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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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    Parliament is waiting for the budget to arrive early next week and is not satisfied with its deficit

    Rocky
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    Parliament is waiting for the budget to arrive early next week and is not satisfied with its deficit Empty Parliament is waiting for the budget to arrive early next week and is not satisfied with its deficit

    Post by Rocky Wed 15 Mar 2023, 5:05 am

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    [size=52]Parliament is waiting for the budget to arrive early next week and is not satisfied with its deficit[/size]

    [size=45]Baghdad / Firas Adnan[/size]
    [size=45]The Parliamentary Finance Committee expects to receive the draft budget law early next week, describing the deficit that it included as large, but indicated the possibility of extinguishing it through the abundance of oil, stressing that the previous agreements between the state administration coalition are sufficient to pass the law quickly and not disrupt it.[/size]
    [size=45]Committee member Mueen Al-Kadhimi said, "The Council of Ministers voted yesterday on the draft budget law for three years."[/size]
    [size=45]Al-Kazemi added, "Parliament will receive the project at the beginning of next week, and thus the Finance Committee is studying it."[/size]
    [size=45]He pointed out, "The project includes an amount of 197 trillion Iraqi dinars, 150 trillion dinars has been allocated for the operational part, and this amount will go to salaries, ration cards, social care and operating expenses of the ministries."[/size]
    [size=45]Al-Kazemi pointed out, “The allocation of 47 trillion dinars to the investment part, and it relates to large projects from the port of Faw, electricity contracts signed with Siemens and General Electric, the development of regions and governorates, projects of ministries, and the construction of schools and hospitals.”[/size]
    [size=45]He explained, "The deficit will be about 63 trillion dinars, which is a large amount that the government will seek to cover through the price of oil or raising production quantities from Iraqi wells, in addition to the previous financial abundance."[/size]
    [size=45]And Al-Kazemi added, "Parliament will have a period ranging from one month to 45 days to ratify the draft budget law in order to implement it."[/size]
    [size=45]And he stressed, “The new thing that happened is to make this budget for three years,” stressing that “this measure is taken for the first time after 2003, and this is permitted in accordance with what was stipulated in the amended Financial Management Law No. 6 of 2019.”[/size]
    [size=45]Al-Kazemi hopes that “the deputies will feel responsible and speed up the approval of the budget,” stressing that “the government took about five months when preparing the budget.”[/size]
    [size=45]He sees the possibility of “passing the budget easily, depending on the political agreements of the state administration coalition, which has the largest number of deputies.”[/size]
    [size=45]And Al-Kazemi continues, “The previous dilemma, which was regarding the share of the Kurdistan region and its obligations, has ended in this budget, after providing a number of guarantees.”[/size]
    [size=45]And he added, “The budget has allocated a fund and sufficient sums of money for the reconstruction of the liberated areas, and other funds have been allocated for the reconstruction of the poorest areas in the center and south.”[/size]
    [size=45]Al-Kadhimi stressed, "The financial distribution of the project between the governorates creates a kind of consensus between the large political blocs that helps pass the budget." He finds that “resorting to passing a budget for three years is new,” but he considers this development to be positive, as it “leads to a state of stability in the annual budget, which is always disrupted.”[/size]
    [size=45]Al-Kadhimi expressed his optimism about what has been achieved so far, and he expects that “things will proceed in a positive way until the law is passed in this encouraging atmosphere.”[/size]
    [size=45]And he added, “The contents of the budget have not reached us until now, so what we received is a summary prepared by the Ministry of Finance regarding the foundations of this law, but we do not know the details related to job grades and others.”[/size]
    [size=45]And Al-Kazemi concluded, that “detailed matters related to job grades, decisions, and instructions have not been reviewed by Parliament until the present time, and they are awaiting the draft to be officially received from the Council of Ministers.” For his part, MP Muhammad al-Ziyadi stated that “drawing the state’s financial policy is one of the tasks of the Council of Ministers.”[/size]
    [size=45]Al-Ziyadi continued, "The House of Representatives is the one who approves the government's financial projects, especially the draft budget law."[/size]
    [size=45]He pointed out, "Iraq suffers from many problems in the liberated and deprived provinces, and it needs to speed up the budget law."[/size]
    [size=45]Al-Ziyadi stressed, “The House of Representatives is discussing the draft that the government sent for the budget, by presenting it for the first reading and then proceeding with the discussions until the vote.”[/size]
    [size=45]And he believes, “The law does not prevent the government from submitting a draft budget that is allocated for three years, the first of which is compulsory, and the remaining two years that the Council of Ministers may amend based on a draft that Parliament votes on.”[/size]
    [size=45]Al-Ziyadi concluded that “Parliament will discuss the law carefully and hold meetings with all concerned before voting on it.”[/size]
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