TNT – “Tidbits From TNT” Monday 5-27-2024


Tishwash:  We are not Qashmars.” Parliamentary Finance reveals a surprise about the 2024 budget and reveals what is hidden

A member of the Parliamentary Finance Committee, Mustafa Jabbar Sanad, revealed that stopping disbursement in the 2024 budget is due to the lack of cash liquidity, as there is a need for 17 trillion per month, while all revenues do not reach the limits of 10 trillion, so the problem is the lack of money whether it is Vote on the budget in the House of Representatives or not.

Sanad said in a voice print seen  that “the budget tables, whether voted on by the House of Representatives or not, will not stop the budget, as the tripartite budget came to treat the annual budget, knowing that the annual budget has no problem if it comes.”

The annual budget has ended and the year after which the Operational Financial Management Law is implemented, 1/12 is spent, and investment is spent on completed work sectors, that is, when the contractor completes his work, he receives his money even if he exceeds the governorate’s allocations for the previous year, and this was implemented in 2022, and the Minister of Planning had an important role in it. Crafting this story.”

The representative explained, “The tripartite budget is approved schedules, but it is not permissible and there is no justification for stopping disbursement, and stopping disbursement is due to the lack of cash liquidity, as the 2023 budget was 206 trillion, and it was exceeded by 8 trillion, and revenues are approximately 130 to 140 trillion.” Per year, therefore, according to the 2024 budget, there is a need for 17 trillion to be spent per month.

 Where are these amounts obtained from?

At a time when oil revenues are 8 to 9 trillion, and there are licensing expenses that are obtained in addition to the revenues that come from taxes, customs, and others. There are also 400 thousand barrels from the region, and all of these will not reach 10 trillion per month, so the problem is the lack of money whether the budget is voted on in the House of Representatives or not.”

A member of the Finance Committee pointed out that “the 2023 budget was voted on, but the governorates were funded with only 30 percent of their entitlements, and the same is true with the ministries and investment. This is all a clear game, and we (are not Qashmars), but rather understand state affairs.”  link


Tishwash:  A government advisor reveals a plan to reduce the budget deficit

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the variables of the financial tables for the 2024 budget are consistent with the constants of the tripartite budget, and while he indicated that the pattern of spending will contribute to reducing the deficit, he pointed to the presence of high discipline in maximizing non-oil revenues.

He pointed out that “oil prices are still higher than their estimates in the tripartite budget of $70 per barrel, with a positive change rate of more than 16 percent above the approved price, and we are approaching the middle of the fiscal year while maintaining the export rates approved in the budget and managing oil production efficiently and in accordance with… International agreements with OPEC on the issue of controlling production quotas.”

He added, “There is high discipline in maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods, and information technology in tax and customs estimation, estimation, and collection.”

He pointed out, “Seeking to impose discipline on operational expenditures and keeping spending on them within acceptable minimum limits, in addition to being keen to raise the efficiency of investment spending and operating all approved projects, in order to ensure a high growth rate in the gross domestic product at a rate exceeding twice the population growth rate, by launching a movement New projects without delay or stop. 

Saleh stressed that “the pattern of public spending, according to the schedules announced, is characterized by accuracy, objectivity, and self-savings, which contributes to reducing the resort to financing the actual deficit, even when needed, through internal borrowing and within limits that ultimately do not exceed the acceptable international standard ratio for financing the deficit, which is.” 3 percent of the country’s total gross domestic product. link


Tishwash:  With three explosive devices… targeting the KFC restaurant in Al-Jadriya

A security source reported today, Monday, that the KFC restaurant in central Baghdad was subjected to an armed attack.

The source told Mawazine News, “The KFC restaurant in Baghdad was completely damaged after it was subjected to an armed attack with three explosive devices.”

It is noteworthy that the restaurant had previously received repeated threats and witnessed popular demonstrations in front of its building due to the ongoing war in Gaza.

 Iraqi security forces on Sunday announced the arrest of two gunmen who targeted a branch of popular fast food restaurant KFC in Baghdad by throwing a homemade “explosive device” at the front door. 

A KFC restaurant branch in Baghdad’s Palestine Street was targeted on Saturday night by two suspects on a motorcycle who “threw a homemade explosive device,” Baghdad Operations Command said in a statement. 

“After following the surveillance cameras and tracking down the perpetrators, their identities were revealed and they were caught and arrested,” the statement said, adding that their pistols were also confiscated. 

The attack resulted in material damage to the entrance of the restaurant. 

A world-renowned American fried chicken chain, KFC is among a number of Western brands that have been subject to boycott calls over their alleged links to Israel, with boycotts in the Muslim world particularly slashing the earnings of many popular chains including McDonald’s and Starbucks. 

The boycotts are in response to Israel’s deadly military campaign against the Gaza Strip which has killed over 35,700, according to the Palestinian health ministry. Israel’s campaign was in retaliation to a large-scale incursion into southern Israel by Palestinian Hamas militants based in Gaza, which killed over 1,170. 

Iraq is a staunch supporter of the Palestinian cause and has on several occasions condemned the lack of global support for justice for Palestinians. 

KFC also has several branches in the Kurdistan Region’s capital of Erbil, and an additional branch in Duhok city. link