Finance Minister: Saving the Iraqi economy needs a real revolution Iraqi News for April 21 2022
The Minister of Finance, Ali Abdul Amir Allawi, said on Thursday that lifting the Iraqi economy from the current deterioration needs what he called a "real revolution" in changing its structure from rentierism to diversifying sources.
This came in a speech during his leadership of the Iraqi delegation participating in the spring meetings of the International Monetary Fund and the World Bank, held for the period from April 18 to 24, 2022 in Washington, with the participation of the Undersecretary and a number of general managers.
Allawi said in the speech, "Save the Iraqi economy and correct the course of fiscal and monetary policy, it needs a real revolution to change its structure and transfer it from a rentier economy that depends on oil as a main source of revenue to a diversified economy, especially after indicators showed that it is not possible to rely on oil to build the country." and development.”
The minister stressed the importance and necessity of involving the private sector to take its role in the overall economic activity and towards achieving comprehensive and sustainable development, adding, "We suffer from previous and inherited institutional laws and procedures that must be addressed if we want to properly invest the country's resources and strategic location and adapt the economy to the post-oil phase."
Iraq's economy is characterized as a rentier consumer economy that depends entirely on oil sales revenues, which are the main source of the country's general budget.
The Iraqi state’s continuation of relying on oil as the only source of the general budget makes Iraq at risk of global crises that occur from time to time due to the impact of oil on it, which makes Iraq turn every time to cover the deficit through borrowing from abroad or inside, which thus indicates the inability to manage Effectively state funds, and the inability to find alternative financing solutions.
Adviser Saleh: The 2022 budget is expansionary and includes two types of spending
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Thursday, that the current year's budget will be expansionary, while noting that there are two types of spending in it.
Saleh told Earth News, "The draft general budget law for 2022 is still a non-final draft and is not presented to Parliament or the government until the present time, and the oil market developments are significant," noting that "there are repercussions of this rise on the emergency law for food security and development, the law for security." food and development”.
He added, "It is certain that the price of a barrel is not 45 dollars, as stated in the 2021 budget. It may be double this price or less than it, with precaution and reservation," explaining that "if the general budget for 2022 is presented, it will be with a simple hypothetical deficit in my estimation, which constitutes only 30 Or 35% of the hypothetical deficit in the 2021 budget, with definitely higher ceilings.”
And the economic advisor continued, "Due to the financial abundance achieved, I expect the ceiling of the 2022 budget will be higher than the ceiling of the 2021 budget by a percentage that may approach 40 to 50 percent," noting that "this abundance will certainly go to two types of spending; The first spending is the social spending, which, as stated in the text of the emergency food security project, and the second spending is on major strategic development projects that employ employment and generate income.
Saleh expected that "the directions for the 2022 budget, if approved, will be an expansionary budget with a lower deficit and in areas that affect development and employment more and are proportional to a growth rate that exceeds the population growth rate by double the rate completely."
It is noteworthy that the year 2022 did not approve its budget, due to the parliamentary elections that Iraq witnessed at the end of last year and the subsequent blockage in the political process due to the difference in opinion between the bloc about the mechanism of forming the government.
Arab League: Iraq plays a pivotal role in the stability of the region and the Middle East
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The Secretary-General of the League of Arab States, Ahmed Aboul Gheit, stressed today, Thursday, the importance of Iraq and the centrality of its current role in achieving stability in the Arab region and the Middle East.
And a statement of the Ministry of Foreign Affairs received by "Earth News" stated, "The Undersecretary for Political Planning Affairs, Saleh Hussein Al-Tamimi, met Abul-Gheit at the headquarters of the General Secretariat of the League of Arab States, in the presence of Ahmed Nayef Rashid Al-Dulaimi, Iraq's ambassador in Cairo, his permanent representative to the League of Arab States."
During the meeting, Al-Tamimi praised “the university’s current position and effectiveness in performing its roles,” stressing “Iraq’s support for the university’s path and its centrality in activating and developing joint Arab action.”
For his part, the Secretary-General praised "Iraq's performance through its permanent delegation, headed by the permanent representative, Ambassador Ahmed Nayef, within the framework of the joint Arab action."
Aboul Gheit highlighted the importance of Iraq and the centrality of its current role in achieving stability in the Arab region and the Middle East, stressing that "the Iraqi statesmanship was able to transform Iraq into a meeting ground for interests and a safe environment for dialogue and regional and international understandings."
