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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


    What are the reasons for the World Bank’s demand to reform the retirement system in Iraq?.. Economic

    Rocky
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    What are the reasons for the World Bank’s demand to reform the retirement system in Iraq?.. Economic Empty What are the reasons for the World Bank’s demand to reform the retirement system in Iraq?.. Economic

    Post by Rocky Wed 22 May 2024, 4:33 am

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    [size=52]What are the reasons for the World Bank’s demand to reform the retirement system in Iraq?.. Economic clarification[/size]

    [size=45]Economist Nabil Al-Marsoumi explained the reasons for the World Bank's demand to reform the retirement system in Iraq.[/size]
    [size=45]Al-Marsoumi said in a blog post, “According to data from the General Retirement Directorate, the total number of civilian and military retirees in Iraq in 2020 reached 2.486 million retirees, while the number of retirees who receive their salaries from the retirement fund reached 544 thousand retirees.”[/size]
    [size=45]He pointed out that “the budget bears the disbursement of the salaries of 1.942 million retirees,” noting that “the total value of the monthly salaries of retirees amounts to 1.551 trillion dinars, and the annual value is 18.612 trillion dinars.”[/size]
    [size=45]He stated that “the total annual pension salaries borne by the general budget are 11.772 trillion dinars in 2020, while 6.840 trillion dinars are paid from the retirement fund.”[/size]
    [size=45]He stressed that “today’s numbers have risen a lot, especially since 120,000 employees annually are referred to retirement after reducing the retirement age to 60 years,” noting that “retirement referrals before 1/1/2008 are all paid from the public treasury according to the laws of transitional justice, political dismissals, and all others.” Laws legislated by the House of Representatives. As for those referred to retirement after 1/1/2008, their salaries are paid from the Retirement Fund, while retirement rewards are paid from the state treasury.”[/size]
    [size=45]He continued, “The government depends, in its financing of pensioners’ salaries and all other forms of social protection programs, on financial resources financed by oil revenues, which exposes it to delaying or even to the risk of stopping due to the fluctuation of these revenues, especially linked to highly volatile global oil prices, due to external rather than internal factors on the one hand, and low efficiency in Managing the funds of the pension fund, which lacks transparency in disclosing its assets and aspects of its investments, on the other hand.”[/size]
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