Because it's related to the re-export of oil produced from oil fields to the Turkish port of Ceyhan via Somo. The Ministry of Finance will finish preparing the tables and sending them to a council
The ministers to vote on it in the middle of next month, noting that the council The ministers will vote on the tables without delay and then send them to the House of Representatives for a vote on her".
On Monday, an official source in the Iraqi Ministry of Finance reported that a delay in sending The federal budget tables to the Council of Ministers relate to the amendments to Article 12 of the Law Budget.
And pass The Iraqi parliament recently amended the general budget related to Article 12, settled A dispute between the Kurdistan region and the federal government over the receipt of the region's oil.
And overall In June 2023, the Iraqi parliament voted on the budget bill General for financial years (2023, 2024, 2025), to approve budget tables for those Years, it is sent by the Iraqi government to parliament for a vote.
And he said The government source for the Twilight News Agency, "The Ministry of Finance has been working on Preparing the general budget tables for the year 2025, in order to send them to the Council of Ministers For approval. "He drew Until "the Ministry of Finance will finish preparing the tables and sending them to a council The ministers to vote on it in the middle of next month, noting that the council The ministers will vote on the tables without delay and then send them to the House of Representatives for a vote on her".
And announced Yesterday, Sunday, the Federal Ministry of Oil completed the necessary procedures to complete Exporting oil produced in the Kurdistan region through the Turkish port of Ceyhan, confirming that these The step comes according to the mechanisms specified in the budget law and its amendment, and within the production ceiling The Rapporteur for Iraq in the "OPEC" organization.
The negotiating delegation of the Kurdistan Regional Government to announce the Ministry of Oil at the invitation of the government Federalism to implement its obligations before proceeding with the oil export process.He explained The delegation stated that despite the regional government’s assertion of its commitment to implement the first amendment law
The Federal Public Budget Law, related to the re-export of oil produced from fields Territory to the Turkish port of Ceyhan via "Somo", the application of the law Agreement requires several key points, including the determination of quantities for consumption Local in the region, in proportion to actual needs, similar to other regions Iraq, and to establish a clear and specific mechanism for paying the dues of production and transport companies to a government Territory, according to the law.
Cooperation Between Iraq And The ITIC Center To Promote Tax Reform
Economic 2025/02/24 Baghdad: Hussein Thaghab In a move that is a qualitative shift towards promoting tax reform, an Iraqi local institution signed a strategic cooperation agreement with the International Center for Taxes and Investment (ITIC) in Washington, with the aim of supporting efforts to reform the tax system in Iraq.
This agreement, signed by the "Asset" organization, came at a time when the data showed the increase in tax revenues during the year 2024 to more than 3.5 trillion dinars, which reflects a remarkable improvement in managing this vital sector.
The Chairman of the tax reform committee, Counselor Dr. Abdul Hussein Al-Anbaki,
the agreement as an "important step towards reforming the tax system in Iraq", stressing that
cooperation with ITIC represents a qualitative shift in the reform process. Al-Anbaki told Al-Sabah:
“The International Center provided a team of full -time experts specializing in tax reform to
study the current reality of taxes in Iraq, and work to reform the pillars of this sector.” He added:
“Our goal is to build a fair and transparent tax system,
dependent on best practices International, and contributes to strengthening the investment environment and supporting the national economy."
He continued: "We pay great attention to the private sector, as we seek to attract investments by providing an ideal environment.
Our supreme goal is to raise the contribution of the private sector to GDP in greater proportions."
For his part, Khaled Al Jabri, head of the "Assets" organization and member of the Higher Committee for Tax Reform in Iraq, described
this partnership as "an important and strategic step towards strengthening international cooperation in the field of tax and investment reforms in Iraq." Al-Jabri told Al -Sabah:
“This cooperation contributes to achieving a more transparent and sustainable economic environment, and enhances non-oil revenues by improving the business environment, especially for foreign companies operating in Iraq or that wish to enter the Iraqi market.”
He added:
"This cooperation works to provide the Iraqi government with the expertise necessary to
achieve growth in all areas of the economy, and to enhance non-oil national imports at the expense of oil imports."
Al-Jabri pointed to the growth of tax revenues in Iraq, as the year 2024 witnessed the investigation of tax revenues of 3.755 trillion dinars, stressing that
the work continues to address the main problems that hindered the performance of the tax system for a long time. He revealed that the coming days will witness the treatment of three main problems that have burdened the taxpayers, the
first of which is the problem of similarity of names, which are being addressed through an advanced digital system that prevents procedural errors.