Kurdish Politician: Barzani Does Not Want To Deliver Oil To Baghdad
Kurdish politician Latif Mustafa confirmed, on Thursday, that the President of the Kurdistan Regional Government, Masrour Barzani, does not want to deliver oil and gas to Baghdad.
Mustafa said in an interview with the "Information" agency, "Masrour Barzani's tour to Turkey and Britain confirms that he does not intend to hand over oil and gas to the federal government at all."
He added that "Barzani confines the oil file exclusively to his hand, and all the figures related to revenues and revenues are known only to his own team, and what he is doing is only for not delivering those revenues to Baghdad so that he does not see the real numbers."
And the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, conducted a tour to Turkey and the British capital, London, for the purpose of agreeing to export gas.
Kurdish Politician: Kurdistan Oil Revenues Go To Families Of Turkish Parties And Companies
A member of the former Parliamentary Oil and Energy Committee, Ghaleb Muhammad, revealed, on Thursday, that the volume of exports of the Kurdistan region of crude oil amounted to more than half a million barrels per day, noting that the oil revenues go to the families of Turkish parties and companies.
. Muhammad said in a statement to “Al-Maalouma” that “the treasury of the Kurdistan region got one and a half billion from selling oil,” noting that “the bulk of the oil imports go to the pockets of the ruling family and the part The other goes to Turkish
companies.”
He added that "the partisan families are monopolizing the oil revenues and using them for enrichment at a time when the dear
Kurdish citizens are living in difficult social conditions."
Muhammad pointed out that "the region receives billions of dollars annually from oil revenues, more than half of which goes to
Turkish companies, while it is not known how the rest of the revenues are distributed."
Earlier, Ghaleb Muhammad accused the Kurdistan Regional Government of procrastinating in the delivery of oil revenues, indicating that the region sold its oil to foreign companies and received its money in advance.
With this step, the political conflict in Iraq ends - urgent
an expert in Iraqi political affairs, Ihsan Al-Shammari, clarified today, ,
Thursday, the solution to end the political blockage in Iraq in order to .expedite the process of forming the new government Al-Shammari said, in an interview with (Baghdad Today), that "the solution to the political blockage is through resolving the crisis of the President of the Republic and resolving this crisis is through one of the Kurdish parties relinquishing the position, and it is possible for the Kurdistan Democratic Party to relinquish the position of ".President of the Republic to the Patriotic Union of Kurdistan And he indicated that "the person nominated by the Democratic Party for this position (Reber Ahmed), does not enjoy the acceptance and unanimity of the political blocs, or even the consensus of the people, especially since there are previous statements and positions for him that are not acceptable and the presence of voices within the region has previously accused the candidate of practicing a kind of .restriction on activists. and journalists in the region
Al-Shammari added that "it is not in the interest of the Kurdistan Democratic Party to remain as governor of Erbil, especially since the price he will pay is the secession of Sulaymaniyah," noting that "in the Democrats' calculations, it will be profitable in the end if a concession is made to the Union in order to preserve the territorial integrity of the region and preserve the formation of the government there on the
The level .of the president of the region and the prime minister of the Barzanis family And he stated that "the Kurdistan Democratic Party will gain by abdicating a long ally the Patriotic Union as a traditional party, in addition to other issues, if it waives through positions granted to it in the federal scene, and this concession is the only an expert in Iraqi political affairs, Ihsan Al-Shammari, clarified today,
solution currently to end the political blockage in Iraq in order to expedite the ".process of forming the new government
Turkey: Military operations in Kurdistan will continue with respect for Iraq's sovereignty
Turkish Defense Minister Hulusi Akar said, on Tuesday, April 19, 2022, that the launch of the military operation against the Kurdistan Workers Party (PKK) militants in northern Iraq prevents the terrorist corridor to be established on the southern border of Turkey, noting that the operations will continue until the last terrorist is .neutralized, taking into account respect Sovereignty and territorial integrity of neighboring countries
In his speech during a conference in Bursa, western Turkey, Akar said that Turkey is keen to protect the security of its .borders and people from terrorist organizations
He added that if Turkey had not launched Operation Claw-Lock, the country and the region would have faced greater .threats and dangers in the future
He added that the issue of terrorism is at the top of the agenda of the Turkish Armed Forces, and that the military .operations are carried out according to the strategy of drying up the sources of terrorism
He added that the operations will continue until the last terrorist is neutralized, while respecting the sovereignty and .territorial integrity of neighboring countries
On the night of Sunday - Monday, Turkey launched the "claw-lock" operation against terrorist elements in the areas of .Matina, Zab and Afshin-Basian in northern Iraq
Financial disclosure and transparency is a strategic approach for the Central Bank of Iraq
