"Tidbits From TNT" Saturday 6-17-2023

TNT:

Tishwash:  Sudanese adviser sets the date for the entry into force of the budget

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, said today, Saturday, that government institutions will start implementing the instructions and the budget law will enter into force.

Saleh told {Euphrates News}, that "the budget is awaiting the approval of the President of the Republic and will be published in the Iraqi Gazette, after which special instructions will be issued to implement those instructions issued jointly by the Ministries of Finance and Planning." 

And he continued: "On the basis of which, government institutions will start implementing these instructions, and the budget will enter into force, noting that this process will not take more than one week."

And the House of Representatives approved, at dawn last Monday, the draft federal budget law for the fiscal years 2023-2024-2025, more than 4 days after the sessions were held since last Thursday.

The value of the current year’s budget is 197 trillion and 828 billion dinars (about 152.2 billion dollars), with a total deficit of 63 trillion dinars (48.3 billion dollars).

 For his part, Prime Minister Mohamed Shia Al-Sudani confirmed, in a statement, that "the government will work to review the items that have been amended in the budget and study their compatibility with the government's vision and objectives approved in the ministerial curriculum approved by Parliament."   link

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Tishwash:  Parliamentary Oil: The road has become paved for the adoption of broken laws, the most important of which is the oil and gas law

Today, Saturday, the Parliamentary Oil, Gas and Natural Resources Committee confirmed that the road has become a paved path for the adoption of stalled laws, the most important of which is the oil and gas law, while it revealed that there are some obstacles to the legislation of the law.

Committee member Zainab Jumaa Al-Moussawi said, in a statement followed by Mawazine News, that "after approving the financial budget for the years (2023-2024-2025), the road is now paved for the approval of suspended laws from previous parliamentary sessions, the most important of which is the oil and gas law, which will draw the oil map." In Iraq, solve problems between the federal government and the Kurdistan Regional Government, and guarantee the rights of both parties.

Al-Moussawi added, "The Oil and Gas Committee is working to prepare the appropriate ground for approving the law very soon," revealing "the presence of political interference working to obstruct the legislation of this law within the House of Representatives."

And she stressed that "there are political forces that do not want to solve the Iraqi economic problems," noting that "the Oil and Gas Committee is working hard to remove obstacles and resolve differences between the governments of Baghdad and Erbil."   link

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Tishwash:  Iraq begins negotiating with Space X for satellite internet.. “The optical cable is difficult and expensive.”

The Ministry of Communications announced, on Saturday, the start of contracting procedures to introduce Internet service through space to Iraq for the first time, indicating that the door to negotiations has been opened with “solid international” .

In pursuit of the Ministry of Communications to provide the best services to citizens and institutions, and given that projects to provide Internet service via optical cable require a relatively long time to complete its deployment in all regions as a result of the difficulties of extension and excavation and the high financing costs of these projects, and with the aim of diversifying the sources of service provision, which contributes to increasing competition and lowering prices, The Opinion Board in the Ministry of Communications approved the initiation of contractual procedures to introduce (internet via space) service to Iraq, for the first time, similar to developed countries in the world, using low-orbit satellite technologies that provide Internet service directly to users on the ground through a huge network of satellites provided by it.

A number of discreet international companies such as (one web), (Space X) and (Amazon), where the ministry opened direct negotiation channels with these companies to proceed with the contracting procedures in order to deliver this service to .Iraq as soon as possible   link

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Tishwash:  Baghdad settles scores with the region after the budget enters into force

The secretary of the Kurdistan Regional Council of Ministers said that the funds that reach the region will be liquidated retroactively after the implementation of the general federal budget law for 2023.  

 And the Secretary of the Council of Ministers for the region, Amanj Rahim, added in a post followed by “NAS” on Saturday, (June 17, 2023), that the articles related to the region in the budget are articles 11-12-13, and after publishing the budget, the law will enter into force retroactively from January 1 and according to Budget One trillion and 200 billion dinars will be liquidated for the Iraqi commercial banks, Al-Rasheed and Al-Rafidian, and will be deducted from the monthly dues specified for the region in the budget.  

The Secretary of the Council of Ministers explained the main commitments contained in the budget for the region as follows:  

 * Delivery of 400 thousand barrels of oil produced in the region in the event of resuming exports through the port of Ceyhan or using it for refining and local consumption.  

 * Delivering 50% of the proceeds of border crossings to the federal treasury.  

 * Delivery of the monthly installment of the region's obligations towards the Trade Bank of Iraq.  

 Submission of the budget reviewed by the Ministry of Finance.  

 The agreement of the federal and regional financial oversight bodies on the review mechanism.  link

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CandyKisses:  For the third month in a row. Iraq reduces US bond holdings

The US Treasury Department announced on Saturday that Iraq's holdings of US bonds fell for the third consecutive month to about $ 35 billion.

The Treasury stated in its latest table that "Iraq's holdings of US Treasury bonds for the month of April 2023 decreased by $ 4.5 billion to reach $ 34.8 billion after it was $ 39.3 billion during the previous month," indicating that "these bonds rose by 18.6% from the same month of 2022 when Iraq's possession of bonds amounted to $ 28.3 billion."

In the Arab world, Saudi Arabia comes at the forefront of the most possessing countries, with $ 113.3 billion, the UAE comes second with $ 70.2 billion, then Kuwait third with $ 41.4 billion, then Iraq fourth and Oman fifth with $ 7.061 billion.

The Treasury pointed out that "the most countries holding US bonds are Japan with $ 1.127.2 trillion, followed by China with $ 868.9 billion, the United Kingdom with $ 680.7 billion, and then Belgium with $ 336.6 billion." 

Mot: .. ""Stephan King"" - the Early Daze! ~~~~~

Mot:  ...... Uh Oh!!!!