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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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    The Sudanese advisor explains to Al-Maalouma the fact that 30% of oil revenues were not recorded

    Rocky
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    • Post n°1

    The Sudanese advisor explains to Al-Maalouma the fact that 30% of oil revenues were not recorded Empty The Sudanese advisor explains to Al-Maalouma the fact that 30% of oil revenues were not recorded

    Post by Rocky Thu 05 Oct 2023, 9:31 am

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    [size=52]The Sudanese advisor explains to Al-Maalouma the fact that 30% of oil revenues were not recorded[/size]
    • Today 16:35




    Information/private..
    Today, Thursday, the Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, clarified the fate of the 30% of oil revenues that do not enter the accounts of the Central Bank of Iraq and the Ministry of Finance, while indicating the areas in which they are spent.
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    Saleh said, in an interview with the “Al-Ma’louma” Agency, that “the Governor of the Central Bank of Iraq, Ali Al-Alaq, when he talked about not receiving 30% of oil revenues, he meant that this money is not translated into expenditures in dinars within the flow of liquidity provided by the Central Bank, especially Oil revenues.
    He added, "What the Central Bank Governor means is that these funds are recorded in the accounts only, and are paid later within the budget allocations to pay the external obligations of the Iraqi government, such as paying the amounts of all government imports."
    The Sudanese financial advisor pointed to “debt services and various obligations with international institutions, all of which are paid directly in foreign currency, as well as the oil companies’ share of service contracts that are paid in barter.”
    Muhammad explained, “For these funds, an account balance is recorded in dinars for the purposes of settlements by recording expenses in the general budget without the need for liquidity in Iraqi dinars.”
    He continued his speech, saying: "These are merely adjustments made through the monthly government accounts and usually constitute approximately one-third of annual public expenditures."
    Earlier, the Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed that 30 percent of oil revenues do not enter the Central Bank, while he confirmed that there are high numbers for imports from the Emirates and Turkey. Ended / 25 R
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