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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Salaries are “sacred” but the price will be high… Is Iraq ready?

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 277658
    Join date : 2012-12-21
    • Post n°1

    Salaries are “sacred” but the price will be high… Is Iraq ready? Empty Salaries are “sacred” but the price will be high… Is Iraq ready?

    Post by Rocky Fri 13 Sep 2024, 4:42 am

    [size=38]Salaries are “sacred” but the price will be high… Is Iraq ready?[/size]


    [You must be registered and logged in to see this image.]

    September 13, 2024[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala: The decline in oil prices poses a major challenge to the Iraqi economy, which relies heavily on oil revenues to finance its general budget.
    Iraq, as OPEC's second-largest crude oil producer, is directly affected by any price fluctuations.
    When OPEC decides to reduce its production quota, the impact is twofold: a decline in revenues as exported quantities fall, and greater financial pressure on the Iraqi government, which is already suffering from problems controlling expenditures.
    The decline in oil production and exports to less than 4 million barrels per day, with the decline in oil prices, will lead to a decline in oil revenues, which will increase the budget deficit.
    Oil revenues in the budget were estimated at $70 per barrel, an estimate that may be overly optimistic given current market volatility.
    Data indicates that operating expenses account for 80% of total budgets, with a large allocation to salaries and pensions. This large expenditure represents a pressure on the budget in light of declining revenues.
    Criticisms directed at the Ministry of Finance regarding the lack of financial rationalization come in light of the increase in public spending and the absence of clear plans to diversify the economy or improve non-oil revenues. In light of the heavy dependence on oil, the Iraqi government will remain exposed to any fluctuations in energy markets.
    Mazhar Saleh, the prime minister’s financial advisor, points to the possibility of a financial crisis in 2025. These expectations are based on continued low oil prices and the absence of strict fiscal policies.
    Although the government does not expect major problems in 2024, the challenges in 2025 could be greater if strict measures are not taken to control spending.
    Analysts believe that Iraq needs to carry out urgent economic reforms, as excessive reliance on oil as the sole source of revenue makes the Iraqi economy vulnerable to any fluctuations in the global market.
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Tue 17 Sep 2024, 9:59 pm