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Samson » July 24th, 2017

Parliament votes on the amended budget bill for the year 2017


24th July, 2017

The Iraqi parliament voted on Monday on the revised federal budget bill for the fiscal year 2017.

The Council of Representatives voted on the revised budget bill for the fiscal year 2017 submitted by the Finance Committee, the Committee on Economy and Investment to fill the shortfall in salaries of state employees and the public sector and members of the popular mobilization, "the statement said. It includes the payment of bonuses , pensions and insurance needs of the displaced and payment of dues contractors audited by the Federal Office of financial supervision and the dues of farmers and the insurance needs of the ministries of electricity, oil and health. "

The statement, that" the House of Representatives said in amending the budget two billion dinars to Loza Of water resources to address the problems of water - related water crisis in the province of Babylon.

http://economy-news.net/content.php?id=8390

Doc.K » July 24th, 2017

Note: The 3 zeros dont show numericaly below , but in word form ( thousand dinars) ,, many of us cannot read Arabic. Graphs and charts often show values this way numbers shown reflecte thousands, millions, etc... : NOTE:This is for public viewing and does not reflect a drop in any zeros Any increase in purchase power is being hidden..

Samson » July 24th, 2017

"Economy News" publishes the amendment of the Financial Budget Act of 2017


24th July, 2017

Published "Economy News" Law amending the Federal Budget Law No. (44) for the year 2017, which was approved by the House of Representatives on Monday. And the details of the law:

In the name of the people

Presidency

On the basis of what was approved by the House of Representatives and ratified by the President of the Republic based on the provisions of item (I) of Article (61) and Article (III) of Article (73) of the Constitution

The following law was issued:
No. (2017)
Law amending the Federal Budget Law No. 44 of 2017
Chapter One
Revenue
Article (1): The text of Article (1) of Article (1) of the Law shall be amended to read as follows:
Article 1 -

A- Revenues of the Federal General Budget for the fiscal year 2017 are estimated to be (82,069,669,668) thousand dinars (eighty two trillion nine hundred and sixty six billion six hundred and sixty six hundred and sixty-eight thousand dinars) as shown in table (a) Revenues according to the main accounts) attached to this law.

B - Calculation of the revenues from the export of crude oil based on the average price of (44.4) (forty four dollars and forty cents) per barrel and the export rate of (3750000) barrels per day (three million seven hundred and fifty thousand barrels per day), including (250000) barrels Daily (two hundred and fifty thousand barrels per day) for the quantities of crude oil produced in the province of Kurdistan and (300000) (three hundred thousand barrels per day) for the quantities of crude oil produced through the province of Kirkuk on the basis of the exchange rate (1182) dinars per dollar and all revenues actually achieved Final revenue for the state treasury.

Chapter II

Expenditure and disability


Article (2): Amend the text of the two items (First: Expenses A, B, C, D, E) and (II) Disability A, C, E of Article 2 of this Law, Article 2 / First: Expenses) of this law and delete paragraph (f) of Article (2 / II: Disability) of this law,

To be as follows:

First: Expenditure - The amount of (107,089,521,545) thousand dinars (one hundred and seven trillion and ninety-nine billion five hundred and twenty-one million and five hundred and fifty-five thousand dinars) for the expenses adjusted by the ministries for the fiscal year 2017 and distributed according to field (12) B) Expenditure adjusted by the ministries for the year 2017) attached to this law.

A) The amount of (28,531,686,499) thousand dinars (twenty-eight trillion five hundred and thirty-one billion six hundred and sixty-eight million nine hundred and ninety-nine thousand dinars) for the investment projects expenditures for the fiscal year 2017 distributed according to field (8 / Expenditure adjusted by the ministries for the year 2017) attached to this law.

B) The amount of (78,557,835,046) thousand dinars (eighty-eight trillion, five hundred and fifty-seven billion eight hundred and thirty-five million and forty-six thousand dinars) distributed according to field (4 / adjusted operating expenses) of the table / Law.

