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Will the standard of living of the citizen improve and oil prices above 80 dollars?


yota691
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 Baghdad: Mustafa Al-Hashemi
International oil prices are still above the $80 per barrel barrier, at a time when this means a jump in Iraq’s revenues, because the budget has adopted a much lower price, which makes the public wonder where these differences go and why the standard of living for individuals does not improve?
In this regard, the financial affairs specialist, Ammar Mahmoud Al-Samarrai, explains that “Iraq has external debts that have resulted in interest, which necessitates expediting the extinguishment of these debts, from oil revenues, to ensure that Iraq continues to obtain the stability of its credit rating.”
Oil prices rose, heading for an increase of 4.5% during the week, due to indications that some industries are starting to switch from using high-priced gas as fuel to oil, and Brent crude futures jumped 93 cents, or 1.1%, to $ 82.88 a barrel by the closing of the Tokyo Stock Exchange.
Al-Samarrai added to “Al-Sabah” that “the surplus amount of the oil price difference will not serve the citizen directly because of the large number of external debts imposed by the conditions that the country has experienced in previous years,” noting that any recovery in oil prices and in light of the weight of debts, the citizen will not He sees no improvement in the living situation.
He stressed that "activating the private sector will raise the gross domestic product to good rates that will achieve stability in the markets by increasing its supply of job opportunities, and thus the private sector will be the largest absorber of unemployment."
Al-Samarrai believed that “reducing dependence on oil as a unilateral resource for the budget will enhance the opportunities for the private sector to rise in the operation of the productive sectors, including agriculture and tourism, which thus opens the doors of investment for tourism and agricultural marketing companies and others, to ensure that Iraq gets rid of external debts.”
He called on those in charge of the economic file to "put effective plans to quickly get rid of debts and achieve economic recovery for the finances of individuals, which would achieve stability in the economic conditions of families and improve their standard of living."
For his part, the economic affairs specialist, Safwan Qusay, said that the government is required to carry out a process of changing the compass of public spending and moving towards investment by activating the Iraq Reconstruction Fund, proposing to disengage the investment budget from public spending. Qusay said: "The increase in the level of spending is due to the increase in operational, not investment, spending. The number of Iraqi state employees increased from 800,000 employees before 2003 to nearly 4 million and 500 thousand employees so far, as well as the number of retirees as well as those covered by social care."
He added that "the investment budget figures in the laws of public budgets for the previous years are very shy, stressing the possibility of disengaging the investment budget from public spending and making it part of the reconstruction fund, and that another step should follow to free government capital."
And he indicated that "Iraq since 1920 has invested in government capital and the returns are almost negligible," explaining that "there is money with the government, if its ownership is transferred to the Iraq Reconstruction Fund and managed with an investment mentality, it will be able to achieve sustainable development."
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Good morning Yota, 

 

"He called on those in charge of the economic file to "put effective plans to quickly get rid of debts and achieve economic recovery for the finances of individuals, which would achieve stability in the economic conditions of families and improve their standard of living."

Oil is at 80usd p/b The above quote, I believe, is talking about implementing HCL, and, while the oil riches are now happening at this price, its the perfect time. The budget was calculated on 43 usd p/b or close to it. 

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1 hour ago, shixjr said:

OK.  You are cynical.  What do I win?  😁


You didn’t answer in the form of a question .... ergo - “ What is “ ... oh, did I forget to say this is just like Jeopardy ?

 

To show that I’m a great sport, your consolation prize is expenses paid evening of spanking ( and other such delights to remain secret until said evening ), with a Dominatrix with the nationality of your choice. 
 

You’ll be required to sign a full release form absolving us of all responsibilities if you sustain injuries and proof of medical insurance. Mere formalities of course.

 

 

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19 hours ago, markb57 said:

well, he's entitled to rate what he wants. it just made no sense to me....

mark, you are correct sir….

Oil was over 140.00 a barrel in the summer of 2007 and the the average Iraqi was a lot worse off than they are today. 
I know because I was there and witnessed it first hand. The level of corruption is what’s gonna make the difference in the standard of living for the citizens of Iraq, not the price of oil….

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6 hours ago, DoD said:

Oil was over 140.00 a barrel in the summer of 2007 and the the average Iraqi was a lot worse off than they are today. 
I know because I was there and witnessed it first hand. The level of corruption is what’s gonna make the difference in the standard of living for the citizens of Iraq, not the price of oil….

you might be right DoD. the higher the price of oil, the higher the level of corruption. and , the higher the level of corruption, the worst the standard of living for the citizens of iraq.

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