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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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    Iraq: Global indicators confirm oil prices to keep growing

    Rocky
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    • Post n°1

    Iraq: Global indicators confirm oil prices to keep growing Empty Iraq: Global indicators confirm oil prices to keep growing

    Post by Rocky Tue 25 Jun 2024, 9:44 am

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      PM financial advisor, Mudhhir Saleh, identified on Monday, the most important economic gains achieved due to the oil price growth, pointing out that global energy market sources indicate that the current growth in oil prices will continue until the end of the year 2025.“There is a clear link between the increase in revenues from Iraq’s exported oil due to the growth in energy prices in global markets, and the sustainability of financing investment projects whose allocations are estimated in the Federal General Budget Law No. 13 of 2023 which exceeds 55 trillion dinars annually," said Saleh to the Iraqi News Agency - INA.He explained, “The oil prices grow above the estimated rates that lead to reducing the hypothetical deficit gap in the annual general budget, which is estimated at 64 trillion dinars and provides sustainability of spending on development projects. The hypothetical deficit is no longer a reason for faltering or delaying reconstruction projects and expenditures related to investment.""The government program has prioritized, in its philosophy and general directions, the policy of diversifying sources of income in the national economy," he included.He highlighted, “For the first time, sovereign guarantees are granted to market activities and the private sector as a partner in development, with priority to major economic diversification activities, by providing appropriate financing to the private sector from global financial sources. It comes to finance the transfer of modern technology, especially in the manufacturing and petrochemical industries, as well as industries related to the provision of high-quality products. A link to reconstruction, to ensure stable and high growth rates in addition to provide the requirements for sustainable development and operation.”“Global energy market sources indicate that the current oil prices will continue to rise until the end of the year 2025, with an average price of one barrel of crude oil at no less than $82, which is an average that exceeds the conservative price mentioned in the general budget law above, which was estimated at $70 per barrel," he concluded.https://ina.iq/eng/33339-iraq-global-indicators-confirm-oil-prices-to-keep-growing.html
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