Saturday Morning "Tidbits From TNT" 3-27-2021

Mar 27

TNT:

Tishwash: The Financial Committee puts the final formulations on the draft budget

On Saturday, the Finance Committee held a new meeting to finalize the draft budget.

The Media Department of the House of Representatives said in a statement that Al-Iqtisad News received a copy of it, "The Finance Committee is holding a meeting to finalize the draft federal budget law for 2021."

According to the statement, "the meeting was attended by the ministers of finance, oil, planning, electricity, trade, construction, housing, municipalities, works, labor and social affairs, and the president of the Federal Service Council link

DJS: I got this from twitter... GOI

Government of Iraq - Prime Minister @MAKadhimi

We presented the white paper to reform the economic situation, and one of the government's priorities is to prepare for the conduct of free and fair elections.

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Cutebwoy: Financial Advisor to Kazemi: Approving the budget will reduce poverty

Mazhar Muhammad Salih, the economic advisor to the Prime Minister, Mustafa Al-Kazemi, confirmed that the approval of the draft federal budget law for the current year will reduce the poverty rate in Iraq, while noting that delaying it until now means losing 25 percent of the financial vision for the year.

Saleh said in a press statement followed by (Baghdad Today), that “the general budget is supposed to contain programs for the poor, including improving the ration card items in terms of increasing the quantity and organizing its distribution,” indicating that “there is government insistence on the issue of the ration card to address poverty and address it.” .

He added, “The solution to reducing poverty lies in approving the budget, because it contains many programs, including youth employment, new investments, and others.”

He explained, “Unemployment is the basis of poverty, so it is necessary to approve the budget, as it contains activities and programs for the economy,” noting that “approving the budget will result in market stability and the organization of business and trade, because it is a financial plan for a full year.”

Saleh expressed his regret that “the first quarter of the year has passed and the budget has not been approved, which means a loss of 25 percent of the financial vision for the year,” noting that “the delay in approving the budget means disruption of programs, market decisions and individuals as well.”

And Saleh indicated that “the general economic situation of the country is good despite the presence of high prices for some materials, but in general the country has not entered into inflation yet.”

The House of Representatives is supposed to hold its meeting tomorrow, Sunday, to vote on the budget bill, after the vote on it was postponed last week, due to the lack of consensus between the political blocs.

Financial Advisor to Kazemi: Approving the budget will reduce poverty

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Tishwash: Erbil announces a political agreement with Baghdad regarding oil

The Patriotic Union of Kurdistan announced, on Friday, a political agreement with Baghdad regarding oil.

The leader of the Union, Ghayath Al-Surji, said in a radio interview, "In the past it was agreed that the region would hand over 460 thousand barrels, but the dues of the oil companies operating in the oil sector and the debts owed by the region were deducted from the wages of the oil pipelines to Turkey in addition to the deduction of the region's share for consumption." the local".

He added, "The delegation of the region has agreed with the political blocs in Baghdad and the Parliamentary Finance that the remainder will be 250 thousand barrels to be delivered to the SOMO Oil Marketing Company." link

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Tishwash: legal expert: Determining the exchange rate of the Iraqi dinar against currencies is within the authority of the Central bank…but??

The Central Bank of Iraq announced, on Thursday, that the new dollar exchange rate has made significant gains.

A statement by the Deputy Governor of the Central Bank, Ihssan Shamran, reported by (Iraqi Media News Agency / INA) correspondent, stated that "the bank pursues a quiet policy in the issues that people deal with from their viewpoints, and does not enter into discussions that affect expectations."

Shamran added, "The Central Bank believes that the new price has made great gains, the first of which is to enhance competitiveness in favor of national products, whether agricultural or industrial, in addition to strengthening the public finance resource, which is another goal of the decision."

He explained, "The matter requires strengthening the stability of this decision and not creating shocks that would disturb citizens and affect the sustainability of their activities. link

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