"Tidbits From TNT" Monday 2-20-2023

TNT:

Tishwash:  Parliamentary Finance attributes the delay in sending the budget to Parliament to changing the exchange rate of the dollar

Today, Monday, the Parliamentary Finance Committee attributed the delay in the 2023 budget at the government discussion table to changing the exchange rate of the dollar.

The head of the committee, Atwan Al-Atwani, said in an interview with the official newspaper, "Al-Sabah", which was followed by Mawazine News, that "the budget is still under study by the government, and it is certain that a re-evaluation of it will be carried out in light of the reduction in the exchange rate of the dollar."

He added, "The exchange rate was set by the government at 1,300, and therefore there will be a re-review after the funding gap," noting that "the budget deficit grows whenever the exchange rate decreases, so the government is working today to set an acceptable deficit ratio that can be dealt with."

Al-Atwani pointed out, "Changing the exchange rate forced the government to work to control and bridge the financing gap, in a budget that will witness lower expenditures by 200 trillion dinars." link

Tishwash:  Cougar.. The budget will reach Parliament at the end of this month

A member of the Parliamentary Finance Committee, Jamal Cougar, revealed some details of the state budget for the year 2023 and the date of its arrival in parliament.

Cougar said in a press statement, followed by The Independent, “The budget will reach Parliament at the end of this month or the beginning of next month, if the government so desires, after its approval in the Council of Ministers.”

And he explained that: “According to the leaks, the total amount of the budget will be in the range of 210 to 215 trillion Iraqi dinars after reducing the price of the dollar to 1300, that is, in the range of 130 to 140 billion US dollars.”

And he stressed: “The price of a barrel of oil will be 70 dollars per barrel,” noting: “The region’s share of the budget will be around 14% of the budget, and there is no dispute over it between the political blocs, given that this percentage is within the region’s share in the Ministry of Commerce.”

Cougar pointed out: “Parliament needs at least one month, once the budget arrives for approval,” indicating that it will pass through political consensus after solving problems, most notably the shares of the provinces and the Kurdistan region  link

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Tishwash:  from Kurdish news     "There will be stability for the dinar currency against the dollar, and the issue is only a matter of time."

Fuad Hussein: The Iraqi currency is strong and the reserves exceed 100 billion dollars

Foreign Minister Fuad Hussein announced: "The Iraqi reserves exceeded 100 billion dollars."
Hussein said in a press conference held today, Monday, February 20, at the headquarters of the Ministry of Foreign Affairs:

 "The Iraqi currency is strong and has an economic and oil cover." He indicated that the visit of the Iraqi delegation to the United States of America came to protect relations with the United States, and political issues related to the new government and its policy were discussed.

Regarding the recent crisis related to the rise in the exchange rate of the dollar against the dinar, the foreign minister said, "The dollar crisis has to do with the electronic financing system, and before the implementation of the economic system, dealing was with" cash. The dollar,”
Hussein revealed: “
Fouad Hussein continued: "There will be stability for the dinar currency against the dollar, and the issue is only a matter of time."

The Minister of Foreign Affairs appreciated the work of the electronic platform system, saying: "The platform aims to know who is the final beneficiary of the central funding of the dollar currency, because it will reduce or stop smuggling after activating it in many Iraqi banks, ports and airports.  link

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CandyKisses:  Economist: The government loses 90 billion dinars per month without knowing it

Information / Baghdad... 

The economist, Abdul Salam Hassan, confirmed that the government loses 90 billion dinars per month in revenues related to real estate transactions in municipal departments, pointing out that this amount can be invested properly by taking some decisions in order to ensure that it is achieved and placed in the treasury. Country. 

Hassan told Al-Maalouma, "Municipal departments in Iraq get a lot of waste of money, by adhering to some decisions related to granting building permits and violations resulting from the difference in areas." 

He added, "The government can allow obtaining building permits for various areas, especially since most of the houses have been divided into small areas, and it is possible to obtain a building permit for a specific amount of money." 

And he indicated that "issuing a decision by the government to allow obtaining a building permit for various areas provides the state treasury with more than 90 billion dinars per month, and it also eliminates cases of corruption that occurred in some departments regarding the imposition of real estate violations and fines due to the differences in areas and the non-issuance of a building permit, as The continuation of the current situation causes the government to lose this amount every month without knowing it." 

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