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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


    New recommendations of the International Monetary Fund regarding Iraq

    Rocky
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    New recommendations of the International Monetary Fund regarding Iraq Empty New recommendations of the International Monetary Fund regarding Iraq

    Post by Rocky Mon 04 Mar 2024, 4:03 am

    [size=35][size=35]New recommendations of the International Monetary Fund regarding Iraq[/size]
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    Economy

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    03-03-2024 | 05:47
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    Al-Sumaria News - Economy

    Iraq must increase its non-oil exports and enhance government revenues, to reduce the economy’s exposure to oil price shocks, according to new recommendations of the International Monetary Fund.


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    The Fund warned, in a report issued today, that greater declines in oil prices, or extending OPEC+ production cuts, may affect Iraq’s financial and external accounts. While he believed that the country should focus on achieving higher and more sustainable non-oil growth to accommodate the rapidly growing workforce.



    The Fund’s statement came at the conclusion of its mission’s visit to the Jordanian capital, Amman, and a meeting with the Iraqi authorities from February 20 to 29, to conduct Article 4 consultations for the year 2024.

    *The break-even price
    : The rise in public spending in the country pushes the price of a barrel of oil required to achieve financial break-even to more than $90. This could push the public finance deficit to 7.6% in 2024, according to the Fund.

    Several bodies raised their expectations for oil prices this year, including Bloomberg Intelligence, which saw that any escalation of the conflict in the Middle East would push the price to above $100, after previously estimating that the average price this year would reach $80, while Goldman Sachs raised He estimates prices will peak at $87 a barrel in the summer, $2 more than his previous estimate.
    In January, OPEC expected global demand for its oil to rise during 2024 by 800,000 barrels per day compared to last year, reaching 28.5 million barrels per day, supported by the growth of the global economy, ruling out that political and geopolitical developments would lead to a major and tangible change in the growth momentum. .

    Growth and Inflation
    The Fund estimated Iraq's real non-oil GDP growth at 6% in 2023 after declining in 2022, while the headline inflation rate fell from a high level of 7.5% in January 2023 to 4% by the end of the year.

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