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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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    An economist agrees with the "pessimism" of international criticism about Iraq: the deficit and spen

    Rocky
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    An economist agrees with the "pessimism" of international criticism about Iraq: the deficit and spen Empty An economist agrees with the "pessimism" of international criticism about Iraq: the deficit and spen

    Post by Rocky Thu Jun 01, 2023 6:03 am

    An economist agrees with the "pessimism" of international criticism about Iraq: the deficit and spending are worrisome




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    2023-06-01 03:18
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    Shafaq News/ The economist, Dergham Muhammad Ali, agreed with the International Monetary Fund's report regarding the latter's pessimistic view of the Iraqi economy, indicating that the deficit is worrisome and the spending is large.



    Ali said in an interview with Shafaq News agency; "The percentage and size of the deficit in the general budget for the year 2023 is worrisome, and the volume of operating spending is very high, which would have required the House of Representatives to reconsider the items of operational spending."
    He added, "The House of Representatives should also reconsider estimates of oil resources by reducing expectations of the barrel price and expectations of the export ceiling, especially with the pessimistic expectations of global growth and the increasing competition in global markets in light of the cheap Russian supply of oil."
    He stressed that "the price of oil, which was estimated in the budget, is considered high, in addition to stopping Kurdistan's exports from exporting, which constitutes a loss for the public budget."
    The budget for 2023 talks about the existence of 63 trillion dinars as a deficit, in light of the price of $ 70 per barrel of oil.
    And the International Monetary Fund had indicated a pessimistic view of the Iraqi economy, as it indicated that the percentage and size of the budget deficit in the short term, the implementation of the authorities’ financial plans could lead to re-igniting inflation and fluctuations in the foreign exchange market, and in the medium term, the continuation of current policies in light of the presence of some Significant uncertainty about the future path of oil prices Critical risks to macroeconomic stability If there is no significant increase in oil prices, the current fiscal situation may lead to an increase in deficits and intensification of financing pressures in the coming years.
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