{Political: Al Furat News} A member of the Kurdistan Democratic Party, Ali Al-Faili, announced that the terms of the agreement between the federal government and the Kurdistan Region regarding the region’s share of the financial budget for 2021 began today and entered into force.
“Today, the implementation of the agreement between Baghdad and the region has begun to pay 200 to 250 billion dinars to the Kurdistan region per month, according to oil prices,” Al-Faili said in the program “Al-Mastra”, broadcast by Al-Furat satellite channel this evening.
He added that “the oil of the Kurdistan region began to deliver oil to Baghdad and what the region receives from Baghdad after the liquidation of all dues,” noting that “Baghdad received the value of 250 thousand barrels per day, 50% of the imports of the region’s outlets, and 50% of the non-oil imports.”
Al-Faili pointed out that “there is an attempt to distort the issue and hold the neck of the truth and to reach it there is a logic that the 200 billion dinars, if multiplied in 12 months, equals 2 trillion and 400 billion billion, which represents only 20% of the region’s entitlement.”
He explained that “the amount sent to the region is what remains owed by Baghdad to Kurdistan, and it may be to pay the salaries of employees only.”
Baghdad / Obelisk: The Parliamentary Finance Committee, on Wednesday, June 16, 2021, called on the Council of Ministers to adhere to the literal provisions of the Federal General Budget Law for the year 2021 regarding the mechanisms for disbursing the entitlements of the Kurdistan region, as there is no jurisprudence in the source of the text.
A statement by the committee said, “The budget law has drawn clear mechanisms that are not subject to interpretation or courtesy to deal with this issue, as it identified the obligations of the regional government and the federal government in this regard.”
The statement held “those violating the provisions mentioned in the budget law legal responsibility for any violation in this regard.”
On Wednesday, June 16, 2021, the President of the Kurdistan Regional Government, Masrour Barzani, announced that an agreement had been reached with the federal government, according to which the dues from the federal budget would be sent back to the region with a retroactive effect starting from January 2021.
Barzani said in a blog post, “I spoke with Federal Prime Minister Mustafa Al-Kazemi within the framework of the ongoing negotiations and commitment to making the relationship between Erbil and Baghdad more clear.”
Barzani continued, “I am pleased to announce that an agreement has been reached according to which the dues from the federal budget will be sent back to the Kurdistan Region, with a retroactive effect, starting from January 2021.”
According to the post, Barzani stated, “During our phone call, I thanked him for his leadership, and I thanked the federal government for its support for this important turning point, through which we together overcame this difficult and long-standing obstacle.”
Shafaq News/ The Council of Ministers of Kurdistan Region discussed today, Wednesday, the ongoing preparations for the Kurdistan Region budget bill for the year 2021, and decided to return to normal working hours in government institutions starting next week.
This came during the council’s regular meeting chaired by Prime Minister Masrour Barzani and in the presence of Deputy Prime Minister Qubad Talabani.
At the beginning of the meeting, according to a statement received by Shafak News Agency, the Prime Minister renewed the Kurdistan Regional Government’s commitment to the federal general budget law, and valued the federal government’s affirmation of its commitment to implementing the law and sending the region’s share of the budget. The Prime Minister also thanked the government negotiating delegation for performing its tasks He successfully defended the region’s rights and financial dues, and expressed his hope that “the agreement will contribute to improving the financial situation in the Kurdistan Region.”
After that, the Prime Minister highlighted the visit of a high-ranking KRG delegation to Belgium and Greece, and indicated that senior officials in the two countries expressed their readiness to continue cooperation and support the reform program initiated by the Kurdistan Regional Government, and indicated that they view the Kurdistan Region and its position with an eye. consideration, as it is an important factor in the stability of the region.
Then the Deputy Prime Minister and members of the negotiating delegation presented the latest developments on the negotiations with the relevant ministries in the federal government regarding the development of a mechanism for the implementation of Article 11 of the Federal General Budget Law for the year 2021.
In another part of the meeting, Minister of Finance and Economy Awat Sheikh Janab reviewed the latest preparations underway on the Kurdistan Region’s budget bill for the year 2021.