*Samir Al-Nusairi The Central Bank of Iraq periodically announces its foreign cash reserves with the aim of informing the public and the concerned and competent authorities that the reserves are sufficient by 100% to cover the local currency in circulation and to cover Iraq’s import obligations to the government and the private sector in accordance with the standards of the International Monetary Fund, and that the gold reserve is up to 96 tons and occupies an advanced position in the Arab world And regionally. The Central Bank also announced the absence of the Libyan dollar in circulation in Iraq. It also announced the ban on dealing in encrypted currencies and warned against that. The Central Bank’s data and daily reports are consistent with the transparency and disclosure that characterizes international banks because banks The central bank in the countries of the world mainly aims to achieve economic stability by achieving monetary and financial stability in accordance with its programs and strategies that aim to maintain stability in the exchange of their local currencies against other foreign currencies and to build sufficient foreign reserves. Banks are also evaluated based on other criteria related to facing crises, challenges and shocks. Economic and political control in their countries, control over stable rates of inflation and interest rates, application of compliance regulations and rules, and combating money laundering and terrorist financing.The Central Bank of Iraq’s march during the past years has proven that it is moving at a steady pace to achieve the objectives of monetary policy and with a fixed and strategic approach that depends on transparency and disclosure of financial data and dealing with international financial organizations and institutions, based on the keenness to restore confidence in international banking transactions, which Iraq suffered before 2014 due to reputational risks And the negative media impact on the damage to the Iraqi economy and the leaking of inaccurate, fabricated and distorted data and information. This led the Central Bank administration, which assumed responsibility in 2020 and 2021, to follow in the footsteps of the Central Bank’s policy in the Bank’s first strategy for the years ( 2016-2020) . And to draw up a second strategy for the years 2021-2023 , one of its m Also, the Central Bank announces daily its sales of dollars in the foreign currency sale window, distributed among the banks that enter the window, according to the classification of each bank and with a comprehensive disclosure. Also, through its control and supervision of the banking sector, banks are obligated to adopt transparency and continuous disclosure and by all available means about the results of their work. And periodically and by adopting international accounting standards that ensure the transparency of financial statements. From all of this, we note that the Central Bank, with this strategy and this approach, announces to local and international public opinion the following: 1- The statements issued by it and the Iraqi banking sector confirm the transparency and disclosure of the Central Bank of Iraq by announcing approved and transparent reports for the total revenues from the currency for the first time since 2003 at least. The foreign currency and the total expenditures of the foreign currency of the government according to the approved exchange chapters. 2- The statements contained in his daily reports on his official website refute all media statements made by non-specialists in the various media. In particular, the foreign currency sale window. Through my analysis as a follower and specialist, I believe that the Central Bank’s disclosure of financial data, especially what is related to foreign currency, with the required accuracy, will greatly help restore confidence in our national economy and the Iraqi banking sector locally and internationally because disclosure, transparency and credibility will raise the percentage of confidence in the Central Bank and banks’ procedures, which will contribute to the development of The banking sector and raising the percentage of financial inclusion. * Adviser to the Association of Iraqi 8 Private Banks Economist: Oil Prices Necessitate The Government To Make Changes To The Budget
. Al-Kinani told "The Information", that "international oil prices have crossed the threshold of $100 per barrel, at a time when the government is dealing with the budget at a price of less than $50 per barrel." The President of the Supreme Judicial Council receives the Iranian ambassadorThe President of the Supreme Judicial Council, Judge Dr. Faiq Zaidan, received today, Thursday, 04/21/2022, the Ambassador of the Islamic Republic of Iran, Mr. Iraj Masjedi, on the occasion of the end of his work in Iraq. The ambassador thanked the Supreme Judicial Council for the cooperation between the two countries in judicial and legal matters during the period work in Iraq The Minister of Finance identifies the most important challenges facing the next government
On Thursday, Finance Minister Ali Allawi revealed the most important challenges facing the next government, while referring to cooperation with the US Treasury Department on money laundering.
Allawi said, during a symposium organized by the Atlantic Research Institute in Washington, and followed by "Nass" (April 21, 2022), that "the most prominent Iraqi challenges that will face the next government are the laws and institutional procedures inherited," stressing "the need to address them if we want to benefit from the resources of The country, its strategic location, and how to transform the economy into a post-oil era.
