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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


    Oil threatens Iraqi employees’ salaries.. What does the barrel’s drop to $67 mean?

    Rocky
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    Oil threatens Iraqi employees’ salaries.. What does the barrel’s drop to $67 mean? Empty Oil threatens Iraqi employees’ salaries.. What does the barrel’s drop to $67 mean?

    Post by Rocky Mon 09 Sep 2024, 4:12 am

    [size=35][size=35]Oil threatens Iraqi employees’ salaries.. What does the barrel’s drop to $67 mean?[/size]
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    economy

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    2024-09-09 | 03:36
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    Alsumaria News - Economy

    The head of the parliamentary opposition coalition, Amer Abdul Jabbar, revealed today, Monday, the government's "inability" to pay employees' salaries in the event that oil prices fall below $67, considering that the government relied on the rise in oil prices without activating non-oil revenues.


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    Abdul Jabbar said in an interview with Sumarya News, "We have repeatedly warned the government to develop a correct work strategy to implement its government program, including addressing unemployment without government appointments, but unfortunately, poor planning has made the government go to a policy of partial reaction and random decision-making due to the weakness of the advisory base that was founded on the principle of partisan quotas and family favors to appoint advisors."



    Abdul Jabbar added, "Therefore, the government took several ill-considered decisions, and we registered our objection to them immediately after they were issued, including changing the exchange rate of the dinar, random appointments, and canceling the mobile card tax. These decisions increased the deficit in the general budget to more than 64 trillion dinars, which made the Ministry of Finance work to obstruct the release of spending for projects of all ministries and governorates except for the (spoiled ones), and this created a large discrepancy in the percentage of completion of ministries and governorates."

    Abdul Jabbar stressed that "the government relied on the rise in the price of oil without activating non-oil revenues, and we warned it and refused to vote on the budget law and proposed solutions to address unemployment without government appointments, reduce the deficit, and address the problem of the salary scale and the problems of retirees without increasing fees and taxes on citizens, but the government insisted on relying on the rise in the price of oil with a policy of withholding the release of spending for projects and using paid media to drum and trumpet about imaginary or simple achievements compared to the size of the explosive budget."

    Abdul Jabbar pointed out that "the drop in the price of oil to less than $67 will lead to the expansion of the deficit from the investment budget to the operating budget, and will even lead to a deficit in paying salaries. We expect that the government will resort to borrowing from the balance of the Central Bank and other banks for the purpose of paying salaries, and here it will address the mistake with the mistake. If the situation continues as it is, it is likely that this will lead to the collapse of the state, God forbid."
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