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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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Iraq achieves within 9 months only 63% of the funds required for the expenditures of 2021.. Changing

rocky
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Iraq achieves within 9 months only 63% of the funds required for the expenditures of 2021.. Changing Empty Iraq achieves within 9 months only 63% of the funds required for the expenditures of 2021.. Changing

Post by rocky Mon 06 Dec 2021, 6:53 am


[size=30]Iraq achieves within 9 months only 63% of the funds required for the expenditures of 2021.. Changing the price of the dollar contributed 13% of it


2021-12-06
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Yes Iraq: Baghdad

Iraq’s revenues from the beginning of this year until last October amounted to 81 trillion dinars out of 101 trillion “expected in the budget”, which means that Iraq needs 20 trillion for the last three months to achieve the expected revenues, and 48 trillion to achieve the due expenses amounting to 129 trillion, which means that Iraq has achieved even October is only about 63% of the money that should be spent in 2021.
During the last three months, Iraq is supposed to achieve more than 20 trillion in revenues, exceeding the 7 trillion monthly from oil sales, as well as nearly 3 trillion non-oil revenues, so that the total that Iraq will achieve until the end of the year is 23 trillion, and the deficit remains about 25 trillion.
And the Ministry of Finance received during the year 2021 a revenue of 81.659 trillion dinars until October, an increase of 47% compared to the same month of the previous year.
On the other hand, the expenditures in the budget amount to 129 trillion, which means that Iraq needs about 48 trillion to pay the full expenses, and while it is hoped that Iraq will achieve about 21 trillion of oil revenues in the last three months, as well as about 3 trillion non-oil revenues, the deficit will then be 25 trillion Dinars, meaning that the rise in oil prices did not cover the deficit due to non-oil revenues not coming as planned.
Where it is expected that about 8 trillion of non-oil revenues will be collected only at a time when it was planned to reach 20 trillion in the budget.
According to economic data analyst Rami Jawad, the rise in these revenues comes as a result of the rise in exported oil prices, which constitute 90% of the total revenues, supported by the rise in the exchange rate of the dollar against the dinar, as the exchange rate difference from the previous rate added 10.5 trillion dinars as additional revenue to the public treasury.
On this basis, this means that the revenues generated from raising the price of the dollar amounted to 13% of the total revenues achieved.
Thus, had it not been for the step of raising the dollar, the revenues would almost be 71 trillion dinars only, which means that the deficit would then be 39 trillion, in addition to a hidden deficit in non-oil revenues of about 12 trillion, so that the total deficit would be 51 trillion.
Non-oil revenues increased by 49% compared to the same month of the year 2020 to record (8.453) trillion dinars, and despite the increase in non-oil revenues, they still constitute a deficit of 50% of the planned revenues within the 2021 budget.
As for expenses, they increased by 32% compared to the same month of the previous year as a result of the increase in investment expenses and the increase in operating expenses in general, according to Jawad.
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