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Neno's Place Established in 2006 as a Community of Reality


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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


    Detailed numbers: What are the implications of increasing salaries for employees and retirees on the

    Rocky
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    Detailed numbers: What are the implications of increasing salaries for employees and retirees on the Empty Detailed numbers: What are the implications of increasing salaries for employees and retirees on the

    Post by Rocky Sun 29 Oct 2023, 4:18 am

    Detailed numbers: What are the implications of increasing salaries for employees and retirees on the budget deficit?
    [You must be registered and logged in to see this link.] |Today
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    Baghdad today - Baghdad 
    After the government approved an increase in the salaries of employees and retirees, and the National Retirement Authority began the procedures, in light of the presence of a deficit in the federal budget, what are the effects and repercussions of this increase? To what extent does it reflect on the citizen’s life and the expected percentage of disability? An economist explains. 
    On (October 25, 2023), the head of the Retirement Authority, Maher Hussein Rashid, announced that procedures for increasing the salaries of retirees by 100,000 dinars would be carried out, while indicating that any retiree who receives a salary of one million or less is included in this increase.
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    Five notes 
    In a blog post followed by “Baghdad Today,” economic expert Nabil Al-Marsawi made a number of observations regarding the effects of this increase, indicating that “this increase for the lower segments of employees and retirees came to protect them from inflation and to compensate them for losing part of their purchasing power resulting from the high level of inflation and Then it is a compensatory increase that is necessary to achieve some kind of living stability for them.” 
    He adds, "The second observation is that the economy should not be looked at from the standpoint of abstract numbers, but rather from the standpoint of its connection with humans and alleviating their suffering. Therefore, the decision is important from a social standpoint and achieving some kind of balance, even if it is small, between employees' salaries." 
    As for the third observation, which Al-Marsoumi diagnosed by saying: “The number of retirees included in the increase of 100 thousand dinars per month reached one million and 600 retirees, while the total increase for them amounted to 164 billion and 295 million dinars per month, that is, one trillion and 971 billion dinars annually.” 
    He continued, “The fourth note is that the number of employees in the eighth, ninth, and tenth grades who are covered by the lump sum allocations of 50% of their salaries amounts to one million and 821 thousand employees, which is approximately 45% of the total number of employees on the fixed staff.” 
    He concluded with a fifth note in which he stated that "these increases will not lead to aggravation of the budget deficit for the year 2023 due to the significant rise in oil prices compared to the price of a barrel planned in the budget, which is $70 per barrel."  [You must be registered and logged in to see this image.]
    One hundred thousand pieces
    On October 24, the government approved a lump sum increase of one hundred thousand Iraqi dinars to the salaries of retirees.
    The Prime Minister's Media Office stated in a statement received by "Baghdad Today", that "the Council of Ministers held its regular session headed by Prime Minister Muhammad Shiaa Al-Sudani, and approved a lump sum increase of one hundred thousand Iraqi dinars to the salaries of retirees, who receive salaries worth one million Iraqi dinars or less." .
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