Wed. AM TNT News Articles 6-16-21

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TNT

Cutebwoy:
Kurdistan government holds meeting and budget issue tops agenda

16/06/2021   Information/Erbil.

The Kurdistan Regional Council of Ministers is scheduled to hold its weekly meeting on Wednesday, chaired by Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani and Qubad Talabani, deputy head of the regional government.

“The council will review the visit of the Kurdistan regional delegation headed by Masrour Barzani to Europe and discuss the latest developments in the dialogue with the federal ministries of finance and oil,” the regional government’s information and information department said in a statement.

“The council is considering implementing the budget agreement after the recent contact between Barzani and Kazemi, as well as how to send the funds with the commercial bank,” he said.

“The meeting will discuss the draft law on the Kurdistan Regional Budget for this year, and the meeting will also review the organization of working hours in government departments, where the Coordination and Follow-up Department has already prepared a report on this matter and submitted it to the Council of Ministers,” the statement said.

The Kurdistan Government holds its meeting and the issue of the budget tops its agenda | Information Agency (almaalomah.org)

Tishwash:
Parliamentary Finance: We intend to file an appeal to the Federal Court regarding the disbursement of 200 billion to the region

A member of the Finance Committee, Abdul Hadi Al-Saadawi, stated, Wednesday, June 16, 2021, that an appeal will be submitted to .the Federal Court regarding the decision to spend 200 billion per month for the Kurdistan region by the federal government 

Al-Masoudi said in a statement received by “The Obelisk” that a decision will be issued to disburse an advance to the Kurdistan region in the amount of .200 billion per month, starting from one month for the year 2021, and this is contrary to the Federal Budget Law

He added: Without calculating non-oil revenues, noting that, in implementation by the Ministry of Finance, 250,000 barrels at a price of 61 dollars are .calculated, so the federal government is requesting the region because this is in violation of Article 11 of the General Budget Law .

He continued: We will submit an appeal to the Federal Court

The region’s share in the draft budget is 12.67, in return for the region to ensure the delivery of 250 thousand barrels of oil per day to SOMO, in addition .to 50 percent of the imports of border ports in the region

On August 15, Baghdad and Erbil reached an agreement to send the federal government 320 billion dinars per month to the Kurdistan region until a vote .on the budget law, for a period of 3 months

On November 12, the Iraqi parliament approved the law to finance the fiscal deficit, despite the withdrawal of the representatives of the Kurdish blocs in objection to the article that stipulates the determination of the Kurdistan region’s share of the total actual spending, provided that the Kurdistan region is committed to paying the values of oil exported from the region, in the quantities determined by the company SOMO exclusively, and non-oil federal .revenue. In the event of non-compliance by the Region, the expenses may not be reimbursed to the Region   link

Kurdistan Democratic Party: Sending the region’s share of the budget will be a key to resolving all disputes

The Kurdistan Democratic Party bloc in Kurdistan Parliament welcomed on Wednesday the approval of the Iraqi Council of Ministers to send the region’s share of the financial budget for the year 2021.

The bloc’s spokesman, Peshwa Hawrami, said in a press conference held today, that if this last agreement comes into force and the federal government sends the region’s share, it will be an outlet or a key to resolving all differences and outstanding issues between Erbil and Baghdad.

And he added: It is also clear that the differences between Erbil and Baghdad are not limited to the budget only, and there are other issues that need dialogue, agreement and solution.

Hawrami went on to say that the federal government pledged to send the region’s budget from the general budget as soon as possible, and we hope that the issue of salaries will have priority in the region’s share of the budget.

A spokesman for the Democratic bloc confirmed that the regional government had, during the previous period, to pay the salaries of employees from its internal revenue.

On Tuesday, the Prime Minister of Kurdistan Regional Government, Masrour Barzani, announced that an agreement had been reached regarding the region’s entitlements in the federal budget.

Barzani said in a tweet on Twitter, which was seen by Shafak News Agency; “I spoke with Federal Prime Minister Mustafa Al-Kazemi as part of the ongoing negotiations and commitment to making the relationship between Erbil and Baghdad more clear.

He added, “I am pleased to announce that an agreement has been reached according to which the dues from the federal budget will be sent back to the Kurdistan Region, with a retroactive effect, starting from January 2021.”   link

Disclosure of a “secret and hidden” security agreement between Baghdad and Erbil

The head of the Parliamentary Bloc of the Turkmen Front, Arshad Al-Salihi, revealed, on Wednesday, a security agreement that he described as “secret and hidden” between the governments of the center and the region, while stressing the rejection of the return of the Peshmerga forces to the mixed areas.

Al-Salihi said, in an interview followed by “The Information”, that “the central government entered into a secret and hidden security agreement with the Kurdistan region,” noting that “the Kurdistan region agreed to the security agreement to inform it of it, but the Arabs and Turkmen do not know anything about it.”

He added that “any security agreement between Baghdad and Erbil is welcome, provided that the components are not removed from it,” stressing that “going to a direct agreement between Baghdad and Erbil is doubtful.

In addition, Al-Salihi refused “the return of the Peshmerga forces to the mixed areas,” noting that “in the time of previous governments, all components were involved in security agreements.   link

Oil continues to rise and touches $75 a barrel

Oil prices rose on Wednesday, with Brent crude rising for the fifth consecutive session, as the decline in stocks and the recovery of demand encouraged investors and their appetite for it.

Brent crude rose 64 cents, or 0.86 percent, to $74.63 a barrel by 05:18 GMT, after rising 1.6 percent on Tuesday.

US crude rose 57 cents, or 0.80 percent, to $72.89 a barrel, after rising 1.7 percent in the previous session.

Oil inventories fell 8.5 million barrels in the week ending June 11, according to two market sources, citing figures from the American Petroleum Institute on Tuesday.

Executives of top oil traders said Tuesday that they expect prices to remain above $70 a barrel and demand to return to pre-pandemic levels in the second half of 2022, after recovering across the United States, Europe and some large countries in Asia such as China. link

Source: Dinar Recaps

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