More Iraqi News Wednesday PM 11-4-20
More Iraqi News Wednesday PM 11-4-20
TLM724 Administrator BondLady’s Corner
Allawi: Salaries Will Be Delayed By Five Weeks And $ 150 Billion, Corruption Money Smuggled Abroad (Expanded)
Time: 11/04/2020 22:14:44 Read: 19,253 times {Baghdad: Al-Furat News} The Minister of Finance, Ali Abdul-Amir Allawi, expected a delay in the salaries of employees to five weeks if the passage of the financial deficit finance law (borrowing) is delayed in the House of Representatives.
Allawi said in a television interview: "The salaries are delayed due to the budget deficit and we delay it because we have financial liquidity. It is difficult to increase revenues now, and we must resort to borrowing.
He added, "Iraq's debt is still reasonable and does not pose a threat," stressing that "the salaries of the retired will be spent and we cannot pay them to one side without the other because it is contrary to the law.
"The launch of the first funding batch from the salaries of retirees, and the financial situation of Iraq will be very difficult in the coming years if expenditures continue in this way," Allawi declared.
He noted, "The number of state employees has increased in a surprising way in the past years and salaries are not high, but the number of employees and retirees has increased," noting that "the state finances are based on oil prices and the ratio of salaries to public expenditures is very high."
He explained that "the state is based on certain expenditures related to oil prices and unrealistic exports, and because of them, there has been a gap and now there is no investment budget."
Allawi said that "salaries occupy 120% of oil revenues and imports in which they constitute almost 90%, and with non-oil they reach about 5 trillion dinars, and the expenses sometimes reach 7.5 to 8 trillion dinars, and this is without investment expenses."
He continued, "The 2021 budget may be delayed and increase the amount of borrowing to 40 trillion dinars to fill any gap or get any deficit if the approval of the budget is delayed, any precautionary measure."
The Minister of Finance said, "There are those who receive 3 or more salaries and the presence of aliens, in addition to benefiting from the laws of martyrs and prisoners, and they must be addressed, but these do not stop the great waste and the great financial commitment of the state."
He pointed out that "12 to 13 trillion dinars for the electricity sector without any compensation from the levy, and we will take strict measures for the Ministry of Electricity to take serious measures in the aspect of collection."
Allawi stressed that "salaries require rationalization and government employment, as they have a great financial impact and may put us in a big dilemma, and we are working around the clock to prepare the 2021 budget and we will submit a draft to the Cabinet before the end of this month.
The budget will be based on the white paper on the financial reform side. There are 450 reforms on schedule A clear and specific timetable, some of which need legislation, and we will provide timelines with these reforms.
He said, "We have not seen any negative response to the white paper, and it cannot be implemented during the life of one government and even perhaps the next. We will present measures acceptable to all parties, and their implementation requires a permanent structure such as fighting corruption."
He pointed out that "40 people presented their proposals in the white paper and it was edited by a smaller team," denying "the existence of a dispute between it and the Parliamentary Finance Committee."
He said, "The 2021 budget will have a very small percentage of job grades with rationalization of allocations," noting that "the Ministry of Finance is not responsible for monetary policy and currency printing."
He stressed that "Iraq is not a poor country, but there is mismanagement in investing resources," noting that "Iraq will pay this year the last batch of financial compensation to Kuwait and unfortunately we still suffer financially from the repercussions of the Iran-Kuwait war and the economic blockade before 2003 and we want technical support from industrialized countries." "The major technical advisors will come to the country and work under the orders of the Iraqis."
"The percentage of theft in the money of the former regime was much less than the money of the post-2003 regime, amounting to 150 billion dollars, which is smuggled abroad and cannot be recovered without serious cooperation with countries, their western structures and others in the region, and foreign advisors will help us in this aspect," the finance minister said.
