If implemented in a country where the central bank struggles to impose its will, the move devalues the official rate of the dinar to the dollar for such …

Finance: The budget of 2019 approved the amount (55 – 60) dollars per barrel of oil

9/19/2018

The
Ministry of Finance revealed that the federal budget for the next year 2019 approved the amount of (55 – 60) dollars per barrel of oil and an export rate of up to four million barrels per day, including the source of the Kurdistan region, stressing the continuation of the payment of debt and the benefits of Iraq.

Undersecretary of the Ministry Dr. Maher Hammad Jouhan said a special statement for the "morning": The federal budget was prepared for the next year 2019, but not be stereotyped multi-directional, as the general situation of the country changed from the position it was for the past years and there is a great need to change or The various forms of financing,

both the general budget and other budgets, or the financing formulas, are supported by borrowing, entering into partnerships or finding outlets for the private sector.

He added that the current oil prices help to make these changes, as the budget to be submitted to the Council of Ministers, set the price of a barrel of oil exported between (55 – 60) dollars, giving the state a broader scope to strengthen services and social expenses such as salaries and expenses of education, health and medicine and expenses The ration card,

subsidies and social protection networks do not have a deficit either by allocating or financing and supporting the activities of projects that benefit the activity in the market, which activates the private sector in order to occupy its real space by providing job opportunities and infrastructure suitable for services or enhancing productive activities.

He pointed out that the federal budget adopted the amount of Iraqi oil exported daily between (3.8 – 4) million barrels, including the quantities exported from the Kurdistan region, and expressed the hope that the volume of this export, because Iraq currently exports only 3.8 million barrels and sometimes Less because of the different circumstances, especially the status of Kirkuk, which did not issue the prescribed amount.

He said that despite this, the rise in global oil prices helped to find the treatment of financing the deficit in the budget of up to 12.5 trillion dinars, which rose to 19 trillion dinars after the approval of the House of Representatives, explaining that the difference in prices helped to bridge the deficit, To external or internal borrowing, has returned to positive.

And on the debts of Iraq and whether there is a clause in the federal budget indicates that, the Undersecretary of the Ministry of Finance, there is an item of debt in the budget of 2018 and 2019, and there are debts of various denominations for the budget, both internal and external,

revealing that Iraq is currently paid within the table, 12 trillion dinars between The debts of the farmers have been paid for 2014, 2015, 2016 and 2017, denying the existence of any debt to farmers and contractors, and remained only 30 percent,

the ministry seeks to pay them by the beginning of next year , And It placed the text of the budget ensures the provision of appropriate allocation of funding.

http://www.alsabaah.iq/ArticleShow.aspx?ID=163359

Timings and budget constraints

9/19/2018

Mohammed Abdul Zahra al – Hindawi
general state budget represents one of the most important annual laws, this importance comes as drawing on operational and investment spending tracks in the country, as well as identifying the sources of income and the mechanisms available through different sources and the amount of deficit schematic or realistic.

And thus represent the state’s financial plan for next year, which includes the planned expenditures of ministries and provinces and various institutions in terms of securing salaries of employees, which reach about 40 trillion dinars annually, as well as the provision of allocations for investment projects carried out throughout the country.

These tracks are determined according to the forecast of revenues expected to be achieved through oil sales, which represent the largest share of budget funding, or through taxes and fees on services and revenues of border ports and contributions of
other sectors .

As a result of this importance, the budget enters into multiple tunnels and does not come out of them until after the painstaking efforts of all parties concerned starting from the ministries and governorates and independent bodies, which submit their annual programs, through the Ministries of Planning and Finance, up to the Council of Ministers, to the House of Representatives,

She returns again to enter into the same spending that she entered on the first trip because of the objections and observations of members of the House of Representatives, and then turn to resume the trip again.

Then passed by it must go to the Presidency of the Republic for approval and then to the fact sheet for publication, and then the Ministries of Planning and Finance to issue the implementation instructions, the government may challenge some items that the House of Representatives to change or
add.

Such a strenuous journey will take a period of time that in some years will cross the first third of the year or more. So as not to stand confused at the time unable to address the problems that may arise in the course of implementation.

And here we want to talk about the budget of 2018, which approved the price of a guess $ 46 per barrel, and a deficit reached about 13 trillion dinars, has been described as austerity budget because many aspects of spending was not allocated the amounts required due to lack of financial resources ..

After days began oil prices improve slowly Slowly, the Ministry of Finance began to speak of a financial abundance that helped fill the fiscal deficit in the
budget.

But the problem faced by the government, especially after the events in the province of Basra and other provinces, is how to provide financial allocations for doors not covered under the
budget law .

At a time when there was a huge financial abundance, the Ministry of Finance could not transfer funds between the doors because the law prevents this, nor could talk about the preparation of a supplementary budget in the absence of the House of Representatives.

