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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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Economic treatment in light of political and oil fluctuations

rocky
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Join date : 2012-12-21

Economic treatment in light of political and oil fluctuations Empty Economic treatment in light of political and oil fluctuations

Post by rocky Sat 13 Aug 2022, 5:34 am

Economic treatment in light of political and oil fluctuations

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            Dr.. Haitham Hamid Mutlaq Al-Mansour
The economic climate in Iraq is witnessing dramatic changes, in addition to the rise in financial indicators caused by the rise in oil prices at a rate of nearly 40% compared to last year, and expectations that the country’s cash reserves will rise to more than 90 billion dollars by the end of this year, and an increase in the rate of growth in the gross domestic product to 9.5%, the fiscal policy is still restricted by the government spending ratio of 1/12, which indicates that the financial boom was not truly reflected on the reality of macroeconomic policy and the reality of citizens, as inflation is witnessing a significant rise in its annual rates in addition to the rise in unemployment rates, which amounted to In its last statistics in 2021, it reached an annual rate of 13.8%.
 The political developments in the country and their repercussions on the economy constitute a major obstacle to approving the budget for the year 2021-2022, including the organization and classification of oil revenues to be spent on its consumption and investment resources, which is an important source of demand, revitalizing the economy, the income and spending cycle, and creating job opportunities in a way that reduces unemployment rates and keeps the economy away. Iraqi about the specter of the phenomenon of stagflation, which it is suffering from recently, and for many reasons, some of them external and internal, the first is related to the Ukrainian war and the economic reaction policies that reinforced stagflation in the United States and the European Union, and since Iraq constitutes in its total foreign expenditures a net importer of goods and services It is natural for inflation to move to it with the lists of imports. As for the second, besides the lack of approval of the budget and the repercussions of the restricted spending at a rate of 1/12, the internal debt management policies, despite their purely economic objectives, the devaluation of the currencyNationalism and the accompanying reluctance in many compensatory measures for the groups affected by it, took its take from the reality of the general level of prices and the real drop in the value of individuals' incomes, which were not clearly targeted.
Therefore, the two important variables in terms of dealing with the economy are receding in the formation of the government first, the approval of the budget and the initiation of organizing the financial returns according to the budget items and its allocations. Secondly, the management of financial returns in an efficient economic manner through the creation of a sovereign fund to invest and develop oil surpluses for the future may constitute a strategic variable In terms of economic treatment.


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Added 08/13/2022 - 9:57 AM
Update 08/13/2022 - 1:28 PM


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