Home
[size=17]Urgent The Minister of Finance reveals important details of the 2022 budget
[/size]
[/size]
- Time: 08/06/2021 13:08:09
- Reading: 1,820 times
[You must be registered and logged in to see this image.]
{Economic: Al Furat News} Finance Minister Ali Allawi announced that the 2022 budget, which the ministry began preparing a few days ago, will have a reform dimension, as it "differs from previous budgets" and reflects "the reality of Iraq's obligations," according to "AFP."
The useful summary.. In important news, you can find it in the Euphrates News channel on the telegram.. [You must be registered and logged in to see this link.]
Allawi made it clear in statements to a group of journalists that the ministry will seek to submit this new budget to Parliament before the early parliamentary elections scheduled for October, adding that it will be a "reform budget, but it may be politically difficult."
He said that the ministry "tried in the previous budget to do a similar thing", as it "presented the budget in a way that shows officials the size of Iraq's real obligations without paying them in arrears corners, so the number was large and was not politically acceptable, so it was amended and the budget was issued" in its current form.
And Minister Allawi hinted that it is likely that it will be difficult to pass the new budget due to the high value of the deficit in it, as happened in the previous budget.
In the proposed 2021 budget bill, which the government submitted to Parliament, the value of the deficit was estimated at 49 billion dollars. However, the deputies made up the difference by canceling debts and dues from the state in exchange for energy sources from the account, especially dues for Iranian gas and energy, and other payments for infrastructure.
The value of the deficit in the 2021 budget, as approved by Parliament, amounted to 19.8 billion dollars, compared to 23.1 billion dollars in 2019, knowing that Iraq did not approve the 2020 budget due to political tension.
The total value of revenues in the 2021 budget amounted to about 69.9 billion dollars, calculated based on the export of crude oil on the basis of a price of 45 dollars per barrel, and an export rate of three million and 250 thousand barrels per day. As for the value of the 2021 budget, it amounted to $89.7 billion, about 30% lower than the last budget approved in 2019.
The minister explained that the price of a barrel in the new budget will be 50 dollars, which is an adjustable figure. However, the value of a barrel of oil in the market is currently much higher and exceeds sixty dollars.
Iraq, the second largest oil producer in OPEC, is going through its worst economic crisis. The poverty rate in the country has doubled in 2020, and 40% of the population of 40 million is considered poor, according to the World Bank, while the Iraqi dinar has lost 25% of its value.
Corruption, which has cost Iraq twice as much as its gross domestic product, or more than $450 billion, is the main concern of Iraqis who suffer from a lack of electricity, hospitals and schools.
However, the minister said that Iraq's financial situation has improved this year due to "the rise in the price of oil and the change in the exchange rate of the dinar."
Meanwhile, Iraq is negotiating with the International Monetary Fund on a loan amounting to between 3 to 4 billion dollars, as the minister explained, hoping to reach an agreement with the Fund by the end of the year.
The Minister of Finance explained that this “borrowing is of a monetary nature and gives credibility to the reforms” that the ministry wants to implement, and that “the end of it depends on our current situation and the 2022 budget if we are able to present it to Parliament before the parliamentary elections.”
[You must be registered and logged in to see this link.]
{Economic: Al Furat News} Finance Minister Ali Allawi announced that the 2022 budget, which the ministry began preparing a few days ago, will have a reform dimension, as it "differs from previous budgets" and reflects "the reality of Iraq's obligations," according to "AFP."
The useful summary.. In important news, you can find it in the Euphrates News channel on the telegram.. [You must be registered and logged in to see this link.]
Allawi made it clear in statements to a group of journalists that the ministry will seek to submit this new budget to Parliament before the early parliamentary elections scheduled for October, adding that it will be a "reform budget, but it may be politically difficult."
He said that the ministry "tried in the previous budget to do a similar thing", as it "presented the budget in a way that shows officials the size of Iraq's real obligations without paying them in arrears corners, so the number was large and was not politically acceptable, so it was amended and the budget was issued" in its current form.
And Minister Allawi hinted that it is likely that it will be difficult to pass the new budget due to the high value of the deficit in it, as happened in the previous budget.
In the proposed 2021 budget bill, which the government submitted to Parliament, the value of the deficit was estimated at 49 billion dollars. However, the deputies made up the difference by canceling debts and dues from the state in exchange for energy sources from the account, especially dues for Iranian gas and energy, and other payments for infrastructure.
The value of the deficit in the 2021 budget, as approved by Parliament, amounted to 19.8 billion dollars, compared to 23.1 billion dollars in 2019, knowing that Iraq did not approve the 2020 budget due to political tension.
