"Tidbits From TNT" Tuesday Morning 2-1-2022

Feb 1

TNT:

Tishwash: Parliament Presidency: The end of the preparations for the presidential election session.. No delay even for one hour

Today, Tuesday, the Second Deputy Speaker of Parliament, Shakhwan Abdullah, announced that all technical preparations for holding the presidential election session on the seventh of this month have been completed, stressing that the election of the presidency will not be postponed, even for one hour, from its scheduled date.

Abdullah added, in a statement to his party’s official website, seen by “Nass” (February 1, 2022), that “the parliament’s presidency is committed to the constitutional deadlines, and it is not linked to political disputes between the competitors, and it is proceeding with the constitutional entitlement, after announcing the names of the competitors and completing the technical preparations for the process.” link

Tishwash: The Framework Announces The Move Towards Collecting Parliamentary Signatures To Change The Dollar Exchange Rate

The deputy of the coordination framework, Ibtisam Al-Hilali, revealed, on Tuesday, the framework’s move to collect parliamentary signatures to restore the dollar exchange rate to its previous rate, surprising at the government’s insistence on maintaining the exchange rate, especially with the recovery of oil markets during the past weeks.

Al-Hilali said in a statement to "The Information", "The coordination framework is moving towards collecting parliamentary signatures in order to restore the exchange rate of the dollar against the Iraqi dinar or reduce its current price."

She added that "the framework's movement in this regard is still continuing until the will of the Iraqi people, who were affected by the high exchange rate of the dollar, is achieved," noting that "the government raised the exchange rate in order to supplement the 2012 budget, and now it has obtained additional funds due to the high oil price."

And the representative of the State of Law coalition, Firas Al-Maslmawi, confirmed in a previous statement, that his coalition and a number of members of Parliament within the same direction will not allow the budget to be passed for the current year except after a reduction in the dollar exchange rate against the dinar. link

************

Tishwash: The lack of approval of the 2022 budget and fears of recession (2/01)

Article 57 of the Iraqi constitution indicated that the legislative chapter in which the general budget is presented does not end until after it is approved. In other words, the state’s general budget must be approved before the start of the new fiscal year, and that approval means the legislative authority’s ratification of the terms and programs of this budget so that the executive authority can work according to it ,

The lack of approval means the delay in the state of the market and economic activity in the country, which paves the way for the national economy to enter a stagnation stage. In addition, the failure to approve the budget on its known dates affects the investment programs and curriculum and creates a state of uncertainty.

investment program

The expert in economic affairs, Dr. Ahmed Al-Rawi, said: “The state budget is an annual plan by which the government aims to implement its service and security programs within a year, especially budgets.”

Countries that depend mainly on oil revenues, such as Iraq, as these budgets are characterized by allocating an investment program of no less than 30% of the budget size to implement development programs in the infrastructure of electricity, water, roads, transportation, education and health. Any delay in approving the budget has significant repercussions on the level of allocation and spending. Which negatively affects the implementation of service and development programs, as happened in the failure to approve the 2022 budget on time.

Define spending

He added, "We expected a delay in approving the budget for several months due to the delay in Parliament sessions and what accompanied them, and this delay will have negatives, including the work ratio of 1/12 in spending until the approval of the new budget, i.e. work on the spending rates that were implemented from each month of the last year, meaning that Spending is limited by the conditions of the previous year, and accordingly, it cannot include the developments that occur during the new year. Determining spending at a rate of 1/12 will be reflected on the level of employment for the required degrees and their appointment during the year. Rather, the promotions and bonuses that employees are entitled to during this year will stop until the approval of the new budget.

service projects

Al-Rawi added that “the delay in approving the general budget extends its negative impact on the level of implementation of service projects to be implemented from the previous budget and which will continue to be implemented for subsequent years, and that delaying the budget means disrupting the investment program and this disrupts the development activity that negatively affects economic activity in general, especially In the transport, employment and services sector, and that the failure to approve the general budget represents a restriction on the government in implementing its programs that it promised its citizens, which puts it in a critical political, moral and social position.

investment spending

In the same context, the expert in economic affairs, Dr. Amr Hisham, stated that “the failure to approve the general budget was repeated and not passed.”

For a full year in the 2014 budget and the 2020 budget, in general, the general budget is divided into two parts: the current or operational spending budget and the investment spending budget. The question of salaries, which constitutes the most important paragraph of

Paragraphs are not affected by the lack of approval of the budget, and the effect falls on the non-approval of upgrades, promotions, transfers and deletions and creation.”

He continued, "The problem is usually in investment spending, as the issue of releasing financial payments to contractors in investment projects is affected, which generates a loss of confidence by contractors and local and foreign companies and raises fears of recession. economic". link

Mot: Just in Case you Ever Wonder About Next Weds (Feb 2)event! ~~~