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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


    An economic crisis looms on Iraq’s horizon.. cuts, delays and deterioration of services are on the d

    Rocky
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    An economic crisis looms on Iraq’s horizon.. cuts, delays and deterioration of services are on the d Empty An economic crisis looms on Iraq’s horizon.. cuts, delays and deterioration of services are on the d

    Post by Rocky Tue 03 Sep 2024, 4:08 am

    An economic crisis looms on Iraq’s horizon.. cuts, delays and deterioration of services are on the doorstep

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    Baghdad Today - Baghdad 
    Oil expert and consulting engineer Haider Al-Battat warned today, Monday (September 2, 2024), of the danger of the decline in oil prices on Iraq during the coming period.
    Al-Batat said in an interview with Baghdad Today, "If oil prices fall, Iraq may face a serious economic crisis that includes a decrease in government revenues because oil is the main source of revenues, which leads to a shortage in funding for government programs and services."
    He explained that "this matter will have an impact on economic growth and the lack of funding could lead to a slowdown in development projects, which would affect economic growth and job creation. This decline would also lead to a deterioration in public services and a decrease in revenues could lead to a reduction or delay in the provision of basic services such as health, education and infrastructure."
    Regarding the impact of the US elections on oil prices, Al-Batat explained that “if a candidate who supports policies friendly to the oil sector or promotes expanding domestic production wins, this could lead to an increase in the global supply of oil and thus the price may fall, and the opposite is true if the candidate promotes reducing production or imposing strict environmental restrictions.”
    The consulting engineer concluded by saying, “If the president-elect focuses on renewable energy and clean technologies, this may lead to reducing dependence on oil and increasing pressure on prices. In general, the impact of elections on oil prices depends on the policies and trends announced by the candidates and how they are implemented after the elections.”
    Oil prices recently stabilized at their lowest levels in eight months, as fears of a recession in the United States, the world's largest oil consumer, faded due to concerns that escalating tensions in the Middle East could affect supplies from the largest producing region.
    The price of a barrel of oil was calculated at $70 in Iraq's budgets for the years 2023, 2024 and 2025, "which is less than what is currently sold in global markets, and about 3.5 million barrels of oil are exported daily, which is Iraq's share in OPEC, on the basis of which Iraq's oil and non-oil revenues were calculated, which amounted to 147 trillion dinars.
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