C- An amount of (112,906,151) thousand dinars (one hundred and twelve billion nine hundred and six million one hundred and fifty-one thousand dinars) shall be allocated to the contingency reserve within the appropriations of other expenses for the budget of the Federal Ministry of Finance out of the allocations referred to in item (I-B) referred to above And the Council of Ministers to increase the amount mentioned no more than double to cover the expenses of the network of social protection and popular mobilization by half.

(D) An amount of JD (375,000,000) shall be allocated for the reconstruction and development of the projects of the regions and governorates, including the Kurdistan Region, out of the allocations referred to in Article (1 / A) of Article (2).

1- The Governor shall submit the reconstruction plan of the Governorate and the districts and sub-districts approved by the Council of the province, depending on the plans set by the districts and districts to the Federal Ministry of Planning for the purpose of study and approval to take into account the most affected areas within the province and to distribute allocations to maintain districts (15%) (15%) of governorate allocations and 5% (5%) of poverty reduction strategy projects.

2. The Governor shall exclusively implement the approved reconstruction plan and the Governorate Council shall be responsible for monitoring implementation.

G-

1- The amount of (4,733,011,088) thousand dinars (four trillion seven hundred and thirty-three billion and eleven million eight hundred and eighty thousand dinars) shall be allocated to the current expenses and according to Column No. (2) in Table (b).

2- The amount of (1,186,310,379) thousand dinars (trillion, one hundred and sixty-eight billion, three hundred and ten million, three hundred and seventy-nine thousand dinars) of the current expenditures and according to Column No. (3) in Table (B).

3- The amount of (8,792,463,622) thousand dinars (eight trillion seven hundred ninety-two billion four hundred and sixty-three million six hundred and twenty-two thousand dinars) shall be allocated to the investment expenses and according to Column No. (6) in Table (B).
4. The amount of (5,714,795,123) thousand dinars (five trillion seven hundred and fourteen billion seven hundred and ninety-five million one hundred and twenty-three thousand dinars) shall be deducted from the investment expenditures and according to Column No. (7) in Table (b).

II. Disability:

The total deficit planned for the federal budget for the fiscal year 2017 (25,019,851,877) thousand dinars (twenty five trillion and nineteen billion eight hundred and fifty-one million eight hundred and seventy-seven thousand dinars) according to the details shown in the following table:

Amount (thousand dinars)

Vocabulary Revised budget estimates
1 = (A + B) Total revenue 82,069,669,668
Oil revenues: 71,833,095,000
B Non-oil revenues 10,236,574,668
2 = (A + B) Total expenditure 107,089,521,545
A Current expenditure 78,557,835,046
B Total investment expenditure 28,531,686,499
- Investment expenditure from Treasury 24,028,124,659
- Investment expenditure through foreign loans 4,503,561,840
Total planned deficit 25,019,851,877
Finance gap financing (deficit)

A. Accounts balances of ministries and entities not associated with the Ministry of government banks 641,607,059

B The balance of the account of the Ministry of Finance 1,000,000,000

C National Bonds for the public 3,001,673,274

D - Treasury bonds and remittances to government banks and deducting with the Central Bank of Iraq 5,500,000,000

E The World Bank loan to support the budget 1,182,000,000

The IMF loan to support the budget 2,009,400,000

G. JICA loan to support budget 323,000,000

Loans secured by the UK, Canada through the World Bank 413.7 million

I Foreign bonds 2,364,000,000

The EU loan is € 118,200,000

Transfers by commercial banks 3,430,809,704

M Loan (JBIC) 59,100,000

N World Bank loan / projects 242,310,000

US loan for the purpose of arming 1,043,706,000

The British loan (export loan) is 390,060,000

The Chinese loan is 984,606,000

The German loan (KFW) is 224,580,000

The Swedish loan is 177,300,000

The IDB loan is 59,100,000

The loan of Italy is 158,388,000

D JICA loan projects / projects 449,301,840

W German loan projects Siemens Inc. 165,480,000

Ø Maintenance project loans for the Ministry of Electricity from the Export Guarantee Corporation 549,630,000

Loan of the French Agency for Development 531,900,000

C- Authorizes the Federal Minister of Finance to borrow or continue to borrow from abroad to finance development projects after the approval of the Council of Ministers from the sources mentioned below and to continue the loans approved in previous years and with the approval of the Council of Representatives.

