The World Bank sounds the alarm in Iraq: The food security crisis is worrying

[6ly410]

SULAIMANI — Mazhar Muhammad Salih, the financial advisor to Iraqi Prime Minister Mustafa al-Kadhimi, said on Thursday (May 5) Iraq’s general revenue is expected to exceed $150 billion in 2022. 

Salih stated the International Monetary Fund (IMF) had predicted the increase in Baghdad’s oil and non-oil revenues. 

The IMF estimated the average daily exports of crude oil at 3.4 million barrels per day with an average annual price of $104 or above on each barrel exported, and a non-oil revenue of at least $8 - $10 billion, Salih explained. 

He said if the revenue of the Kurdistan Region’s oil and other revenues were added, Iraq’s total revenues would exceed $150 billion in the year of 2022. 

The IMF had earlier predicted an increase in Iraq’s revenue due to the rising oil prices this year, expecting Iraq’s revenue to increase by 73 percent this year compared to last year. 

(NRT Digital Media)

[edbeach]

I don't understand how people can think this worthless dinar go up to $3.73 from a 1/6 of a penny due to revenue exceeding 150 billion this year I could see going 03 cents to 10 cents to start. Example look at the #1 producer of oil Saudia Arabia they expect to have revenue 327 billion this year. I don't see them increasing their rate to over 3.73 as some people are predicting about Iraq/ In fact their rate is equal to 27 cents and this is the number 1 oil producer in the world. something wrong with this picture people are trying to claim about Iraq. People need to rethink what they are saying and Saudia Arabia has been low for years and still #1 in the world.

[steveh12]

I just saw online stating that the U.S is number 1 in oil.

Saudia is number 2

Iraq is number 6

[rvmydinar]

41 minutes ago, steveh12 said:

I just saw online stating that the U.S is number 1 in oil.

Saudia is number 2

Iraq is number 6

What about kuwaiti? What number is kuwait? Cause kuwait's currency is above 3 bucks and the highest currency in the world.

[chris2028]

19 minutes ago, rvmydinar said:

What about kuwaiti? What number is kuwait? Cause kuwait's currency is above 3 bucks and the highest currency in the world.

From what I am seeing, Kuwait is number 10 on the list. Now mind you these charts are showing the largest producers and consumers of oil around the world. US. is number one followed by Russia. Iraq is number 5. Based on 2021 Numbers

[screwball]

13 hours ago, steveh12 said:

I just saw online stating that the U.S is number 1 in oil.

Saudia is number 2

Iraq is number 6

incorrect two former oil ministers have said that they are number 2 just wait.......more than SA

[screwball]

12 hours ago, rvmydinar said:

What about kuwaiti? What number is kuwait? Cause kuwait's currency is above 3 bucks and the highest currency in the world.

exactly.....because under a reset and move to gold and asset backed currency as per IMF have said they can back their currency with assets and in ground assests as Shabibi said they can carry 5.00$ plus. lets not forget that on youtube you can find a video where Trump with the Japanese Prime Minister Abe talks about currencies all being on a level playing field. This means end of the Petro dollar as we are seing with Russia and China.....Middle East will be next!

[screwball]

12 hours ago, chris2028 said:

From what I am seeing, Kuwait is number 10 on the list. Now mind you these charts are showing the largest producers and consumers of oil around the world. US. is number one followed by Russia. Iraq is number 5. Based on 2021 Numbers

when Iraq release their true figures they will be No.2 if not 1

[screwball]

16 hours ago, edbeach said:

I don't understand how people can think this worthless dinar go up to $3.73 from a 1/6 of a penny due to revenue exceeding 150 billion this year I could see going 03 cents to 10 cents to start. Example look at the #1 producer of oil Saudia Arabia they expect to have revenue 327 billion this year. I don't see them increasing their rate to over 3.73 as some people are predicting about Iraq/ In fact their rate is equal to 27 cents and this is the number 1 oil producer in the world. something wrong with this picture people are trying to claim about Iraq. People need to rethink what they are saying and Saudia Arabia has been low for years and still #1 in the world.

