More Iraqi News Thursday PM 11-12-20
More Iraqi News Thursday PM 11-12-20
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Al-Halbousi Spokesman: The Borrowing Law Secured Salaries For Three Months
Economy Thursday 12 November 2020 | 12:36 PM| Views: 114 The spokesman for the Speaker of Parliament, Shaker Hamed, confirmed today, Thursday, that the salaries of employees will be disbursed within the next two days after the parliament votes on the borrowing law, while indicating that the parliament fulfilled its promise.
According to the official agency, Hamed said, "The council fulfilled its promise and commitment before its citizens to vote on the borrowing law in order to pay employees' salaries within the next two days, and it is the first goal to pass this law in addition to other goals related to supporting the national economy and protecting society in light of the current circumstances locally and internationally."
He added, "The continuation of the parliament session until late at dawn on Thursday is an insistence that the Presidency and Representatives strive to vote on the law with the aim of enabling the government to pay its obligations during the three months of this year and include the borrowing law for the rights of contract workers and daily wages in many state institutions and disbursing their dues." And everything related to the citizen’s livelihood, in addition to investment projects, regional development, the ration card, and service projects.
Shaker added, "The efforts and consultations of the House of Representatives, which continued in one session for more than twenty hours, in an unprecedented precedent for the Council's work, culminated in a vote on the government's request to borrow," noting that "there are no disagreements over the approval of the law, but rather there were differences over not restricting it."
The state makes loans and maintains the optimal use of resources, whether from the sale of oil and multiple national resources across the country, and pushes the government to present the budget for 2021 without debts in the coming years, and that the borrowing be in accordance with the main and governing needs in the state’s path to fill the deficit in the operational and investment budget. .
He pointed out that "Parliament added to the plan to finance the financial deficit the rights of contract workers and workers within this funding, and allocated governing sums to finance the construction of the large port of Faw," stressing that "Al-Halbousi had held multiple meetings during the lengthy session until late at dawn on Thursday with all the blocs."
Parliament chairs an important meeting with the Finance Committee to reach a formula that preserves the state’s resources and invested them in developing the national economy, preserving the citizen’s dignity, and implementing development programs in all fields.
Today, Thursday, the House of Representatives voted on the Deficit Financing Act.
At the outset of the session, Parliament Speaker Muhammad al-Halbousi, who presided over the session, indicated that "the law will pass either by consensus or by majority."
According to the text of the law, the value of the loan was reduced from 41 to 12 trillion dinars, with 20% of it allocated to investment projects.
The new law, after the amendments of the Finance Committee, included estimating the revenues of the last four months of this year at 10 trillion and 500 billion dinars instead of 19 trillion and 719 billion dinars, and the committee also estimated the total necessary expenditures during the same period at 22 trillion and 500 billion dinars instead of 57 trillion and 811 billion dinars. Dinar. https://aynaliraqnews.com/index.php?aa=news&id22=140763
Parliamentary integrity: 1 trillion and 190 billion dinars owed by Kurdistan to the central government every month
17:38 - 11/12/2020 Information / Special ...The Parliamentary Integrity Committee confirmed, on Thursday, that there are funds owed by the region, estimated at one trillion and 190 billion dinars each month, which Kurdistan is supposed to hand over to the central government.
A member of the Parliamentary Integrity Committee, Khaled Al-Jusaimi, told Al-Maalouma that "Kurdistan exports 500 thousand barrels of oil per day at a price of 40 dollars per barrel, equivalent to 20 million dollars a day and 600 million dollars a month."
He added that "the value of oil exports in Iraqi dinars is estimated at 720 billion dinars, in addition to 320 billion dinars per month, the revenues of the ports in the region, which are also supposed to be delivered to the federal state treasury, bringing the amount to one trillion and 40 billion dinars."
Al-Jushami explained that "the total sums of trade exchange between Iraq and Turkey through Kurdistan reach about 150 billion dinars with tax and customs duties per month," noting that "the total amount reaches one trillion and 190 billion dinars, the sums that are supposed to be received by Kurdistan monthly to the central state treasury in Baghdad and then the government pays them the salaries of their employees, which reach them monthly about 507 billion dinars, and the remaining 684 billion dinars are revenues into the central government treasury.
And he continued, "What is happening now is that" the amount that the region owed monthly is one trillion and 190 billion dinars, which Kurdistan has not delivered to Baghdad, and the salaries of the region’s employees are taken monthly 507 billion dinars. https://www.almaalomah.com/2020/11/12/504948/
Kurdish deputy: The region must quickly agree with Baghdad and demonstrate goodwill in the 2021 budget
Time: 11/12/2020 13:45:28 Read: 3,172 times {Baghdad: Al Furat News} The MP for the Patriotic Union of Kurdistan, Shirwan Mirza, stressed today, Thursday, the need for the Kurdistan Regional and Federal governments to reach an agreement as soon as possible, pointing out that the 2021 financial budget project arrives in Parliament soon.
Mirza, a member of the Parliamentary Finance Committee, said in a press statement, "The Kurdistan Regional Government should expedite an agreement with Baghdad in order to be able to benefit from the borrowing law voted by the House of Representatives on Thursday morning."
He added, "The region has to show goodwill to bypass a big problem with the imminent arrival of the draft budget for 2021 to the House of Representatives," noting that "Kurdish representatives have made great efforts with the Shiite blocs regarding the amount of 320 billion dinars that Baghdad sends, but my government has not reached Region and federalism, during the past two years, negatively affected the discussions. "
He stated, "Khaled Shawani, the regional minister for Baghdad affairs, participated in the meeting of the Parliamentary Finance Committee, revealing the region's readiness to implement the provisions of the Baghdad-Erbil Agreement in the tenth month of this year regarding the delivery of oil and sending an amount exceeding 320 billion dinars."
