“Tidbits From TNT” Thursday Morning 12-5-2024
TNT:
Tishwash: Parliament session agenda for Thursday
The House of Representatives will hold a regular session tomorrow, Thursday, in which it will read the second reading of the amendment to the financial budget law for the years {2023, 2024 and 2025).
Reading verses from the Holy Quran
First: Voting on the draft law of the National Intelligence Service. Security and Defense Committee. Article 36 (The National Intelligence Service. Affairs).
Neutrality Second: Voting on the proposed law amending the first law of Passports Law No. 32 of 2015. (Security and Defense Committee) (5) Article).
Third: Report and discussion of the second reading of the draft law amending the first law of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2020 - 2025) No. (13) of 2023. Finance Committee). 2024
Fourth: Report and discussion of the second reading of the draft law amending the fifth amendment to the Civil Aviation Law No. 148 of 1974. (Transport and Communications Committee). link
Tishwash: Government advisor: The budget is hedged by the oil price at $70 and the deficit is 64 trillion dinars
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that "the federal general budget No. 13 for the year 2023 (the three-year budget) is hedged by the price of a barrel of oil at $70.
Saleh told Al Furat News Agency, "Any increase in oil prices, assuming fixed production and export quantities, will lead to reducing the hypothetical budget deficit gap of 64 trillion dinars."
He explained that "despite the above, reducing Iraq's share of production within OPEC + is supposed to remove any potential glut in the supply of crude oil in the energy market, which leads to prices being higher than what is estimated in the budget and may even compensate for the shortfall in the quantities of oil produced that were reduced at the same time."
The House of Representatives is scheduled to begin its session tomorrow, Thursday, with the second reading of amending the three-year budget law.
Prime Minister Mohammed Shia al-Sudani, during his hosting of today's session, called on the House of Representatives to expedite amending the budget law. link
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Tishwash: The Finance Committee decides to host Taif Sami to complete the amendment of the budget law
On Wednesday, the Finance Committee held a meeting at its headquarters to discuss the report on the draft law amending the second amendment to the Federal General Budget Law for the years 2023 - 2024 - 2025, No. (13) of 2024.
A statement by the committee stated that the meeting was held in the presence of its chairman and all members, and began by emphasizing “the exceptional efforts made by the committee to amend the budget items related to the costs of producing and exporting oil from the Kurdistan Region and the obligations associated with them.”
The statement added that the committee chairman "stressed the importance of setting applicable provisions and obligating the relevant authorities to implement them, while pointing out the need to obtain clarifications from the Ministry of Finance regarding the mechanism for financing the amounts and financial allocations."
According to the statement, the committee discussed the draft report of the second budget amendment law, reviewed and approved members’ comments, and held detailed discussions on how to calculate production and transportation costs, appropriations and contracts, in addition to the mechanism for managing accounts.
The Finance Committee decided to host the Ministry of Finance to complete the procedures related to amending the law, while the meeting discussed the committee’s report on hosting the Ministry of Oil and the results drawn from this hosting. link
Mot . Finally! - MY Day!!!
Mot: Earl and the vacuum
