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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


    A “worrying” economic vision about the relationship of oil prices to the budget deficit

    Rocky
    Rocky
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    • Post n°1

    A “worrying” economic vision about the relationship of oil prices to the budget deficit Empty A “worrying” economic vision about the relationship of oil prices to the budget deficit

    Post by Rocky Fri 08 Sep 2023, 4:25 am

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    [size=52]A “worrying” economic vision about the relationship of oil prices to the budget deficit[/size]
    • Today 12:20




    Information / Baghdad..
    Economist Nabil Al-Marsoumi confirmed today, Friday (September 8, 2023), that the oil revenues achieved until August 2023 amounted to 61.513 billion dollars, equivalent to 80 trillion dinars, while he indicated that the oil revenues estimated in the 2023 budget = 90 billion dollars, equivalent to 117 trillion dinars.
    Al-Marsoumi said in a blog post followed by “Al-Ma’louma” that “the oil revenues achieved until August 2023 = 61.513 billion dollars, which is equivalent to 80 trillion dinars,” noting that “the oil revenues estimated in the 2023 budget = 90 billion dollars, which is equivalent to 117 trillion dinars.”
    He continued, "If high oil prices continue and Iraq sells its oil at a price of 85 per barrel, it is possible for Iraq to achieve oil revenues of $8.7 billion per month during the remaining third of this year."
    He pointed out, “Oil revenues may reach 34.8 billion dollars from September to December 2023, and thus the oil revenues actually achieved in 2023 will amount to about 96.213 billion dollars, or 125 trillion dinars, and then the actual oil revenues in 2023 will achieve a surplus of 6.213 billion dollars, meaning 8 trillion dinars, which will reduce the deficit in the 2023 budget by the amount of the surplus in oil revenues, provided that all non-oil revenues are achieved, which are estimated in the 2023 budget at about 17 trillion dinars, which may be unlikely.”
    The economist stated, “The net non-oil revenues achieved during the first half of 2023 did not exceed 421 billion dinars, and therefore the high price of oil, if it continues, will not greatly reduce the budget deficit for the year 2023.”
    The deficit percentage in the current draft budget reached 63.275 trillion dinars, with the adoption of a price of $70 per barrel of oil, according to what was sent by the Council of Ministers, given that more than 95 percent of the budget revenues depend on oil sales. Ended 25/R
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