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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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    What if the oil disappeared in Iraq?.. An expert expects a devastating scenario for the Iraqi econom

    Rocky
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    What if the oil disappeared in Iraq?.. An expert expects a devastating scenario for the Iraqi econom Empty What if the oil disappeared in Iraq?.. An expert expects a devastating scenario for the Iraqi econom

    Post by Rocky Wed 23 Nov 2022, 6:02 am

    What if the oil disappeared in Iraq?.. An expert expects a devastating scenario for the Iraqi economy

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    Economy News / Baghdad
    On Tuesday, the economist Nabil Al-Marsoumi presented hypotheses about the end of the oil era in Iraq, and what the Iraqi economy would become after that.
    Al-Marsoumi said in a Facebook post that the end of the oil era will lead to "a decrease in the gross domestic product by two-thirds and the complete disappearance of Iraqi exports."
    He added, "The Iraqi budget does not exceed 10 trillion dinars in size and a complete cessation of government investment," pointing to "the floating of the dinar and the collapse of its exchange rate to catastrophic levels due to the depletion of foreign reserves in the Central Bank of Iraq."
    Among the effects of the disappearance of oil, according to the decree, is "the disappearance of the ration card, the suspension of salaries of the social protection network, a huge rise in inflation levels, and a significant rise in electricity and fuel prices after the cancellation of government subsidies."
    It will also lead to "a significant deterioration in the purchasing power of those with fixed incomes and an unprecedented rise in poverty and unemployment levels."
    He concluded by saying, "Oil covers all Iraqis, not just employees and retirees, and it is a blessing from the Lord of the Worlds, but the defect and imbalance is in not employing part of the oil revenues in diversifying and developing the economy to prepare for the post-oil era." 

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    Added 11/22/2022 - 3:03 PM
    Updated 11/23/2022 - 1:48 PM
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