well you wrong becaause all currencies will adjust with the end of the petro dollar.....and move to gold back currencies. Russia started it they have moved to sell oil and gas for ruble and their currency has gone up by 30% now they are backing their currrency with Gold and now China has said same, china very soon around June will move to Gold back yuan, and that will be the end of the USD.... all currencies will move to asset backed as per IMF. The United States will back theirs with Gold and Oil as well, the USD will do just nicely in the reset

[rvmydinar]

14 hours ago, chris2028 said:

From what I am seeing, Kuwait is number 10 on the list. Now mind you these charts are showing the largest producers and consumers of oil around the world. US. is number one followed by Russia. Iraq is number 5. Based on 2021 Numbers

Wow this is unbelievable. Kuwaiti is number #10 but they has the highest currency in the world above 3 bucks.

[rvmydinar]

2 hours ago, screwball said:

when Iraq release their true figures they will be No.2 if not 1

We can only hope for and we are still waiting for them to release their true rate. Can't imagine how high their currency will be. Can iraq's currency be at least the same as or higher than kuwaiti dinar?

[rvmydinar]

2 hours ago, screwball said:

exactly.....because under a reset and move to gold and asset backed currency as per IMF have said they can back their currency with assets and in ground assests as Shabibi said they can carry 5.00$ plus. lets not forget that on youtube you can find a video where Trump with the Japanese Prime Minister Abe talks about currencies all being on a level playing field. This means end of the Petro dollar as we are seing with Russia and China.....Middle East will be next!

5 bucks? Hopefully, when the rate goes up that high 5 bucks, it isn't going to be a redenomination / LOP first, then raise up until reaching 5 bucks, that means our return on investment is only 5 folds and this isn't what we want it. What we want is a straight revaluation 5 bucks, not LOP first.

[jeepguy]

1 hour ago, rvmydinar said:

5 bucks? Hopefully, when the rate goes up that high 5 bucks, it isn't going to be a redenomination / LOP first, then raise up until reaching 5 bucks, that means our return on investment is only 5 folds and this isn't what we want it. What we want is a straight revaluation 5 bucks, not LOP first.

man they can have that 5 dollar end result !

let this crap hit 1.oo  per dinar and i`m retired and out fast as hell !

[rvmydinar]

45 minutes ago, jeepguy said:

man they can have that 5 dollar end result !

let this crap hit 1.oo  per dinar and i`m retired and out fast as hell !

I can live with that rate a buck too and run to the bank and never look back forever. A buck isn't a bad rate.

[yota691]

An Iraqi official expects his country's revenues to exceed 150 billion dollars this year

Mazhar Muhammad Salih, Financial Adviser to the Prime Minister

 May 05 2022 09:35 PM

Mubasher: The financial advisor to the Prime Minister, Mazhar Muhammad Salih, expected today, Thursday, that Iraq’s revenues this year would exceed $150 billion .

Saleh told the Iraqi News Agency (INA), that the International Monetary Fund's reading and expectation of a jump in Iraq's public revenues during the current year 2022 focuses on the total oil and non-oil public revenues of federal Iraq.

He added, that the Fund may have estimated the average daily exports of crude oil at 3.4 million barrels per day, with an average annual price of 104 dollars per barrel exported from oil or more, with non-oil revenues of no less than 8-10 billion dollars.

He continued, "If the revenues of the Kurdistan region are added to the oil and the other, the total federal revenues can easily exceed 150 billion dollars at the end of the 2022 fiscal year . "

The International Monetary Fund expected, earlier, that Iraq would achieve a jump in its public revenues during the year 2022 after the rise in oil prices, amounting to 149 billion dollars and an annual change rate of 73 percent from the year 2021.

