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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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    36 trillion dinars, the volume of financial revenues in Iraq in 4 months, and a warning of a similar

    Rocky
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    36 trillion dinars, the volume of financial revenues in Iraq in 4 months, and a warning of a similar Empty 36 trillion dinars, the volume of financial revenues in Iraq in 4 months, and a warning of a similar

    Post by Rocky Wed 21 Jun 2023, 4:41 am

    36 trillion dinars, the volume of financial revenues in Iraq in 4 months, and a warning of a similar fate to Venezuela




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    2023-06-21 03:54
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    Shafaq News/ The Ministry of Finance issued the Iraqi state’s accounts from January to last April for the fiscal year 2023, which indicated that the volume of financial revenues in Iraq’s budget amounted to more than 36 trillion dinars, while confirming that the contribution of oil to the federal budget is still 95.5%, in When an economist warned against slipping into the Venezuelan experience.
    Shafaq News Agency followed the data and tables issued by the Ministry of Finance this June for the accounts of the first four months of the year 2023, which showed that oil is still the main resource for Iraq's general budget, reaching 95.5%, which indicates that the rentier economy is the basis for Iraq's general budget. .



    And through the financial tables, it indicated that the total revenues until the month of April amounted to 36 trillion and 153 billion and 969 million and 806 thousand and 678 dinars, after excluding from them the transfer revenues amounting to two trillion and 34 billion and 83 million and 735 thousand dinars, explaining that the total expenditures with advances amounted to 28 trillion and 284 billion And 233 million and 222 thousand dinars.
    According to the finance table, oil revenues amounted to 36 trillion, 606 billion, 564 million, 127 thousand and 565 dinars, which constitute 95.63% of the general budget, while non-oil revenues amounted to 1 trillion, 581 billion, 489 million, 414 thousand, and 153 dinars.
    For his part, the economist, Muhammad al-Hassani, said in an interview with Shafaq News agency, "The Iraqi economy remaining rent-seeking without treatment would slip towards Venezuela's bad economic experience, which bet more on oil, at the expense of other economic sectors, and as a result, an economy that is not diversified, including Enough and a major economic collapse of the state.
    He added that the term "resource curse" was applied to countries that follow these incorrect methods in managing their economic resources, which tend to achieve less economic growth, less democracy, and worse development results than countries that have fewer natural resources, which is identical to the case of Iraq. ".
    He points out that "corruption and bureaucracy are still tyrannical in most of the joints of Iraqi government institutions and prevent any economic development that takes place in Iraq," warning of "not diversifying the Iraqi economy as soon as possible, which will make the Iraqi state unable to pay even the salaries of its employees on time." near".
    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 a rentier go back to wars and the imposition of siege during the past era, and what we are witnessing today of political conflicts, which led to the dispersion of economic resources.
    And the continuation of the Iraqi state relying on oil as the sole source of the general budget puts Iraq in danger from global crises that occur from time to time due to the impact of oil on them, which makes the country tend every time to cover the deficit through borrowing from abroad or from the inside, and thus indicates the inability to manage State funds effectively, and the inability to find alternative financing solutions.
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