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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 budget is exposed to 3 strong shocks.. A representative reveals the extent of its impact on liqu

    Rocky
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    The budget is exposed to 3 strong shocks.. A representative reveals the extent of its impact on liqu Empty The budget is exposed to 3 strong shocks.. A representative reveals the extent of its impact on liqu

    Post by Rocky Sat 14 Sep 2024, 4:42 am

    The budget is exposed to 3 strong shocks.. A representative reveals the extent of its impact on liquidity and state obligations

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    Baghdad Today - Baghdad
    Member of the Finance Committee, Mustafa Jabbar Sand, revealed today, Friday (September 13, 2024), that the budget was exposed to 3 strong shocks, while he determined the extent of their impact on liquidity and the state’s obligations.
    Sand said in a post on Facebook, which was followed by "Baghdad Today", that "the budget is exposed to three strong shocks, which will greatly affect the liquidity and obligations of the state."
    He added, "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). 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. 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."
    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."
    He explained that "the third point is the failure to hand over the region's oil revenues to the center, as the budget stipulated the region's commitment to export 400 thousand barrels per day, and its annual loss due to this violation is estimated at 11.6 billion dollars," noting that "the total losses above are estimated at 31.5 billion dollars, 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."
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