Inquiry about the taxpayers will also become completely digital, which facilitates the knowledge of the tax situation without the need to review the body. In addition,
inquiries about companies will become an electronic available for government departments, which enhances transparency, encourages investment and speeds up procedures." He pointed out that the
role of the Supreme Committee for Tax Reform in achieving growth is clear, as the Supreme Committee for Tax Reform contributed directly to improving revenues,
by organizing the tax administration within the General Tax Authority, which
helped reduce corruption and celerate the completion of transactions, and issue motivational decisions such as exempting the taxpayers Of fines and benefits, which encouraged them to pay the dues. https://alsabaah.iq/110620-.html
In a recent video update, Militia Man discusses the significant advancements Iraq is making in digital transformation and economic recovery. The Iraqi government is actively working to modernize its ministries through a digital transformation initiative aimed at enhancing efficiency, transparency, and cybersecurity.
This initiative is part of a broader regional effort to align Arab countries with global digital standards. The Prime Minister is committed to establishing centers to bolster cybersecurity and digital governance. Additionally,
Iraq is navigating the complexities of oil exports, international relations, and tax reforms while aiming to stimulate economic growth and reduce reliance on foreign technologies. The upcoming population census will enable fair resource distribution, and the country is on track to eliminate a significant portion of its foreign debt by 2028, positioning itself for enhanced international cooperation and investment opportunities.
🚀 Digital Transformation Push: Iraq is racing against time to complete its digital transformation, aligning with global developments.
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Cybersecurity Centers Established: The government is setting up dedicated centers for digital transformation and cybersecurity to protect vital sectors.
🛢️ Oil Export Resumption: The Kurdistan region is expected to resume oil exports within a week, pending Turkey’s approval.
📊 Population Census: After four decades, Iraq is conducting a census to ensure fair distribution of resources among its citizens.
💰 Debt Reduction: Iraq has significantly reduced its foreign debt burden, aiming to eliminate it completely by 2028.
🌍 Economic Opportunities: Strategic projects like the Development Road and Grand Faw Port are seen as key drivers for Iraq’s economic integration into the global market.
📈 Tax Reform Initiatives: A cooperation agreement with the International Tax and Investment Center aims to reform Iraq’s tax system and enhance transparency.
Key Insights
🌐 Digital Transformation as a Priority: The Iraqi government’s emphasis on digital transformation highlights its recognition of the need to modernize its administrative functions. By establishing specialized teams to evaluate the progress of various ministries, Iraq is demonstrating a commitment to not only digitization but also to addressing bureaucratic inefficiencies that have long plagued governance. This approach seeks to streamline processes and enhance service delivery to citizens, ultimately fostering a more efficient government.
🔒 Cybersecurity as a Necessity: With the increasing reliance on digital systems, cybersecurity emerges as a critical concern. The planned establishment of cybersecurity centers indicates a proactive stance in safeguarding national interests against cyber threats. This is essential not only for protecting financial institutions and vital services but also for building public trust in digital governance. As Iraq invests in these protective measures, it aligns itself with global standards for cybersecurity, which is crucial for attracting foreign investment.
🤝 Strengthening International Relations: The collaboration between the Iraqi government and the Chalan American Chamber of Commerce signifies an important step toward fostering economic ties with the Iraqi diaspora. By activating the Chamber, Iraq aims to leverage the financial resources and expertise of its expatriates to stimulate investment back home. This relationship is pivotal in rebuilding the economy and revitalizing local communities, especially in regions like Nineveh that are in recovery from conflict.
📊 Population Census as a Game-Changer: The decision to conduct a population census after 40 years represents a monumental step towards accurate data collection, which is vital for resource allocation and planning. The census will allow the government to understand demographic shifts and needs better, ensuring that development programs are tailored to the actual population landscape. This data-driven approach is likely to enhance transparency and accountability in governance.
💵 Sustainable Debt Management: Iraq’s efforts to reduce foreign debt significantly enhance its economic stability. With debts projected to fall below $9 billion by 2028, the government is positioning itself to operate without the constraints typically imposed by external creditors. This financial freedom allows Iraq to allocate resources toward development projects and social services, fostering a more resilient economy.
🌍 Strategic Economic Projects: The Development Road and Grand Faw Port projects are not just infrastructural endeavors; they are strategic initiatives aimed at integrating Iraq into the global economy. By facilitating trade and improving logistical capabilities, these projects are expected to create numerous job opportunities and stimulate economic activity across various sectors, including tourism and technology.
📉 Tax Reform for Economic Growth: The partnership with the International Tax and Investment Center marks a significant shift towards creating a fair and transparent tax system in Iraq. By addressing prior inefficiencies, the government aims to enhance the investment climate, encouraging both local and foreign businesses to engage with the Iraqi market. This initiative is expected to bolster non-oil revenues, which are crucial for diversifying the economy away from its historical dependence on oil exports.
