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IS IRAQ FALLING INTO THE ABYSS OF BANKRUPTCY?
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IS IRAQ FALLING INTO THE ABYSS OF BANKRUPTCY?
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[You must be registered and logged in to see this link.]19 hours ago71Today, Tuesday, the economic expert, Nabil Jabbar Al-Ali, revealed the reason why Iraq did not reach the stage of bankruptcy that many countries have reached, including Lebanon.
Al-Ali said in a press interview, which was followed by the news agency Al-Nabaa, that "if Iraq did not have oil resources like Lebanon, it would have been very easy and many years ago to declare its bankruptcy," stressing that "oil is the one who protects the Iraqi economy."
He added, "There is no comparison between what happened in Lebanon and Iraq, given that Lebanon is a country that does not possess multiple oil resources," noting that "the modern world, despite alternative energy solutions, still depends mainly on oil and its derivatives, which has become the cornerstone of all budgets." finance in most countries of the world.
He explained that "oil revenues in previous years, especially in 2020, were highly volatile, but despite that it was the one who maintained the economic situation, even if it reached its lowest level."
And he added, "The Iraqi economy relies on the revenues of oil resources as the main engine to cover the state's expenses."
Source: agencies
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Al-Ali said in a press interview, which was followed by the news agency Al-Nabaa, that "if Iraq did not have oil resources like Lebanon, it would have been very easy and many years ago to declare its bankruptcy," stressing that "oil is the one who protects the Iraqi economy."
He added, "There is no comparison between what happened in Lebanon and Iraq, given that Lebanon is a country that does not possess multiple oil resources," noting that "the modern world, despite alternative energy solutions, still depends mainly on oil and its derivatives, which has become the cornerstone of all budgets." finance in most countries of the world.
He explained that "oil revenues in previous years, especially in 2020, were highly volatile, but despite that it was the one who maintained the economic situation, even if it reached its lowest level."
And he added, "The Iraqi economy relies on the revenues of oil resources as the main engine to cover the state's expenses."
Source: agencies
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