Report, while not fully implementing the budget. 
    The irony here is that Iraqi Prime Minister Adel Abdul Mahdi, whose economic background was basically economic goals for reform, but his government is now repeating the same mistakes that occurred in 2012 and 2013 through increased random spending, while not developing the productive sectors.
    This while the preparation of the financial budget must be in accordance with economic objectives, not political objectives, if the country is suffering today from crises in agriculture, industry, education, health and electricity. For example, health allocations in this year's budget are only 2.4%, while agriculture does not exceed 1% and education 3.6%. 
    Finally, it seems that the budget crisis may extend to another three months, for the government's desire to challenge it after additions and deletions by parliament without reference to it. As it is linked to the problems that get rid of the conservatives in southern Iraq and named because of the high share of financial and try to dominate it from some political blocs.


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    Rocky
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    • Post n°2

    The budget of 2019 kills the agreement with the International Monetary Fund Empty Experts: The budget of 2019 eliminates the agreement with the International Monetary Fund

    Post by Rocky Fri 08 Feb 2019, 6:19 am

    Experts: The budget of 2019 eliminates the agreement with the International Monetary Fund

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    The new budget of 133.1 trillion dinars ($ 112.6 billion) is the third largest budget in the nation's history, after the budgets of 2013 and 2014, economists said.
    With a clear difference to the current budget, compared to the past four years, spending increased by 27.8 percent, which means ending the era of austerity policy approved by [You must be registered and logged in to see this link.] until 2021 in agreement with the IMF and the World Bank. 
    When comparing the current year's budget with 2018, it relied on the export of 3.880 million barrels per day, less than the year 2018 by 8,000 barrels per day, with the price of a barrel of oil $ 10 from $ 46 to $ 56.
    The ratio of internal and external debt increased to 30.87 percent, reaching 10.7 trillion dinars (9 billion dollars). 
    Oil revenues accounted for 88.8 percent of total revenues, while tax revenues and fees fell to 6.8 trillion dinars ($ 5.7 billion), after last year's 9.2 trillion dinars ($ 7.7 billion), indicating the government's lack of commitment to the credit readiness agreement With the International Monetary Fund, which signed to reform the economy, including stop employment and increase the types of taxes on citizens and companies, but this budget will see an increase in salaries of employees by 24.7 percent, amounting to 43.4 trillion dinars (36.7 billion dollars). 
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    weslin3
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    • Post n°3

    The budget of 2019 kills the agreement with the International Monetary Fund Empty Re: The budget of 2019 kills the agreement with the International Monetary Fund

    Post by weslin3 Fri 08 Feb 2019, 11:53 am

    Uh oh!!! Don't know what to think about this... no
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    • Post n°4

    The budget of 2019 kills the agreement with the International Monetary Fund Empty Re: The budget of 2019 kills the agreement with the International Monetary Fund

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