“Tuesday Deadline?” – Fri. PM KTFA Thoughts, News w/ Petra 6-3-22

KTFA

Samson » June 3rd, 2022

Iraq is the second country in the world in economic growth during 2022

06/03/2022 13:30:16

Forecasts prepared in April 2022 showed that the global economy this year is expected to grow by 3.6%, and this comes in light of the pressures it is facing.

And Statista, citing data from FMI and the World Economic Outlook, identified ten economies in the world that are expected to grow at the highest pace in 2022, and the list included 3 Arab countries.

According to a chart by “Statista”, a German company specializing in market and consumer data, the Iraqi economy will grow at a rate of 9.5% this year and will rank second in the list after Guyana, which will lead the world’s economies in growth, as its economy is expected to grow by 47.2%.

In third place comes Kuwait (8.2%), then India (8.2%), followed by Saudi Arabia (7.6%), then Panama (7.5%), Niger (6.9%), then the Philippines (6.5%), Falcongo (6.4%), And then Bangladesh (6.4%).  LINK

Parliamentary efforts to vote an emergency support next weekend

He stressed that voting on the law must be completed before next Wednesday, the eighth of this month, as it will be the date for the end of the first legislative term.    LINK

Popeye7 » June 3rd, 2022

Imo. let’s see what fruit this bears… So before next Wednesday would make Tuesday the deadline?…

Samson » June 3rd, 2022

Al-Kazemi’s Advisor : The governments measures will support the provision of oil in the markets

3rd June, 2022

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Friday, that the Iraqi government has taken early measures to confront the rise in global food prices, including oil.

Saleh said in a statement to the “National News Center”, “These measures came to protect the various classes of the people and fall within the scope of combating poverty and providing food security for Iraq.”

He explained these measures, saying: “The first step taken by the Ministry of Finance is to reduce customs duties and taxes for a certain period, coinciding with the rise in the prices of materials due to the Ukraine war and the occurrence of a demand and supply gap as a result of countries’ inventory of their food stocks.”

He added, “The zeroing of customs and the freedom to import oil will supply the market with it to keep its prices fixed within the market,” explaining that “the allocations of the emergency support law to collect these materials from global markets will also contribute to providing them in the markets at subsidized prices, while the budget bears this support costs, which amount to about 15% of GDP now.   LINK

Tivon » June 3rd, 2022

People, are you listening? Does he have to say it again? Is this clear enough? Do you understand now? The allocations in the FSL will  exploit the reserves and the oil markets.

Do you know what a subsidized price is? A price for a product that is reduced because the government has paid part of the cost of producing said products. How is the government able to pay? The budgets which will account for only 15% now.

He is basically saying the FSL on its own can cover 85% of everything that the budget of the previous years would have if it was approved including the 2022 Budget.

The 85% GDP? Under normal operational standard is things like customs, border ports, taxes & tariffs, agriculture, import/Agriculture, infrastructure projects, businesses, stores, services, merchants. Now do you see why they have been trying to take down the FSL?

Remember they told you the FSL is as big as entire countries budget? Remember they Said the FSL had “Big Cheese” in it? Remember they said the FSL is synonymous with the budget? Remember they were so nervous about the FSL they postponed it twice? Remember when Saleh said there are only two legislative laws that can allocate funds from reserves/savings which was the FSL & The 2022 Budget?

Now do you see why former MPs Deputies, and Parliament members came out to reject the FSL? Saleh just told you (Without telling you) how big the FSL actually is compared to the budget.

Listen, if you don’t follow anyone else in this investment besides Al-Kazemi. It’s Financial Advisor Mazhar Saleh &  Deputy Speaker Hakim Al-Zamili you should always look for to post pertinent information to your investment.   IMO

Samson » June 3rd, 2022

Al-Sahlani: Parliament Can Pass The Budget As It Did During The Era Of “Abdul-Mahdi”

3rd June, 2022

The former deputy of the Al-Fateh Alliance, Walid Al-Sahlani, confirmed that Parliament can pass the budget instead of going towards the emergency support law, as it did during the era of Adel Abdul-Mahdi.

Al-Sahlani told Al-Maalouma, “The Food Security Law can be replaced by the budget law and its legislation can proceed, as happened during the era of Adel Abdul-Mahdi’s government, when the House of Representatives voted to give it the authority to send the law and vote on it in Parliament.”

He added, “The current time is witnessing a rise in food prices as a result of the Russian-Ukrainian war, at a time when Iraq has achieved financial abundance as a result of high oil prices, where it is possible to invest this abundance by preparing a budget with clear figures and information to achieve the aspirations of the citizen.”

And he indicated that “the budget and through the financial abundance achieved, it is possible to rescue the file of services that most previous governments suffered from, as they were unable to provide them in the required form for the people.”   LINK

Legal Expert: Parliament Can Pass The 2022 Budget Despite The Presence Of A Caretaker Government

3rd June, 2022

Legal expert Ali Al-Tamimi confirmed that Parliament can pass the 2022 budget despite the presence of the caretaker government in power, pointing out that the Financial Management Law allows Parliament to do so.

