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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Parliament is preparing to receive an explosive budget and assurances to speed up its approval

    rocky
    rocky
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    Parliament is preparing to receive an explosive budget and assurances to speed up its approval Empty Parliament is preparing to receive an explosive budget and assurances to speed up its approval

    Post by rocky Tue 24 Jan 2023, 4:54 am

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    [size=52]Parliament is preparing to receive an explosive budget and assurances to speed up its approval[/size]

    [size=45]Parliament is preparing to receive the draft budget law from the government with amounts that are considered the highest, with the hope that it will complete the discussion and vote during the next month, amid assurances that there will be no major differences, as the blocs rely on previous agreements under which the government of Muhammad Shiaa al-Sudani was formed.[/size]
    [size=45]The government's financial advisor, Mazhar Muhammad Salih, said, "It is very likely that the cabinet will approve in the coming days the draft federal budget law for the year 2023, and send it to the House of Representatives for approval as soon as possible."[/size]
    [size=45]Saleh added, "The figures that are being circulated are all scenarios and expectations, but the budget for the year 2023 will not eventually exceed 200 trillion Iraqi dinars," noting that "Iraq depends on securing 90% of its revenues on oil marketing and sales operations."[/size]
    [size=45]He explained that "the existing fluctuation in oil prices leads to the expectation of fixing $70 as a price per barrel of oil in the 2023 budget," expecting that "the daily rate of Iraqi oil exports in 2023 will be 3.4 million barrels."[/size]
    [size=45]For his part, MP Muhammad Al-Shammari stated, “The obstruction in delaying the approval of the budget is the delay in sending the government the project to Parliament.”[/size]
    [size=45]Al-Shammari added, "The members of the House of Representatives are determined to continue their work to approve the budget as soon as it arrives from the government."[/size]
    [size=45]He pointed out, "The next budget will be the largest in the history of Iraq, with a limit of 200 trillion dinars, due to the financial abundance and the high price of a barrel of oil, and I think that the budget will provide them with sufficient allocations."[/size]
    [size=45]In turn, Representative Thaer Makhaif confirmed that the general budget for 2023 will soon be approved easily and easily in the House of Representatives, and he said, "All ministries have completed their financial allocations and they were discussed in the Council of Ministers, and they are currently in the final touches in the House before sending them to Parliament for approval."[/size]
    [size=45]He added, "Mistakes or deficiencies, even if they are found, will be addressed in the specialized committees of the House of Representatives."[/size]
    [size=45]He pointed out, "The budget includes two parts, the higher part will go to the operational aspects, while the remaining part will go to the investment side."[/size]
    [size=45]He pointed out that “the operational part will include salaries and ministries’ projects, and it will contain all contracts approved by the government and ministries, and it will deal with most of the backlogs from previous budgets, including the file of disguised unemployment and appointments, and relying on the local product through reopening factories and establishing others to benefit from them in employment and not to import Materials".[/size]
    [size=45]Meanwhile, the representative of the Kurdistan Democratic Party, Sharif Suleiman, said, "Dialogues and negotiations are still going on regarding determining the percentage of the Kurdistan region from the budget for the year 2023."[/size]
    [size=45]And Suleiman continued, "These dialogues are continuing in full swing and are taking place smoothly, and there are good results that have appeared, especially after the mutual visits between officials in the federal government and the Kurdistan region."[/size]
    [size=45]He pointed out, "There is a prior agreement in the terms of the political paper agreed upon by the allied forces in the State Administration Coalition, regarding a clear paragraph regarding granting the Kurdistan region a fair and equitable budget."[/size]
    [size=45]He added, "Until now, the percentage of the Kurdistan region has not been determined from the budget for the year 2023, and we demanded that the percentage of the region be 17%."[/size]
    [size=45]Suleiman stressed that “the share of the region must be determined according to the population census and what it deserves in the constitution, the law, and the political agreements concluded between the allied forces in the state administration coalition.”[/size]
    [size=45]And the President of the Kurdistan Region, Nechirvan Barzani, had stressed the need not to neglect the permanent constitution of the country, and to work to implement its articles and provisions in full without selectivity, and he also stressed the implementation of the political agreement that resulted in the formation of the current federal government.[/size]
    [size=45]On a related note, the economic researcher, Nabil Jabbar Al-Tamimi, said that the volume of the budget circulating through some leaks confirms the existence of a huge budget that may be the highest in Iraq's history, and may exceed the barrier of 200 trillion dinars.[/size]
    [size=45]Al-Tamimi added, according to a press interview followed by (Al-Mada), that “the operational side of the budget will exceed 80 trillion dinars, reaching more than 100 trillion dinars, which is a very large amount. Usually, these operational budgets govern government spending, and that the price of oil is At $57 per barrel as a minimum, to enable the government to provide these budgets.[/size]
    [size=45]He pointed out, "The decision-maker in Iraq does not realize the size of the occasional economic effects of huge budgets that may contribute to an increase in price inflation in one way or another."[/size]
    [size=45]Al-Tamimi expected that the implementation of the budget would be disrupted during the coming period if the crisis continues for several months to come, and that the treatments require additional time, which prompts the central bank to print more local currency during the coming period, to strengthen the government’s accounts, which is a risky measure.[/size]
    [size=45]Al-Tamimi added, “The government will rely in the budget on a fixed exchange rate of 1,460 dinars per dollar, and the government may assume an oil price between 60-70 dollars per barrel, which is a speculative price based on the lower limits of oil price expectations.”[/size]
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      Current date/time is Wed 08 Feb 2023, 8:45 pm