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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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    Economic clarification: Why do Iraq’s reserves not rise despite the rise in oil prices?

    Rocky
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    Economic clarification: Why do Iraq’s reserves not rise despite the rise in oil prices? Empty Economic clarification: Why do Iraq’s reserves not rise despite the rise in oil prices?

    Post by Rocky Fri Jun 21, 2024 8:07 am

    Economic clarification: Why do Iraq’s reserves not rise despite the rise in oil prices?

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    Economy News - Baghdad
    [rtl]Today, Friday, economic expert Mahmoud Dagher explained the reasons for the failure of Iraq's financial reserves to increase despite the rise in oil prices, while stressing that the country has no hope except by diversifying its output and pressuring spending, especially operational.[/rtl]
    [rtl]Dagher said in an interview with Al-Iqtisad News, “Reserves are not measured by size, but by adequacy, and there are two indicators of adequacy: the adequacy of reserves to cover imports without any exports, and I believe that it reaches Iraq with the existing reserve remaining for approximately 12 months, which is an excellent coverage of foreign reserves for exported currency.” ".[/rtl]
    [rtl]He added: "If we want to answer the question of why the reserves, which exceed 100 billion, do not increase despite the rise in oil prices, this is due to two reasons. The first is direct and is the result of the Central Bank’s sales rising to 300 million dollars per day to cover imports."[/rtl]
    [rtl]He pointed out, "The second reason is indirect and results from the increase in public spending, especially the salary bill, which, along with retirement, subsidies, and nationals, has reached close to 100 trillion."[/rtl]
    [rtl]The economic expert stated, "The adequacy of reserves is good; since Iraq is an oil economy, it is difficult to rely on adequacy alone due to the possibility of a decline in the price of a barrel."[/rtl]


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