Al-Tamimi told “Al-Maalouma”, “Parliament has the authority to authorize the caretaker government to send the general budget law, because it is related to food security, which is one of the first priorities of the caretaker government.”

He added that “the mandate to send the budget requires a vote of the absolute majority of the number of members in Parliament, and that this right is limited only to the budget law exclusively.”

And he indicated that “the mandate should include the approval of the final accounts of the previous year’s budget in accordance with the Financial Management and Public Debt Law No. 6 of 2019, as all of this comes in accordance with Articles 62, 5 and 61 of the Constitution and 12 and 13 of the Financial Management and Public Debt Law No. 6 of 2019 and articles From 128 to 138 of the Parliament’s Bylaws and Procedures.   LINK

“Another face of corruption” .. Parliament : The absence of final accounts is an economic and financial failure

2nd June, 2022

Member of Parliament, Muhammad Al-Baldawi, confirmed today, Thursday, the absence of final accounts, which led to economic and material failures of governments, which is one of the aspects of financial corruption.

Al-Baldawi said in an interview with the “National News Center”, that “the absence of the final accounts of the Iraqi public budgets led to an economic, material and planning failure of the state,” noting that “for this moment, the state does not know the size of the financial expenditures.”

He added that “the state cannot determine the upcoming budgets as a result of the absence of current and previous accounts,” explaining that “previous governments should submit final accounts in order to proceed with the upcoming budgets.”

He pointed out that “the absence of accounts is one of the aspects of financial corruption that previous governments were accustomed to, but without the final accounts of the budget, we cannot approve the general budget in accordance with the law.” 

And he indicated that “there is a great opportunity for the current government to present final accounts for the general budget in order to break the process that previous governments were accustomed to.”

LINK

Demands to disclose the names of those involved in corruption before the public opinion

3rd June, 2022

The Iraqis demand that they stop covering up the names of those accused of corruption, who caused the waste of public money.

The Integrity Commission and the competent authorities used to announce arrest and recruitment orders against hundreds of implicated personalities, without disclosing their names.

And during the month of April, the Integrity Commission said that the judicial authorities issued 57 arrest warrants against 55 high-ranking officials, including a former member of Parliament, a former minister and four former ministers, as well as a former deputy minister and general managers. He asks the former Minister of Water Resources, Hassan al-Janabi, why the names of those accused of corruption were not published.

Activist Iyad Maati says that if the names of the accused persons are revealed, they will flee.

Activist Sajjad Al-Zubaidi disagreed with Maati, saying: What is the use of not revealing their names? There are those who tell them that your days are approaching, days before the judicial ruling is issued. Al-Zubaidi added: Most of the personalities whose work ends in Iraq collect everything they own and flee abroad.

Information repeatedly reveals the existence of (whales) of corruption that has caused a great waste of state funds since 2003, estimated at hundreds of billions of dollars.

Despite the assertion that there is compelling evidence of corruption cases and deals for senior political figures, the explicit names of those involved are often avoided.

Representative Salam Al-Shammari said that more than one official body working to combat corruption is the Financial Supervision Bureau, the Integrity Commission, the Parliament’s Integrity Committee, and the competent courts, but these authorities have not been able to announce a single person who stole public money in front of the people so far.

He added that the insistence on not revealing the names of the corrupt can be understood on more than one side. It may relate to the existence of corruption networks, or because of the fear of the parties behind the thieves, and this is a very dangerous indicator.

The looted money in Iraq is estimated at 450 billion dollars, according to a former member of the Parliament’s Finance Committee, Rahim Al-Daraji, saying that leaders and leaders are behind its theft.

LINK

Source: Dinar Recaps

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Samson » June 3rd, 2022

Official clarification on the reason for the delay in Iraq’s accession to the World Trade Organization

3rd June, 2022

Today, Friday, the Ministry of Commerce announced that the laws in force prevent Iraq from entering the World Trade Organization, while indicating a new vision for the country to join this organization

The ministry’s spokesman, Muhammad Hanoun, told the Iraqi News Agency (INA), that “Iraq has been seeking for years to join the World Trade Organization,” stressing “the need to legislate laws that are compatible with the decisions in which the organization operates

He added that “the ministry is a governmental institution, like other ministries, subject to laws that prevent entry to this large organization,” calling on the parliament to “legislate laws during the coming period that are compatible with the organization’s decisions

Hanoun indicated that “the Ministry of Commerce is working with the ministries to expedite Iraq’s entry into the organization with a new vision,” explaining that “the government’s effort is effective in saving time and harmonizing with the laws of the World Trade Organization  LINK

Godlover » June 3rd, 2022

I will admit, I am starting to think you are onto something here. I am not convinced easily, but you are doing a good job in doing just that.

