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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


    Warning and warning... Expectations of the budget falling to less than $10 billion and the Iraqi din

    Rocky
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    • Post n°1

    Warning and warning... Expectations of the budget falling to less than $10 billion and the Iraqi din Empty Warning and warning... Expectations of the budget falling to less than $10 billion and the Iraqi din

    Post by Rocky Wed 13 Dec 2023, 4:20 am

    Warning and warning... Expectations of the budget falling to less than $10 billion and the Iraqi dinar collapsing
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    Baghdad today - Baghdad 
    Today, Wednesday (December 13, 2023), economic expert Nabil Al-Marsoumi commented on the COP28 call to reduce the use and production of fossil fuels, while noting that it is an “early warning” to rentier countries, most notably Iraq. 
    Al-Marsoumi said in a blog post followed by “Baghdad Today” that, “Regardless of how realistic the call made by the COP28 climate change negotiations aimed at reducing fossil fuel consumption and production, in a fair, orderly and equitable manner, in order to achieve carbon neutrality by 2050, This constitutes an early and severe warning to rentier states.”
    He added: "Especially for countries that depend entirely on oil, led by Iraq, where oil dominates more than half of the gross domestic product, 99% of total exports, and 95% of public revenues, which is the main source of income, financing and driving economic activities in Iraq."
    He pointed out that "in light of the almost complete absence of commodity activities such as agriculture and industry, and the horrific backwardness in the service and distribution sectors, if one day the world leaves oil or if oil, which is a non-renewable resource, runs out, then the results will be disastrous."
    Al-Marsoumi pointed out that “oil exports will disappear, oil revenues will decrease accordingly, the size of the annual general budget will decrease to less than $10 billion, the Iraqi dinar will collapse, the real incomes of employees and fixed-income earners will decrease, unemployment and poverty will worsen, the Iraqi economy will be completely paralyzed, and the situation will be much worse than what Iraq suffered in The time of the economic blockade 1990-2003. 
    The economic expert stated, "Hence comes the importance of caution and hard work within the framework of a real development plan in which an important part of oil revenues is used to diversify the country's economy and activate other non-oil sectors and not make it hostage to one depleted commodity that the world plans to dispense with in the future." 
    A draft agreement published earlier confirmed that one of the options for the outcome of the talks was “to gradually phase out fossil fuels in accordance with the best scientific findings.” 
    Later, another draft was published but it was devoid of the phrase “phasing out,” instead saying that nations should “reduce the use and production of fossil fuels in a fair, orderly and equitable manner.” 
    While this change in phrase may be seen as small, subtle differences in UN documents can result in huge changes in states' obligations.
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