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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


    A frightening deficit” and “oppressed” governorates.. Budget schedules are preparing for a “storm” o

    Rocky
    Rocky
    Rocky
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    • Post n°1

    A frightening deficit” and “oppressed” governorates.. Budget schedules are preparing for a “storm” o Empty A frightening deficit” and “oppressed” governorates.. Budget schedules are preparing for a “storm” o

    Post by Rocky Fri 31 May 2024, 9:57 am

    A frightening deficit” and “oppressed” governorates.. Budget schedules are preparing for a “storm” of Monday’s session
    • 05/31/2024 


      
    {Reports: Al-Furat News} Report: Wafaa Al-Fatlawi
    A useful summary of important news can be found on the Al-Furat News channel on Telegram. [You must be registered and logged in to see this link.]
    Although the federal budget was approved for three years 2023-2024-2025; However, the schedules for each budget always cause controversy between the governorates and the Ministry of Finance, representing the federal government, which prompts the political blocs, governors, and provincial councils to mobilize their meetings in the capital, Baghdad, to demonstrate their actual need for the funds allocated for the purpose of completing the projects planned in the 2023 budget, and this is what actually happened. When the 2024 budget schedules arrive in the corridors of the House of Representatives.
    Following in the footsteps of the situation, the Chairman of the Finance Committee, Atwan Al-Atwani, announced the receipt of the tables for the general budget for the year 2024 after their arrival from the Presidency of the Council of Ministers, and the completion of the study and analysis of the tables, while revealing that they were devoid of salary scales or new appointments due to the presence of a legal article in the previous budget that stopped all appointments. .
    Transparent details:
    This is what the financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed {to Al-Furat News}, that the financial tables currently presented in the 2024 budget to the House of Representatives included transparent details regarding the two parts, operational and investment spending.
    Saleh said, “It is no secret that the federal general budget has gained its legislative basis for three years {2023-2024-2025} based on the provisions of Law No. 13 of 2023, and the country is proceeding for the first time in its financial history with a medium-term financial plan for a period of three years and continuously.” In implementation, this is based on basic principles established by Law No. 13 of 2023 {the tripartite federal general budget}, whether in terms of public revenues or expenditures, both {operational and investment} or deficit estimation and management.”
    He pointed out that “there is an article placed in Law No. 13 of 2023 referred to above, which is Article 77/Second, which obliges the executive authority to submit financial tables showing the movement of revenues, expenditures, and the expected deficit in the years 2024 and 2025, in order to approve those adaptations within the scope of the legislation mentioned in The aforementioned law, and based on the above, the financial tables currently presented to the House of Representatives included transparent details regarding the two parts, operational and investment spending.
    Saleh explained, “What the executive authority is looking forward to is the importance of ratifying the financial schedules presented for approval by the House of Representatives regarding major new investment projects that require specific allocations and some operational expenses such as job grades,” noting that work is underway on ongoing projects whose funding has been previously determined and will not It stops, including investment projects whose funds are allocated to regional development funds.
    He concluded his speech by saying, “Despite the above, the speedy approval of the financial schedules will provide investment at the present time in the interest of accelerating the pace of sustainable development in its optimal form, while showing that the ministries’ allocations in the investment aspect are federal expenditures whose positive effects pertain to all governorates.”
    The 2024 budget, according to what Prime Minister Muhammad Shiaa Al-Sudani announced, amounts to 211 trillion dinars, and employee salaries for the year 2024 amount to 62 trillion dinars, while the 2023 budget amounted to 199 trillion dinars and employee salaries amounted to 59 trillion dinars.
    According to Al-Sudani, the revenues of the 2024 budget are estimated at 144 trillion and 336 billion dinars, while expenditures amount to 210 trillion and 936 billion dinars, while the deficit is 63 trillion and 599 billion dinars.
    Al-Sudani said, “The governorates’ allocations to local government programs with an investment allocation amounted to 10.633 trillion dinars in 2023, and we financed 3.333 trillion dinars, based on fundamental requests from the governorates,” adding, “The remainder of the allocation is 7.333 trillion dinars in a trust account, At the disposal of the provincial governments.
    Do not pay off debts.
    In light of this, a member of the Basra Provincial Council, Hassan Shaddad, expressed his strong dissatisfaction with what was allocated to the governorate in the 2024 budget, describing it as “do not pay off corporate debts.”
    Shaddad said {to Al-Furat News} that: “The issue of financial allocations to Basra Governorate would have been a major priority in the current budget as it is the economic capital of Iraq.”
    He added, "Note that Basra Governorate has many completed projects that are still being completed, in addition to the projects included in the financial plan, and that its current budget is only sufficient to pay off the accumulated debts owed by the governorate to the companies implementing a group of projects, especially vital and service projects, such as water networks, hospitals, and construction." Government institutions and the rehabilitation of another part of them.
    Shaddad added, "80% of Iraq's budget is fed by Basra through ports and oil companies."
    He described it as "scary"
    While experts attributed the reasons for reducing provincial budgets to filling the budget deficit, which amounts to more than 60 trillion dinars.
    Economist Bask Jamil Antoine explained {to Al-Furat News} that: “The budget allocations for last year and food security have so far remained unspent, and almost half of the period has now ended, and the amount allocated to the governorates meets the need if it is used in the optimal way.”
    Antoine described the large budget deficit, which reached more than 60 trillion dinars, as “very frightening,” and that the government is trying to reduce this deficit by reducing the provinces’ shares in addition to stopping appointments.
    While the oil expert, Hamza Al-Jawahiri, considered the budget estimate of the price of a barrel of oil at about $71 “unnatural.” 
    Al-Jawahri said {to Al-Furat News} that: “It is very difficult to estimate the price of a barrel of oil in the budget, as it was estimated at $71 per barrel, while the price of a barrel is currently about $80, from which the costs of kerosene, production, and development are extracted. It is unreasonable to work at this price in the budget, which is unreasonable.” natural".
    He explained, "It is normal for the price of a barrel of oil to be 50-52 dollars, and this money is also supposed to go to the development fund that includes all sustainable development projects such as tourism, agriculture, industry, and reconstruction."
    The Parliamentary Legal Committee expects to set a date for the Parliament’s voting session on the federal financial budget schedules for the year 2024 next week, as the legislative term has been extended, so the sessions will be present.
    Committee member, Muhammad Al-Khafaji, said {to Al-Furat News}, “The extension of the term was for many matters, including the budget and other important laws that were legislated, as well as laws that will be presented for a second reading and legislation.”
    The Iraqi Council of Representatives decided to extend its first legislative term for the third legislative year of the fifth electoral cycle for a period of 30 days in order to vote on the 2024 budget schedules.
    The House of Representatives is scheduled to vote on the budget schedules in its session next Monday, according to the session’s agenda published by the Parliamentary Information Department on Friday, amid expectations that it will face a stormy wave of objections to it, especially from provincial representatives who feel the “unfairness” of the allocations to their provinces.
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