Therefore, some articles of the budget law have become a constraint on the government in providing appropriate financial allocations to provide services despite the availability of
financial liquidity .

And here and because we are still in the early stages of preparing the budget for the next year 2019, and with optimistic expectations of the arrival of oil prices to about $ 80, there should be a clear vision of this budget and reconsider all its doors away from the political effects that were subject to the budget for the year 2018

due to synchronization Prepared with the end of the legislative session and therefore some of the visions that governed the preparation were political visions trying to establish for the
next stage .

We believe that the circumstances of Iraq now require the preparation of a budget capable of meeting the requirements of development properly, and the need to address all the problems that turned into constraints that tied the government’s hand in spending on vital and
strategic projects .

http://www.alsabaah.iq/ArticleShow.aspx?ID=163352


The central bank announces its sales rise to 191 million dollars
9/18/2018


The central bank’s foreign currency sales rose Tuesday to $ 191.56 million from $ 106.19 million in Monday’s auction of $ 85.37 million.

The exchange rate was 1190 dinars per dollar in the auction held with the participation of 35 banks and one company only for financial transfer, "the bank said in a statement.

The statement added that ‘these sales are the results of the auction on Wednesday,’ explaining that ‘total sales totaled $ 225.96 million’.

He added that ‘the volume of funds sold to strengthen banks’ assets abroad amounted to 190.06 million dollars, while the total amount of cash sold at $ 1.5 million’.

He explained that ‘the sale of amounts transferred to the accounts of banks abroad at the price of 1190 dinars per dollar, while the cash sale will be at the same price’.

http://www.ikhnews.com/index.php?page=article&id=172260

Empowering women key to building a sustainable peace in Iraq

Over the last few years, Iraq has gone through extraordinary changes, and Iraqis faced a unique set of difficult conditions exacerbated by conflict and terrorism.

Iraqi women in particular have had to bear a heavy burden, including internal displacement, economic hardship, violence and discrimination.

In response to the difficult and unique situation faced by Iraqi women, the Iraqi government in partnership with civil society, women groups and international organisations have developed a set of policies to address gender inequality, and to ensure women’s unhindered and equal participation in building the peaceful and prosperous Iraq that we all aspire to.

One of the most significant measures to empower women is the Iraqi National Action Plan to for women and girls (INAP), which was adopted to implement the United Nations Security Council Resolution 1325 on women, peace and security.

The launch of the INAP in February 2014 was a milestone for Iraq, making the country the first in the Middle East and North Africa region to adopt such a measure.

Resolution 1325 aims to achieve equal participation of women, and to promote gender equality in peace and security decision-making processes.

Iraq’s National Action Plan, which runs through to the end of 2018, sets out several goals to strengthen legal protection for women, identifies actions for increasing women’s participation at all levels in the political process and earmarks several pieces of legislation deemed to violate women’s rights with a view to either amending or repealing them.

And although the current National Action Plan does not specifically address some key areas such as women’s participation in conflict resolution and reconciliation, it remains a significant and timely policy reflecting the determination of the Iraqi government to address gender inequality in Iraq.

More importantly, it paves the way for Iraqi women to play a leading role in building an inclusive and sustainable peace.

(Source: Govt of Iraq)

Empowering women key to building a sustainable peace in Iraq

Over the last few years, Iraq has gone through extraordinary changes, and Iraqis faced a unique set of difficult conditions exacerbated by conflict and terrorism.

Iraqi women in particular have had to bear a heavy burden, including internal displacement, economic hardship, violence and discrimination.

In response to the difficult and unique situation faced by Iraqi women, the Iraqi government in partnership with civil society, women groups and international organisations have developed a set of policies to address gender inequality, and to ensure women’s unhindered and equal participation in building the peaceful and prosperous Iraq that we all aspire to.

One of the most significant measures to empower women is the Iraqi National Action Plan to for women and girls (INAP), which was adopted to implement the United Nations Security Council Resolution 1325 on women, peace and security.

The launch of the INAP in February 2014 was a milestone for Iraq, making the country the first in the Middle East and North Africa region to adopt such a measure.

Resolution 1325 aims to achieve equal participation of women, and to promote gender equality in peace and security decision-making processes.

Iraq’s National Action Plan, which runs through to the end of 2018, sets out several goals to strengthen legal protection for women, identifies actions for increasing women’s participation at all levels in the political process and earmarks several pieces of legislation deemed to violate women’s rights with a view to either amending or repealing them.

And although the current National Action Plan does not specifically address some key areas such as women’s participation in conflict resolution and reconciliation, it remains a significant and timely policy reflecting the determination of the Iraqi government to address gender inequality in Iraq.

More importantly, it paves the way for Iraqi women to play a leading role in building an inclusive and sustainable peace.

(Source: Govt of Iraq)