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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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    Where is the danger in budget tables? An economist breaks it down

    Rocky
    Rocky
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    • Post n°1

    Where is the danger in budget tables? An economist breaks it down Empty Where is the danger in budget tables? An economist breaks it down

    Post by Rocky Tue Jun 04, 2024 6:12 am

    Where is the danger in budget tables? An economist breaks it down
    • Time: 06/03/2024 22:37:44
       
    • Read: 3,224 times

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    {Economic: Al-Furat News} The economic expert, Nabil Al-Marsoumi, revealed the danger in the federal budget schedules for the year 2024.
    A useful summary of important news can be found on the Al-Furat News channel on Telegram. [You must be registered and logged in to see this link.]
    Al-Marsoumi said, during his hosting of the program {Free Speech} broadcast by Al-Furat satellite channel this evening, that: “
    The tables approved, as they are, a very large public spending amounting to 211 trillion dinars; but the danger in them lies in the large deficit of up to 64 trillion dinars, which is a real reality.” And it is not hypothetical.
    - The Ministry of Finance’s revolving balance has decreased from 23 trillion dinars to 1 trillion and 571 billion dinars, and the deficit will be filled in internal and external borrowing.
    - All public revenues in the country are unstable and are not able to meet operational spending, which amounts to 156 trillion dinars.
    - The volume has increased Salaries in Budget 24, in addition to salaries for protection, civilians, and retirees, amount to 86 trillion dinars, or 71% of oil revenues.
    - The industrial and agricultural sector are the lowest in the budget allocations, and 40% of employee salaries are for the military sector, so the budget is far from the investment sector.
    - Salaries of the protection network The social price is only 6 trillion dinars. 
    - OPEC Plus cuts have been exceeded by Iraq in the past months, and today there are demands for an additional reduction, and expectations are that oil prices will fall below the level of $80. 
    - The Basra Oil Company sells crude oil for about 11 thousand Iraqi dinars per barrel and receives about less than. 2 and a half trillion dinars, and it self-finances salaries, incentives, and investment activities.
    The government's step is incorrect after raising the price of a barrel by 16 dinars per barrel and the money going to the state treasury. It is also considered a restriction on the movement of spending.
    -The decision is very dangerous and will affect future exports and the ability of refineries to achieve self-sufficiency in petroleum derivatives.
    Wafaa Al-Fatlawi
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