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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


    Employee salaries will be delayed and may be reduced.. Iraq enters the danger zone due to oil - Urge

    Rocky
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    • Post n°1

    Employee salaries will be delayed and may be reduced.. Iraq enters the danger zone due to oil - Urge Empty Employee salaries will be delayed and may be reduced.. Iraq enters the danger zone due to oil - Urge

    Post by Rocky Sat 07 Sep 2024, 4:56 am

    Employee salaries will be delayed and may be reduced.. Iraq enters the danger zone due to oil - Urgent
    [You must be registered and logged in to see this link.] |Today, 
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    Baghdad Today - Baghdad
    Economist Nabil Al-Marsoumi expected, today, Saturday (September 7, 2024), that employees’ salaries would be delayed during the next two months, while he expected that salaries would be reduced if oil prices continued to decline for a period of 6 months.
    Al-Marsoumi wrote a post on his personal account on the Facebook platform, which was followed by Baghdad Today, that “the drop in oil prices to $70 with the decline in Iraqi oil exports to 3.3 million barrels per day will lead to a decline in monthly oil revenues to 9 trillion dinars, of which one trillion dinars will go to cover the expenses of oil licensing companies, leaving 8 trillion dinars, which is only enough to finance salaries in their various forms, which amount to 7.5 trillion dinars per month, while half a trillion dinars will be allocated to finance the items of the ration card.”
    He added, "The rest of the operational and investment expenses are being financed from scarce non-oil revenues and from domestic and foreign borrowing. Taxes and fees will rise, debts will increase, and the downward path of foreign reserves in the Central Bank of Iraq will begin because it is the first and last line of defense in light of the absence of any sovereign fund in Iraq. The Ministry of Finance will suffer even in financing salaries during the next two months, and therefore it is expected that salaries will be delayed and may be reduced if the price of a barrel remains in the seventies for 6 months."
    On Wednesday, September 4, 2024, economic expert Mustafa Hantoush warned of the danger of the decline in oil prices in the global market on Iraq’s budget .
    Hantoush told Baghdad Today, "Iraq depends entirely on oil sales revenues to finance its budget, and certainly a decrease in those prices will have a major and dangerous impact on securing budget funds, especially in light of the significant increase in the size of the operating budget, which constitutes more than (75)% of the budget ."
    He explained that "according to information, Iraqi oil is sold at less than global prices, and for this reason the budget relies on numbers lower than the price of oil sold, in anticipation of any emergency event that may reduce those prices, especially since the world is facing incidents that may lead to new declines, and this certainly has a major impact on the budget situation ."
    Hantoush urged "the relevant government agencies to move quickly to find solutions to confront such an emergency, as this matter may affect the possibility of providing sufficient funds to support and finance the budget ."
    Oil prices fell, continuing their losses after falling more than 4% to hover around their lowest levels since December, amid expectations that the political conflict that halted exports from Libya's main ports may be resolved and concerns about slowing global demand growth .
    Informed sources say that "the price of a barrel of Iraqi oil fell today in the global markets to reach $69 per barrel, noting that its estimated price in the three-year budget was fixed at $70 per barrel," noting that "Iraqi oil is sold at its monthly price, not daily ."
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