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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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    Magda Al-Tamimi reveals important details in the budget law

    Rocky
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    Magda Al-Tamimi reveals important details in the budget law Empty Magda Al-Tamimi reveals important details in the budget law

    Post by Rocky Mon 03 Apr 2023, 5:41 am

    [rtl]Magda Al-Tamimi reveals important details in the budget law[/rtl]

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    [rtl]Baghdad-Iraq Today:[/rtl]
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    Member of Parliament, Magda Al-Tamimi, revealed the details of the draft federal budget law, confirming that this information comes within the first part, and highlights the most important observations.

    Al-Tamimi indicated, in a press statement, that “the delay in sending the draft law from the government to the House of Representatives, while Article (11) of the Financial Management Law No. (6) of (2019) stipulated (the Council of Ministers shall discuss, approve and present the draft federal budget law to the House of Representatives before mid-October of each year), but the above draft law was sent to the House of Representatives on 3/16/2023, which means that sending the bill was delayed for a period of five months beyond the date specified in accordance with the law.

    And she added: “If the argument is to present a draft law that is consistent and compatible with the government program, especially since the government granted it confidence on October 13, 2022, then we say that, without any doubt, this is the right.” of the government and it should be so, and we believe that the period of two and a half months was It is very sufficient to make amendments to the draft budget, which was prepared in advance, to come in conformity with the government program, which means that it should have been sent to Parliament on 12/31/2022.

    And she continued: “The most strange thing is that the Finance Committee officially received the project on the first of April from the Presidency of Parliament, and this is a dangerous precedent that did not happen during the previous sessions.” And if we add to it a period of a month and a half for discussions in the Finance Committee and the Council, which means that the budget will be effective with the beginning of the month of June, after the Presidency of the Republic ratified it and published it in the Official Gazette.

    Al-Tamimi indicated the need to "attach important reports, as well as tables and the financial statement report sent with the draft budget law, to complete the picture for the members of the House of Representatives, which would reflect positively on the performance of the House while the members of the Finance Committee and other support committees made amendments to the draft law to be The outputs are accurate and based on sufficient information.”

    Al-Tamimi emphasized the most important “reports required to be attached to the draft budget law as follows:-

    1- The actual expenditures of the Emergency Support for Food Security and Development Law No. (2) For the year 2022, in the form of detailed tables showing all funded amounts, actual expenditures, and the remaining of them to be audited by the Financial Supervision Bureau 2- A report from the Ministry of Finance on the accumulated advances (

    current and investment) for the end of 2022.

    3 - A report from the Ministry of Finance on the size of government deposits and their percentage of the total volume of total deposits and other expected revenues in detail, the targeted tax bases, customs duties, border crossings, state real estate revenues, the treasury's Share the profits of public companies, and the Iraqi Fund for Foreign Development and Free Zones.

    4- A report from the Ministry of Finance / the Public Retirement Authority on the numbers of retirees according to the different categories, with an indication of the categories from which no retirement contributions are deducted and the total salaries of each category.

    5- A report from the Ministry of Oil on the quantities of oil produced and exported, the ratio of production costs to oil revenues, the amounts allocated for importing oil derivatives, the mechanism for their distribution, the expected production and export volume of crude oil and oil derivatives for the next three years.

    6 - A report from the Federal Ministry of Planning on the detailed bases for estimating the costs of investment projects, the volume of operational spending and their economic feasibility over their lifetime.

    7- A report from the Ministry of Planning that includes the gross domestic product, the percentage and contribution of economic sectors to the gross domestic product, the rate of implementation of investment projects, inflation rates, consumer price indices, the number of residents by governorates , the ratio of the number of people per governorate to the total population, the volume of government imports to the total imports.

    8- A joint report from the ministries of Planning, Labor and Social Affairs on the gender balance (society segments) to show the extent to which fair human development has been achieved.

    9- A report from the Central Bank on the foreign exchange budget and the national money supply plan.

    10- A report from the Ministry of Commerce, in coordination with the Central Bank, that includes the foreign trade plan.

    Al-Tamimi pointed out that "other observations will be received successfully regarding other paragraphs of the draft law."[/rtl]
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