KTFA:

Samson:  A political agreement to pass the budget during today's session

03/31/2021 15:57:56

A representative source revealed a political agreement to pass the fiscal budget bill for 2021 during the parliament session scheduled to be held today, Wednesday.

  The source told {Al-Furat News}, "The legal quorum for holding the session is nearing completion, while the members of the Parliamentary Finance Committee went up on the parliament platform in preparation for holding the session, reading the budget materials and voting on them." The Presidency of Parliament announced yesterday that it will publish the names of MPs from attendance and absence in today's session on voting on the budget.

The Finance Committee distributed the final draft of the budget to the deputies.   LINK

Samson:  The Parliament might switch the oil trading currency to the Iraqi dinar, MP says

31st March, 2021

The Parliamentary Finance is considering a proposal to switch the oil trading currency to Iraqi dinar in lieu of US dollar in the accounts of the 2021 Federal Budget bill.

Committee member, MP Muhammad al-Shabaki, said in a statement to Shafaq News Agency, "We have a proposal to change the price of the oil barrel," indicating, "[according to this proposal] the barrel is priced by Iraqi dinar not US dollar as in the previous years' budgets." "The barrel of oil pricing will be changed from 45$ at 65 thousand dinars," he added.

Al-Shabaki explained, "this would not tamper with the operational and investment expenses in the budget." "The Ministry of Finance ensured that there is no technical impediment against this step," he elaborated, "this proposal is the most consistent with the constitution because it preserves the Iraqi currency."

Iraqi lawmakers failed to pass the Federal Budget bill in a lengthy session on Sunday earlier this week. They will convene this evening to vote on the pending issues.    LINK

4Cash:  IMO this tells me they are International changing barrel of oil from USD to Dinars. Drop the three zeros now and oil would be 65 dinars per barrel.

DeepWoodz:  Yes!!! An aspect I hadn’t even thought of but me thinks is VERY AWESOME!!!
Thats one sure fire way of making it “$100 a barrel” .....the benchmark would be around 69 IDN per barrel = $100.05 @ PP of $1.45 per dinar.

************

Samson:  Parliament transfers the budget from the dollar to the dinar to overcome the dispute

03/31/2021 17:10:06

 The House of Representatives decided in its meeting held today, Wednesday, to convert the federal budget for 2021 from the dollar to the Iraqi dinar.

A representative source said {for the Euphrates News} that "it was agreed to transfer the budget from the dollar to the Iraqi dinar, in order not to delay its approval and isolate it from the differences of the rise of the dollar."

He pointed out that "a proposal was made to follow up on the issue of the dollar with the central bank and finance in other sessions without marketing the crisis to the budget after it was agreed to transfer the budget from the dollar to the dinar."  LINK

4Cash:  Thanks Samson IMO another good article pointing in the direction we need to go International

************

Samson:  The House of Representatives votes on Article 2 of the Federal Budget Law of the Republic of Iraq for the year 2021

03/31/2021 17:37:59

 The House of Representatives voted on Article 2 of the Federal Budget Law of the Republic of Iraq for the year 2021   LINK

The House of Representatives votes on Article 3 of the Federal Budget Law of the Republic of Iraq for the year 2021  LINK

Parliament votes on Article 4 of the General Budget Law  LINK

Parliament votes on Article 5 of the General Budget Law  LINK

Parliament votes on Articles 6 and 7 of the General Budget Law   LINK

Parliament votes on Article 8 of the Budget Law  LINK

Parliament votes on Article 9 of the General Budget Law  LINK

Parliament votes on Article 10 of the Budget Law  LINK

Parliament votes on Article 12 of the Budget Law  LINK

Parliament votes on Article 13 of the Budget Law  LINK

Parliament votes on Article 14 of the Budget Law  LINK

Parliament votes on Article 15 of the budget law on the revenues of the Media and Communications Authority   LINK

Parliament votes on Article 16 of the budget for wages for collecting water, electricity and services  LINK

DCDriver:  WOW they are actually voting. It's a new day!

Osmosis:  Which article is hiding the rate?