Tivon » June 3rd, 2022

Godlover, I’m telling you before they adjourned the parliament session there were laws undisclosed to the public that Al-Sadr was pushing to legislate that are vital to the reinstatement of the Iraq Dinar and Citizens Entitlements which falls under the Emergency Food Security Law.

They didn’t publish that for a very good reason. It’s too sensitive. Playing it close to the chest is a smart thing until the FSL officially becomes Law next week.

We don’t even need to wait for the formation of the government because Hakim Al-Zamili Deputy Speaker already said laws will get passes regardless. What are they voting on next week without a seated government? The FSL.

What will make the HCL/Oil & Gas Law any different? Why do you think they are in a rush to replace the FSL or outright denounce it as illegal or corrupt? Why do you think the World Bank & US Treasury held meetings around the FSL? They didn’t even bring up the 2022 Budget in those meetings a couple of months ago. Think about that.  IMO

May 19th 2022

Article: World Bank’s plans were the main component of a US Treasury report summarizing food security action plans by international financial institutions released on Wednesday .

The European Bank for Reconstruction and Development plans to provide 500 million euros for food security and trade finance for products

Agricultural and food supplies are part of a €2 billion package for Ukraine and neighboring war-affected countries, according to a Treasury report .

Ukraine will get 200 million euros and neighboring countries will get 300 million euros .

The IMF will provide financing through its regular channels, which are limited by countries’ quotas and whether their debts are sustainable.

The majority of the resources will go to Africa, the Middle East, Eastern Europe, Central Asia and South Asia. These regions are among the most affected by the impact of the war in Ukraine on the grain supply

The World Bank indicated that the new projects are expected to support agriculture and social protection to mitigate the effects of high food prices on the poor, and water and irrigation projects .

IMO: The 2022 Budget was not even discussed yet the majority of resources will go towards countries like the Middle East who will use the Food Security Law to utilize the resources coming from the World Bank, US Treasury, and the IMF.

People need to really understand how close we are. They told you repeatedly that the Food Security Law is synonymous with the 2022 Budget. Mazhar Saleh told you that there’s only two legislative laws that can use the oil surplus or reserves. Which is FSL & The Budget.

But also a lot of people seem to forget what another key player stated not too long ago. Because voting on the FSL is equivalent to voting on and opening the 2022 Budget. If they are both synonymous and we know the budget requires a rate change. Wouldn’t the same be true for the FSL? Don’t believe me read the below statement. 

He is expected to pass it during the next session.. Al-Halbousi’s alliance reveals a “single” point of contention in the Food Security Law

2022-05-09

The “Progress” bloc led by Parliament Speaker Muhammad al-Halbousi expected, on Monday, the passage of the Food Security Law in the next session of Parliament due to parliamentary support for its legislation, and while it pointed to solving the obstacles to its approval, with the exception of the issue of loans, it confirmed that it represents an alternative to approving the budget to address “” emergency situation in the country.

IMO

Samson » June 3rd, 2022

Al-Kazemi’s Advisor : The governments measures will support the provision of oil in the markets

3rd June, 2022

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Friday, that the Iraqi government has taken early measures to confront the rise in global food prices, including oil.

Saleh said in a statement to the “National News Center”, “These measures came to protect the various classes of the people and fall within the scope of combating poverty and providing food security for Iraq.”

He explained these measures, saying: “The first step taken by the Ministry of Finance is to reduce customs duties and taxes for a certain period, coinciding with the rise in the prices of materials due to the Ukraine war and the occurrence of a demand and supply gap as a result of countries’ inventory of their food stocks.”

He added, “The zeroing of customs and the freedom to import oil will supply the market with it to keep its prices fixed within the market,” explaining that “the allocations of the emergency support law to collect these materials from global markets will also contribute to providing them in the markets at subsidized prices, while the budget bears this support costs, which amount to about 15% of GDP now.   LINK

Petra » June 3rd, 2022

Ok.  This is really good!!  I will take some words directly from above…now keep in mind this is from the Financial Advisor to the PM!   

Salih:  the Iraqi government has taken early measures to confront the rise in global food prices, including oil. “Taken early Measures” 

Now see what Samson has highlighted in red already:  “the allocations of the emergency support law to collect these materials from global markets will also contribute to providing them in the markets at subsidized prices, while the budget bears this support costs, which amount to about 15% of GDP now.  

So, what can we glean from this. 

1) They have “ALREADY” taken steps/measures to confront the global food prices.  How can they do that?  Have they possibly already voted in the FSL????  They cannot just go to the local grocery store and ask them to reduce their food expenses all across the board???  Who will subsidize the shop owners?   Oh, lets go to number 2:

2. ) THE BUDGET will bear the support costs.  What budget?  The one that is still hung up somewhere in Parliament-Land?   Or, are many of the budget allocations…IN THE FSL??????

Saleh said…they have already taken early measures!!!   

Just some abstract thinking but plausible.  ALL IMO  PETRA

Source: Dinar Recaps

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