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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 Gaza War” and the Iraqi market... An international economist points out 4 factors

    Rocky
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    “The Gaza War” and the Iraqi market... An international economist points out 4 factors Empty “The Gaza War” and the Iraqi market... An international economist points out 4 factors

    Post by Rocky Wed 01 Nov 2023, 2:56 pm

    [size=45][size=41]“The Gaza War” and the Iraqi market... An international economist points out 4 factors[/size]
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    Mahdi Saleh, professor of international economics at Diyala University, pointed out four factors affecting Iraqi markets due to the “Gaza War.”
    Saleh said in a press interview seen by “Taqaddam” that “the war on Gaza could affect the Iraqi markets directly if it spreads and turns into a regional or international war or strikes the production chains of Iraq’s neighboring countries” - referring to Turkey and Iran, which constitute the largest percentage of Market imports - or it caused the paralysis of the Suez Canal, which is the artery of global trade.”
    Impact of the Gaza War
    Saleh added, “But so far, the impact of the war in Gaza has not been reflected on the Iraqi markets, especially since it did not pose any threat to the production chains in the countries neighboring Palestine or the transport corridors, including the Suez Canal, in addition to the fact that it did not affect the economic situation in Iran and Turkey, which are the two most important partners.” “For Iraq.”
    He continued, “The impact of Tehran and Turkey on the war in Gaza will affect the average prices in Iraqi markets due to the high volume of imports,” noting that “there are fears of prolonging the duration of the war and perhaps turning it into a regional war, so the impact on Iraqi markets will be very natural.”
    High anxiety level
    The professor of international economics pointed out that “the current tensions, although complex, have not affected the compass of public opinion, pushing it to a high level of anxiety, which in turn pushes them to make high purchases in anticipation of any crisis,” noting that “any security event could constitute the starting point for a state of anxiety.” “It leads to a crisis, especially since America is involved in the Palestinian situation by supporting the Zionist entity.”
    For its part, the World Bank warned on Tuesday that the escalation of the war in Gaza may result in severe damage to the global economy, which is already suffering from a bad situation, and specifically pointed to direct effects on basic commodities, especially oil and food, drawing 3 expected scenarios according to the development of events.
    World Bank chief economist Indermeet Gill said in a report that the conflict between Israel and Hamas comes as the Russian-Ukrainian war puts pressure on the markets, which caused “the largest shock to commodity markets since the 1970s, and this had repercussions that caused turmoil for the global economy.” “It still exists today.”
    Gale noted, “Decision makers must be vigilant. If the conflict escalates, the global economy will face a double energy shock for the first time in decades,” from the war in Ukraine and the conflict in the Middle East.
    The World Bank stated that potential inflation will depend on what happens to global oil prices and exports, and under an optimistic scenario, oil could rise by between 3 and 13 percent, or between $93 and $102 per barrel. According to an average scenario, prices could rise to $121, while according to the worst scenario, oil will reach a peak between $140 and $157, exceeding prices unprecedented since 2008.
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