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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

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


    Despite the rise in domestic borrowing, a government advisor says the financial situation is stable

    Rocky
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    Despite the rise in domestic borrowing, a government advisor says the financial situation is stable Empty Despite the rise in domestic borrowing, a government advisor says the financial situation is stable

    Post by Rocky Sun 08 Dec 2024, 5:03 am

    Despite the rise in domestic borrowing, a government advisor says the financial situation is stable 

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    Economy News - Baghdad
    [rtl]The financial advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed that Iraq's financial situation is completely stable, noting that financial revenue flows, especially non-oil, have witnessed a noticeable improvement thanks to strengthening control over customs and taxes.[/rtl]
    [rtl]Saleh explained that Iraq has what is known as "fiscal space," which allows the government to continue spending even with some domestic borrowing, stressing that the burden on the budget is still within normal limits compared to the gross domestic product.[/rtl]
    [rtl]He pointed out that "Iraq, historically, spends the equivalent of 80% of the planned annual budget, while the remaining percentage is not achieved for various reasons."[/rtl]
    [rtl]Regarding inflation and economic growth, Saleh confirmed that “the inflation rate for the current year did not exceed 4%, while the non-oil GDP achieved a growth of 6%, which is an unprecedented rate in the history of Iraq.”[/rtl]
    [rtl]He added that "the financial situation for the current year shows good performance despite some internal borrowing amounting to about 10 trillion dinars, which is something that can be controlled under the current circumstances."[/rtl]
    [rtl]Saleh expected that "the financial situation in 2025 will be better, despite the continuing challenges associated with the general budget being 90% dependent on oil revenues."[/rtl]
    [rtl]He concluded by saying, "These indicators reflect Iraq's ability to achieve economic stability, despite internal challenges and global fluctuations in oil prices."[/rtl]


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