At the conclusion of the meeting, the reorganization of the working hours of the Kurdistan Regional Government departments was discussed, and it was decided to return to normal working hours in government institutions as of next week.
On Wednesday, the spokesman for the Kurdistan Regional Government, Jotiar Adel, confirmed Kurdistan’s serious commitment to implementing the provisions of the federal financial budget for the current year.
Adel said in a press conference, which was followed by “the information”, that “the regional government handed over to the federal government all the required data regarding the implementation of the budget items.”
Adel pointed out that “the joint work between the Office of Oversight in the region and the federal government continues to work, and there is a great development, and they will certainly have reports and we will publish them in the future.”
He added that “the Kurdistan region’s oil production is 430,000 barrels per day, 30,000 barrels per day of which go for local consumption.”
Regarding the salaries of the region’s employees, “we decided that the salaries would be paid every 30 days, and they are committed to it. It may be delayed for a day or two, but it will not be more than that.” finished 25
Oil prices rose on Wednesday, with Brent crude rising for the fifth consecutive session, as falling inventories and recovering demand encouraged investors.
Brent crude rose 64 cents, or 0.86 percent, to $74.63 a barrel by 05:18 GMT, after rising 1.6 percent on Tuesday.
US crude rose 57 cents, or 0.80 percent, to $72.89 a barrel, after rising 1.7 percent in the previous session.
Oil stocks fell 8.5 million barrels in the week ending June 11, according to two market sources, citing figures from the American Petroleum Institute on Tuesday.
Executives of top oil traders said Tuesday that they expect prices to remain above $70 a barrel and demand to return to pre-pandemic levels in the second half of 2022, after recovering across the United States, Europe and some large countries in Asia such as China.
Shafaq News/ The Kurdistan Regional Government confirmed, on Wednesday, its serious commitment to implementing the provisions of the federal financial budget for the current year.
Government spokesman Jutiar Adel said in a press conference, after the weekly session of the regional government, “We showed seriousness in adhering to what was stated in the Iraqi budget law.”
He added that the regional government handed over to the federal government all the required data regarding the implementation of the budget items.
Baghdad / Obelisk: A member of the Finance Committee, Abdul Hadi Al-Saadawi, stated, Wednesday, June 16, 2021, that an appeal will be submitted to the Federal Court regarding the decision to spend 200 billion per month for the Kurdistan region by the federal government.
Al-Masoudi said in a statement received by “The Obelisk” that a decision will be issued to disburse an advance to the Kurdistan region in the amount of 200 billion per month, starting from one month for the year 2021, and this is contrary to the Federal Budget Law.
He added: Without calculating non-oil revenues, noting that, in implementation by the Ministry of Finance, 250,000 barrels at a price of 61 dollars are calculated, so the federal government is requesting the region because this is in violation of Article 11 of the General Budget Law.
He continued: We will submit an appeal to the Federal Court.
The region’s share in the draft budget is 12.67, in return for the region to ensure the delivery of 250 thousand barrels of oil per day to SOMO, in addition to 50 percent of the imports of border ports in the region.
On August 15, Baghdad and Erbil reached an agreement to send the federal government 320 billion dinars per month to the Kurdistan region until a vote on the budget law, for a period of 3 months.
On November 12, the Iraqi parliament approved the law to finance the fiscal deficit, despite the withdrawal of the representatives of the Kurdish blocs in objection to the article that stipulates the determination of the Kurdistan region’s share of the total actual spending, provided that the Kurdistan region is committed to paying the values of oil exported from the region, in the quantities determined by the company SOMO exclusively, and non-oil federal revenue. In the event of non-compliance by the Region, the expenses may not be reimbursed to the Region.
Shafaq News/ The exchange rates of the US dollar fell against the Iraqi dinar, on Wednesday, on the main stock exchange in the capital, Baghdad.
Shafaq News Agency correspondent said that the Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad recorded, today, 149,200 Iraqi dinars for every 100 US dollars.
The Central Kifah Stock Exchange recorded, during its opening yesterday morning, 149,550 Iraqi dinars, compared to 100 dollars.
