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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


    The budget is halfway through.. a challenge to the government and a test for the state coalition

    Rocky
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    The budget is halfway through.. a challenge to the government and a test for the state coalition Empty The budget is halfway through.. a challenge to the government and a test for the state coalition

    Post by Rocky Fri Apr 07, 2023 3:33 pm

    The budget is halfway through.. a challenge to the government and a test for the state coalition
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    Baghdad Today - Report
    The House of Representatives cut half way towards approving the financial budget for the years 2023, 2024 and 2025, by completing the first reading of the draft law at dawn on Wednesday.
    According to the constitution and the law, the first reading of bills obliges Parliament not to make any amendment or change in them, as happens in the second reading.
    The budget deficit amounts to 63 trillion dinars ($48.5 billion), which is "controlled," according to government spokesman Basem Al-Awadi.
    Al-Awadi added, "The deficit will be covered from a group of sources, including the amount transferred in the Ministry of Finance, from the share of treasury transfers in the Central Bank, bonds, internal loans, and other sources."
    "important numbers"
    The price of a barrel of crude oil exported in the budget was approved at 70 dollars, and the quantities of crude oil exports in the 2023 budget will be about 3.5 million barrels per day, of which 400 thousand barrels per day are via the Kurdistan region.
    Oil revenues amount to 117.252 trillion dinars (90.9 billion dollars), while non-oil revenues amount to 17.301 trillion dinars (13.3 billion dollars).
    As for the total proposed expenditures, they are 197.828 trillion dinars ($152.2 billion), and investment projects are 47.555 trillion dinars ($36.6 billion).
    Parliament is expected to announce its observations on what was stated in the draft budget, prior to its approval, and submitting it to the President of the Republic for approval within 15 days, and converting it into an effective law.
    Estimates of the Parliamentary Finance Committee indicate that the process of approving the budget will take from one month to 45 days, that is, before next June at the latest.
    "political positions"
    It does not seem that the budget will pass with the "smooth" required of the government to expedite the implementation of its program, as it urged Parliament to legislate the budget law "as soon as possible," which "the Iraqi people are impatiently awaiting, with what it included of service, investment and other projects," according to Al-Awadi.
    And as soon as the House of Representatives completed the first reading, the government, through its official spokesman, rushed to “praise” it, to reflect this diligent follow-up by the executive authority to the steps of budget legislation, and she said, “This interaction clearly indicates a spirit of high understanding by the people’s representatives of the responsibility entrusted to them and their good appreciation.” Due to the conditions our country is going through and its urgent need to expedite the approval of the budget, to take its path to implementation and to enable the government to meet the basic needs of citizens.
    "Balancing Services"
    And the head of the Parliamentary Finance Committee, Atwan Al-Atwani, says, “The 2023 budget focused on the priorities of the government curriculum, which include upgrading the service side, implementing strategic projects in the field of electricity and infrastructure, and completing lagging projects, especially hospitals.”
    "Test and Challenge"
    The implementation of the budget items will be one of the biggest challenges that the Sudanese government will face, given the huge and large files at various levels, political, service, economic, security, energy and investment projects, combating corruption and poverty, providing job opportunities, as well as the government program.
    Approval of the budget is likely to be delayed until sharp differences between the Sunni and Shiite parties are resolved regarding the implementation of the political agreement that led to the formation of the Sudanese government.
    The agreement, which brought together the coordination framework with Sunni and Shiite parties, included a comprehensive settlement of controversial files. Such as the budget, and amending laws, most notably the general amnesty, accountability, and justice, as well as balance in government institutions, and this means, in the event of a retreat from the political agreement, the collapse of the deal that led to the formation of the government, and it included provisions; Among them is the federal budget, say deputies from Sunni forces.
    A Sunni leader said that participation in Al-Sudani's government came after "a clear political commitment from the coordination framework, to resolve the shares of these cities in the budget, and to amend the general amnesty and accountability laws."
    However, deputies from the coordination framework stressed that the budget disputes will not be related to the political agreement, and will remain within a "technical" framework that can be dealt with, while they seemed confident that it would be approved soon, despite the political differences.
    "temporary agreement"
    And the Baghdad-Erbil agreement to resume exporting the Kurdistan region's oil through the National Oil Company (SOMO) gave a strong impetus towards approving the financial budget. 
    Al-Sudani said, during a press conference he held with the President of the Kurdistan Government, Masrour Barzani, after the signing of the agreement last Tuesday, that "this agreement will pave the way for passing the budget law and its contents that were developed as the outcome of a dialogue between the federal government and the regional government, which dealt with all files, including the oil and gas file."
    He warned of "any delay in not resuming oil exports, which will clearly affect the budget, and thus the deficit rate will increase," but indicated that the resumption of oil exports is "temporary." 
    In turn, Barzani stressed that "the agreement is in the interest of all Iraqis," pointing out that it is a "temporary" agreement, but its foundations will be reflected in the budget and oil and gas laws.
    Barzani stressed that "the implementation of the agreement well can become a basis that we can benefit from in drafting the oil and gas law."
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