Established in 2006 as a Community of Reality

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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


    Basra’s Mighty Petro-Dollar

    chouchou
    chouchou
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    Basra’s Mighty Petro-Dollar Empty Basra’s Mighty Petro-Dollar

    Post by chouchou Fri 21 Mar 2014, 4:27 am

    Basra is one of the country’s wealthiest provinces in terms of oil it produces; its budget for 2014 is bigger than some small countries’. Yet somehow the money doesn’t seem to be improving locals’ lives. Provincial authorities hope this year will be different – only the central government in Baghdad seems to be standing in their way.

    Authorities in the province of Basra have many plans to improve the lot of their people – the province is one of Iraq’s biggest oil producers yet somehow the revenue from oil sales never seems to return in sufficient amounts to alleviate poverty and to allow completion of projects such as roading and housing in the area.

    Still maybe this year will be different. Local politicians have high hopes, saying there is more money than ever and that various deals have been done with international firms to try and circumvent local corruption and inefficiency and to improve the region’s services.

    Indeed the province’s income for 2014 will be as much as US$15 billion. This includes amounts still owed from 2013 and the amount agreed upon last year when Law 21, which governs the powers that Iraq’s provinces can have, was amended. The amendments to Article 44 of the law firmed up how much an oil producing province should get per barrel of oil: five petrodollars per barrel of oil or 150 cubic meters of natural gas.

    “Basra’s budget is higher than Jordan’s,” local economist Adnan Farhan, said. “This puts the province ahead of other Iraqi cities in terms of growth and construction – if the budget is properly spent,” he cautions.

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