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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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    The Collapse Has Begun... 8 Revelations About the Truth About Iraq's Economy

    Rocky
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    The Collapse Has Begun... 8 Revelations About the Truth About Iraq's Economy Empty The Collapse Has Begun... 8 Revelations About the Truth About Iraq's Economy

    Post by Rocky Mon 09 Sep 2024, 4:14 am

    [size=35][size=35]The Collapse Has Begun... 8 Revelations About the Truth About Iraq's Economy[/size]
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    economy

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    2024-09-09 | 01:44
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    Alsumaria News - Economy

    An economic researcher identified 8 latent weaknesses in the Iraqi economy, in a comment on fears of economic collapse, describing the collapse as having occurred a long time ago, and the fluctuations in oil prices prolong or accelerate the final collapse.


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    Economic researcher Munar Al-Obaidi said in a clarification followed by Sumaria News, that with the decline in oil prices and the unprecedented rise in operating expenses to reach a growth rate in current expenses exceeding 30% and a decline in revenues by 16%, the most important question arises: Is the Iraqi economy facing a crisis or a collapse? He pointed out that “the factors of the sustainability of any economy depend primarily on the diversity of its sources and the control and planning of its expenditures.”



    He explained that "we cannot expect the sustainability of an economy in which more than 500 thousand researchers enter the labor market annually and is unable to create productive job opportunities of more than 20 to 30 thousand opportunities at most, and an economy based on the sale of one commodity and its prices are not controlled through one outlet and for only two countries."

    He continued in describing the Iraqi economy as "an economy based on a deteriorating business environment with no role for the private sector in turning the wheel of the economy, an economy that adopts the private sector and with patronage laws and legislation that give preference to the public sector, a consumer economy based on an unprecedented consumption pattern without production having a role, an economy that employs more than 6 million employees with almost zero productivity, an economy marred by corruption, lack of transparency and inequality of opportunity, an economy that does not have foreign investments and is unable to attract them."

    He considered that "the collapse happened a long time ago and the fluctuations in oil prices are merely prolonging or accelerating the process of the collapse and the manifestations of the collapse will be faster than the decline in oil prices."
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