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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


    Will the drop in oil affect salaries? An economist warns

    Rocky
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    • Post n°1

    Will the drop in oil affect salaries? An economist warns Empty Will the drop in oil affect salaries? An economist warns

    Post by Rocky Fri 06 Sep 2024, 4:42 am

    Will the drop in oil affect salaries? An economist warns
    • Time: 2024/09/06 12:25:23
       
    • Reading: 130 times

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    {Economic: Al Furat News} An economic expert warned of the impact of the decline in oil prices on Iraq’s financial revenues generated from selling crude oil in global markets.
    Salah Nouri told Al Furat News Agency, "The drop in oil prices certainly affects the increase in the budget deficit, as it also affects the availability of cash liquidity for the Ministry of Finance."
    He added, "Due to the sensitivity of the situation of employees' salaries, the Ministry of Finance prioritizes their disbursement, through internal borrowing from government banks and issuing debt bonds, although this also affects the financial liquidity of banks."
    He pointed out that among the financial options is "reducing spending on investment projects, which affects the construction of infrastructure and the level of employment of workers in the private sector."
    Nouri believed that "salaries are diverse and constitute a high percentage of the operating budget, namely, salaries of employees in the public service, salaries of retired civilians and military personnel, salaries of political prisoners and detainees, as well as salaries of detainees (Rafha), which represents the largest percentage of the remaining categories according to its law, as it includes all family members and not just the head of the family, in addition to salaries of martyrs' families, and salaries of martyrs' families for military and terrorist operations."
    Oil prices were on track for their biggest weekly loss in nearly a year on Friday on persistent concerns about weak demand and ample supply, even as OPEC+ delayed a planned output increase by two months.
    Brent crude rose to around $73 a barrel on Friday but was down nearly 8% on the week, with West Texas Intermediate crude nearing $69.
    OPEC said in a statement that the alliance would not boost output by 180,000 barrels per day in October and November, although its plan to restore 2.2 million barrels per day over the course of a year remains in place.
    Iraq needs 64 trillion dinars ($48 billion) annually just to cover operating expenses (salaries).
    Oil has been trending lower since early July on concerns about demand from major consumers, especially China, and signs of rising supply from outside the Organization of the Petroleum Exporting Countries.
    Raghad
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