- JICA loan in the amount of (1500) million dollars (one hundred and five hundred million dollars). Municipalities, Water Resources, Electricity, Industry and Minerals, Health, Communications, Transport and the Ministry of Municipalities, Tourism and Electricity of the Kurdistan Region.

- The Japanese Bank for International Cooperation (JBIC) loan in the amount of (500) million dollars (five hundred million dollars) to finance the projects of the Ministry of Electricity, and will be funded (50) million dollars (fifty million dollars) in 2017.

- The Islamic Development Bank loan (800) million dollars (800 million dollars) to finance projects for the Ministries of Electricity, Construction, Housing, Municipalities, Health, Higher Education and Scientific Research and the Municipality of Baghdad. Fifty million dollars (50 million dollars) In 2017, the Ministries of Reconstruction, Housing and Municipalities are allocated electricity.

- The loan of the German Development Bank (KFW) in the amount of 500 million Euros (500 million Euros), equivalent to 600 million dollars (six hundred million dollars), of which 190 million dollars (one hundred and ninety million dollars) Terrorism of 2017.

- The Swedish loan in the amount of (500) million dollars (five hundred million dollars) to finance the projects of the Ministry of Electricity by (ABB) and the guarantee of (EKN) and will fund the amount of (150) million dollars (one hundred and fifty million dollars) for the projects of the ministry.

- Italian loan amounting to (160) million dollars (one hundred and sixty million dollars) will be funded $ (134) million (one hundred and thirty-four million dollars) for the projects of the ministries of water resources and agriculture.

- US $ 4550 million ($ 4.5 billion) to finance the Defense Ministry's needs, and $ 883 million ($ 1.8 million) will be funded in 2017.

- $ 500 million ($ 500 million) to finance projects for the Ministries of Electricity, Construction,Housing, Public Municipalities, Finance, Health and the Municipality of Baghdad. The sum of $ 205 million ($ 250 million) 2017, including $ 10 million ($ 10 million) for the Financial Management Development Project (PFM).

- Negotiation and borrowing from the British Export Bank on the financing of infrastructure projects including (water, sewage and desalination) in the amount of (10) billion pounds (ten billion pounds sterling) to be funded $ (100) million (one hundred million dollars) of The above amount during 2017 for desalination projects within the province of Basra and the amount of 230 million dollars (two hundred and thirty million dollars) for the projects of the Ministry of Electricity for GE of the above amount during 2017.

- (500) million dollars (five hundred million US dollars) from the German Export Guarantee Corporation and Standard Chartered Bank for the implementation of the German Siemens project of the Ministry of Electricity will be funded $ 140 million (one hundred and forty million dollars) in 2017.

- Additional loans for the various annual maintenance projects of the Ministry of Electricity guaranteed by international export guarantee institutions in favor of the US GE and the amount of $ 465 million will be financed in 2017.

E. The Federal Minister of Finance, after the approval of the Council of Ministers, is authorized to borrow $ 2,500 million by guaranteeing international export guarantee institutions for the purchase of arms, ammunition and logistical support to the Ministries of Interior and Defense, the Popular Propaganda Authority and the Anti-Terrorist Organization. (Eight hundred and thirty-three million dollars) during 2017.

Chapter III

General and final provisions


Article 3

(4) of the Federal Budget Law No. (44) for the year 2017 to become (the Federal Minister of Finance the authority to conduct transfers between the appropriations of the federal budget of the Republic of Iraq approved in the annual federal budget and the budget modified at the level of doors and sections and classes, materials and types And type sequence.

Article 4 -

Amend the text contained in the provisions of Article (25) of the Federal Budget Law No. 44 of 2017 to become (for the Minister of Finance and Planning Federal reallocation of the amounts recovered from farmers for loans agricultural initiative projects received by farmers for the previous years to the budget of 2017 and to be exclusively devoted to projects initiative (1) Section (4) of the Financial Management Law No. (95) for the year 2004).

