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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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    "Moody's" reduces the assessment of the economic strength of Iraq by two points to "ba2".. What does

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    "Moody's" reduces the assessment of the economic strength of Iraq by two points to "ba2".. What does Empty "Moody's" reduces the assessment of the economic strength of Iraq by two points to "ba2".. What does

    Post by Rocky Fri 21 Jul 2023, 8:46 am

    [size=35][size=35]"Moody's" reduces the assessment of the economic strength of Iraq by two points to "ba2".. What does that mean?[/size]
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    Economy

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    2023-07-21 | 05:05
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    Alsumaria News - Economy

    Moody's announced the downgrade of the economic strength of Iraq to "ba2", and said that this assessment balances the size of the economy and the abundance of natural resources with the instability and turmoil of economic growth, weak infrastructure, and the economy's lack of diversification.


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    The Foundation said, in a research paper that provides an annual analysis of Iraq's credit worthiness, that the final assessment dropped the economic strength of Iraq by two points from the "baa3" level, which reflects the damage to the country's productive capacity and infrastructure through Several years of armed conflicts, which weakened competitiveness. And the flexibility of the economy, hindered its ability to grow at a faster rate, and hindered diversification outside the oil and gas sector.



    indicated "[You must be registered and logged in to see this link.]Also to adopt an economy[You must be registered and logged in to see this link.]Heavy on the oil sector, which accounted for 45% of the nominal GDP in 2021.

    I expected "[You must be registered and logged in to see this link.]Also, the country will not be able to return to the levels of economic output that prevailed before the pandemic[You must be registered and logged in to see this link.]Before 2024, despite the current recovery of the economy, and despite owning[You must be registered and logged in to see this link.]One of the largest economies in the Middle East and North region[You must be registered and logged in to see this link.]with a nominal GDP of $264 billion in 2022.

    She said that the growth of the economy is very sensitive to oil production and prices, expecting it to decline sharply in 2023.

    Heavy dependence on oil
    while estimating “[You must be registered and logged in to see this link.]The growth of the Iraqi economy in the past year by 8.1%, supported by an increase in crude oil production by 12.7% to about 4.5 million barrels per day. In the non-oil sector, it indicated that oil export revenues last year amounted to 115.6 billion dollars (representing 44% of the gross domestic product), an increase of 53% over the level of the previous

    year .[You must be registered and logged in to see this link.]to less than 2% this year, despite the possibility of a recovery in the non-oil sector supported by public spending until 2024

    .[You must be registered and logged in to see this link.]It will voluntarily reduce its oil production by 211 thousand barrels per day, starting from May until the end of 2024, in accordance with the agreements of the Organization of Petroleum Exporting Countries (OPEC) in April and May.

    The country's oil exports were also disrupted in the second quarter of this year due to the disruption of a pipeline between the ports of[You must be registered and logged in to see this link.]and Ceyhan, which transported oil field exports from northern Iraq to[You must be registered and logged in to see this link.].
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