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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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    With a financial surplus amounting to a "quarter"... 161 trillion dinars, the Iraqi state's revenues

    Rocky
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    With a financial surplus amounting to a "quarter"... 161 trillion dinars, the Iraqi state's revenues Empty With a financial surplus amounting to a "quarter"... 161 trillion dinars, the Iraqi state's revenues

    Post by Rocky Mon 06 Mar 2023, 4:53 am

    With a financial surplus amounting to a "quarter"... 161 trillion dinars, the Iraqi state's revenues in 2022



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    2023-03-06 03:34
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    Shafaq News / The Iraqi Ministry of Finance announced, on Monday, that the state's revenues during the year 2022 exceeded 161 trillion dinars, with a financial surplus of more than 40 trillion dinars.



    According to the accounts of the Iraqi state for the month of December for the fiscal year 2022, which was seen by Shafaq News Agency, the contribution of oil to the federal budget amounted to 95%, which indicates that the rentier economy is the basis of Iraq's general budget.
    And the financial accounts showed that the total revenues until last December amounted to 161 trillion and 697 billion and 436 million and 746 thousand and 338 dinars, indicating that the total expenditures with advances amounted to 119 trillion and 805 billion and 546 million dinars.
    According to the finance table, oil revenues amounted to 154 trillion and 38 billion and 649 million and 122 thousand dinars, which constitute 95% of the general budget, while non-oil revenues amounted to 7 trillion and 657 billion and 787 million and 624 thousand dinars, indicating that the budget surplus for the past year 2022 amounted to 41 One trillion and 891 billion and 890 million dinars, equivalent to 31.9 billion dollars.
    For his part, financial expert Muhammad al-Hassani stressed, in an interview with Shafaq News agency, the need for the government to accelerate a "comprehensive economic revolution by diversifying economic sectors to reduce imports and benefit from human capital and labor, in which young people constitute nearly 60% to eliminate unemployment and poverty." in Iraq".
    He added that "all the Gulf oil countries tended to diversify their economy, and therefore the impact of oil on their economy has become a small percentage of their budget," pointing out that "successive governments of the Iraqi state did not develop effective solutions for that and relied on the budget to bridge public expenditures without paying attention to investments and developing the sector." private".
    The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed in March 2021, in an interview with Shafaq News agency, that the reasons for the economy to remain rentier are due to wars and the imposition of siege during the past era, and what we are witnessing today of political conflicts, which led to the dispersal of economic resources.
    And the continuation of the Iraqi state relying on oil as the sole source of the general budget puts the country in danger from the global crises that occur from time to time and which are affected by oil prices, which makes Iraq tend every time to cover the deficit by borrowing from abroad or internally, and thus indicates the inability effective management of state funds, and the inability to find alternative financing solutions.
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