Monday Morning Iraq Economic News Highlights 3-13-23
Monday Morning Iraq Economic News Highlights 3-13-23
When Does The Budget Enter Into Legislation And Implementation At The Same Time? The Economic Advisor Answers
2023.03.13 - 09:14 Baghdad - Nas Mazhar Muhammad Salih, the economic advisor to the Prime Minister, suggested that the country's general budget would enter into legislation and implementation at the same time. Saleh said in a statement to the official newspaper, followed by “Nass” (March 13, 2023), that “given that the country entered the end of the first quarter of the year 2023, and after the end of the fiscal year 2022, which was devoid of a public budget law, and contented itself with the financial management law and the emergency law for food security as an alternative.”
Therefore, it has become certain that the submission of the draft federal budget law for the year 2023 will be expedited by presenting it at a meeting of the Council of Ministers for approval in principle in the coming days and sending it for legislation to the House of Representatives.
And Saleh suggested that “next April will witness the entry of the country’s general budget into legislation and implementation at the same time.”
For his part, Adviser to the Prime Minister Diaa al-Nasseri said, "The budget for the current year will be approved and will see the light in a special session of the Council of Ministers to be held (today, Monday)," adding that "the budget for the current year is expected to be a smart budget and a project budget."
For his part, the former director of the Office of Financial Supervision, Salah Nuri, confirmed that “the features and data of the budget indicate that it will be more operational, due to the large number of appointments it included, the confirmation of contracts and other holders of higher degrees, and the confirmation of the first.”
He pointed out that “even if an investment budget is issued in the country, implementation is always low, as over many years its investment implementation does not exceed 40 percent of the original allocations, and what matters to us is implementation even if the budget was issued with a deficit.”
In addition, a member of the Parliamentary Finance Committee, Mueen Al-Kadhimi, said: “The government of Prime Minister Muhammad Shia’a Al-Sudani made appointments that represented the transfer of contractors to permanent staffing,” noting that “the draft federal budget law for the year 2023 will be devoid of new job grades, with the exception of the degrees of deletion and replacement that It will be available after retiring a large number of employees during the current year,” according to the newspaper.
Yesterday, Sunday, the Ministry of Finance completed the draft federal budget law for the current year 2023 and sent it to the Council of Ministers for the purpose of holding a special session to vote on it, at a time when Diaa Al-Nasseri, Advisor to the Prime Minister, announced that the Council will hold a special session to discuss the budget today, Monday, and send it after voting to the Council. deputies.
Finance Minister Taif Sami said, in a statement: “The draft federal budget law for the year 2023 was completed and sent to the Council of Ministers for the purpose of discussing and voting on it,” noting, “The completion of preparing the project comes under exceptional circumstances in the global economy, and it came to deal with With the effects of international, regional and local economic challenges. She added, "The next draft budget will focus on development priorities, support for the social protection network, and the most needy groups," noting that "providing a safe cover for strategic and sustainable development projects."
She emphasized, "We have worked throughout the past months of the new government's life to extract a budget that responds to the needs of the Iraqi economy and is consistent with the plans of the government curriculum and the package of financial and economic reforms that the ministry is working to achieve." https://www.nasnews.com/view.php?cat=103708
The Council Of Ministers Approves The Draft Budget Law For Three Years
Time: 03/13/2023 13:48:42 Read: 1,066 times {Economic: Al Furat News} The Council of Ministers approved the draft federal budget law for the fiscal years 2023, 2024 and 2025.
Today, Monday, the Council held its regular session on the budget, headed by Prime Minister Muhammad Shia'a Al-Sudani.
The Council of Ministers referred the draft budget law for the three consecutive years to the House of Representatives for discussion and approval.
Al-Sudani will head tomorrow to the Kurdistan region and will discuss a number of files, most notably the budget, the oil and gas law, and the rest of the contentious files and issues between Baghdad and Erbil. LINK
The Council Of Ministers Approves The Budget And Transmits It To The House Of Representatives
Monday 13 March 2023 13:51 | politics Number of readings: 135 Baghdad / NINA / The Council of Ministers approved the draft federal budget law for the fiscal years 2023, 2024 and 2025, in its regular session held under the chairmanship of Prime Minister Muhammad Shia Al-Sudani, and refers it to the House of Representatives. / End 9 • To receive more news, subscribe to our channel on
Parliamentarian Reveals The Details Of The Budget, Both Operational And Investment
On Sunday, the representative of the State of Law coalition, Muhammad Hassan al-Qadri, revealed the latest details and figures of the general budget law after sending it to the Council of Ministers, while confirming that the investment part of the general budget will be more than 30% in line with the government’s previously prepared program.
Al-Qadri said in a press interview seen by “Takadum”, that “the operational percentage of the general budget will be around 60%, which includes many paragraphs that included all the important joints,” noting that “the law to amend the salary scale is far from the budget because it is a single program.” The government sends it to Parliament to vote on it after the amendments made by the parliamentary committees according to the specialization.
And he continued, “The budget has an important need for the people, because it contains many paragraphs that many citizens are waiting for,” pointing out that “the oil and gas law is still suspended until now, and we hope to complete the amendments from its approval with the public retirement law during the coming period.”
And on the investment side of the government, according to the program that was voted on inside the dome of Parliament, Al-Qadri explains: “The investment part of the general budget will be at a rate of more than 30%, in line with the government’s previously prepared program.”
https://takadum-news.com/archives/154093
A Parliamentarian Reveals To /Nina/ The Reasons For The Delay In Sending The General Budget From The Government To Parliament, Despite Its Readiness
Monday 13 March 2023 09:05 | politics Number of readings: 395 Baghdad / NINA / - The representative of the State of Law Coalition, Thaer Makhaif, revealed the reasons for the delay in sending the state budget for 2023 from the government to Parliament, despite its readiness.
