Financial Committee: There is no parliamentary request to reduce the exchange rate, and Article 11 stalled negotiations
Financial Committee: There is no parliamentary request to reduce the exchange rate, and Article 11 stalled negotiations
Posted, 3/25/2021 20:45
[Baghdad-Where]
The Parliamentary Finance Committee confirmed, on Wednesday, that Article 11 of the Kurdistan region is still delaying the finalization of the General Budget Law for 2021, while indicating that there is no representative request of the Central Bank to reduce the exchange rate.
Committee member Muhammad al-Shabaki said, according to the official agency, that “Article 11 related to the oil agreement, the region’s dues and settling accounts from 2004 to 2020 is still the obstacle that the negotiations between the parties to resolve the Maronite law have stalled because of it.”
He added, “The political blocs intervened to give a week for deliberation between leaders in the region to come out with a clear position on Article 11 and the region’s commitment to pay dues to the federal government and the latter’s commitment to the region’s dues.”
He pointed out that “reducing the exchange rate is the prerogative and policy of the Central Bank, and there is an agreement with the Ministry of Finance on the issue, and the House of Representatives and the Finance Committee have no income to do so.”
He pointed out that “there is no request to the House of Representatives and to address the Central Bank to reduce the exchange rate, but there are several parliamentary claims to reduce it.”
Earlier, Parliament Speaker Muhammad al-Halbusi announced the postponement of the budget vote until next Saturday.
The Media Department of the House of Representatives stated that “in view of the continuing discussions on the draft budget law, and to give the competent committees an opportunity for further review and scrutiny, it was decided to postpone the vote on the draft budget law until Saturday, March 27, 2021, at one o’clock in the afternoon.”
alliraqnews.com
