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KTFA
Clare » March 6th, 2023
Parliamentary Finance expects to approve the budget in the month of Ramadan
3/06/2023
The Parliamentary Finance Committee expected the approval of the draft financial budget law for the year 2023 during the holy month of Ramadan.
Committee member Mueen Al-Kadhimi told {Euphrates News} agency, “The draft general budget law for the year 2023 will reach parliament next week, and it will need to be presented for voting between a month and 45 days,” that is, during the month of Ramadan.
He added, “The price of oil will be approved in the budget, in which it will be $65 per barrel.”
Al-Kazemi stressed, “There are no job grades in the budget, but there is deletion, creation and confirmation of contracts and lecturers.”
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And the Minister of Construction and Housing, Bankin Rikani, announced that “the budget will be passed by the Council of Ministers in the next week [current],” pointing out that “the share of the Kurdistan region in the budget will reach 12.64%.”
It is noteworthy that the Parliamentary Finance Committee announced last Tuesday that the total value of the budget will be 195 trillion dinars, and its deficit is 60 trillion or less, and the price of a barrel of oil was set at 65 dollars.
Raghad Daham LINK
Government directives to facilitate merchants’ access to the electronic transfer platform
3/06/2023
Baghdad – Conscious – Nassar Al-Hajj
Today, Monday, the Federation of Chambers of Commerce announced the directives of Prime Minister Mohamed Shiaa Al-Sudani to facilitate the entry of merchants to the electronic transfer platform .
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The head of the union, Abd al-Razzaq al-Zuhairi, told the Iraqi News Agency (INA), that “according to the Prime Minister’s directives, there should be meetings between businessmen, merchants and relevant authorities, including the central bank, tax and customs, and to facilitate the entry of merchants to the electronic transfer platform.
The union established, in cooperation with the Association of Banks Al-Iraqiya, a forum and exhibition of banking and commercial services for merchants and businessmen, which lasts for three days.
He added, “The first day has been set for banks, the second for companies, and the third for customs.” LINK
Henig » March 6th, 2023
Parliamentary Finance stresses the introduction of the new salary scale before the budget legislation
10 hours ago
A member of the Finance Committee stressed the need to submit the new salary scale bill before the fiscal budget for 2023.
Jamal Kojar said in a press interview seen by Taqadum, that “the law of unifying the salary scale cannot be linked to the budget law, as each law is different from the other.”
He added, “The only relationship that binds them is the financial dues that are allocated to the salary scale law to be guaranteed in the budget law.”
“Either an amount is allocated to this file or the salary scale is re-legislated, because if the law is submitted after the budget, it will not have a financial allocation for the new scale,” Koger said.
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It is noteworthy that in July 2022, the previous government sent the amendment of the salary scale to the House of Representatives for approval, and there has been no development in it since that time.LINK
DeepWoodz » March 6th, 2023
Imo God morning KTFA! I I picked this article to pontificate on for two reasons. The first is because it isn’t highlighted.
The second is because I’ve often thought about some of the things they would have to do BEFORE changing the rate.
One of those things was to change the salary scale. Why? Google shows the national minimum wage to be 250,000-350,000 dinar per MONTH. Not much income at 1460 or even 1310, but if you plan on going through a major change, it would behoove you to change the scale accordingly. Don’t ya think?
I would like to note that it states that has been the going rate since 2018. Which one can also confer that during the rate change in Dec. 2020, they did not make an adjustment. They also did not make an adjustment BEFORE going back to 1310. So……
Why do they need one now would be the next question I would ask, with a grin on my face?!
Suzie » March 6th, 2023
With this news of the budget coming forth and all the other info being brought to us and especially with the Kurds being happy with the HCL I can see no way Iraq won’t pull this off in the month of March, I mean, what else could get in their way at this point???? Just MY opinion….
DeepWoodz » March 6th, 2023
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imo Hi Suzie! It seems it’s down to getting their internal economy geared up for their new currency and rate and I don’t mean the 1300 ilk either.
The article out today on the salary scale to me is big. They have also mentioned pricing of commodities recently. These are the kind of things I’m looking for.
Who am I to say but the kind of change we are expecting would require a complete overhaul of pricing of everything in the country.
This is one reason I believe the electronic POS are a must. As well as the border ports being on electronic platforms and of course clearing their currency on the BUNA concerning trade with other countries.
They can then pull it off with the “push of the button” simultaneously.
Clare » March 6th, 2023
The Council of Ministers approves the draft budget tomorrow… The decision will be in April
3/06/2023
Today, Monday, the Finance Committee in the Iraqi Parliament suggested that the Council of Ministers approve the draft federal budget law for the year 2023, tomorrow, Tuesday.
Committee member Moeen Al-Kazemi said, in an interview with Al-Sumaria, that “the cabinet will approve tomorrow, Tuesday, the draft budget law.”
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He added, “The draft will reach the House of Representatives early next week, for study, discussion, and amendments, then read, ratify, and approve it in April, so that the government of Muhammad al-Sudani can start implementing its program.”
Al-Kazemi indicated that “the size of the budget will be 170 trillion Iraqi dinars,” stressing the need for “the deficit to be reasonable.”
A member of the Finance Committee revealed that “the estimated share of Kurdistan from the budget will amount to more than 12%, provided that the region provides clear statements of its previous and current revenues regarding oil exports, outlets and the number of employees.” LINK
Source: Dinar Recaps
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