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[size=36]The Ministry of Finance issues a new clarification on the amortization of government advances granted during previous years[/size]
Economy | 09:20 - 06/23/2023
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Baghdad - Mawazine News
Today, Friday, the Ministry of Finance issued a new clarification about extinguishing government advances granted during previous years.
The ministry stated in a statement, of which Mawazine News received a copy, that “based on the principle of transparency that the Ministry of Finance is accustomed to in dealing with issues of financial and economic concern, and in an effort to clarify the facts and clarify issues for public opinion, including what is related to the issue of extinguishing government advances granted.” During the previous years, the Ministry would like to clarify what has been reported in the media circles in terms of conversations and statements by some personalities about the issue of extinguishing advances, especially what is related to Article 15 of the Budget Law, which has already been included in the years since 2017 and the relevant Cabinet decisions, in Urge spending units to deal with the suspended advances in their records, in coordination with the Ministry of Finance and the Board of Supreme Audit, through a mechanism mentioned in Article 15 so far, which is concerned with addressing the issue of advances of all kinds.
And the statement emphasized, “These advances are recorded in the records of spending units because the conditions for their settlement and conversion into a final expense have not been completed, as they have been accumulated since 2007, and this was confirmed by the Office of Financial Supervision in all its reports issued in this regard, and this account has accumulated since 2007, and because the spending units did not By settling these advances, noting that Article 15 referred to the entry settlement procedure without actual disbursement operations, and that the amortization mechanism is carried out by auditing these advances by the Federal Bureau of Financial Supervision, after the spending units submit settlement reinforcements to the Supervision Bureau, and after obtaining the approval of the Supervision Bureau Finance on the settlement, those units shall submit it to the Ministry of Finance to establish the entry settlement (treatment) and allocate the settlement without the cash disbursement.
And the statement stated, “While the article stipulates that the spending units, after auditing the Financial Supervision Bureau, send the total of the advances shown to them, knowing that the Ministry of Finance deals with government spending units at the level of government formation, not individuals or personalities, and the Ministry of Finance has no relationship with individuals and public figures to finance them.” From the general budget, and then send it to the Bureau of Financial Supervision with all the reinforcements that support the settlement of those advances, after that the spending units address the Ministry of Finance to obtain the Bureau of Financial Supervision on the settlement, so that an allocation is made according to the authority of the Minister of Finance in accordance with Article 15 without cash disbursement. .
The statement continued, as for "the availability of priorities on the subject, the loss of priorities was not mentioned in the report of the Office of Financial Supervision, but when referring to the report of the final accounts of the Republic of Iraq for the years 2014 and 2015, we will find there a statement showing the size of the amounts for advances at the annual level For each year, and that this information was previously provided by the Ministry of Finance based on the audit balances of the spending units of the Bureau of Financial Supervision, based on the information provided to the Ministry of Finance in the final account of the Republic of Iraq, and in the event of any shortage, the Ministry is ready to send the details of that The predecessors, (therefore, clarification must be made).
Today, Friday, the Ministry of Finance issued a new clarification about extinguishing government advances granted during previous years.
The ministry stated in a statement, of which Mawazine News received a copy, that “based on the principle of transparency that the Ministry of Finance is accustomed to in dealing with issues of financial and economic concern, and in an effort to clarify the facts and clarify issues for public opinion, including what is related to the issue of extinguishing government advances granted.” During the previous years, the Ministry would like to clarify what has been reported in the media circles in terms of conversations and statements by some personalities about the issue of extinguishing advances, especially what is related to Article 15 of the Budget Law, which has already been included in the years since 2017 and the relevant Cabinet decisions, in Urge spending units to deal with the suspended advances in their records, in coordination with the Ministry of Finance and the Board of Supreme Audit, through a mechanism mentioned in Article 15 so far, which is concerned with addressing the issue of advances of all kinds.
And the statement emphasized, “These advances are recorded in the records of spending units because the conditions for their settlement and conversion into a final expense have not been completed, as they have been accumulated since 2007, and this was confirmed by the Office of Financial Supervision in all its reports issued in this regard, and this account has accumulated since 2007, and because the spending units did not By settling these advances, noting that Article 15 referred to the entry settlement procedure without actual disbursement operations, and that the amortization mechanism is carried out by auditing these advances by the Federal Bureau of Financial Supervision, after the spending units submit settlement reinforcements to the Supervision Bureau, and after obtaining the approval of the Supervision Bureau Finance on the settlement, those units shall submit it to the Ministry of Finance to establish the entry settlement (treatment) and allocate the settlement without the cash disbursement.
And the statement stated, “While the article stipulates that the spending units, after auditing the Financial Supervision Bureau, send the total of the advances shown to them, knowing that the Ministry of Finance deals with government spending units at the level of government formation, not individuals or personalities, and the Ministry of Finance has no relationship with individuals and public figures to finance them.” From the general budget, and then send it to the Bureau of Financial Supervision with all the reinforcements that support the settlement of those advances, after that the spending units address the Ministry of Finance to obtain the Bureau of Financial Supervision on the settlement, so that an allocation is made according to the authority of the Minister of Finance in accordance with Article 15 without cash disbursement. .
The statement continued, as for "the availability of priorities on the subject, the loss of priorities was not mentioned in the report of the Office of Financial Supervision, but when referring to the report of the final accounts of the Republic of Iraq for the years 2014 and 2015, we will find there a statement showing the size of the amounts for advances at the annual level For each year, and that this information was previously provided by the Ministry of Finance based on the audit balances of the spending units of the Bureau of Financial Supervision, based on the information provided to the Ministry of Finance in the final account of the Republic of Iraq, and in the event of any shortage, the Ministry is ready to send the details of that The predecessors, (therefore, clarification must be made).
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