Allawi confirmed in a statement to the official channel, on the sidelines of his participation in the Spring Meetings held in Washington, that "this visit came to deepen the economic relationship with international institutions, the World Bank, the International Monetary Fund, the American Treasury and the American Development Agency, and we aspire to strengthen relations."
He added, "The IMF supports the overall economic and reform policy for Iraq," noting that "the World Bank supports certain projects, and now they have several projects they are working on in Iraq."
He continued, "There is cooperation with the US Treasury on several issues, including money laundering and Iraqi-American relations in light of the Russian-Ukrainian war, because there are economic aspects that must be taken into consideration."
He pointed out that "in light of all these matters, it was necessary for us to come to Washington with a large and important team from the (Iraqi Finance) Ministry and other ministries. The International Astronomy Center sets the first day of Eid Al-Fitr - urgent
Today, Thursday, the International Astronomy Center has set the date of Eid al-Fitr in a number of Islamic countries, based on astronomical calculations.Islamic countries are investigating the evening of the twenty-ninth ofRamadanThe crescent of the month of Shawwal, and the sighting of the crescent means the endRamadanAnd the beginning of Eid, and if the crescent moon is not observed on that night, then those countries complete a 30-day fast so that the next day will be the first day of Eid. Many countries started a monthRamadanThe blessed month will be on Saturday, April 2, and these countries will investigate the crescent of Eid Al-Fitr (Shawwal 1443 AH) on Saturday, April 30, corresponding to the twenty-ninth of the month.RamadanWhere, while several countries started a monthRamadanOn Sunday 03 April, including Indonesia, Malaysia, Brunei andIndiaAndBangladeshAndPakist
According to the statement of the International Astronomy Center, for the countries that will investigate the crescent on Saturday, April 30, seeing the crescent on that day is impossible because the moon sets before the sun and for the pairing to occur after sunset, and therefore these countries will complete severalRamadanThirty days, to be on Monday, May 2, Eid al-Fitr. just f\yi In pictures: Two new banknotes in the UAE
Two new banknotes with technical specifications and advanced security features launched by the United Arab Emirates.In the context of the third issue of the national currency, the Central Bank of the UAE introduced two new banknotes in the denominations of five and ten dirhams. This polymer version follows the success of the first launch of the 50 dirham banknote of the same material
In this issue, the latest international standards and technologies and high-quality apparent and latent security features in the banknote industry were used to enhance in order to enhance confidence in the local currency and combat counterfeiting.
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Adviser to the Prime Minister: Corruption is a major reason for investors to stay away from Iraq
The Prime Minister's Advisor for Reconstruction Affairs, Sabah Abdul Latif, confirmed today, Thursday, that corruption is a major reason for investors to stay away from Iraq.
Experts identify factors that helped improve the Iraqi economy and proposals to increase per capita income
Indicators of improvement in the performance of the Iraqi economy and the rise in the level of revenues prompted experts to put forward optimistic expectations for the coming years, but stipulated that they be strengthened by a number of government moves to invest the growth situation in high oil prices in increasing per capita income.
In its report issued during the current month of April, the World Bank confirmed that Iraq ranked first in the Arab world with the largest growth in GDP and per capita for the year 2022.
Good improvement and expectations for its continuation for several years
. Economic and financial analyst Mahmoud Dagher says in a statement to the Iraqi News Agency (INA), that The World Bank report indicates an improvement in the overall performance of the Iraqi economy compared to previous years that were affected by the Corona pandemic, and when compared to the previous situation, it is a good improvement.
He explained, "The World Bank report contains two parts, the first is non-oil sectors that must achieve an improvement after the pandemic, such as the transportation sector and retail sales, as well as some activities that were affected by Corona, while the second part indicated that the main improvement was represented by the significant rise in oil prices, and this The improvement will continue and is expected until 2024."
He added, "The government must invest this boom in oil prices, which may last for two years, injecting more investment and re-growth in the gross domestic product," noting that "the World Bank estimates indicate a growth of approximately 5% in GDP, which leads to An improvement in the repayment of the Iraqi debt and its dues and its effects on the economy.
Calls to increase energies and capabilities within the economy
In turn, the economic and academic analyst, Ahmed Saddam, stated that "the economic growth achieved in Iraq is linked to an increase in the nominal value of Iraq's oil exports, as it is the main source of income and the main component of the gross domestic product, and it must focus on increasing the energies and capabilities within the economy."
