Monday Morning Iraq Economic News Highlights 6-5-23

Monday Morning Iraq Economic News Highlights 6-5-23

Parliamentary Finance: Political Agreements Regarding The Budget "Have Not Been Decided Yet"

Information / Baghdad...  A member of the Parliamentary Finance Committee, Mustafa Al-Karawi, confirmed, on Monday, that the political agreements regarding the budget did not reach the stage of passing.

Al-Karawi told Al-Maalooma, "The budget amendments, from a technical point of view, are supposed to be in the hands of the Parliamentary Finance Committee, as it undertakes to make the amendment, vote on it, and pass it within the House of Representatives."

He added, "The agreements between the political parties on budget amendments are not considered constitutional agreements, but the reality of the situation in the country requires the members of the Finance Committee to be influenced by the leaders of the political blocs, as ideas and visions are ripened to be reflected in the Finance Committee."

And Al-Karawi said, "The agreements between the political parties are still immature and have not reached the final results, and then they are referred to the Presidency of Parliament to set a date for the voting session."   LINK

Parliamentary Finance: The Legislative Term Will Not Be Suspended Without Passing The Budget

Information/Baghdad.. The Parliamentary Finance Committee denied Parliament's intention to announce the legislative recess before the completion of the budget law.

Committee member Iman Abdel-Razzaq said, in a statement reported by "Al-Sabah", which was seen by Al-Maaloumah, "The legislative term will remain open until the budget is approved, as the parliament is not obliged to take its vacation after the ninth of this month, but rather waits until the budget is approved."

She added that "there are no initiatives or agreements regarding the budget," expressing her regret for this situation, as the entire people are waiting for passage.

"The legislative term has been extended in order to approve the budget law, since the interests of the people in terms of investments or appointments are all suspended until the law is passed," she added. LINK

A Compromise Between The Political Forces To Pass The Budget This Week

Information/Baghdad..  The representative of the Sovereignty Alliance, Adnan Al-Juhaishi, revealed, on Monday, a political agreement between the political forces and parties to legislate the budget law during the current week. 

Al-Juhaishi said in an interview with Al-Maalouma Agency, "The political settlement is the available solution through which the federal budget law for the year 2023 can be legislated."

He added, "The Iraqi street is waiting for the approval of the budget by Parliament, and most of the political forces are seeking to approve it during the current week."

He pointed out that "the continuation of efforts for a political settlement through budget legislation and resolving all controversial points regarding the law."

The representative of the Kurdistan Democratic Party, a member of the Oil and Gas Committee, Sabah Sobhi, confirmed, on Monday, that the political forces had not reached a final agreement regarding the share of the region, calling on the Finance Committee to adopt the formula of the agreement signed with Prime Minister Muhammad Shia Al-Sudani regarding the export of oil. LINK

Deputy For Al-Barti: Approval Of The Budget Is Associated With The Political Agreement To Return The Text Of The Government To Finance

A member of the Finance Committee in the Federal Parliament, Siban Sherwani, said today, Monday, that in order to rectify the situation, the two parties must return to the text contained in the 2023 agreement between Erbil and Baghdad, regarding the share of the Kurdistan region’s budget.

 And he added, in a statement to KDP-affiliated media, followed by Al-Mutala, that: "The parties in the administration of the state are negotiating to make changes, and our demand is that the project that came from the government be implemented as it is."

Sherwani explained, "The government is the executive party and will decide whether it can implement those points or not, so we must go back to the government's text, because in fact they are implementing it."

 And he stressed: "No date has been set for the meeting yet, and when a political agreement is reached to return the text of the government to the Finance Committee, the parliamentary meeting will be determined and the budget will be approved."   LINK

Parliamentary Finance: The Budget Will Not Be Approved This Week, And The Parties Are Required To Concede In The Interest Of The People

Parliament announced that it would keep its legislative session open "without a holiday" until the approval of the budget, which was halted due to political differences regarding its items. For those quantities or their establishments, as well as the relationship between the federal government and Erbil regarding the management of oil revenues from exports and other details contained in the articles of the region in the budget (12-13-14), and the disputes led to the disruption of the activities of the Finance Committee that was about to send the budget to Parliament To select and acknowledge a session.

