TNT, Pimpy, Currency365 and more.....Tuesday PM 9-8-2020
TNT:
Tuesday UPDATE for September 8, 2020
PM Al-Kadhimi announced a special session of Parliament next week (this week) to pass the 2020 budget.
The Kurds returned to Baghdad to meet with the Finance Minister to finalize deals. This move is essential and anticipated for this week.
Tishwash: Al-Kadhimi to hold special session to approve budget law
Ahmed Mala Talal, spokesman for Prime Minister Mustafa Al-Kadhimi, announced that the latter had convened a special session to discuss and approve the 2020 federal budget.
The session will be held early next week, Tala Talal said in a tweet.
Haidar Majid, spokesman for the General Secretariat of the Council of Ministers, told The Shafq News on Sunday that it received the special budget for the rest of 2020, by the Ministry of Finance, to be discussed and sent to the House of Representatives.
Haitham al-Jubouri, chairman of the parliamentary finance committee, told Twilight News that the budget bill will be limited to September, October and December.
Iraq did not pass this year's federal budget law as a result of the crisis of protests that have swept the country since October 2019 and toppled the previous government.
The government of Mustafa Al-Kadhimi faced difficulties in preparing the draft budget at a time when the country is experiencing a severe financial crisis, caused by the collapse of oil prices in world markets.
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Tishwash: The arrival of the Ministers of Finance and Planning to Parliament
A short while ago, he arrived at the Representative Council, Minister of Finance Ali Abdul-Amir Allawi, and Minister of Planning Khaled Battal Negm.
The “Al-Ekhbariya” correspondent said that the Minister of Finance and Planning, they arrived shortly before at the Parliament.
The Presidency of the House of Representatives had agreed to direct an oral question to the Ministers of Planning and Finance, submitted by MP Muhammad al-Darraji, about the failure to reach the reforms stipulated in the Lending Law, which gave the government 60 days after its approval to submit a paper to the House of Representatives that includes reforms in the economic aspect. link
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Tishwash: Finance: The 2020 budget contains a deficit of 80 trillion dinars
Today, Wednesday, the Ministry of Finance confirmed that the 2020 budget that the ministry sent last Wednesday to the government contains a deficit of "80 trillion dinars."
The Undersecretary of the Ministry of Planning, Maher Hammad Johan, said in a press statement, "The federal financial budget for the current year 2020, which the Ministry of Finance sent to the Council of Ministers last Wednesday, is the same budget that was prepared earlier and contains a financial deficit of 80 trillion dinars, and was approved For a total amount estimated at 146 trillion dinars. "
He added that "the budget has not undergone any change, as it also contained the launch of bonuses and promotions for all employees," noting that "the available job grades for retirement assignment have been added to the federal budget for 2021."
He pointed out that "the ministries of planning and oil, in addition to the Central Bank, the Customs Authority and the Public Debt Department, are currently reviewing the sums that could be supplied to the 2021 budget, which now lacks the existence of final figures." link
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Harambe: FXS: USD/IDR Price News: Indonesian rupiah drops to 14,795 despite improved Consumer Confidence https://www.fxstreet.com/news/usd-idr-price-news-indonesian-rupiah-drops-to-14-795-despite-improved-consumer-confidence-202009080401
Harambe: Bloomberg: South Africa Dispatches Ruling Party to Help End Zimbabwe Crisis (9/8/20) https://www.bloomberg.com/news/articles/2020-09-08/south-africa-dispatches-ruling-party-to-help-end-zimbabwe-crisis
Harambe: Bloomberg: Brent Crude Oil Tumbles Below $40 in Wake of Souring Demand Outlook (9/8/20) https://www.bloomberg.com/news/articles/2020-09-08/brent-crude-drops-below-40-for-first-time-since-june-25
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Courtesy of Dinar Guru
Footforward [Some are saying the budget is important for the RV and others are saying it has no significance.] the budget has no affect on the timing of the rv at all. For years now they have had two budgets ready to go. One with a new rate and one without. This year they have done the same thing. When the RV happens they will simply go to their shadow budget.
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Iraqi Dinar News 09/08/20 - let's get this agreement finished already
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