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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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    Al-Kazemi’s financial advisor identifies two ways to confront the fluctuations in the global oil mar

    rocky
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    Al-Kazemi’s financial advisor identifies two ways to confront the fluctuations in the global oil mar Empty Al-Kazemi’s financial advisor identifies two ways to confront the fluctuations in the global oil mar

    Post by rocky Thu 12 Aug 2021 - 9:43

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    Al-Kazemi’s financial advisor identifies two ways to confront the fluctuations in the global oil markets
    August 11, 2021



    To face the risks of the volatility of the oil market (Facebook)
    Ultra Iraq - Editorial Team
    The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq is able to bypass the step of borrowing from the global capital markets.  
    Saleh said in [You must be registered and logged in to see this link.] to the official agency and followed by "Ultra Iraq", that "Iraq has no opportunity to avoid direct borrowing from global capital markets or international financial organizations to face the risks of fluctuation in oil markets and a decline in oil rents, except by taking two ways: the first is to find independent internal financial levers that maximize revenues. The non-oil are represented by taxes and fees in the main, by expanding the tax base, which is at the narrowest point in Iraq's financial history due to the large number of evaders.  
    He added, "Such developments in financial sustainability outside the oil rent and its external risks require to help raise per capita income; firstly, a broader growth in non-oil GDP, and secondly, a rise in employment rates, which helps to raise income continuously, and this is one of the financial sources which increases the opportunities for internal financing in the general budget.  
    He stressed that "the second way to avoid borrowing is not to neglect the need to move towards benefiting from the economic surplus in the private sector (savings), which requires, and through joint financing between the state and the private sector, the activation of the principles of partnership as an important means in achieving the policy of self-reliance, especially in the field of investment spending. The participant in financing projects and maximizing the production function.  
    He pointed out that "direct borrowing, and with attractive financial tools to attract the public's financial surpluses directly towards the general budget, requires the issuance of attractive financial instruments in which the public invests its money with appropriate interest and returns, such as national bonds, for example, and consider it an important alternative to external borrowing if the sincere intention is held and available. The correct institutional mechanisms for such developments in the national financial market, which will become a supportive force for fiscal policy,” explaining that “for example, the public retains a cash mass of more than 70 trillion dinars of cash issued from it as monetary wealth outside the banking system at a rate that is still no less than 88 percent. % in the form of liquid cash balances hoarded outside the banking system.  
    He pointed out that "at the same time, this matter is a huge leakage that hinders the role of the cash surplus in completing the income cycle by converting savings into productive investments that serve growth in the national economy." its tools, including the right to liquidate it and transfer it into cash when needed, and consider it a means of payment and a guarantee of the highest class.  
    Saleh concluded by saying that, "in this way, the financial market will become one of the internal tributaries of public finances that enhance financial sustainability and gradually develop it within the sustainable development of the country."  
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