KTFA Members "News and Views" Tuesday 6-13-2023

KTFA:

Clare:  A representative source for Al Furat News: Sending the budget to the Presidency of the Republic today  

6/13/2023

A representative source revealed the date of sending the tripartite financial budget bill to the Presidency of the Republic.

The source told {Euphrates News} agency that: "The general budget for the year 2023 will be sent to the Presidency of the Republic today for the purpose of approving it within 15 days, after which it will be published in the Official Gazette to be effective."

And the House of Representatives, at dawn yesterday, Monday, approved the draft federal budget law for the fiscal years 2023-2024-2025, after more than 4 days of holding sessions since last Thursday.

The value of the current year’s budget is 197 trillion and 828 billion dinars (about 152.2 billion dollars), with a total deficit of 63 trillion dinars (48.3 billion dollars), while the items of the 2023 and 2024 budgets have not been published.

 For his part, Prime Minister Muhammad Shia al-Sudani confirmed, in a statement today, that "the government will work to review the items that have been amended in the budget and study the extent of their conformity with the government's vision and objectives approved in the ministerial curriculum approved by Parliament."

Raghad Daham     LINK

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Suzie:  With JP Morgan coming into Iraq now and countries pouring in to do business, everyone should be done frothing at the mouth over the budget by now, it's time to release the kracken and show the rate internationally if they're going to play ball and get on board with the rest of the world....just sayin"....

Scarlett10: IMO  They have to show us the rate from now till June 16. How can they have such an important meeting claiming that Iraq is open to the rest of the world on June 16 without a strong currency to back them. Praying we will see something in the coming days. 

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Clare:  Shafak News publishes the text of the tripartite budget law for the Iraqi

6/13/2023

Shafaq News Agency publishes the text of the general federal budget law, "with three years 2023,2024,2025" for the Iraqi state, which the House of Representatives voted on at dawn on Monday, the twelfth of June, after discussions that lasted for five days.

The value of the current year's budget is 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit of 63 trillion dinars (48.3 billion dollars).

And the Iraqi Prime Minister, Muhammad al-Sudani, confirmed that his government will review the parliamentary amendments that were made to them and the extent of their conformity with the government's goals.

Here is the text of the law     LINK

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Clare:  Al-Halbousi to the American Chamber of Commerce delegation: Conditions are now ripe for economic work in Iraq

6/13/2023

Parliament Speaker Muhammad Al-Halbousi received, today, Tuesday, a delegation from the American Chamber of Commerce, which included a large group of companies specialized in various fields, headed by the President of the American-Iraqi Business Council, Steve Lotus, and in the presence of the Chairman of the Investment Committee and the Vice-Chairman of the Economic Committee Parliamentary industry and commerce.

A statement from his office, a copy of which {Euphrates News} received, stated that: "The meeting discussed strategic cooperation and strengthening bilateral relations in the economic aspect between Iraq and the United States of America."

Al-Halbousi listened to a review by members of the delegation of existing investment opportunities and proposed projects in the field of health, energy, banking system, infrastructure, services, and others, stressing that "Iraq is open to foreign companies, provides the necessary facilities for investment in various fields, and works to provide the appropriate environment for international companies through the necessary legislation." ".

He also pointed out that "the conditions are now ripe for economic work in Iraq, and there are many investment opportunities and important projects within the government's vision and its executive program, which were approved within the Federal General Budget Law."  LINK