Jerry1971:  THE KURDS FINALLY GETTING THEIR DUE SHARE OF THE BUDGET VOTED UPON TODAY  ALSO GREAT SEE THE BUDGET ARTICLES BEING VOTED IN A SWIFT MANNER ALL BEING VERY GOOD FOR THE DESERVING PEOPLE OF IRAQ IMO.   

Samson:   Parliament votes on the last articles of the budget 56, 57 and 58  LINKLINK

Samson:  Parliament votes on the region’s share in Article 11 of the budget

03/31/2021 18:00:06

 The House of Representatives voted on Article 11 of the draft Federal Budget Law for 2021, related to the dues of the Kurdistan region..

Translation.....

Committee's proposal Article 1 - First: Dues are settled between the federal government and the Kurdistan region for the years from 2004 to 2010 after the Federal Office of Financial Supervision, in coordination with the Regional Office of Financial Supervision, investigated them to show the final accounts approved by the Federal Office of Financial Supervision of the financial revenues and expenditures achieved after  Exclusion of sovereign expenditures and what has been spent for the region within the governing expenditures: 

 The Kurdistan Regional Government is committed to producing crude oil from its fields at a rate of quantities of not less than 60 thousand barrels per day.  The allocations of the region’s share of the petro cover provided that the quantities delivered are not less than the sums realized from the sale of 250 thousand barrels of crude oil per day at the price of SOMO.  Paragraph (a) above shall be implemented in coordination between the Federal Ministry of Oil and the Ministry of Natural Resources in the Kurdistan Regional Government.

Is committed to the Kurdistan Regional Government to deliver non-Auto revenues to the state treasury and according to the Federal Financial Administration Law, provided that the Federal Office of Financial Supervision in coordination with the Office of Financial Supervision in the region to achieve data related to those revenues. 

D- The Kurdistan Regional Government has settled from the Iraqi Trade Bank's balances with government and private banks, and the Ministry of Finance schedules monthly installments to be deducted from the region’s share, starting from the fiscal year 2021 for a period of 7 years. 

 E - The federal government is obligated to pay the Kurdistan Region's dues contained in this law and the tables attached to it after the region has implemented paragraphs (A, C,) of this Article

Third - obligating the Kurdistan Region to provide the Federal Ministry of Finance after auditing the Federal Office of Financial Supervision in coordination with the Office of Financial Supervision  In the region, the staffing of the formations affiliated to it (civilian - military) is distributed according to the degree, vacant and occupied job title, and gender according to the numbers specified for it according to the  schedule) Manpower (c) attached to this law no later than 6/30/2021

Fourth - The Kurdistan Regional Government’s crisis  Paying the region’s employees' salaries dues from the specializations determined within the region’s budget appropriations (employee compensation) and before any payment order for any other compassion from its current budget.   LINK

DeepWoodz:  This one has been the talk of the town!

************

Don961:  Mustafa Al-Kazemi: The decision on the dollar’s ​​exchange rate was taken by the Central Bank

Wednesday 31st March 2021  Baghdad: Morning

Prime Minister Mustafa Al-Kazemi demanded, on Tuesday, to stay away from auctions in the issue of the dollar exchange rate, stressing that the decision was taken by the Central Bank according to a purposeful vision and strategy, and we began to see the results on the growth of monetary reserves, and on Iraq's international credit rating.

Al-Kazemi said, during the regular session of the Council of Ministers: “Challenges continue in the country due to the nature of the situation, which requires the solidarity and cooperation of everyone to overcome them,” expressing his “aspiration to expedite the passage of the Federal Budget Law, and the paragraphs it contains that address the needs of the poorest classes and support projects Service affecting the citizen’s life ».

He called on all ministries to "work with all their efforts to support the Ministry of Trade in order to distribute the ration card items among citizens and not give some merchants an opportunity to exploit the citizens' needs." 

Some dealers ».

