Sat. AM KTFA News Articles/Thoughts 9-11-21

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KTFA

Iobey777 » September 11th, 2021

Folks should be jumping with joy after reading this post!!! It’s HUUUGGEE!!! It’s talking about them using THEIR currency!!

In numbers and details.. the 2022 budget and a precedent that did not happen before

09/10/2021 

The financial advisor to the Prime Minister, Mustafa Al-Kazemi, revealed the completion of the draft federal budget bill for 2022.

Mazhar Muhammad Salih said in a press statement, “The financial authority represented by the Federal Ministry of Finance is close to completing the preparation of the draft federal budget bill for 2022,” noting that “the Budget Strategic Committee and through its meetings held in more than 24 meetings throughout the year, I have concluded that the spending ceiling in the 2022 budget will not exceed the spending ceiling in the 2021 budget, and if there is an increase, it is likely to be 10%.”

He added, “The only thing that has been updated in the 2022 budget, is that the price of a barrel of oil will be around $50 per barrel, as announced by the Minister of Finance, and there are non-oil revenues that are supposed to increase, and therefore the assumed deficit that was proven in the 2021 budget is up to 29 trillion dinars.” It is expected that it will decrease to 18-20 trillion dinars, which will lead to a decrease in the deficit and an increase in revenues.”

He pointed out that “this budget may be legitimate if it is submitted to the Council of Ministers before the government enters the stage of conducting business, or Parliament suspends its work,” noting that “according to the available information, the draft budget is prepared and will be submitted in the near future.”

And he indicated that “the budget was dealt with with high impartiality and outside political disputes, and enjoys high transparency, and that it included applications of the reform white paper, especially with regard to diversifying non-oil sources, addressing waste and unnecessary expenditures, and directing expenditures correctly,” he said.

Saleh added, however, that “the 2022 budget may be more balanced, stable, and open to investments more broadly than the 2021 budget, and its coming after Covid 19 also has accounts,” noting that “it is certain that the endeavors to complete the draft budget are devoid of any political interests.” On the grounds that it tends here and there, and one of its principles is social justice and the fair distribution of income as much as possible.

He stressed that “it was prepared without any political pressure, because the government is essentially independent by nature, and outside of political pressure, and I am confident that it was prepared with a high professionalism outside of any political biases, and that the days will prove that,” noting that “the share of the Kurdistan Region when assessed, It will be taken with high justice, realism, and harmony consistent with the national unity of Iraq.”

And Finance Minister Ali Allawi had announced on August 26, today, Thursday, the completion of the preparation of the 2022 budget, and that it will be presented within 3 weeks in the Council of Ministers,” noting that “the price of a barrel of oil in the 2022 budget will be $50.”

It is noteworthy that the government specified in this budget In 2021, the price of a barrel of oil is based on $ 42 per barrel and an export rate of 3.25 million barrels per day, but Parliament calculated it at a price of up to $ 45, using the Iraqi currency in evaluating the price of a barrel instead of the dollar, which ended a major political debate about restoring government support to the value of the dinar. Iraq against the dollar.

With regard to the Kurdistan region, the budget obligated the region to pay at least 250 thousand barrels per day from the production of oil fields in the Kurdistan region to the Iraqi government for export, in return for paying the salaries of employees working in the Kurdistan region, and settling the related dues between the two sides, after being audited by the Financial Supervision Bureau. .  LINK

Source: Dinar Recaps

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