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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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    Locally and globally... Alsumaria reviews the most prominent economic milestones during 2022

    Rocky
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    Locally and globally... Alsumaria reviews the most prominent economic milestones during 2022 Empty Locally and globally... Alsumaria reviews the most prominent economic milestones during 2022

    Post by Rocky Sat Dec 31, 2022 6:12 am

    [size=35][size=35]Locally and globally... Alsumaria reviews the most prominent economic milestones during 2022[/size]
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    2022-12-30 | 11:58
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    The global and local economic situation in 2022 witnessed large disparities that were not limited to one side or the other, as it included all economic sectors, which contributed to making it the weakest link in all countries.


    Alsumaria News Agency made an inventory of economic events during the year 2022, as the year began with new measures to limit the spread of the Corona virus after it returned with a new, more widespread and less dangerous variant (Omicron), to impose new restrictions on movement, and these restrictions prompted an increase in fuel prices and an increase in inflation. In many countries, including the[url=https://www.alsumaria.tv/Entity/45068/%D8%A7%D9%84%D9%88%D9%84%D8%A7%D9%8A%D8%A7%D8%AA %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9 %D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9/ar/]United States of America[/url]And the economies of developed and developing markets, it ended with a crisis from which the Iraqis suffered a lot, represented by the rise of the dollar against the Iraqi dinar.






    War repercussions[You must be registered and logged in to see this link.]-[You must be registered and logged in to see this link.]
    In February, the Russian-Ukrainian war disrupted the global economy for months due to the repercussions it left behind in the energy crisis and also the rise in food crop prices as a result of the sanctions imposed on[You must be registered and logged in to see this link.]And these repercussions led to a price jump in global oil prices, to exceed $100 per barrel, after its decline due to Corona.

    * Food prices are soaring
    As for the month of March, the breach of the agreement to allow the export of Russian grain through Ukraine led to an increase in food prices, which negatively affected the economies of Arab countries, including Iraq, where the local markets witnessed a remarkable rise in foodstuffs, especially in ( rice, flour, and oils used in cooking), which forced the Iraqi government to adopt Australian and German wheat as an alternative, not to mention the dollar prices, which began to rise at prices that are not similar to their predecessors, and these exacerbations contributed to undermining the poor, marginalized, and limited-income group.
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    Rice Crisis
    In April, India announced restrictions on rice exports after shipments jumped sharply amid concerns about the new season's crop due to below-average rainfall in four major rice-producing states.
    India represents the largest exporter of rice to the countries of the world, which posed a great threat to the supplies of importing countries.

    * Wheat is declining
    . The month of May witnessed a decline in the quantities of the 2022 wheat crop production to record levels as a result of the worsening water scarcity crisis in Iraq, which led to a significant decline in the country's strategic reserves, and the authorities' tendency to import from abroad to meet local needs, amid a global supply crisis. Because of the Russian war on[You must be registered and logged in to see this link.]Which resulted in the birth of fears of an economic crisis that might affect the food sector in the country, after official data indicated that the Iraqi stock of wheat was not sufficient for two months, which negatively affected the reality of imports and the rise in wheat prices in the provinces, especially the capital, Baghdad.

    * Emergency support
    in light of the political conditions that were ravaging the country and in light of the failure to approve the 2022 budget, passed[url=https://www.alsumaria.tv/Entity/1488748421/%D9%85%D8%AC%D9%84%D8%B3 %D8%A7%D9%84%D9%86%D9%88%D8%A7%D8%A8 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Iraqi Parliament[/url]In June, the "Emergency Support for Food Security and Development" law was passed in a session attended by 273 deputies, in a step that allows the government to spend on various priority projects with the aim of achieving food security and stability in the country. The expenditures of this law were set at 25 trillion Iraqi dinars (about 17 billion dollars). .

    * July, the gas crisis and America's inflation
    The Russian-Ukrainian crisis was enough to push the demand for natural gas around the world, with a sharp contraction in consumption[You must be registered and logged in to see this link.]China in particular, and the crisis made the year 2022 a turning point in the trends of natural gas consumption and production globally, after it decided[You must be registered and logged in to see this link.]strangling Europe; In response to the sanctions imposed against it, at a time when the old continent is working to distance itself from Russian supplies.

    That conflict caused a record jump in natural gas prices and a severe shortage of supplies, especially among[You must be registered and logged in to see this link.], which prompted global demand to decline again after recovering last year (2021) from deflation during the year of the epidemic (2020), in addition to the rise in gas prices and global demand was negatively affected by warmer temperatures in winter, slower economic growth and the shift to other sources, especially renewable energy. Which gained a significant competitive advantage in terms of cost, to decrease the demand for natural gas in[You must be registered and logged in to see this link.]And China at the lowest pace ever.
    On the other hand, America remained wrestling with inflation for many months, reaching its peak at 9.1% in June of this year, and the Federal Reserve raised interest rates throughout the year by 425 basis points in an attempt to curb inflation, and its rise caused[You must be registered and logged in to see this link.]By more than 8%, the euro fell to its lowest level in 20 years, to become equal with the dollar, due to the rise in energy and food prices, in addition to the European Central Bank's delay in raising interest rates.