 A member of the Parliamentary Finance Committee, Iman Abdel-Razzaq, said, in a statement to the official newspaper, followed by Al-Mutala, that: “The legislative term remains open until the budget is approved, as the parliament is not obliged to take its recess after the ninth of the current month of June – the date of a month’s passage since the extension of the legislative term – and It is waiting until the budget is approved.

The member of the committee criticized the current reality of the budget discussions, and said: "So far, there have been no initiatives or agreements regarding the budget," expressing her regret for this situation, "as the entire people are waiting for this project," and noting that "the agreements are now taking place in (closed rooms, And not in the Finance Committee that completed the items of the budget, but disagreements over some articles that paralyzed the movement of the committee and the budget became in the hands of the political blocs.

 And she continued, "The legislative term has been extended in order to approve the budget law, and everything is currently suspended waiting for it, so there is no investment, appointments, or contracts due to political differences." News about the agreement between them, and we do not believe that the budget will be approved during the current week.   LINK

The Democrat Announces A Preliminary Agreement To Pass The Budget[/Size]

Information/Baghdad..   The representative of the Kurdistan Democratic Party, a member of the Oil and Gas Committee, Sabah Sobhi, confirmed, on Monday, that the political forces had not reached a final agreement regarding the share of the region, calling on the Finance Committee to adopt the formula of the agreement signed with Prime Minister Muhammad Shia Al-Sudani regarding the export of oil.

Sobhi said in an interview with Al-Maalouma agency, "The Parliamentary Finance Committee's changes to the draft federal budget violated the agreement of Prime Minister Muhammad Shia'a al-Sudanese regarding the export of Kurdistan's oil."

He added, "There is an initial rapprochement between all political forces, and they need to mature those understandings in order to announce the final understanding to pass the budget," noting that "the government is not ready to add new financial allocations that burden the budget.”

He pointed out that "negotiations are still ongoing and we expect the budget to be passed soon," stressing that "the last node is Articles 13 and 14 within the budget."

The representative of the Sovereignty Alliance, Adnan Al-Juhaishi, revealed, in a previous interview, a political agreement between the political forces and parties to legislate the budget law during the current week. LINK

Parliamentary Finance: The Legislative Term Will Not Be Suspended Without Passing The Budget[/Size]

Information/Baghdad..   The Parliamentary Finance Committee denied Parliament's intention to announce the legislative recess before the completion of the budget law.

Committee member Iman Abdel-Razzaq said, in a statement reported by "Al-Sabah", which was seen by Al-Maaloumah, "The legislative term will remain open until the budget is approved, as the parliament is not obliged to take its vacation after the ninth of this month, but rather waits until the budget is approved."

She added that "there are no initiatives or agreements regarding the budget," expressing her regret for this situation, as the entire people are waiting for passage. "The 

legislative term has been extended in order to approve the budget law, since the interests of the people in terms of investments or appointments are all suspended until the law is passed," she added. LINK

Parliamentary legislative season {open} until approval of the budget

Baghdad: Shaima Rashid   Parliament kept its legislative session open "without a holiday" until the approval of the budget, which was halted due to political differences regarding its items. After the Finance Committee completed voting on most of its items, it collided with the region's refusal - specifically the Democratic Party - the mechanism for calculating the quantities of oil produced in the region and the party receiving those quantities or establishing them.

As well as the relationship between the federal government and Erbil regarding the management of oil revenues from exports and other details included in the articles on the region in the budget (12-13-14), and the disputes led to the disruption of the activities of the Finance Committee, which was about to send the budget to Parliament to set a session and approve it.

A member of the Parliamentary Finance Committee, Iman Abdel-Razzaq, said in an interview with “Al-Sabah”: “The legislative term remains open until the budget is approved, as the parliament is not obliged to take its recess after the ninth of the current month of June – when a month has passed since the extension of the legislative term – but rather waits until Approval of the budget.

The committee member criticized the current reality of the budget discussions, and said: "So far, there have been no initiatives or agreements regarding the budget," expressing her regret for this situation, "as the entire people are waiting for this project," and noting that "the agreements now take place in (closed rooms, not In the Finance Committee, which completed the items of the budget, but disagreements over some articles that paralyzed the committee’s movement, and the budget became in the hands of the political blocs.

And she continued, "The legislative term has been extended in order to approve the budget law, and everything is currently suspended waiting for it, so there is no investment, appointments, or contracts due to political differences." News about the agreement between them, and we do not believe that the budget will be approved during the current week.    https://alsabaah.iq/78345-.html