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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

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


Oil revenues jump Iraq's foreign exchange reserves by 80 billion dollars

rocky
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Oil revenues jump Iraq's foreign exchange reserves by 80 billion dollars Empty Oil revenues jump Iraq's foreign exchange reserves by 80 billion dollars

Post by rocky Sun 21 Aug 2022, 9:47 am

[size=47]Oil revenues jump Iraq's foreign exchange reserves by 80 billion dollars[/size]


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August 21, 2022
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Iraq expects reserves to rise to $90 billion by the end of 2022 (Getty)
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The Deputy Governor [You must be registered and logged in to see this link.] Ammar Khalaf, said today, Sunday, that the country's [You must be registered and logged in to see this link.] exceeded 80 billion dollars, and expected to reach 90 billion by the end of the year.
Khalaf added, to the official Iraqi News Agency, that the bank's gold reserves increased by 30 tons to record more than 131 tons in total.

And the Iraqi Prime Minister, Mustafa Al-Kazemi, revealed at the end of last July, that during the two years of the government’s life, the Central Bank’s reserves were less than 50 billion dollars, and at the end of July it reached 76 billion dollars, and it will reach 90 billion dollars at the end of this year.
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[size=12]Arab economy

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Al-Kazemi explained in a press conference, that the Iraqi government has no intention of moving towards changing the dinar exchange rate.
Member of the Iraqi Parliament’s Finance Committee, Jamal Cougar, said in previous statements to Al-Araby Al-Jadeed that the oil price jumps saved the Iraqi economy from collapse, and when oil prices fell and the price of a barrel reached about $20, the government turned to taking large amounts of cash reserves, It relied on internal and external borrowing, as well as changing the exchange rate and providing an austerity budget.
He added that the rise taking place today enabled the Iraqi economy to restore its monetary activity, raise reserve rates, and pay large sums of debts owed internally and externally.
He pointed out that the government should benefit from the rise in oil prices, and allocate the surplus to support the investment side, because the state is still spending 75 percent of its budget for the operational side, expenses and salaries, and all these expenses have no financial return.
(Reuters, The New Arab)
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