"Tidbits From TNT" Sunday 6-4-2023

TNT:

Tishwash:  Parliamentary source: The House of Representatives will hold a session on Tuesday to vote on the budget

A parliamentary source said that the House of Representatives will set today the date for the voting session on the draft financial budget law.

The source told {Euphrates News} that "the parliament presidency will determine, after about two hours, the holding of the voting session on the budget next Tuesday at exactly one o'clock in the afternoon."

Informed sources reported to Al-Furat yesterday that the coordination framework and the State Administration Coalition agreed to pass the draft financial budget law in the middle of this week.  link

CandyKisses:  Central Bank of Iraq expands electronic payment operations

Baghdad - Iraq Today:

The Central Bank of Iraq confirmed that great efforts have been made to accelerate the pace of using and circulating electronic payment, while pointing to the conclusion of contracts to adopt payment tools in financial transactions.

Deputy Governor of the Central Bank, Ammar Khalaf, said in a statement to the official agency that "there are great efforts by the Central Bank in cooperation with banks and electronic payment companies to accelerate the pace of use of electronic payment tools in the Iraqi economy."

Khalaf added that "there are ministries that have now gradually begun to enter the electronic payment project," noting that "the project needs systems before launching the collection or electronic collection process, and there is a need for proactive arrangements of electronic systems and infrastructure."

He pointed out that "there are many contracts made by collection institutions, especially the government, to adopt electronic payment in financial transactions," adding: "We believe by the end of this year, there will be a noticeable change and an increase in the number of payment machines and the demand of citizens to use them, and we have instructions that guarantee the rights and obligations of all parties dealing in the subject of electronic payment."

On the first of June, the electronic payment process was launched in government institutions and the private sector.

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CandyKisses:  Parliamentary Finance expects to settle budget differences between Baghdad and Erbil through "compromise" solutions

Shafaq News / A member of the Parliamentary Finance Committee, Mueen Al-Kazemi, expected on Saturday to settle the existing differences over the general budget with the Kurdistan Democratic Party with "compromise" solutions that satisfy Baghdad and Erbil.

Al-Kazemi told Shafaq News Agency that the negotiator of the coordination framework reached a consensus with the Democratic Party on the constitutional mechanism for exporting oil from the region.

He added that "dialogues are currently continuing between the two parties regarding Article 14, which consists of 12 paragraphs, 6 of which are agreed upon within the government text, and 6 other paragraphs are being discussed because the region considers it interference in its affairs."

Al-Kazemi also pointed out that "discussions are underway regarding the management of border crossings between the federal government and the region, and preventing the extraction of oil from the fields of Nineveh and Kirkuk by Kurdistan."

The member of the parliamentary finance pointed out that matters and differences will reach compromise solutions during the next week, warning that the Finance Committee will make amendments to the budget, complete the schedule of transfers and refer them to Parliament for a vote.

Economist Nabil al-Marsoumi shouted on Tuesday, May 31, that the coordination framework that includes the ruling Shiite political forces in the country submitted a new proposal on paragraphs 13 and 14 in the budget for the Kurdistan Region.

In a post on social networking sites "Facebook", the decree quoted private sources as the proposal.

According to the proposal, the Kurdistan Region would deliver 400,<> barrels of oil per day to the National Oil Marketing Company (SOMO), and coordinate the sale of crude with this company as well.

The sources said that in the event that oil cannot be exported through Turkey's ports, Erbil delivers oil to Baghdad, and the Ministry of Oil, in turn, finds alternatives to sell Kurdistan oil or use it internally.

The sources pointed out that the federal government is committed to paying the money of 400,<> barrels of oil sale to Erbil if received from the region, provided that the money for oil sales and recycling internally is placed in an account belonging to the Federal Ministry of Finance.

It is noteworthy that the presidency and the Kurdistan Regional Government have recently objected to amendments to the paragraphs related to the region in the financial budget that the Iraqi Council of Representatives seeks to approve, describing them as contrary to the laws, the constitution and the agreements concluded between Erbil and Baghdad, which resulted in the formation of the current federal government headed by Muhammad Shia Al-Sudani.

The President of the Kurdistan Region, Nechirvan Barzani, has expressed "deep concern", which he called the changes that affected the paragraphs of the draft Iraqi budget law related to the constitutional rights of the Kurdistan Region, and said that he rejects them "completely."

Before that, the President of the Kurdistan Regional Government, Masrour Barzani, said that "a group in the Finance Committee of the Iraqi Council of Representatives made changes to the draft federal budget, violating a prior agreement we concluded with His Excellency Prime Minister Muhammad Shia Al-Sudani and his government," noting that "the agreement, which is the cornerstone of cooperation between Erbil and Baghdad, and everyone must respect its terms."

The Parliamentary Finance Committee recently voted to oblige the Kurdistan Region to pay 10% of the salaries deducted monthly to its employees, including the budget amendments being discussed.

A member of the parliamentary finance committee, Mustafa Sanad, also confirmed the committee's vote to amend paragraphs related to the region in the budget law, related to the delivery of oil, while pointing to the withdrawal of deputies of the Democratic Party bloc from the meeting.

On March 13, the Iraqi Council of Ministers approved the largest financial budget in the country's history, which exceeded 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit of 63 trillion Iraqi dinars, taking advantage of the high oil prices globally, which constitutes more than 95% of the country's financial revenues, amid objections from financial and legal experts about the budget items, but they have not taken their way to approval so far due to differences.

Mot:  ... Hot Game it Was!! ~~~~

Mot:  ... Amazing - Simply Amazing!! ~~