The total value of revenues in the 2021 budget amounted to about 69.9 billion dollars, calculated based on the export of crude oil on the basis of a price of 45 dollars per barrel, and an export rate of three million and 250 thousand barrels per day. As for the value of the 2021 budget, it amounted to $89.7 billion, about 30% lower than the last budget approved in 2019.
The minister explained that the price of a barrel in the new budget will be 50 dollars, which is an adjustable figure. However, the value of a barrel of oil in the market is currently much higher and exceeds sixty dollars.
Iraq, the second largest oil producer in OPEC, is going through its worst economic crisis. The poverty rate in the country has doubled in 2020, and 40% of the population of 40 million is considered poor, according to the World Bank, while the Iraqi dinar has lost 25% of its value.
Corruption, which has cost Iraq twice as much as its gross domestic product, or more than $450 billion, is the main concern of Iraqis who suffer from a lack of electricity, hospitals and schools.
However, the minister said that Iraq's financial situation has improved this year due to "the rise in the price of oil and the change in the exchange rate of the dinar."
Meanwhile, Iraq is negotiating with the International Monetary Fund on a loan amounting to between 3 to 4 billion dollars, as the minister explained, hoping to reach an agreement with the Fund by the end of the year.
The Minister of Finance explained that this “borrowing is of a monetary nature and gives credibility to the reforms” that the ministry wants to implement, and that “the end of it depends on our current situation and the 2022 budget if we are able to present it to Parliament before the parliamentary elections.”
[You must be registered and logged in to see this link.]
» Some "Sunday News" Posted by Samson at KTFA 10-2-2022
» Al-Sadr: Freedom from the corrupt is the true national day of Iraq
» 90% of Iraqis spend money to buy healthy water
» A parliamentarian calls for the implementation of Article 340 of the Penal Code against Al-Kazemi
» Political and security developments on the table of the Al-Kazemi and Nechirvan Barzani talks in Erb
» Canceling the electronic reservation of the national card, except for two governorates
» The Mass Graves Affairs and Protection Department agrees with UNITAD to open a group of mass graves,
» Kurdistan Resources: The Water Conference will have a very positive impact (photos)
» Tehran considers the bombing of Kurdistan Region "within the legal frameworks"
» “We will sue him.” Al-Kazemi’s government responds to a deputy publishing “misleading” information t
» Al-Kazemi and Masrour Barzani discuss "overcoming obstacles" in the disputes of Baghdad and the regi
» Al-Rafidain warns those who are late in paying loans Basmaya: We have procedures
» Eight oil tankers docked at the berths of Khor Al Zubair port
» Launching social assistance for one million and 390 thousand Iraqi families
» Parliamentary action regarding the decision to raise the price of gas supplied to cars
» Center calls for the inclusion of borrowers in the Consumer Protection Law
» Economic website: Iraq loses 58% of electricity production due to distribution problems
» Al-Rafidain calls on citizens to pay their loan installments and takes legal measures
» Oil rises 3% on speculation of an OPEC + production cut
» Trade: 5 million people receive the ration and they do not deserve it
» Al-Kazemi faces a lawsuit for wasting public money
» Did the Iraqi parliament session end the crisis, or did it establish new ones?
