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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Allawi warned: Iraq's economy is in danger, and alternative sources of oil must be found

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 281327
    Join date : 2012-12-21
    • Post n°1

    Allawi warned: Iraq's economy is in danger, and alternative sources of oil must be found Empty Allawi warned: Iraq's economy is in danger, and alternative sources of oil must be found

    Post by Rocky Sun 12 Dec 2021, 7:09 am

    [size=30]Allawi warned: Iraq's economy is in danger, and alternative sources of oil must be found[/size]


    [You must be registered and logged in to see this image.]

    Erbil (Kurdistan 24) - Iraqi Finance Minister Ali Allawi said that Iraq needs a radical reform of the economy's management system to face challenges, including the decline in oil prices, warning that many industrialized countries have begun planning to use alternative energy instead of oil.
    Allawi said, "There was financial abundance between the years 2009-2013, but on the other hand, there were no clear economic policies, as financial resources were transferred from oil sales to government appointments."
    He continued, "The increase in employee salary benefits and contracting due to the financial abundance, put pressure on the state's finances due to the decline in oil prices," noting that "investment spending in Iraq is large after 2003, but it was not in accordance with the controls and most projects were motivated by personal or sectoral motives, not projects." economical."
    Allawi stressed that "there is a great waste and misuse of resources more than it is theft or corruption, and incompetent people presented projects and managed by unqualified people, and there are huge resources spent on projects, but their economic impact is small."
    He pointed out that "there are hospital projects that were approved after the year 2011, but were not completed, and some of them did not have allocations, and the specialists withdrew and some benefited, and structures remained," noting as well that "small projects in most cases are more beneficial to the economy than major projects."
    And he warned that "the Iraqi economy is based entirely on oil revenues at a rate of 95 percent, and in the last two years the economies of the major and industrialized countries began looking for an alternative to oil, and this is a danger to us, and alternative sources of oil must be found to counter this decline. The Gulf countries have financial investments worth two trillion dollars to face the risk of decline." Oil prices.
    He pointed out that "the state's spending is large, but in return it needs additional resources, for example, not paying electricity bills by citizens costs the state 15 trillion dinars annually," noting that "Iraq has human economic energies and a vision that diagnoses challenges and lays down means for economic stability."
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Tue 26 Nov 2024, 8:14 am