Sunday, February 2, 2025
Iraqi Parliament Approves First Amendment to General Budget Law for 2023-2025, 2 FEB
Iraqi Parliament Approves First Amendment to General Budget Law for 2023-2025
The Iraqi Parliament voted, on Sunday, on the draft law of the first amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.
For his part, independent MP Ahmed Majeed announced in a statement to Shafaq News Agency that members of the House of Representatives from the central and southern governorates boycotted the parliament session held today, considering that voting on the budget is "a violation of the law and the internal regulations of the council due to the lack of a legal quorum."
Majeed explained that "the number of representatives present does not exceed 140 representatives, which means that the quorum is not achieved," stressing that they doubt the legitimacy of the session.
He added: "We will file an appeal with the Federal Court against the House of Representatives for violating the law and proceeding with the vote on amending the budget law."
The Iraqi Council of Representatives held its fourth session of the first legislative term of the fourth legislative year a short while ago, headed by the First Deputy Speaker of the Council, Mohsen Al-Mandalawi, with the attendance of 176 representatives, and the boycott of about 50 representatives.
A parliamentary source told Shafaq News Agency, "The representatives of the Central and Southern Front boycotted the session in protest against the amendment of the budget law. The number of representatives of the Front is about 50 representatives, most of whom are independents."
The representative of the Central and Southern Front, Raed Al-Maliki, said during a press conference held in the parliament building with the participation of the representatives and attended by a Shafaq News Agency correspondent, "We are a group of representatives from the central and southern governorates who boycotted the parliament session on Sunday because of the paragraph amending the budget law."
Al-Maliki added, "We requested that there be a joint administration with the regional government, and that companies be obligated to review contracts, and that other articles be reviewed, including Article 14 of the budget law, in addition to other articles and the deficit in the budget law."
He stressed, "Our demands relate to implementing the rights of the central and southern governorates and financing the government contracting expenses of companies contracting with local governments."
Parliament Speaker Mahmoud Al-Mashhadani, who is currently visiting the Iranian capital Tehran, announced before his departure that Parliament will approve today, Sunday, amending the general budget in accordance with the text sent by the Council of Ministers.
Earlier today, the Coordination Framework, which brings together Shiite political forces, revealed the existence of a political agreement to pass the amendment to the budget law during the session of the Iraqi parliament scheduled to be held today.
The representative of the framework, Mohammed Radhi, told Shafaq News Agency, "There is a political agreement to pass the amendment to the budget law during today's session, as the text of the amendment was mentioned by the Iraqi government. There is a political and parliamentary will and desire to support the government's steps to resolve the differences with the region."
Radi added, "The agreement to pass the amendment to the budget law came in order to push the government to expedite sending the 2025 budget schedules, as no one wants to disrupt this budget, to prevent obstructing the construction and reconstruction process, and launching many strategic and important projects during this year."
The Finance Committee of the Iraqi Council of Representatives announced yesterday, Saturday, that the Council of Representatives will vote in today’s session, Sunday, on the government’s proposal to amend Article 12 of the General Budget Law.
The draft amendment to Article 12 of the Budget Law includes two paragraphs, the first of which relates to the costs of producing and transporting the Kurdistan Region’s oil after determining the actual estimated costs through the advisory body.”
As for the second paragraph, it stipulates that if the federal and regional governments do not agree on the costs of production and transportation, the Ministry of Oil shall choose a party to determine those costs, and as a result the cost of extracting oil from the oil fields in the region shall be calculated.
In June 2023, the Iraqi Parliament voted on the draft general budget law for the fiscal years (2023, 2024, 2025). link
MAJEED: "hope that funds will be released", 2 FEB
MAJEED
Kurdistan Region’s Minister of Finance Awat Sheikh Janab has described the meeting with the Iraqi Ministry of Finance as “positive,” expressing hope that funds will be released for the
Kurdistan Region on Sunday, while also stating that they discussed the technical issues surrounding the Region’s civil servants and pensioners’ payroll
LFGGGG
#BREAKING: Kurdistan Region’s Minister of Finance Awat Sheikh Janab has described the meeting with the Iraqi Ministry of Finance as “positive,” expressing hope that funds will be released for the Kurdistan Region on Sunday,
while also stating that they discussed the technical issues surrounding the Region’s civil servants and pensioners’ payroll.
Preparations for the Arab Summit in Baghdad are discussed by the foreign minister and assistant secretary-general, 2 FEB
Baghdad- INA
Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, and Assistant Secretary-General of the Arab League, Ambassador Hussam Zaki, discussed on Thursday the preparations for the Arab Summit in Baghdad.
A statement by the Ministry of Foreign Affairs received by the Iraqi News Agency (INA) stated that “Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, received the Assistant Secretary-General of the Arab League, Ambassador Hossam Zaki, and his accompanying delegation, which included a number of members of the Preparatory Committee for the Arab Summit in its (34) regular session, scheduled to be held in Baghdad.”
The statement added that “at the beginning of the meeting, Ambassador Hossam Zaki conveyed the greetings of the Secretary-General of the Arab League to the Minister, who in turn welcomed the delegation, expressing his thanks for this visit,” stressing Iraq’s keenness to “make the summit a success in a way that reflects the true image of Iraq as a country that enjoys security and stability.”
The statement continued, “During the meeting, the ongoing preparations for hosting the Arab Summit were discussed, as Hussein reviewed the efforts made by the Iraqi government to provide all logistical and technical requirements,” noting “the formation of specialized committees to supervise various organizational and technical aspects, and stressed the importance of enhancing continuous coordination with the League of Arab States to ensure achieving the highest levels of readiness.”
The statement continued, “The meeting witnessed an exchange of views on topics related to the summit’s agenda, especially political, economic and media issues,” explaining that “Iraq is working on preparing a comprehensive agenda that addresses the most prominent Arab issues, including enhancing Arab economic cooperation, and supporting efforts aimed at achieving security and stability in the region.”
For his part, Ambassador Hossam Zaki praised “the ongoing Iraqi preparations to host the summit,” stressing the Arab League’s support for “Iraq in organizing this important event.”
He expressed his “confidence that the summit will be an effective platform for enhancing joint Arab action and confronting regional challenges.”
The statement concluded, “The meeting comes within the framework of the intensive efforts made by the Iraqi government to ensure the success of the upcoming Arab Summit.”
TIDBIT FROM SANDY INGRAM, 2 FEB
Sandy Ingram
In the near future it's unlikely the Vietnam Dong will experience a significant increase in value against the U.S. dollar. Here's why: 1. Controlled Currency Policy. The Vietnamese government closely manages the value of the dong to maintain export competitiveness.
A stronger Dong could harm Vietnam's economy by making its goods more expensive globally. 2. Inflation and economic balance. Vietnam's bank is cautious about rapid changes to avoid destabilizing its economy.
3. Global dynamics. Vietnam's reliance on exports means its currency value is tied to global trade dynamics, including demand from the U.S. and Europe.
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