And he stated in his speech to the Iraqi News Agency (INA), that "the achieved growth depends on the level of oil prices, and the returns that the simple Iraqi citizen can derive from this growth coupled with the level of economic policies and their employment of financial surpluses in non-oil productive projects or stimulating activities and thus creating job opportunities, generating incomes, reducing poverty, as well as improving the level of services, especially in the health and education sectors.
He continued, "The reality of the economy is mainly related to the oil sector and its exports, and therefore the economy as a result is linked to all the changes that occur globally and the fluctuations that result from the rise or fall of oil prices."
Governmental steps that pushed to achieve growth
For his part, economic analyst Abdul Hassan Al-Ziyadi confirmed to the Iraqi News Agency (INA) that "growth should be invested in government programs to make the private sector succeed and achieve growth."
He added, "State-building needs serious steps to support the private sector by the next government."
In turn, economic analyst Salam Sumaisem pointed out that "the last report of the World Bank classified Iraq among the countries that achieved significant growth this year and considered it the first in the Arab reality, based on the steps taken by the government to address the phenomenon of inflation in the Iraqi economy and also the rise in oil prices globally."
And she stressed in her speech to the Iraqi News Agency (INA) that "the Iraqi government must invest additional resources by taking quick steps to revitalize the agricultural and industrial realities, as they face real problems and need a long time to solve."
The World Bank report expected that "Iraq's gross domestic product will grow during the current year by 8.9 percent, surpassing the rest of the Arab countries, including Qatar, which is expected to grow by 4.9 percent, Saudi Arabia 7 percent, Kuwait 5.7 percent, UAE 4.9 percent, Algeria 3.2 percent, Egypt 5.5 percent, and Jordan." 2.3 percent and Morocco 4.3 percent.
He added, "The growth of Iraq's GDP will be 4.5 percent, similar to Qatar, and it will rise in Egypt to 5 percent, Saudi Arabia will have 3.8 percent, Kuwait 3.6 percent, Algeria 1.3 percent, Tunisia 3.5 percent, and Jordan 2.3 percent."
The World Bank report indicated that "Iraq will also be the highest among the Arab countries in terms of per capita GDP growth during 2022, at 6.3 percent, while Saudi Arabia's per capita growth will be 5.5 percent, Kuwait 4.5 percent, Bahrain 1.4 percent, Egypt 3.6 percent, and Qatar." 4.5 percent, while Morocco will decrease 0.1 percent
Minister of Finance: The international community supports Iraq by implementing the white paper, and we do not need financial support
Minister of Finance Ali Abdul-Amir Allawi confirmed, on Thursday, Iraq's aspiration for a supportive international role in the implementation of programs, including the White Paper, and while stressing that the country is not in dire need of financial support at the present time, he announced the government's aspiration to expand the tripartite cooperation with Egypt And Jordan for the stage of the common market and other programs.
Allawi said in his speech on the sidelines of the spring meetings of the Bank and the International Monetary Fund in Washington, that "the main purpose of his visit to Washington and participation in meetings with an integrated team from the Ministry of Finance and major banks is to strengthen and deepen our relationship with international agencies."
He added, "The team is in talks with the US Treasury, as there are some important and outstanding issues that are not related to US financial support, because fortunately we do not urgently need financial support now, but we need more technical assistance and moral support for our reform program, which has been completed." Include it in what we call the white paper.”
He added, "I do not expect to conclude any major economic agreements with the United States, because we have the Strategic Framework Agreement and we are satisfied with it and we welcome the continuation of American support for the economic development of Iraq, but the focus now is more on what we can call programs and plans instead of money."
He continued, "What we need, is a revolution in our financial management, in our understanding of the strategic issues, and the economic issues facing the country," adding, "We have missed many opportunities that would have pulled the country out of its poor economic performance and Iraq probably missed the equivalent of 50 years of progress." economic".
He stressed, "We are stuck in inherited problems that must be addressed, almost all of which are related to institutions," noting that benefiting from the country's resources and its strategic location necessitates planning to re-engineer the economy to take us beyond the oil era, as there are major issues and challenges facing us and facing the next government and who will be responsible on the economic team.
On the white paper, Allawi stressed that "the year 2020 represented the most difficult economic period that we have gone through, and since 2003 we have gone through a moribund period that enabled us to see the future in which oil prices will collapse and global demand will decline, so the year 2020 was a glimpse of what could happen, and it was a very dangerous moment, And one of the factors that led us to look at the structural issues affecting the Iraqi economy.”
