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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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Finance: Companies outside the oil sector cost the state billions of dollars

rocky
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Finance - Finance: Companies outside the oil sector cost the state billions of dollars Empty Finance: Companies outside the oil sector cost the state billions of dollars

Post by rocky Sat 02 Jul 2022, 7:16 am

[size=38]Finance: Companies outside the oil sector cost the state billions of dollars[/size]


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Baghdad / Obelisk: Minister of Finance Ali Allawi announced, on Saturday, July 2, 2022, the submission of a study to reform government banks.
Allawi said in a speech during the Fifth Finance and Banking Exhibition Conference in Iraq, "The banks went through difficult circumstances from the beginning of 2020 after the drop in oil prices to unprecedented levels and the impact on the economy," noting that "the banking and financial sector is the most important pillar in the economy, not just state resources. Diversifying the economy is an urgent necessity.”
He added that there are 3 basic elements for the stability of the economy, the supreme policies of the state and the central bank, and secondly, the international situation and direct and indirect external influences on the Iraqi economy, and the third is the institutional element.
He added that "the banking sector has grown in terms of deposits and loans, and the ratios between the public and private banking sectors are still the same, 75% of deposits are in government banks."
He stressed that "the reform of government banks is a vital issue and an essential part of transforming the economy from rentier to diversified."
He concluded that "companies outside the oil sector cost the state billions of dollars."
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