Parliament is awaiting the arrival of the budget before the start of its new legislative term

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[size=52]Parliament is awaiting the arrival of the budget before the start of its new legislative term[/size]

[size=45]Baghdad / Firas Adnan[/size]
[size=45]Representatives believe that the parliament will, once its sessions are held, discuss the budget law, which is expected to be voted on by the government in the coming days, while they indicated that political differences over the draft will be resolved through traditional agreements that were renewed in the government formation dialogues.[/size]
[size=45]Representative Raed al-Maliki said, "The draft budget law has always been accompanied by problems related to the dialogues of the political blocs, since its preparation, through discussions, until voting on it and its entry into force."[/size]
[size=45]Al-Maliki continued, "Whatever talk happened about the completion of the draft budget, but its paragraphs will remain a matter of controversy and controversy, whether within the cabinet or among the blocs in parliament."[/size]
[size=45]He pointed out that "the time limits for the budget stipulated in the amended Federal Financial Management Law No. 6 of 2019 have been exceeded."[/size]
[size=45]Al-Maliki pointed out, "Actual expectations indicate that the submission of the law will take place at the beginning of the first semester of the second legislative year, on January 8 of next month."[/size]
[size=45]He explained, "The talk that is taking place regarding job grades is limited to the process of fixing contracts, and this does not mean that there are new job grades."[/size]
[size=45]And al-Maliki said, "The number of contract holders in state departments is very large and reaches 600,000 people, and we are awaiting the government's estimates according to its financial capabilities in order to absorb this number."[/size]
[size=45]And he continues, “The Council of Ministers will hold a session tomorrow, Tuesday, that will witness the submission of financial costs to install these contracts by the Ministry of Finance.”[/size]
[size=45]And al-Maliki added, "The differences over the percentage of the Kurdistan region in the budget and the shares of oil-producing provinces are used to being resolved in the budget by the influential political blocs in parliament."[/size]
[size=45]And he talked about «traditional treatments that will be resorted to by finding a text in the draft budget law that obliges the Kurdistan region to deliver oil sales dues at a rate and to make subsequent settlements by the Office of Financial Supervision».[/size]
[size=45]And al-Maliki added, "Resorting to these solutions does not address the root of the problem that needs sustainable solutions through the legislation of the oil and gas law, but it seems that the agreements to form the government have dealt with this issue and resolved it."[/size]
[size=45]And he believes that “determining the price of selling oil, as well as the exchange rate of the dollar, is one of the basic matters to which the process of determining the state’s financial revenues and the planned deficit percentage is linked.”[/size]
[size=45]Al-Maliki concluded, "Expectations indicate that the price of a barrel of oil will be around $65, which are medium and appropriate estimates."[/size]
[size=45]In addition, Representative Hussein Arab stated, "The delay in the arrival of the budget law to the House of Representatives is due to several reasons, the first of which is the high price of oil and the increase in operational and investment expenses."[/size]
[size=45]Arab continued, "The draft was drawn up by the previous government, and replacing it with another with full powers and with a new ministerial curriculum requires that there be a real plan for the budget."[/size]
[size=45]He pointed out, "The blocs are determined to pass the law as soon as it arrives from the government, and this measure is expected to take place with the parliament's resumption of its sessions early next month."[/size]
[size=45]For his part, economist Safwan Qusay believes that "the budget law could range from 140 trillion dinars to 150 trillion."[/size]
[size=45]Qusay added, "There is a desire to set a conservative price for a barrel of oil of $65, with non-oil revenues that may reach 20 trillion dinars."[/size]
[size=45]And he talked about "the desire of the government of Muhammad Shia' al-Sudani to control the border crossings and tighten customs and taxes, with the possibility of gas entering the revenues."[/size]
[size=45]Qusai explained, "What distinguishes this year is the presence of 3% of the total revenues that will be added to the budget. Previously, it went to compensation for the Kuwait war, which was zeroed."[/size]
[size=45]And he indicated that “the priorities of the Sudanese government are the ones that obstructed the passage of the budget within the government,” and revealed that “there is a reformulation of the project so that there are sums that meet the aspirations of the ministries in their programs.”[/size]
[size=45]Qusai stressed, "Expectations indicate the stability of oil prices and their recovery in the coming period, given the external data, including the cohesion of the countries affiliated with the OPEC banner to adhere to the agreed quantities in production in order to preserve the global market."[/size]
[size=45]And he continues, "The budget maker is trying at the present time to reduce the price of oil and invest the surplus during the next year by directing it towards the Development Fund for Iraq to create job opportunities for the unemployed in the private sector."[/size]
[size=45]And Qusai finds, "The central bank's reserves have grown during this period, and we are currently in front of 96 billion dollars, and a surplus rounded up to next year amounts to 20 billion dollars."[/size]
[size=45]And he does not believe that “there is a problem with securing salaries in the short term, because Iraq is able to pay them, but we look forward to investing the financial abundance in moving the economic wheel and opening up to the countries of the region to achieve food security for them from the country’s exports.”[/size]
[size=45]Qusai warned against "continuing to direct the exchange to consumption, because this does not take Iraq out of the circle of economic risks."[/size]
[size=45]He called for "directing the financial surplus to the agricultural and industrial sectors, completing the large port of Faw, opening up to neighboring countries, diversifying non-oil sources, and investing in petrochemicals."[/size]
[size=45]And Qusai went on to say, "If the current government succeeds in implementing its pledges contained in the ministerial curriculum, foremost of which is confronting corruption and recovering looted funds, we will witness an improvement in the Iraqi economy."[/size]
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