He continued, "The white paper can be reduced to its essence as (a strategic program to reform the governmental public sector), and the reason that led me to believe that the public sector needs reform is that the country is dominated by inherited issues that have imposed on the state certain structures, including an economy controlled by the state, which Despite all the rhetoric over the past 20 years, it has not succeeded in developing the private sector and the transition to a free economy, so we needed to address this problem."
And he indicated, "We need a public sector that will create a favorable environment that revives the private sector," stressing that "there is a whole series of reforms with regard to government procedures, policies, strategies and laws that needed a fundamental change, and we have counted 600 reform points, which must be implemented over five years." Years".
He noted that, “In 2020, as I said, when we experienced near-death experiences, government expenditures would have required $70 worth of oil if we adhered to the sales ratio allowed by OPEC of 2.8 million barrels per day, and the price of a barrel fell much lower and we did Selling a shipment of oil for only $9, so you can imagine the pressure on public finances."
He stressed that "public finance is very important because it is the main component of the economy that supports GDP instead of entering into international loans that put Iraq at the mercy of international agencies, and here we decided to confront the matter and design a program in a specific period of time, to eventually produce a radically different public sector; A new strategic vision for the country.
And he added, "This is part of a series of government proposals. The White Paper was approved as a whole package and became a government policy. Then it received strong parliamentary support from all the major political forces and the various Finance and Economic Committee supported the White Paper, so it became a government policy," explaining that "In 2021, we started the process of actually implementing the recommendations of the White Paper and established a unit attached to the Prime Minister’s Office, and it is now equipped with a full cadre so that this unit has its own representatives in all the main ministries that will supervise the implementation process.”
He added, "What we need to do now is to ensure that the momentum continues and the support of the international community continues. We need significant technical assistance in the form of specialists who are ready to commit. We do not want to hand the task over to consultants who come in temporarily for a few weeks or months. International Contact Group to provide a support base of technical experts.
On the tripartite relations between Iraq, Egypt and Jordan, Allawi stressed that "the relations focus primarily on the political file, and economic exchange may have a lesser role at the present time, and there is still talk of a common market or an attempt to establish a common market in its initial stages."
The Finance Minister continued,
And he indicated, "We are waiting for the formation of the new government and intend to produce a working paper that will define the pros and cons of this particular type of market, free trade zone or common market, but I think that Iraq must decide at some point what type of larger and broader economic framework should be put in place."
Al-Kazemi continues.. The framework reveals an unexpected thing regarding changing the parliamentary system to a constitutional presidential one
The leader in the coordination framework, Aid Al-Hilali, revealed today Thursday, that there are proposals to keep the current government
Al-Hilali said, in a statement to (Baghdad Today), that "there will be a trend for a constitutional change represented by abolishing the two-thirds majority and transforming the country's system into a presidential instead of a parliamentary one."
He added, "The political dialogues will witness their climax after Eid for the purpose of reaching an agreement on going to form the government with the consensus of all ".the political blocs, amid several initiatives launched recently to end the crisis
He pointed out, "There are proposals to keep the outgoing government of Mustafa ".Al-Kazemi He pointed out, "The initiative of the leader of the Wisdom Movement and the coordination framework has received a wide echo and great interest from the political forces, especially from the Sadrist bloc, the Sovereignty Alliance and other political ".parties
And he stated, "The initiative launched by the extension movement was misplaced, and they had to go with the nearby political parties, for their orientations is better ".than putting forward this initiative
Surprise disclosure: Insisting on the Food Security Law aims to disrupt the 2022 budget
Today, Thursday, the expert in Iraqi economic affairs, Jalil Al-Lami, warned against .the parliament's legislation of the Food Security Law, sent by the government
Al-Lami said, in a statement to (Baghdad Today), that "the government's insistence on passing the Food Security Law, the first and second reading of which took place in the House of Representatives, is a door to corruption, especially since an amount of twenty-four trillion Iraqi dinars has been allocated for this section."
And what is .decided in the draft federal budget for 2022 does not exceed five trillion Iraqi dinars And he indicated that "the government must pass the general budget and close these doors of corruption. The adoption of the Food Security Law is a harbinger of disrupting the general budget for 2022 and not passing it, and perhaps this is the ".main goal and the purpose of insisting on legislating this law
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