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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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    Parliamentarian reveals the extent of the budget’s impact on liquidity and state obligations: It is

    Rocky
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    Parliamentarian reveals the extent of the budget’s impact on liquidity and state obligations: It is Empty Parliamentarian reveals the extent of the budget’s impact on liquidity and state obligations: It is

    Post by Rocky Sat 14 Sep 2024, 4:27 am

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    [size=52]Parliamentarian reveals the extent of the budget’s impact on liquidity and state obligations: It is exposed to 3 strong shocks[/size]

    [size=45]Member of the Finance Committee, Mustafa Jabbar Sand, revealed that the budget was exposed to three strong shocks, while he specified the extent of their impact on liquidity and the state’s obligations.[/size]
    [size=45]Sand said in a post on Facebook, "The budget is exposed to three strong shocks that will greatly affect the state's liquidity and obligations."[/size]
    [size=45]“The first point is the decline in oil prices, as the budget set oil prices at $80 per barrel, assuming that there is an increase in prices (70 + 10), and to facilitate the calculation, every dollar that falls below the set price causes a loss of $100 million per month, and if the decline continues for a whole year, the loss is $1.2 billion. This is if Iraqi oil is sold at a discount of one dollar from $80, so what if Iraqi oil is sold today at $68 per barrel? The monthly loss is $1.2 billion, and the annual loss is $14.4 billion if the price continues for a whole year,” he added.[/size]
    [size=45]Sand explained that “the second point is OPEC’s reduction, because the region exports about 200 thousand barrels per day via tankers and about 60 thousand barrels for local consumption, OPEC asked Iraq to reduce production by about 200 thousand barrels from national production, and the value of the loss of the reduction is estimated at 480 million dollars per month, and if it continues for a whole year, it is estimated at 5.7 billion dollars.”[/size]
    [size=45]He explained that “the third point is the failure to hand over the region’s oil revenues to the center, as the budget stipulated that the region is committed to exporting 400,000 barrels per day, and its annual loss due to this violation is estimated at $11.6 billion,” noting that “the total losses above are estimated at $31.5 billion, equivalent to 41 trillion dinars, which represents 70% of the total public salaries of the state. The first point is caused by someone outside the will of everyone, and the second and third are borne by the prime minister and his government, and everyone who heard about it and accepted it.”[/size]
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