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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

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    After raising its non-oil revenues by 27%.. How will Iraq reduce oil’s “dominance” of the budget to

    Rocky
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    BUDGET - After raising its non-oil revenues by 27%.. How will Iraq reduce oil’s “dominance” of the budget to Empty After raising its non-oil revenues by 27%.. How will Iraq reduce oil’s “dominance” of the budget to

    Post by Rocky Fri 01 Mar 2024, 4:30 am

    After raising its non-oil revenues by 27%.. How will Iraq reduce oil’s “dominance” of the budget to 80%?
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    Baghdad Today - Baghdad
    Today, Friday (March 1, 2024), Representative Baqir Al-Saadi revealed a three-dimensional strategy to raise non-oil revenues in Iraq to 20% within a year, a huge number that requires raising non-oil revenues by 150% in order for this mentioned percentage to be achieved according to a numerical analysis conducted by him. "Baghdad today."
    Al-Saadi said in an interview with “Baghdad Today” that “the oil market is fluctuating and has been facing for years a state of instability that has prompted most oil-producing countries to diversify their economies according to several programs in order to confront the price fluctuations that plague annual budgets, especially for countries that are classified as rentier, that is, dependent on Oil revenues are almost entirely the same as Iraq's."
    He added, "Iraq has realized the danger of relying almost completely on the export of oil as a primary resource for the treasury and seeking to develop non-oil revenues, which are many and many, but some of them face the challenges of corruption in different ways, which necessitated the development of a government strategy of 3 dimensions, the most prominent of which is combating corruption and adopting a road map to activate and raise revenues." In addition to solving all obstacles facing the growth of these revenues.”
    He pointed out that "raising non-oil revenues in the Iraqi budget to 20% is a government decision that can be achieved within 12 months if the government strategy is implemented and the optimal exploitation of oil revenues is sought to push the wheel of investment and construction forward because it will generate more money and revive the markets."
    In 2023, non-oil revenues amounted to 9.7 trillion dinars, representing 7% of total revenues, and oil represented 93% of total revenues.
    Comparing these numbers with the year 2022, non-oil revenues amounted to 7.6 trillion, representing 5% of total revenues, and oil revenues constituted 95% of total revenues.
    This means that Iraq was able to raise the percentage of dependence on non-oil revenues from 5 to 7%, and raising this percentage to 20%, as the representative says. This means achieving non-oil revenues amounting to at least 25 trillion dinars, which means raising the percentage of revenues by 150%, at the same time. Which Iraq was able to raise by 27% within a year.
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