He stressed that the Kurdistan Regional Government should speed up, in agreement with the central government, to take advantage of the borrowing law, unlike it, the region faces great problems with the imminence of the 2021 financial budget reaching the parliament, pointing out that the regional government can negotiate with the oil marketing company {SOMO}, to deliver its oil On a daily basis and according to its capabilities, because the ball is now in the government's playground, the need to move oil from a curse to a blessing for the people of Kurdistan. " LINK
Parliamentary Finance: There is no share for the region from salaries if oil is not delivered, and an early date for approving the 2021 budget
Time: 11/12/2020 15:04:18 Read: 3,991 times (Baghdad: Al Furat News) A member of the Parliamentary Finance Committee, Ahmed Hama Rashid, announced today, Thursday, that the Kurdistan region’s non-compliance with the salary agreement in return for delivering oil does not have any share of salaries.
Rashid said in a statement to the Euphrates News Agency that "the fiscal deficit law has been approved," noting that "if the region does not abide by the agreement on salaries in exchange for oil, it will not have any of the salaries."
Rashid added, "There are reassurances regarding salaries for the end of the current year."
He pointed out that "the date for approving the fiscal budget for 2021 is close and is likely to be approved in the month of December next," noting that "without a budget, it is not possible for the loans to pass."
It is noteworthy that the House of Representatives approved in a session held yesterday morning, Wednesday, and continued at dawn today, Thursday, the law of financing the fiscal deficit after the withdrawal of the representatives of the Kurdish blocs to reject the mechanism for determining the share of the Kurdistan region.
The law will allow the government to borrow to secure salaries and necessary expenses until the end of the year. LINK
The stock exchange ends the week in green
Iraq Stock Exchange Market Economy News – Baghdad The stock market ended the closing session, Thursday, rising by 0.84%. And 281.5 million shares were traded, worth 547.3 million dinars.
The shares of 7 companies provided by the shares of the United Bank rose by 16.67% and the shares of Baghdad for soft drinks 4.55%.
The shares of 7 companies advanced by the shares of the Islamic Bank decreased by 2.50% and the shares of Bank of Baghdad by 2.33%. Number of observations 96 Date of addendum 11/12/2020 https://economy-news.net/content.php?id=22664
Saudi Arabia comments on the opening of the Arar port: it will be an artery for the starved Iraqi market
Money and business Economy News _ Baghdad Officials and the business sector in Saudi Arabia confirmed that the opening of the new Arar border crossing with Iraq, planned for next week, represents an artery for the flow of Saudi products and goods to the Iraqi market that is hungry for more options for commodity and service imports, as well as supplying the giant projects expected to be implemented in Iraq with all the materials they need. .
The Saudi ambassador to Baghdad, Abdul Aziz Al-Shammari, said, "The opening of the outlet represents a good artery and a real beginning for distinguished commercial relations between the Kingdom and Iraq," stressing that "the port will be a tributary to the economy, and a door of communication between the two peoples, and support for the arrival of Saudi products to Iraq in the easiest way and less Costs. "
Al-Shammari added, "Iraqi products can enter the Kingdom as well ... and the Saudi product instead of entering through neighboring countries will enter directly into the Iraqi market at the lowest cost. All industrial and agricultural products, foodstuffs and manufacturing industries", pointing out that "the Iraqi market is open and promising, and all Saudi products. Welcome. "
The Saudi ambassador pointed out that "there are mega projects that will be implemented in the next stage, and the presence of a new port in Arar is a tributary for these projects to enter Saudi goods and basic materials for projects that will be established inside Iraq in the fields of mining, energy, oil and agriculture." A good tributary that is witnessing a very heavy movement, and is used for import and export, and it will be a distinct outlet.
For his part, Chairman of the Council of Saudi Chambers Ajlan Al-Ajlan believes that "given two countries such as Saudi Arabia and Iraq and the size of their economies, the economic integration between them will represent a great leap and achieve the benefit of both parties."
Al-Ajlan added that "investors in the two countries have a strong desire to invest and seize opportunities," explaining that "Iraq is looking for strong companies to invest, and Saudi companies have proven their worth in the level and quality of their services ... The Iraqi market is large and cannot be underestimated."
According to Al-Ajlan, "We have economic and tourism relations between the two sides, in addition to Hajj and Umrah, all of which are matters that the opening of the port will strengthen for the benefit of the two countries' economies and peoples."
Although the current trade exchange numbers are not large - according to Al-Ajlan - the opening of the Arar port and the continuous visits between the two countries, especially from businessmen, will lead to a significant increase in economic exchange in the coming period, expecting a greater pace in the coming period, especially as the Iraqi economy On the cusp of growth is coming, and this will benefit both countries. " Number of observations 185 Date of addendum 11/12/2020
https://economy-news.net/content.php?id=22662
Al-Kazemi directs finance to expedite sending the 2021 draft budget to the Cabinet Secretariat
Thursday 12, November 2020 16:00 | Economical Views: 81 Baghdad / NINA / Prime Minister Mustafa Al-Kazemi directed the Ministry of Finance to expedite the sending of the draft budget for 2021 to the General Secretariat of the Council of Ministers, in order to include the issue in the agenda of the Council of Ministers. https://ninanews.com/Website/News/Details?key=869146
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