Article 5-

Continuing the work of the provisions of the articles contained in the Federal General Budget Law No. 44 of 2017 and the amended articles mentioned in the amended law.

Article 6

The Council of Ministers shall have the authority to transfer the amounts required to cover the requirements of support for the displaced, the popular mobilization and the expenses of the Ministry of Health for the allocations referred to in Article 33 / I / B, as set forth in Table (h) of the Law.

Article 7

- Amend the text of article (39) of the law to be as follows:
To the Federal Minister of Finance with the approval of the Federal Prime Minister issuing guarantees to:
- General Electric Company ($ 563) million ($ 500 million) and the signing of financing loans guaranteed by international export guarantee institutions, including the US Overseas Private Investment Corporation (OPIC).
- Korean company STX for $ 125 million (one hundred and twenty-five million dollars) to finance, rehabilitate, maintain and operate the stations of the Ministry of Electricity through Alio Puff Bank.

Article 8 -

Amend the table of transfers contained in Article (59) of the law agencies:
1- The sum of (30) billion dinars (thirty billion dinars) is transferred from the allocations transferred to the House of Representatives to the People's Assembly / operational.
2- The amount of (10) billion dinars (ten billion dinars) of the allocations transferred to the Independent High Electoral Commission to the People's Assembly / operational.
3- The amount of (2) billion dinars (two billion dinars) from the transfers of the accountability and justice to the Ministry of Water Resources / maintenance and rehabilitation of rivers and streams and onions.
4- The amount of (100) billion dinars (one hundred billion dinars) of the allocations transferred to the Independent High Electoral Commission to the Ministry of Health /expenditure governing (medicines, including the Kurdistan region).
5 - The amount of (5) billion dinars (five billion dinars) of the allocations transferred to the Independent High Electoral Commission to the secretariat of Baghdad / reconstruction of Karrada.
6- The amount of (5) billion dinars (five billion dinars) of the allocations transferred to the Ministry of Education to the Ministry of Agriculture / investment.

Article 9

The Ministry of Finance to transfer the grades and financial allocation for those wishing to have university degrees at least from the employees of the Ministry of Defense to ministries and departments other than the three presidencies and the departments associated with them and after the consent of the transfer to the condition that does not entail any financial consequences.

Article 10 -

This Law shall be published in the Official Gazette and shall be effective as from the date of its publication.

Positive reasons

To fill the shortfall in the salaries of state employees and the public sector and members of the popular mobilization and to ensure payment of pensions and insurance needs of the displaced and to pay the receivables of audited contractors from the Federal Audit Bureau and the benefits of farmers and the needs of the ministries of electricity, oil and health.
This law was enacted

http://economy-news.net/content.php?id=8389

Samson » July 24th, 2017

Speaker: Revised budget guarantee to secure the salaries of employees and retirees


24th July, 2017

The Speaker of the Parliament Salim al-Jubouri, on Monday, that the revised budget guarantee to secure the salaries of employees and retirees, noting that the budget to meet the requirements of security agencies and will contribute to secure the needs of the Ministries of Electricity and Oil.

Al-Jubouri said in a statement received by Alsumaria News, a copy of it, "We appreciate the efforts of the Parliament in the speed of completion of the federal budget reform for the fiscal year 2017, which is added to the laws and decisions and legislation important task completed by Parliament during this period and the past period."

"This comes in line with the plan of financial reform and ensure the payment of salaries of employees and retirees, and secure the salaries of the popular mobilization and cover the needs of the displaced, and the payment of dues to farmers and the purchase of crops."

He added that "the budget to meet the requirements of the security agencies that deserve all our thanks and pride and praise for what I have in liberating the land of Iraq from defacement and calling the terrorist," explaining that "it will contribute to securing the needs of the Ministry of Electricity and the Ministry of Oil, and the provision of medicines and medical supplies to the Ministry of Health and And the Ministry of Construction and Housing and the Municipality of Baghdad. "

The House of Representatives voted during its meeting held on Monday, July 24, the current bill on the amended budget for the year 2017. LINK

Don961 » July 24th, 2017

To amend the budget and 2017 to raise its Tuesday


Twilight News 24 minutes ago

Twilight News / parliamentary source said on Monday that the House of Representatives has completed two readings of the draft laws, while voted to amend the fiscal budget of the Iraqi state for the current year.