He added that "the ministries must work diligently to support reform decisions according to the strategy prepared for them, and pressures must be faced with patience and work." On the other hand, a spokesman for the Prime Minister, Dr. Hassan Nazim, Minister of Culture and Antiquities, said that Al-Kazemi called on the Ministry of Trade to support the ration and that there are measures in the ministry to meet the ration now and at the beginning of the month Ramadan   LINK  

Samson:  The General Secretariat affirms that there is a great desire to activate joint agreements

31st March, 2021

The General Secretariat of the Council of Ministers confirmed, on Wednesday, that there is a great desire among the governments of Iraq, Jordan and Egypt to activate joint agreements between the three countries

The spokesman for the General Secretariat of the Council of Ministers, Haider Majeed, said in an interview with Al-Sabah newspaper, which was seen by Al-Iqtisad News, that “after the tripartite summit held in Jordan last year, and based on this summit and its outputs, Iraq established the Iraqi-Jordanian-Egyptian Coordinating Council. There were several meetings between delegations and mutual visits, either in attendance or via closed-circuit television, and a number of joint memoranda of understanding were signed, in several fields, including energy, industry, trade, agriculture and health. He pointed out that "an Iraqi delegation visited Cairo last December, while another delegation visited Amman last week
 
Majeed explained, "Preparations are continuing to activate these agreements on the ground, and there is a common desire among the three governments to activate these agreements and accelerate them, especially in the housing sector in which the activation of the construction of residential complexes was discussed, especially the stalled ones, whose completion rates vary between 70 To 80 percent and above

The foreign ministers of Iraq, Jordan and Egypt, after their meeting in Baghdad yesterday, confirmed their aspiration to hold the tripartite summit in Baghdad as soon as possible. He added, "At the present time, there is an agreement with the Egyptian Ministry of Reconstruction, specifically with the Egyptian government companies, to implement housing complexes, infrastructure, roads and bridges projects in Baghdad and the governorates and to complete work on them," noting that "these projects will provide job opportunities, especially since we have many competencies." And the workforce will be present at work, and this is the nature of agreements and memoranda of understanding in force in all countries of the world in bringing in investment companies, especially since there are many projects that are stalled and lagging for financial reasons, in addition to the fact that last year’s budget was not approved, and now we need to turn the wheel of reconstruction and development
 
A spokesman for the General Secretariat revealed, "There are agreements in the field of health with Jordan related to the exchange of expertise, pharmaceutical industries, and academic fellowships, and the recruitment of doctors to perform surgical operations, as well as the establishment of a joint industrial city," noting that "many sectors were included in the agreements between the three countries

Regarding the reconstruction file, Majeed also confirmed, "The government and the Supreme Committee for Services and Construction have followed up on many projects during the past few years, and many of these projects, which have been stalled since 2008, have been moved, especially in Dhi Qar Governorate, as three projects have been launched:" Rehabilitation Al-Nasr Bridge, the rehabilitation and cladding of the Al-Badir Al-Fajr road called (Death Road), in addition to the reform water project, which has reached nearly 98 percent completion and will be opened soon, in addition to the near opening of a vital concrete bridge and the Turkish hospital, which has been suspended for many years LINK

************

Samson:  Iraq and Saudi Arabia sign 5 agreements

03/31/2021 18:13:50

Iraq and Saudi Arabia signed 5 agreements in the presence of Prime Minister Mustafa Al-Kazemi and Saudi Crown Prince Mohammed bin Salman.

Bin Salman had received Al-Kazemi today, Wednesday, upon his arrival in Riyadh on an official visit to Riyadh, where they held a session of talks focused on increasing cooperation between the two countries in addition to the latest developments in the region.

Meetings were held at the coordination council level between the two countries, where 5 agreements were signed, in financial, commercial, economic, cultural and media fields. The Iraqi delegation also included governors of border provinces with Saudi Arabia to discuss increasing border crossings between the two countries.

The Saudi ambassador to Iraq, Abdulaziz Al-Shammari, said earlier that Al-Kazemi's visit to the Kingdom today "is important and comes at an important time. A number of political, security and economic issues will be discussed, and a number of agreements will be signed in several areas."   LINK