"Tidbits From TNT" Friday Morning 6-16-2023
TNT:
Tishwash: Parliamentary Finance announces the arrival of the budget law to the Presidency of the Republic
Today, Friday, the Parliamentary Finance Committee announced the arrival of the budget law to the Presidency of the Republic.
The head of the Parliamentary Finance Committee, Eng. Atwan Al-Atwani, said in an interview with Al-Iraqiya News Channel, which was followed by "Al-Eqtisad News", that "the budget has been audited by the Legislation Department, renumbered by the Finance Committee, and sent to the Presidency of the Council," pointing out that "the Presidency of Parliament sent the budget law in its final version to Presidency" .
He pointed out that "the budget in its new version included 78 articles, and that all the original, amended and new paragraphs and materials that were read in the voting sessions on the budget became in the budget link
Tishwash: Legal expert: The arrival of the budget to the Presidency of the Republic is considered approved, even if the President does not approve it
The legal expert, Counselor Salem Hawas, confirmed that the budget's arrival to the President of the Republic, after fifteen days have passed, is considered approved, even if the President did not approve it.
The legal expert said in a statement, "It is true that the President of the Republic has the constitutional right to ratify death sentences or not, as it is a discretionary authority for him, and his lack of ratification according to Article 73 of the Constitution has no power. However, this text differs in other clauses in the president's powers over laws and legislations. Including the budget law, which has an important impact.
Hawass added, "The president has a discretionary power in judgments because it is not obligatory for him and is not obligatory for him to ratify during a certain period, while the same article made the president's approval of laws, including the budget legislated by parliament, permissive, and therefore laws are considered effective with the passage of the fifteen constitutional period." a day.
And he continued, "The constitution counted the laws that were not ratified by the President of the Republic, as soon as the specified period lapsed, based on the provisions of Article 73 / Third of the Constitution, which stipulates that the laws enacted by the House of Representatives shall be ratified and promulgated, and they shall be considered ratified after fifteen days have passed from the date of their receipt. link
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CandyKisses: : Kurdish parliamentarian: June is the last month in which the region's salaries are delayed
Baghdad Today - Baghdad
Sabah Hassan, a former member of the Finance Committee in the Kurdistan Regional Parliament, confirmed that this is the last month in which the process of paying the salaries of the region's employees is delayed.
Hassan told Baghdad Today: "June is the last month in which there is a problem in the process of distributing the salaries of employees in the region, after the approval of the budget and the sending of Kurdistan's share by Baghdad."
"If the federal government commits to sending the monthly quota to the region on a regular basis, there will be no problem with the process of paying employees' salaries," he said.
It is noteworthy that for years, employees in the Kurdistan region have been suffering from delayed salaries for more than 45 days, due to the financial crisis and the lack of agreement with the federal government.
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CandyKisses: The euro is at the highest levels against the dollar and the yen
The euro recorded its highest level in 15 years against the yen and the highest level in four weeks against the dollar, after the European Central Bank raised interest rates and signaled further tightening with the aim of reducing inflation in the euro area to the medium-term target level of two percent.
The ECB raised interest rates by 25 basis points, in line with expectations, in the eighth consecutive increase to 3.5 percent, the highest level in 22 years.
In mid-morning trading in the United States, the euro rose 0.5 percent to $1.0887 after earlier touching a four-week high of $1.0894.
Against the yen, the euro rose 0.8 percent to 152.97 yen after hitting 153.39 yen, its highest since September 2008, following the ECB decision.
The dollar index, which measures the greenback's performance against a basket of other major currencies, fell 0.2 percent in its latest trade to 102.76.
The ECB's move came the day after the Federal Reserve fixed interest rates and signaled a possible rate hike again this year.
The dollar index, which measures the greenback's performance against a basket of other major currencies, fell 0.2 percent in its latest trade to 102.76.
The dollar briefly pared losses after data showed U.S. retail sales unexpectedly rose in May, rising 0.3 percent last month after rising 0.4 percent in April. Economists polled by Reuters had expected sales to fall 0.1 percent.
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