» Kurdish politician: Iran has exploited the state of weakness and underestimated Iraqi sovereignty
» (70) billion to furnish and maintain the mechanisms of Al-Kazemi’s office from the funds of the Food
» Rewaz Faeq and a French official discuss strengthening diplomatic coordination between Kurdistan and
» A parliamentary committee intends to host officials to discuss the Turkish and Iranian attacks on Ir
» With the exception of two sides... Al-Sadr rejects the framework's mediation to form the government
» The last fight.. A resigned Sadrist deputy describes the upcoming parliament session
» Al-Zaidi: The October movement is an important pressure card on the path of the political process
» Al-Kazemi congratulates on the occasion of the National Day
» Al-Kazemi’s office issues a statement regarding (misleading publications intended to blackmail the g
» Details of Al-Kazemi and Barzani meeting in Erbil
» Labor announces the launch of social assistance for the current month
» Leaks reveal the expected scenario of the (OPEC +) meeting
» Parliamentary Finance: The government must do justice to teachers and educational cadres in salaries
» Al-Kazemi arrives in Erbil
» A government statement in response to a deputy accusing Al-Kazemi of “scattering” the “emergency sup
» A new parliamentary call to refer those involved in the civil aviation contract and “Business Intel”
» On this date.. an international meeting in the presence of Blackshart on the situation of Iraq
» Al-Kazemi and Barzani discuss the political and security situation in the country
» Parliament is racing against time before the October 25 demonstrations
» Gold prices in the local markets
» A slight increase in the exchange rates of the dollar in the local markets
» Vietnam News" Posted by Samson at KTFA 10-1-2022
» Kurdistan Democratic Party: The candidate for the presidency of the republic is linked to general co
» Mazhar Muhammad Salih: Issuing a new cash denomination is a measure to improve the performance of th
» The Kurdistan Regional Government bans the use of social networking sites in official departments
» Bank of Baghdad increases its total revenues by 4%
» Industry announces the size of sulfur reserves in Iraq
» Parliamentary Integrity hosts Investment Authority officials to discuss the collapse of the National
» The President of the Republic receives credentials from the ambassadors of Kuwait, Denmark and the N
» The President of the Republic receives a written message from the French President
» The President of the Republic receives a written message from the French President.. What is its con
» Al-Rasheed Bank announces the addresses of card issuance centers in Baghdad and the provinces
» Kurdistan Region and Jordan sign a memorandum of understanding to enhance trade and investment coope
» At 5% interest.. Al-Rafidain: 50 million dinars loans for construction and restoration
» Dhi Qar Oil Company enters into a contract with the American company "Baker Hughes" to raise gas pro
» The Iraqi constitution and the requirements of the stage
» 3 months and the food basket ends and no allocations yet for next year
» Iraq's oil exports to America increased by 68% in a week
» The increase in foreign remittances sales of dollars in the auction of the Central Bank of Iraq
» The European Union expresses its grave concern over the recent political and security escalation in
» Al-Maliki and Allawi's coalition recall the October protests and warn against "penetrating" them
» Al-Nusour demonstrators conclude their protests with a number of demands, most notably a transitiona
» Baghdad directed an immediate treatment to the dams in the Kurdistan Region to confront the water cr
» Al-Kazemi at a National Security meeting: We reject the Iranian bombing
» Hassan Nasrallah accuses the Iraqis of denial: Iran has no ambitions in your country
» Saleh and Plasschaert stress the solution to the political crisis to face "massive challenges" facin
» Kurdish party: Resolving the file of choosing a presidential candidate depends on this matter
» Iraq achieves nearly $9 billion from oil sales in September
» Iraq is the largest buyer of gold for the second quarter of this year
» More than 200 thousand barrels per day .. Iraq's oil exports to America rise within a week
» Iraq concludes a contract with an American company to raise gas production from two oil fields
» Reducing production is the master of the situation in the upcoming OPEC + talks... and an Iraqi expe
» Expert: Karbala refinery will cover 70 percent of Iraqis' need for gasoline
» Less than $15 from the market.. the average selling price of a barrel of Iraqi oil to Jordan
» Iraq announces its plan to irrigate more than 5 million acres of crops in the winter season
» The decline in Iraq's oil revenues in 3 months... and an expert explains the reasons
» FRANCE 24: The public sector is a dream of Iraqi youth and a nightmare for the state
» OPEC + considers reducing oil production by more than one million barrels per day
» The framework intensifies the movement to form the Iraqi government, amid fears of Al-Sadr's surpris
» With documents.. the scandal of Adel Abdul Mahdi's office on the last day of his tenure...
» The President of the Kurdistan Region and the Deputy Speaker of the Iraqi Parliament stress the coor
» The investment was achieved with the sudden collapse of a building in central Baghdad, and it vows t
» Coordination framework: Two steps ahead for the success of Al-Sudani’s mission to form the governmen
» US report: Iraq lost 551 billion during the Maliki era
» Al-Mandalawi discusses with Talabani the need to overcome the challenges facing the political scene
» Iraq's oil exports to America rise within a week
» The Ministry of Water Resources announces the approval of its irrigation plan for the next winter se
» The President of the Republic receives the UN envoy, Jeanine Hennis-Plasschaert
» Saleh and Al-Mandalawi stress the importance of meeting the expected benefits
» Al-Rafidain determines the value of construction loans and the categories covered - urgent
» Saleh discusses with Blackshart the political situation and the exit from the crisis
» Arrest and summons orders issued against officials in the Ministry of Defense – urgent
» Gold prices in the local markets
» The stability of the dollar exchange rates in the local markets
» Concerning The Transfer Of 2.9 Trillion To Kurdistan .. A Deputy Files A Lawsuit Against Al-Kazemi
» Millions Of Dollars In Losses.. Arab Investments Are Confiscated In The Kurdistan Region And The Aut