Our correspondent indicated that buying and selling prices decreased in banking shops in the local markets in Baghdad, where the selling price amounted to 149750 Iraqi dinars, while the purchase prices amounted to 148750 dinars per 100 US dollars.
In Erbil, the capital of the Kurdistan Region, the price of the dollar also decreased, as the selling price reached 149,350 dinars per 100 US dollars, and the purchase price was 149,000 dinars per 100 dollars.
The owners of the exchange offices attributed the decline in the American operation against the dinar to the bank’s recent increase in its sales of dollars to banks and exchange companies, starting this week.
The increase in sales came after a surge of the dollar against the dinar in the Iraqi markets last week, during which the exchange rate exceeded 150 thousand dinars per 100 dollars.
Shafaq News/ Qubad Talabani, Deputy Prime Minister of Kurdistan Regional Government announced on Wednesday that the Federal Council of Ministers decided to release the region’s share of the financial budget for the year 2021.
In a speech today on the sidelines of the HITEX exhibition in Erbil, Talabani said: The Iraqi Council of Ministers decided yesterday to launch the region’s budget (..) We hope that this step will be a new page in the relations between Baghdad and Erbil.
He also added: We hope that this step will ease the challenges facing the region.
Regarding the importance of the HITEX exhibition, he said: The goal is not to make the government electronic, but rather to have good governance.
He also said: Before taking advantage of technology, we did not know the number of employees, how they are and where they are? But when we started with the biometric system, we benefited greatly from the sciences of technology.
He continued by saying: We wanted to know how much we pay from salaries and how to pay?, adding: We want to announce that soon we will distribute 475,000 “UPN” to employees.
He added by saying that: This will make it easier for us to eliminate those who receive two or three salaries at the same time.
He added: We want to speed up the process of registering companies, because currently the process takes between 28 and 31 days if you do not have any problems, but we seek to make the registration process within 24 hours, noting that this process may strike the interests of some parties or institutions, but we insist on Program implementation.
On Tuesday, the Prime Minister of Kurdistan Regional Government, Masrour Barzani, announced that an agreement had been reached regarding the region’s entitlements in the federal budget.
Barzani said in a tweet on Twitter, which was seen by Shafak News Agency; “I spoke with Federal Prime Minister Mustafa Al-Kazemi as part of the ongoing negotiations and commitment to making the relationship between Erbil and Baghdad more clear.
He added, “I am pleased to announce that an agreement has been reached according to which the dues from the federal budget will be sent back to the Kurdistan Region, with a retroactive effect, starting from January 2021.”
Shafaq News/ The Kurdistan Democratic Party bloc in Kurdistan Parliament welcomed on Wednesday the approval of the Iraqi Council of Ministers to send the region’s share of the financial budget for the year 2021.
The bloc’s spokesman, Peshwa Hawrami, said in a press conference held today, that if this last agreement comes into force and the federal government sends the region’s share, it will be an outlet or a key to resolving all differences and outstanding issues between Erbil and Baghdad.
And he added: It is also clear that the differences between Erbil and Baghdad are not limited to the budget only, and there are other issues that need dialogue, agreement and solution.
Hawrami went on to say that the federal government pledged to send the region’s budget from the general budget as soon as possible, and we hope that the issue of salaries will have priority in the region’s share of the budget.
A spokesman for the Democratic bloc confirmed that the regional government had, during the previous period, to pay the salaries of employees from its internal revenue.
On Tuesday, the Prime Minister of Kurdistan Regional Government, Masrour Barzani, announced that an agreement had been reached regarding the region’s entitlements in the federal budget.
Barzani said in a tweet on Twitter, which was seen by Shafak News Agency; “I spoke with Federal Prime Minister Mustafa Al-Kazemi as part of the ongoing negotiations and commitment to making the relationship between Erbil and Baghdad more clear.
He added, “I am pleased to announce that an agreement has been reached according to which the dues from the federal budget will be sent back to the Kurdistan Region, with a retroactive effect, starting from January 2021.”
Search 4 Dinar 