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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’s revenues are less by 20%, and the financial surplus is less than 60%.. Is the “era of surplus

    Rocky
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    Iraq’s revenues are less by 20%, and the financial surplus is less than 60%.. Is the “era of surplus Empty Iraq’s revenues are less by 20%, and the financial surplus is less than 60%.. Is the “era of surplus

    Post by Rocky Fri 28 Oct 2022, 9:56 am


    [size=30]Iraq’s revenues are less by 20%, and the financial surplus is less than 60%.. Is the “era of surpluses” approaching the end?


    2022-10-28
    [/size]
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    Yes Iraq: Baghdad

    Iraq is approaching the end of the “financial surplus” era, as it recorded last September a drop in oil revenues of 20% compared to the previous month.
     
    Iraq recorded revenue in September of more than 8 billion dollars, down from 10 billion dollars in August, and down from 11 billion dollars in July and June.
    This decline came with the start of the decline in oil prices to below 90 dollars per barrel.
     
    Looking at the accounts of the Iraqi state, Iraq's expenditures during the 8 months of this year amounted to 69.5 trillion dinars, which is equivalent to approximately 8.6 trillion dinars per month, which means about 6 billion dollars per month.
    While the revenues during September amounted to 8 billion dollars, this means that the financial surplus will amount to only two billion dollars, compared to 5 billion dollars per month when oil prices were at the barrier of 100 dollars per barrel, which means a decrease in the financial surplus by 60 percent.
     
    Iraq was left with only two billion dollars, or the equivalent of the drop in oil prices, an additional 20 dollars per barrel, so that the monthly oil revenues would reach exactly what Iraq’s expenses would be, without a financial surplus.
    Economists expect the world to witness a possible recession with the continuation of inflation, the collapse of the economies of some countries, and European and American banks raising interest rates.
    On the other hand, economic study centers do not expect oil to fall below $90 a barrel during the next year.
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