The source told Twilight News, the House of Representatives voted on the draft revised federal budget for fiscal year 2017 law.

He added that the Council's first reading of the proposal to commemorate the sacrifices of the martyrs of the war against terrorist gangs Daesh and accelerate the completion of their transactions and intensive care Bjrahahm law.

The source said the council also completed the first reading of the draft accession of the Republic of Iraq to the Convention on International Interests in Mobile Equipment and the Protocol on Matters Specific to Aircraft Equipment and advertisements complementary to join them for the Republic of Iraq law, support way by saying that the council has raised its to on Tuesday of the week next.

http://www.shafaaq.com/ar/Ar_NewsReader/5f603d76-446e-4253-b58c-1a8e44b77552

Alia83 » July 24th, 2017

Parliament approves the amended 2017 budget and ends reading three laws


The House voted in its eighth ordinary session of its first legislative term for the fourth legislative year, which was held under the chairmanship of Salim al-Jubouri, Speaker of the Council and in the presence of 180 deputies today on two laws and ended reading three laws.

A statement by the Information Department of the House of Representatives said that "at the outset of the session, President Jubouri decided to postpone consideration of the appeals filed on the validity of the membership of some of the deputies needed for two-thirds of the members of the Council."

The Council voted in accordance with the statement on the "draft law for the ratification of the documents of the Bucharest Conference for the year 2004 attached to the Universal Postal Convention submitted by the committees of foreign relations and services and reconstruction and finance for the purpose of enhancing cooperation in the regulation of postal transport and to ensure the best ways to the World Postal Service and to ratify the documents of the Bucharest Conference for the year 2004 annexed Of the Universal Postal Convention of 1947, which Iraq ratified by Law No. 31 of 1950. "

The council urged the vote on "the draft law on the freedom of expression, assembly and peaceful demonstration submitted by the legal committees, human rights, security, defense, culture, media, endowments and religious affairs at the request of the concerned committees."

Jubouri directed the committees concerned to "expedite the maturity of the draft law for the purpose of voting at the next session."

The Council completed the first reading of the proposed amendment to the first law of the general amnesty law No. 27 of 2016 submitted by the Legal Committee in view of the issues that appeared in the application of the law in the courts and the existence of a large number of cases that require the inclusion of a general amnesty relating to the waiver of the legal representative of the departments and similar names of those included in the amnesty law For the year 2008.

The Council ended the vote on the draft amended federal budget law for the fiscal year 2017 and submitted by the Finance Committee of the Committee on Economy and Investment to meet the shortfall in the salaries of state employees and the public sector and members of the popular mobilization and ensure payment of pensions and the needs of the displaced and disbursement of dues audited contractors from the Federal Audit Bureau and farmers' And securing the needs of the ministries of electricity, oil and health.

Jubouri pointed out that "the House of Representatives added in the budget amendment two billion dinars to the Ministry of Water Resources to address water problems related to the water crisis in the province of Babylon."

The Council completed the first reading of the proposed law to commemorate the sacrifices of the war martyrs against the gangs, urging the terrorists and speeding up their dealings and taking care of their wounds, submitted by the Committee of Martyrs, Victims and Political Prisoners, in order to speed up the process of martyrdom victims who sacrificed their lives in the holy war against terrorist gangs and media. And ensure the rights of their families in a manner that preserves their dignity and is worthy of the sacrifices and heroics of the martyrs and their place of care and treatment of the wounded, wounded and those with special needs.

The Council completed the reading of a report and discussion of the draft law on the accession of the Republic of Iraq to the Convention on International Safeguards on Mobile Equipment and its Protocol on matters relating to aircraft equipment and supplementary declarations to the Republic of Iraq submitted by the Committees on Foreign Relations, Services and Reconstruction. LINK

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