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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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    Al-Jubouri: The Finance Minister’s statements are future fears, and 8 million Iraqi families receive

    Rocky
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    • Post n°1

    Al-Jubouri: The Finance Minister’s statements are future fears, and 8 million Iraqi families receive Empty Al-Jubouri: The Finance Minister’s statements are future fears, and 8 million Iraqi families receive

    Post by Rocky Mon 27 Dec 2021, 6:40 am

    Al-Jubouri: The Finance Minister’s statements are future fears, and 8 million Iraqi families receive salaries

    •  Time: 12/26/2021 23:12:07
       
    •  Reading: 3,172 times

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    {Economic: Al Furat News} The head of the former Parliamentary Finance Committee, Haitham al-Jubouri, described the statements of Finance Minister Ali Allawi, regarding the future of the oil industry and a possible layoff of employees in Iraq, as "future concerns."
    The useful summary.. In important news, you can find it on Al-Furat News Channel on Telegram.. [You must be registered and logged in to see this link.]
    Al-Jubouri said; The program {State Dialogue} broadcast by Al-Furat satellite channel this evening, that: “Sometimes when a person declares the level of the Minister of Finance in the issue of numbers and fear of the future in terms of economic and financial terms, he is subjected to a great criticism regarding fear of the future of the economy.” And he continued, "Iraq needs 4 billion dollars per month to pay salaries, and oil revenues were not enough to pay salaries during the Corona crisis, and we have oil revenues and billions of tons of minerals that were not invested as well as non-oil revenues, including fees and services, and because of our dependence on employees without using electronic automation, we reached current situation". Al-Jubouri added, “Electricity is supposed to be collected annually, 15 trillion dinars, which is only 2% and 90% of the annual customs revenues are not achieved.
    He added, "We have two issues in the budget, revenues and expenditures. When expenditures expand in an uncontrolled manner, and revenues shrink in a way that they are unable to intervene, there is definitely a big problem that occurs after years."
    Al-Jubouri explained, "The Minister of Finance's determination of the economic problem after 10 years is due to the population expansion, and the number is expected to reach between 55-60 million people. We expect that with the expansion of expenditures, Iraq's need may reach 200 trillion dinars annually at least," he added.


    It is supposed to activate the collection and customs systems {automation} and invest minerals, restore life to the Iraqi industry and encourage investments, and the capital can be rotated inside Iraq instead of outside.
    He pointed out that “the intersection of powers is one of the most important problems hindering investment and in all countries of the world there is one king and in Iraq approximately 500 King, and the relationship between the Governorates Investment Commission and the National Commission is intersecting, stressing “the need to start real steps for reform in the industrial, agricultural and tourism files.
    ” Al-Jubouri stressed, “95% of the white paper is executive and is the authority of the government and does not need legislation, and dealing with paper, construction and intersection of powers will not The economic crisis in Iraq will be resolved even after 10 years, and we have asked the federal government to set timelines for implementing the ideas of this paper.
    He went on, "We have 8 million families receiving salaries in Iraq, and we demanded the protection of food security in exchange for raising the exchange rate. Changing the exchange rate was supposed to support the local product, and as a state, 129 trillion dinars is the size of the expected expenditures and the money that is achieved from the increase in oil prices to bridge the financial deficit."
    Al-Jubouri concluded, “The government had two options for the permanence of salaries, either deducting them or raising the exchange rate.” Returning to changing the exchange rate, “a solution to the weak and those who do not have a trick, and some decisions were in the interest of the parties, not the state.”
    He noted, "The salaries of the three presidencies and representatives have been reduced to 50% in the 2019 budget law, and the salaries of the three presidents have become only 23 million dinars for each president," revealing that "all the trips of Speaker of Parliament Muhammad al-Halbousi are paid from his own pocket."
    Al-Jubouri concluded, “The investment budget has a great shortage, and the Parliamentary Finance Committee added the money of the lecturers, contracts and procedures in the 2021 budget, which amounts to 875 billion dinars.” 
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