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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 is falling apart economically ... oil revenues halved

    Rocky
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    • Post n°1

    Iraq is falling apart economically ... oil revenues halved Empty Iraq is falling apart economically ... oil revenues halved

    Post by Rocky Thu 02 Apr 2020, 7:18 am

    Iraq is falling apart economically ... oil revenues halved  
    [You must be registered and logged in to see this image.]Oilfields in Iraq - Internet






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    Certainly happened economically in [You must be registered and logged in to see this link.] . After all the data indicated in the previous days that the country is on the threshold of catastrophic crisis, with world oil prices tumbled, confirmed [You must be registered and logged in to see this link.] lower oil revenues.
     
    The ministry said, that Iraqi oil revenues fell to almost half in the month of March / last March, which threatens to deepen the crisis in the second largest producer in the [You must be registered and logged in to see this link.] oil exporters.
     
    The "Ministry of Oil" said in its statement that "the total quantities exported of crude oil for the month of March amounted to about 105 million barrels, with revenues of / 2.99 billion dollars."
     
    And Iraq had achieved last February, revenues of / 5.5 / billion dollars, instead of / 98 / million barrels only, at a time usually issued about / 3.5 / million barrels per day.
     
    The budget of Iraq, which amounted to $ 112 billion in 2019, depends on oil revenues of more than (90%), while this crisis comes with the collapse of oil prices to the lowest rate in 18 years.
     
    And between the drop in crude prices, political fluidity, the shrinking international intentions to save it, and the [You must be registered and logged in to see this link.] epidemic , Iraq stands on the brink of a financial catastrophe that could push it into austerity measures that are exhausting for its people, who are already suffering from subsistence.
     
    Fatih Birol, executive director of the [You must be registered and logged in to see this link.] based International Energy Agency  , has confirmed that the price drop “dealt a heavy blow to the oil-dependent economies, but the strongest blow will be to Iraq because of the crises that it suffers.”
     
    Birol continued, saying: "Iraq is the most affected country, because it does not have financial reserves, and because (90%) of its revenues come from oil, and all of these economic pressures come in a very tense political environment already."
     
    The Minister of Health,  [You must be registered and logged in to see this link.] , has said that he will need $ 150 million a month to purchase the equipment he needs to combat Corona, but he has collected only a small portion of this amount.


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