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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    An economist estimates the costs of returning the exchange rate to before the change

    Rocky
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    • Post n°1

    An economist estimates the costs of returning the exchange rate to before the change Empty An economist estimates the costs of returning the exchange rate to before the change

    Post by Rocky Sun 27 Feb 2022, 6:49 am

    [size=30]An economist estimates the costs of returning the exchange rate to before the change
    [ltr]2022.02.27 - 10:59[/ltr]
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    Baghdad - people  
    On Sunday, Nabil Al-Marsoumi, professor of economics at the University of Basra, explained the costs of returning the exchange rate to before the change, and the repercussions of this on the Iraqi economy.  
      
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    Al-Marsoumi said in a post followed by “Nass” (February 27, 2022), during which he asked, “How much will Iraq lose in the event of a return to the old exchange rate?”, while he answered at the same time, noting that “the expected net oil revenues in 2022 amount to 70 billion dollars.” (After subtracting the costs paid to oil licensing companies and government imports), while oil revenues are denominated in dinars at the current exchange rate of 101.5 trillion dinars, and oil revenues are denominated in dinars at the old exchange rate of 78.260 trillion dinars.  
      
    And between, "the difference between the two prices above is equal to 23.240 trillion dinars."  
      
    He added, "The internal debt of Iraq is 68.214 trillion dinars, and the Ministry of Finance will pay at the current exchange rate 47.044 billion dollars to pay the value of the internal debt, while the Ministry of Finance will pay 61.014 billion dollars at the old exchange rate to pay the value of the internal debt, and the difference between the two prices is 13.970 billion dollars." .  
      
    And he stated, "The total financial losses for Iraq in 2022 as a result of returning to the old exchange rate will be about $34.757 billion, and this amount is equivalent to seven times Syria's budget and more than twice Jordan's budget in 2022."  
      
    He concluded, "This amount is sufficient to complete the port of Faw in its three phases and to complete most of the necessary infrastructure to connect with the Silk Road, which subsequently leads to an effective contribution to providing job opportunities and confronting and reducing poverty." 
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