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


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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


    Iraq's budget is facing "a severe impasse and a hot plate"

    Rocky
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    • Post n°1

    Iraq's budget is facing "a severe impasse and a hot plate" Empty Iraq's budget is facing "a severe impasse and a hot plate"

    Post by Rocky Thu 04 May 2023, 4:26 am

    Iraq's budget is facing "a severe impasse and a hot plate"

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    Baghdad today - Baghdad 
    The economist, Nabil Al-Marsoumi, warned of the repercussions of the drop in global oil prices on the Iraqi financial budget for the year 2023.
    Al-Marsoumi told (Baghdad Today): "The drop in the price of Brent crude to $72 confuses the financial accounts in Iraq because the selling price of Iraqi oil has become slightly more than the estimated price in the budget set at $70."
    He pointed out, "The cessation of oil exports from the Kurdistan region and Kirkuk puts the budget in a severe dilemma because it throws half a million barrels out of the budget."
    And Al-Marsoumi added, "Iraq's commitment to OPEC Plus cuts, which amount to 431,000 barrels per day, makes public finances under a hot plate," as he put it.
    And the economist asked: "Should we say goodbye to the rising oil price wave and the financial surpluses that we did not deal with well? Will we soon enter the austerity season as we enter the summer season?"
    It is noteworthy that the two global reference indices for crude (Brent and West Texas) lost their gains related to the voluntary production cuts of some members of the Organization of Petroleum Exporting Countries and its partners (OPEC + alliance).
    Today, Brent reached $72 and Texas at less than $70 a barrel, for the first time since the “OPEC +” alliance cut production a month ago in an attempt to support prices.
    Analysts interpreted these reductions, which were announced in early April, and which will come into effect from May until the end of 2023, as a desire by the alliance to keep the price of a barrel of Brent oil above $80.
    It is noteworthy that the House of Representatives committees are approaching the end of discussing the draft financial budget law, amid efforts to reduce the financial deficit in which 18 trillion dinars, to be about 59 trillion instead of the current 64 trillion.
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