"Tidbits From TNT" Sunday 7-17-2022

Jul 17

TNT:

Tishwash: The Week Of Decisiveness Or Return To The Zero Point .. Will The File Of Forming A Government End?

Representative of the State of Law coalition, Jawad Al-Ghazali, confirmed, on Saturday, that the political data indicate that a session to choose the president of the republic will be held this week, while stressing that the meetings of the leaders of the blocs are continuing to agree on the presidency of the republic and the ministers.

Al-Ghazali said in an interview with the Information Agency, that "the coordinating framework identified several personalities, but so far the agreement on the best candidate has not been officially reached," noting that "the next few days will witness the announcement of the name of the next prime minister."

He added, "The political data indicate that a session to choose the President of the Republic will be held this week," noting that "meetings are continuing between the leaders of the blocs in order to choose the prime minister."

The representative of State of Law explained that “the Kurdish parties, especially the Yekti and the Barti, continue their meetings in order to choose the President of the Republic in a way that satisfies both parties, and this brings the president’s selection session close and resolves the file of forming the new government.”

The coordination framework had called, on Friday, the Kurdish parties to intensify their dialogues and agree on the person of the President of the Republic or the mechanism of his selection, before holding a session of the House of Representatives in order to speed up the completion of the requirements for forming a government. link

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Tishwash: The Presidency of the House of Representatives invites the heads of political blocs to a meeting next Monday

On Saturday, the Presidency of the House of Representatives invited the heads of political blocs to a meeting next Monday.

A brief statement by the Presidency of Parliament, a copy of which was received by Mawazine News, stated that the Presidency of the Council of Representatives invites the heads of political blocs to a meeting on Monday, July 18, at 11 am.

Yesterday, Friday, Parliament Speaker Muhammad al-Halbousi called on the political forces to assume responsibility and resolve dialogues.

Al-Halbousi said in a statement, Mawazine News received a copy of it, that "with the end of the legislative recess for the first term of the House of Representatives, the blessed Eid al-Adha holiday and the start of the new legislative term, I call on the brothers and sisters, heads of political forces and parliamentary blocs to assume responsibility and resolve dialogues, to proceed with the election of the President of the Republic."

He added, "so that we can take the necessary measures, in accordance with the provisions of the constitution and the internal system of the parliament, in determining the date of the election session, and completing the constitutional dues to form the expected government." link

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CandyKisses: Al-Kazemi's Advisor details the necessary financial measures in the absence of the general budget

Today, Saturday, the financial advisor to the Speaker of the House of Representatives, Mazhar Muhammad Salih, separated the process of the absence of the general budget for 2022 and the measures to be taken.

Saleh said in an interview with the "National News Center", that "the increase in total revenues (the basis of which is oil revenues) is subject when it is outside the limits of financing the expenditures set forth in Law No. 2 of 2022, that is, the emergency law for food security and development, or exceeds the funding limits set forth in accordance with the provisions Article (19) / Second of the effective Financial Management Law No. (6) of 2019 disbursing 12/1 of the actual current expenditures realized in the fiscal year 2021

Based on the provisions of the two laws above and when actual revenues exceed expenditure estimates, and after covering the actual deficit, if any in the law. As mentioned, the surplus is directed and employed in the budgets of the following years through a “sovereign fund” provided that legal adaptation is provided for the current fiscal year’s conditions because the financial savings that go to the account of the sovereign fund are required under the applicable Federal Financial Management Law.

He added that “the annual general budget law does not exist for the year 2022, despite that, this means that the generation of official reserves that are used for spending in the coming years through a sovereign provision fund is impossible and managed according to the best international practices in managing and investing official reserves and benefiting from the investment returns of those official foreign reserves. Or disposing of it in financing the budgets of the coming years and achieving the so-called financial sustainability, as confirmed by the Central Bank of Iraq in its recent statements about the management of the fund, and certainly the priority will go in an important aspect of it towards financing investment projects that contribute to the development of national income and economic prosperity for our country.

He continued: "If the 2022 fiscal year ends without approving the general budget (and starting spending at a ratio of 1/12 of the actual current expenditures for the past year), that is, for the year 2021, the financial surpluses will go to a fund or reserve account that represents the sovereign wealth."

And he indicated that "priority will go towards the sustainability of financing investment projects that contribute to the development of national income and the economic prosperity of our country, especially petrochemical, refining, fertilizer and strategic agricultural projects."

Mot: ..... Such Human Kindness Does Exist! ~~~~