Regarding the Kurdistan region, he said, "We did not receive the ports nor the money for the sale of oil from the region. The principle of delivering oil and ports in exchange for salaries and the Kurdistan budget will be present in the 2021 budget, and if the region does not desire the best way, there will be a calculation of resources, even by 90%," adding that "the numbers of funds that are I paid to the region this year much less than 17%, "stressing that" the federal customs tariff does not apply at the ports of the Kurdistan region. "
"There are financial deposits for Iran in the Iraqi Trade Bank, and the Iranian delegation that visited Baghdad last month demanded to pay back the money back to Iraq and they want to move it, estimated at 4 trillion dinars as debts, with dues amounting to about 6 billion dollars, and we paid the last payment of 250 million dollars to them," he said.
Revealed " Allawi concluded his speech by saying that "the structure and expenditures are based on unrealistic assumptions, and the oil age has begun to end, and the time has come for financial reform and countries that have collapsed due to total dependence on oil, such as Venezuela, and have become the poorest country in Latin America due to the wrong financial policy." LINK
The Decline Of The Dollar In Iraq
Time: 11/04/2020 11:49:35 Read: 31,096 times {Baghdad: Al Furat News} The exchange rates of the dollar in Iraq continued to decline today, Wednesday.
The exchange rate on the Al-Kifah and Al-Harithiya stock exchanges reached 1249 dinars to the dollar, or 125 thousand and 100 dinars for one hundred dollars. Yesterday's price was 1251 dinars.
As for the selling price in the money exchange shops in Baghdad, it was 1255 dinars, and the purchase price was 1245 dinars. In Erbil, the exchange rate reached 1252.5 dinars, and in Basra 1251 dinars. LINK
Anti-Corruption Expert: About 1,200 Wanted To Eliminate Integrity Issues, Including Mps, Ministers, And Governors
Time: 11/04/2020 23:50:42 Read: 2,808 times (Baghdad: Al Furat News) An expert on anti-corruption affairs, Saeed Yassin, announced, on Wednesday evening, that there are 1,200 people wanted for elimination on corruption charges.
Saeed said {to Al Furat News} "There are outputs of the former Anti-Corruption Council that recorded {1000} employees wanted for corruption charges, 141 employees were entitled, and then 47 other employees, including former ministers and now deputies and former governors, and currently MPs, members and heads of provincial councils, are all questioned by judicial means."
He added that "recruitment for the investigation and arrest means the end of the investigation," noting that "the Supreme Council for Combating Corruption is a coordination between the relevant authorities, for example, the Office of Financial Supervision, Life of Integrity and the offices of the inspectors."
Yassin added, "We in the control file carry out self-evaluation, which means everything that is going on in the country from the governance system and others in order to enhance integrity, and there is a distribution of roles and every institution has a responsibility," stressing "the need for a national strategy in which roles are distributed between the legislative and executive governance system to improve financial management." And public performance, services, etc., and the judiciary in order to deter the corrupt and not allow impunity.
He noted that "the public treasury has not recovered one dinar from the pardoned until the moment," adding that "800 corruption files were liquidated out of 1200 files, the majority of which were politically protected and suspended, including real estate, oil smuggling, transportation and drugs, and after that political changes and resignations occurred."
Yassin continued, "Through follow-up and extensive study, we have 3 examples of corruption in state real estate {controlling real estate and occupying them without right, the second is the work of state real estate without pay in the same way, and the third is the existence of lease contracts, but the state's dues are not paid.}" Known names before the court awaiting orders. "
He pointed out that "the procedures of the Anti-Corruption Committee involve a violation of human rights, and to date corruption whales are safe from prosecution," adding, "Corruption is a product of terrorism, and in the future if this file is not contained, other cases of violence will appear to us."
Yassin said, "We have a defect in the policy of reporting and disclosure of information that includes the three authorities, and we need to amend the political parties law," stressing that " Iraq will not go bankrupt, and the ministries scrap alone will enrich the country. However, there is a legislative defect regarding the regulation of government contracts and prices, and we need to establish monitoring of the government revenues. "
Regarding the fires of the sovereign ministries, Yassin said, "State documents do not exist at one point and tax accounting is in the branches, and I am almost certain that the money is in cash, if it exists, then it is in the Rafidain Bank, and any document is lost there like it elsewhere." Something, there are other copies distributed in 3 places that some do not know. "
Commenting on the replacement of China's agreement with Egypt, Yassin explained, "The Iraq agreement with China is in place and there is a deposit of funds, but it has not actually been applied on the ground, and even the United States of America and Europe are seeking cooperation with China," noting "We do not have an economic crisis, but bad policies. She has no experience with investing and hiring resources. "
On the US elections, Yassin commented, "We monitor within the sphere of governance that the American elections are their discourse to the inside, as for the stances of the world to be on the voter's third line."
