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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


    An Economist Takes 8 Preliminary Notes On The 2023 Triennial Budget

    Rocky
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    An Economist Takes 8 Preliminary Notes On The 2023 Triennial Budget Empty An Economist Takes 8 Preliminary Notes On The 2023 Triennial Budget

    Post by Rocky Sun 19 Mar 2023, 6:43 am

    An Economist Takes 8 Preliminary Notes On The 2023 Triennial Budget
    03/19/2023
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    Earth News / without the economist Nabil Al-Marsoumi, today, Sunday, 8 preliminary observations on the tripartite budget 2023. Al-
    Marsoumi said in a statement received by Earth News Agency, that “the first observation, this budget is the largest budget in the history of Iraq with more than 197 trillion dinars, i.e. more than $151 billion. It is greater than the 2021 budget by 53% and by 68 trillion dinars, and it is greater than the actual expenditures for the year 2022 by about 81 trillion dinars.
    He added, "The second note: The volume of operating expenses has increased, which amounted to 150 trillion dinars, an increase of 50 trillion dinars over the 2021 budget, and it exceeds the actual operating expenses for the year 2022 by about 46 trillion dinars."
    And that “the third note: the deficit in the 2023 budget, which exceeds 63 trillion dinars, which is the largest in the history of Iraq, and in addition to the risks of a large deficit in the budget, the sources of financing two-thirds of the deficit are through internal and external borrowing, and the last third of the surplus is rounded up from the account of the Ministry of Finance.”
    And he pointed out, “The fourth note: the dominance of the salaries and social welfare paragraphs, which alone amount to 87 trillion dinars, i.e. 58% of total operating expenses and 74% of oil revenues.”
    And he continued, “The fifth note: adopting a planning oil price that is not hedged in the budget, which is 70 dollars per barrel, which is the highest among the budgets of all oil countries, and any decrease in the selling price of Iraqi oil by one dollar from the price estimated in the budget would reduce oil revenues by about 1.660 trillion dinars annually, which is What will exacerbate the budget deficit and increase internal and external debts, especially since Iraq, without all the oil countries, lacks a sovereign fund that can be a buffer in cases of low oil prices below their normal levels.”
    And he pointed out that “the sixth note: excessive optimism in non-oil revenues in the budget, which amount to 17 trillion, while it did not exceed 7 trillion dinars in 2022, and these revenues will decrease a lot if Parliament does not approve a set of taxes imposed by the budget.”
    He explained, “The seventh note: It is good that the budget includes the Iraqi Development Fund with a financial allocation of a trillion dinars and another fund for the poorest regions with half a trillion dinars, although it was preferable to double the capital of these two funds by four or five times due to its importance in growth and development and improving the standard of living of the population.” ".
    And he concluded by saying, “The eighth note: The budget includes some quantitative goals, such as: increasing the growth rate of gross domestic product by 4.5%, increasing non-oil output by 3%, and not exceeding inflation to the level of 5% annually.”
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