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


    Iraq's budget breathes a sigh of relief with rising oil prices..may witness other "jumps"

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 281112
    Join date : 2012-12-21
    • Post n°1

    Iraq's budget breathes a sigh of relief with rising oil prices..may witness other "jumps" Empty Iraq's budget breathes a sigh of relief with rising oil prices..may witness other "jumps"

    Post by Rocky Wed 09 Oct 2024, 4:20 am

    Iraq's budget breathes a sigh of relief with rising oil prices..may witness other "jumps"

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

    +A
    -A


    Baghdad Today - Baghdad 
    Financial and economic affairs expert Ahmed Al-Tamimi confirmed today, Tuesday (October 8, 2024), that the rise in global oil prices will revive the Iraqi state’s general budget.
    Al-Tamimi said in an interview with Baghdad Today, "The repercussions of the war on Lebanon and fears of escalation in the region and the expansion of the war circle led to a rise in oil prices, and this rise will continue in the coming days with the continuation of the war and fears of its expansion, and there may be jumps in prices whenever the Middle East region enters into more risks."
    He added, "The rise in oil prices will have a positive and significant impact on Iraq, especially since it relies primarily on financing its budget through oil sales. This rise will revive the budget and save money, which will reduce the budget deficit and provide surplus funds that the state can use to finance more important and strategic projects."
    On Wednesday, September 4, 2024, economic expert Mustafa Hantoush warned of the danger of the decline in oil prices in the global market on Iraq’s budget .
    Hantoush told Baghdad Today, "Iraq depends entirely on oil sales revenues to finance its budget, and certainly a decrease in those prices will have a major and dangerous impact on securing budget funds, especially in light of the significant increase in the size of the operating budget, which constitutes more than (75)% of the budget ."
    He explained that "according to information, Iraqi oil is sold at less than global prices, and for this reason the budget relies on numbers lower than the price of oil sold, in anticipation of any emergency event that may reduce those prices, especially since the world is facing incidents that may lead to new declines, and this certainly has a major impact on the budget situation ."
    Hantoush urged "the relevant government agencies to move quickly to find solutions to confront such an emergency, as this matter may affect the possibility of providing sufficient funds to support and finance the budget ."
    Iraqi oil prices rose today, Tuesday (October 8, 2024), on the second day of trading this week for futures contracts, and Brent and Texas crude prices also rose compared to yesterday .
    According to data reviewed by Baghdad Today, Basra Heavy crude oil recorded $75.00 per barrel during today's trading, while the average recorded $76.20 per barrel, with a change rate of +0.52 and +0.72, respectively.
    The data also showed an increase in global crude prices, as British Brent crude recorded $79.79, while US West Texas Intermediate crude recorded $75.98 per barrel, by +1.17 and +1.16 .
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Fri 22 Nov 2024, 2:50 pm