He stated, "Donald Trump adopts provocative and personal speech with the result, the public does not monitor four years of rule, but rather the last year in which there was an economic decline and failure to understand the repercussions of the Corona pandemic, as well as people of color faced persecution from it."
Yassin concluded, "In general, these indicators confirm that Trump has not succeeded, so he appeared to be waving to go to the Constitutional Court." LINK
Deputy Speaker Of Parliament: Our Loss To Chalabi Is Enormous And Will Not Be Compensated
Pratha News Agency142 2020-11-04 The First Deputy Speaker of Parliament, Hassan Karim Al-Kaabi, confirmed, on Wednesday, that the departure of the President of the National and Political Conference and the former Chairman of the Finance Committee, Ahmed Chalabi, has left a huge impact on the Iraqi scene, indicating that the deceased had a prominent and pivotal role in fighting dictatorship and building a democratic Iraq.
In a statement marking the fifth anniversary of the departure of the president of the Iraqi National Congress, Al-Kaabi said, "The death of Dr. Chalabi is a great loss that will not be compensated."
Noting that "the financial crisis that Iraq is going through today makes us miss badly and more than ever before the loss of a great economic mind, such as Ahmed Chalabi."
The first deputy pointed out that "Chalabi spent all his efforts to serve Iraq in the two stages of opposition and rule, and left his own imprint in the history of Iraq, because of his unique economic mentality and great ability to diagnose dilemmas and develop appropriate solutions." http://burathanews.com/arabic/news/379819
Chambers Of Commerce: Signing Economic Memoranda Of Understanding To Attract Financial Expertise
Wednesday 04th November 2020 3 Baghdad: Hazem Muhammad Habib The President of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, described the prime minister's European tour as beneficial and fruitful, as it came at a time when the country is urgently in need to open prospects for cooperation with major economic and industrial countries.
Al-Zuhairi said, "The government delegation works by signing economic memoranda of understanding, in addition to the importance of attracting the financial and economic expertise that these countries possess, to contribute to the implementation of the white reform paper and the paragraphs it contains to reform the national economy."
On the possibility of the government’s success in attracting investment companies, Al-Zuhairi pointed out that "the investment environment must be subject to limitations, including the enactment of appropriate laws to create a suitable environment for investment, especially as the World Bank publishes bulletins for countries that attract and expel investment."
He pointed out that "Iraq is one of the countries that are not attractive to investment and needs to have broad relations with all international financial sectors such as the World Bank, the International Monetary Fund and international organizations."
It also needs to improve the various business environment besides the oil sector. There is no real development without international companies and an understanding of the nature of real investment. "
Regarding the failure to adopt a correct import approach, the President of the Chambers Federation stated Commercial.
"There are three laws passed since 2010 until now, which are the Product and Consumer Protection Law, and the Customs Tariff Law, which have not been fully implemented.
Especially since the customs tariff represents an alternative for all countries of the world between the industrial and agricultural sectors and imported goods. "
And he indicated that "in light of the lack of control over some ports, especially with the region, and the entry of goods into the country without paying customs tariffs that cause the state to lose billions.Dollars.
Al-Zuhairi believed that "the government has contracted with foreign companies to inspect the goods, which has not proved its effectiveness, in light of the inability of the measurement and quality control device to examine large quantities of goods entering the country with the exception of local goods and companies, pointing out that the production of goods in the private sector enjoys high specifications and quality."
The president of the Federation of Chambers of Commerce pointed out that the union is part of an economic system that is subject to a law that deals with the joints that regulate and develop the work of the private sector, as well as the government sector, through participation in meetings and exchange of views as well as the sector Mixed ".
Stressing that "the work of the Federation of Chambers of Commerce is to organize and facilitate trade and observe and update the laws between the two private sectors." And government. " LINK
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