Al-Muhammadawi calls for 9 amendments to the budget bill before voting on it

Al-Muhammadawi calls for 9 amendments to the budget bill before voting on it

Monday 1 February 2021 | 02:57 PM

Al-Muhammadawi calls for 9 amendments to the budget bill before voting on itToday, Monday (February 1, 2021), the representative of the National Approach bloc, Jamal al-Muhammadawi, called for 9 amendments to be made to the draft budget law before voting on it.

Al-Muhammadawi said, in a statement, that “the most important amendments required to the 2021 budget are:

1. Abolishing the first paragraph of Article (11) that calculates the dues of the Kurdistan region for the previous years from 2014 to 2019, despite not having delivered the oil and non-oil revenues.

2. Paragraph Second – a of Article (11) is amended to be (The region is obligated to deliver 460,000 barrels per day to SOMO, and in the event that its production exceeds this amount, it is obligated to deliver it also to the Iraqi Oil Marketing Company (SOMO).

3. Adding Article Seven of the Current Deficit Financing Law (determines the Kurdistan region’s share of the total actual spending (current expenditures and investment project expenditures) after excluding the sovereign expenditures specified in the Federal Budget Law of the Republic of Iraq for the fiscal year 2021) and adding the expenditures of the Ministry of Oil, the Ministry of Transport and the Ministry of Resources Water and the inclusion of the security and defense sector in all its ministries and institutions to be included in the sovereign expenditures as well as the emergency reserve) on the condition that the Kurdistan region commit to handing over (460) thousand barrels per day to the Iraqi Oil Marketing Company (SOMO) exclusively, as well as deliver Mazad on those quantities and all non-oil revenues of the federal and in case Failure to comply with the region, expenses may not be paid to the region, and the violator of this provision bears legal responsibility).

4. Paragraph III (a, b, and c) that obliges the federal authorities to pay the region’s loans and financial obligations that it entered into in the years (2014 to 2019) shall be canceled.

5. Abolish Article (47) which permits the sale of financial assets to state public companies.

6. Abolish Article (38) which permits the privatization of service sectors and the oil wealth

7. Abolishing Articles (41, 42) that allow the sale of state-owned agricultural lands.

8- Reducing total expenditures to (100) trillion.

9- Abolishing Article 56 that excludes the deficit planned for the 2021 budget from the percentage stipulated in the Financial Management Law (the deficit in the planning budget may not exceed 3% three percent of GDP. It means that the planned deficit does not exceed (7) A trillion, if we assume that the gross domestic product is close to (220) trillion dinars. ”