    * Gold ban
    In August, the countries of the Group of Seven major industrial countries imposed a new package of sanctions on gold[You must be registered and logged in to see this link.], by banning imports of gold from[You must be registered and logged in to see this link.], in an attempt to clamp down on Moscow, in response to its war in[You must be registered and logged in to see this link.]And the British government announced its ban, along with the United States, Canada and Japan, on importing Russian gold.

    In this context, the US President announced[url=https://www.alsumaria.tv/Entity/693544025/%D8%AC%D9%88 %D8%A8%D8%A7%D9%8A%D8%AF%D9%86/ar/]Joe Biden[/url]That his country and the G7 countries will ban the import of Russian gold, which is the second largest Russian export after energy, via a tweet on Twitter, stating: “The United States imposed unprecedented costs on Putin to deprive him of the revenues he needs to finance his war against Russia.”[You must be registered and logged in to see this link.]Together, the G7 will announce that we will ban the import of Russian gold, a major export that generates tens of billions of dollars for gold[You must be registered and logged in to see this link.]The

    collapse of currencies and the fading of digital
    The month of September 2022 witnessed new economic problems, including the collapse of the currency of most countries, such as (Egypt, Lebanon, Syria, Iran and Turkey), where the dollar prices reached five times their currencies, which caused the decline of their international economies, in addition to the fading of digital currencies such as (Bitcoin and Ethereum) In light of the interest rate hike by the US Federal Reserve and the recording of a significant decline that led to the bankruptcy of most of the influential companies in selling these currencies.In
    general, the cryptocurrency market lost more than $ 2 trillion during the year 2022, and the performance of the famous digital currencies declined to what Below its highest levels in 2021, which made experts warn against trading and investing in it

    .
    The oil markets in 2022 witnessed severe uncertainty and conflicting signals that hindered the activities of traders in the oil futures markets, and Brent crude reached the eighty-dollar barrier at the beginning of the year, while the average price for the year at about $103 is the highest since 2013, and in March Brent rose to its peak at 128. Dollars, with fluctuations of up to $50, the highest since the financial crisis of 2008, and the “OPEC +” group decided in October to cut oil production by two million barrels per day, to be the largest cut since 2020, in a move aimed at supporting prices that witnessed the first loss in the third quarter. quarterly two years ago, and the decision came despite pressure from the United States and other consuming countries to pump more oil into a market that the West sees as already suffering from "scarce supplies."
    Doubts also dominated the short-term expectations and caused their separation from the markets and a decline in prices below the $100 barrier in the second half of the year, as a result of the huge state of uncertainty that was exacerbated, especially with the sanctions imposed on[You must be registered and logged in to see this link.]In addition to the astronomical rise in the prices of refined petroleum products, which greatly exceeded the prices of crude oil, and these events were reflected in the Iraqi economy with positive statistics, as it is completely dependent on oil exports, to achieve new records in the public budget that has not been approved so far.

    * Russian oil and the Qatari World Cup
    In November, the European Union set a price ceiling on Russian oil equal to or less than $60 per barrel, with the aim of reducing Russian revenues while ensuring that Moscow continues to supply the global market.[You must be registered and logged in to see this link.]Which is considered one of the largest oil exporters in the world, it will be easy for it to find other parties to buy its oil at the market price, while companies located in the European Union, the Group of Seven and Australia will be prohibited from providing services that allow maritime transport of trade, shipping, insurance and ships, in light of the countries of the Group of Seven It provides 90% of insurance services for global shipments, while the European Union is a major party in maritime transport, which gives it the ability to impose this ceiling on the majority of customers[You must be registered and logged in to see this link.]Across the world, in addition to Moscow's keenness to preserve its facilities, which will be damaged in the event of a halt in production, and the confidence of its customers, including China and India.

    On the other hand, the most prominent Arab and international event, the 2022 World Cup, was launched in Qatar at a cost of more than $220 billion and profits of $9 billion, most of which came from tourism spending. Seven new stadiums were also built in addition to the old stadium to host World Cup matches, at a cost of $6.5 billion. Billion dollar.

    * Iraq and the dollar crisis
    The economic climate in Iraq witnessed fluctuations in the exchange rates of the dollar after it reached about 1460 per dinar, which led to a significant increase in the reduction of job opportunities and the spread of unemployment.
    On December 4, the dollar exchange rates were recorded for the first time since the Central Bank's decision, about 160,000 Iraqi dinars against 100 US dollars, in the Iraqi markets.

    *Russian action
    On December 27, the Russian President issued,[url=https://www.alsumaria.tv/Entity/60567/%D9%81%D9%84%D8%A7%D8%AF%D9%8A%D9%85%D9%8A%D8%B1 %D8%A8%D9%88%D8%AA%D9%8A%D9%86/ar/]Vladimir Putin[/url]A decision to ban the export of his country's oil to countries that imposed a ceiling on the price of crude, starting next February.

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