Makhaif said in a statement to the National Iraqi News Agency ( NINA ): “There are two main reasons for the delay in sending the budget from the government to parliament despite the completion of its paragraphs by the Ministry of Finance. The second is the region's share of the budget and the high ceilings in their demands from the federal government.
Makhaif explained, "Parliament needs a period of between four weeks or a little less to approve the budget as soon as it arrives from the Council of Ministers."
He stressed that the political consensus between the blocs will resolve the approval of the budget quickly./ https://ninanews-com.translate.goog/Website/News/Details?key=1040091&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en
An Economist For / Nina / The 2023 Budget Will Pass Without Checking Its Vocabulary
Monday 13 March 2023 07:47 | Economical Number of readings: 361 Baghdad / NINA / - The specialist in economic affairs, Dergham Muhammad Ali, confirmed that the delay in approving the budget will force Parliament to discuss it superficially without going through carefully its vocabulary.
Muhammad Ali said in a statement to the National Iraqi News Agency ( NINA ) that “the delay in the budget law so far does not give parliament enough time to discuss it and amend its items, especially if there is a financial side in those items that Returning it to the government requires amending its paragraphs and returning it again to Parliament, and this means the end of two seasons of the year without budget, which makes it difficult to benefit from the large investment segment specified in it.
He added, "Successive governments did not even present a budget for projects and were satisfied with balancing the classic items, which makes parliament's discussions superficial without passing through carefully its vocabulary."
The economist called for making allocations to complete the construction of electric power plants from simple cycle to full cycle to get the maximum benefit from gaseous fuel and reduce harmful emissions. The preparation of the draft budget is the responsibility of the Ministry of Finance, which in turn submits it to the Council of Ministers to enrich it and vote on it, before that it is referred to Parliament for legislation within a law,
And Iraq did not approve the draft budget for 2022 due to the political crisis that has gripped the country since the “early” elections were held on October 10, 2021.
The Decline In Dollar Prices In Baghdad And Erbil
2023-03-13 02:35 Shafaq News/ The exchange rates of the US dollar decreased against the Iraqi dinar, on Monday, in the main stock exchange in the capital, Baghdad, and in the Kurdistan Region.
Shafaq News agency reporter said that the central Al-Kifah Stock Exchange in Baghdad recorded an exchange rate this morning of 156,400 Iraqi dinars against 100 US dollars, while the prices on Sunday morning were 156,850 dinars against 100 dollars.
Our correspondent indicated that the buying and selling prices decreased in the exchange shops in the local markets in Baghdad, where the selling price reached 157,500 Iraqi dinars per 100 US dollars, while the purchase prices amounted to 155,500 Iraqi dinars per 100 US dollars.
As for Erbil, the capital of the Kurdistan Region, the dollar prices also recorded a decrease, as the selling price of the dollar reached 156,800 dinars per 100 US dollars, and the purchase price reached 155,800 dinars per 100 US dollars. LINK
Erbil Receives 400 Billion Dinars From The Central Government
Money and business Economy News-Baghdad The Ministry of Finance and Economy of the Kurdistan Regional Government announced, on Monday, that it had received 400 billion dinars from the federal government.
The ministry said in a statement received by "Al-Iqtisad News" that "within the framework of the agreement between the regional government and the federal government, 400 billion dinars have been received to finance employee salaries." He added, "The amount sent by Baghdad was transferred to the bank account of the region's Ministry of Finance." https://economy-news.net/content.php?id=32901
The 2023 Budget Is Awaiting A Government Vote
second and third 2023/03/13 Raghad Daham Yesterday, Sunday, the Ministry of Finance completed the draft federal budget law for the current year 2023 and sent it to the Council of Ministers for the purpose of holding a special session to vote on it, at a time when Diaa Al-Nasseri, Advisor to the Prime Minister, announced that the Council will hold a special session to discuss the budget today, Monday, and send it after voting to the Council. deputies.
Finance Minister Taif Sami said, in a statement: “The draft federal budget law for the year 2023 was completed and sent to the Council of Ministers for the purpose of discussing and voting on it,” noting, “The completion of the preparation of the project comes under exceptional circumstances in the global economy, and it came to deal with With the effects of international, regional and local economic challenges. She added, "The next draft budget will focus on development priorities, support for the social protection network, and the most needy groups," noting that "providing a safe cover for strategic and sustainable development projects."
And she emphasized, "We have worked throughout the past months of the new government's life to extract a budget that responds to the needs of the Iraqi economy and is consistent with the government's curriculum plans and the package of financial and economic reforms that the ministry is working to achieve."
In addition, the economic advisor to the Prime Minister, Mazhar Muhammad Salih, stated in an interview with “Al-Sabah” that “given that the country entered the end of the first semester of the year 2023, and after the end of the fiscal year 2022 and it was devoid of a public budget law and was satisfied with the financial management law and the emergency law.”
For food security as an alternative to the general budget in the conduct of the country's financial affairs, so it has become certain that the submission of the draft federal budget law for the year 2023 will be expedited by presenting it to a meeting of the Council of Ministers for approval in principle in the coming days and sending it for legislation to the House of Representatives. Edited by: Muhammad Al-Ansari https://alsabaah.iq/73206-.html