In summary, Iraq is at a pivotal moment in its journey towards modernization and economic recovery. The government’s comprehensive approach to digital transformation, cybersecurity, international relations, and debt management reflects a forward-looking vision aimed at integrating Iraq into the global community. These efforts are not just about immediate gains but are foundational steps toward sustainable growth and stability in the years to come. As the country navigates these changes, the potential for economic revitalization and improved quality of life for its citizens becomes increasingly tangible.
Shafaq News / The Council of Ministers voted on Tuesday on the new draft of the Popular Mobilization Commission law, while referring it to the House of Representatives for a vote.
A brief statement from the Prime Minister’s Media Office, which was received by Shafaq News Agency, said that “the Council of Ministers approved during today’s session, the new draft of the Popular Mobilization Commission law, and referred it to the House of Representatives for a vote on it.”
The Presidency of the Iraqi House of Representatives decided, in the middle of this month, to withdraw the agenda of the session, which included voting on the Popular Mobilization Law, following political differences over its passage, while the regular session was postponed at the time.
Earlier, the deputy of the Sadiqoun parliamentary bloc, Rafik Al-Salhi, revealed to Shafaq News Agency, the agreement of the political blocs to resolve the service and retirement law for the popular mobilization in the next sessions of parliament.
An informed source reported last week that the forces of the coordination framework agreed to pass the service and retirement law to the popular crowd, provided that an amendment to one of its controversial paragraphs is added
🌍 Economic Resilience: Iraq holds over $100 billion in reserves and seeks to maintain access to its oil revenues amidst U.S. sanctions.
⛽ Oil Export Resumption: An agreement has been reached to resume oil exports from the Kurdistan region, signaling a potential economic revival.
🔄 Currency Dynamics: Discussions on the Iraqi dinar’s value highlight the need for a real effective exchange rate and compliance with international monetary standards.
🛢️ Oil Infrastructure Revival: The Kurdistan oil export pipeline is set to be operational again, marking a significant milestone for the region’s economy.
📈 Diversification Efforts: Iraq is actively working on diversifying its economic map beyond oil, including developing precious metal resources.
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Geopolitical Context: The U.S. maximum pressure policy on Iran presents challenges for Iraq, which must navigate its relations to sustain its economy.
💡 Future Outlook: Analysts predict that a significant change in Iraq’s financial landscape may occur, potentially impacting the dinar’s valuation.
Key Insights
📊 Economic Dependence on Oil: Iraq’s economy heavily relies on oil revenues, and any disruption caused by geopolitical tensions, particularly U.S. sanctions against Iran, directly affects its financial stability. The $100 billion in reserves acts as a cushion, but long-term sustainability will require diversifying income sources. This dependence highlights the vulnerability of Iraq’s economy to external pressures.
🇮🇷 Impact of U.S. Sanctions on Iran: The renewed U.S. maximum pressure policy against Iran poses a dual challenge for Iraq. On one hand, it restricts Iran’s economic activities, which could lead to increased instability in the region. On the other hand, Iraq must navigate its relationship with Iran, given that Iran serves as an economic partner and a conduit for hard currency. This complex relationship necessitates careful diplomatic maneuvering.
🛢️ Resumption of Oil Exports: The confirmation of resumed oil exports from the Kurdistan region is a critical development. It not only signifies a return to normalcy after disruptions but also indicates the importance of Turkey’s approval in this process. The successful resumption could lead to increased revenue for Iraq, bolstering its economic position.
💱 Future of the Iraqi Dinar: The discussions surrounding the Iraqi dinar suggest a potential shift in its valuation, dependent on establishing a real effective exchange rate. Analysts argue that without an exchange rate, circulating bonds will face skepticism. This uncertainty must be resolved for the dinar to regain value, which is crucial for restoring public confidence in the currency.
🌱 Diversification Beyond Oil: The move towards developing Iraq’s non-oil sectors is a promising sign of economic modernization. With abundant resources in gold, silver, and phosphate, Iraq has the potential to tap into a broader economic base. This diversification is essential for reducing reliance on oil, which has historically made the economy susceptible to global price fluctuations.
🔧 Infrastructure Development: The revival of the Kurdistan oil export pipeline indicates a significant commitment to improving Iraq’s oil infrastructure. This is not merely about immediate oil sales but signifies a longer-term strategy to enhance operational capacity and reliability in exports. A robust infrastructure is vital for future investments and economic growth.
🌍 Geopolitical and Economic Intersection: The intersection of geopolitics and economic strategy in Iraq is becoming increasingly pronounced. With U.S. policies affecting regional dynamics, Iraq must carve out a path that balances external pressures with its national interests. This balancing act will be crucial for Iraq’s economic stability and growth in the coming years.
This EXPLAINS why BUDGET TABLES DELAYS. 
The Ministry of Finance will finish preparing the tables and sending them to a council 