[yota691]

A proposal to allocate 10 percent of oil revenues for the development and reconstruction of the provinces

Sunday 08 May 2022 97

 

 Baghdad: Farah Al-Khafaf 

  A financial expert suggested allocating 10 percent of the revenues from selling Iraqi crude oil to development and reconstruction in the provinces. This came at a time when the financial advisor to the Prime Minister, Mazhar Muhammad Salih, expected that Iraq's revenues during the current year would exceed 150 billion dollars. The expert, Thamer Al-Azzawi, told Al-Sabah. : “The rise in selling prices of crude oil is an important opportunity to invest the financial surplus in the implementation of strategic projects.” He stressed, "the need to allocate a percentage, such as 10 percent of the total revenues for the development and reconstruction sector," proposing that "a higher reconstruction council be formed to allocate funds and identify projects."

 

Al-Azzawi continued: "The funds can be directed to the reconstruction and development of two governorates each year, with the continuation of services in the other governorates, and thus all governorates will witness an urban and development renaissance in less than eight years."

Meanwhile, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, expected that Iraq's revenues this year would exceed $150 billion.

Saleh said in a statement carried by the Iraqi News Agency and followed by "Al-Sabah": "The reading of the International Monetary Fund and its expectation of a jump in Iraq's public revenues during the current year 2022, focuses on the total oil and non-oil public revenues of the federal Iraq."

 

average exports

He added, "The fund may have estimated the average daily exports of crude oil at 3.4 million barrels per day, with an average annual price of $104 per barrel of oil exported or more, with non-oil revenues of no less than $8-10 billion."

He continued, "If the Kurdistan region's oil revenues and others are added, the total federal revenues could easily exceed $150 billion at the end of the 2022 fiscal year."

The International Monetary Fund expected, earlier, that Iraq would achieve a jump in its public revenues during the year 2022 after the rise in oil prices, amounting to 149 billion dollars and an annual change rate of 73 percent from the year 2021.

 

European Union

In the same context, oil prices rose yesterday at the close, ignoring concerns about global economic growth, as the imminent European Union sanctions on Russian oil increased the possibility of a supply shortage. Brent crude futures rose $2.08, or 1.88%, to $112.98 a barrel.

US West Texas Intermediate crude futures jumped $2, or 1.85 percent, to settle at $110.26 a barrel.

And the Ministry of Oil announced that "the ministerial meeting of the oil-exporting countries (OPEC) and the producing countries from outside it, decided to maintain its previous strategy regarding restricting production without change."

production levels

Undersecretary Hamid Younis, who headed the Iraqi side in the meetings of OPEC and OPEC Plus, and the ministerial committee for monitoring production via video, said: "The meetings concluded to keep the previously established production levels unchanged, and to proceed with the (OPEC Plus) plan towards gradual increases only. The timetable for the strategy that was approved last year, which aims to achieve a balance between supply and demand and according to the requirements and needs of the global oil market, which faces many challenges that affect its stability.

For his part, the ministry’s spokesman, Assem Jihad, confirmed that “(OPEC Plus) and the research and specialized bodies in the organization will monitor developments in the global oil market during the next stage, as they are every time, by preparing technical reports and recommendations for ministerial meetings, as they are dealt with. realistically with the market, according to the variables by the producers, and in a manner that leads to more stability and the required balance.”

Jihad stressed that "the (OPEC Plus) strategy includes increasing production at a rate of (432 thousand barrels) per day during next June, and that this increase will be divided among the producing countries according to the previously approved production rates."

 

Graph

And the economist Haider Kazem Al-Baghdadi expected, “The demand and prices for crude oil will continue to rise to limits that were not in the accounts of experts and specialists regarding it, although the graph is witnessing fluctuations between rise and decline, but the final result indicates a rise due to the confused situation of the outbreak of Covid-19, where we find There are cities that still suffer continuous closures, others double the preventive measures and partial closures, and a third goes by ending preventive measures, and this situation leads to fluctuations in prices, but most countries in the world have lost a lot of their strategic reserves, and this is heading for crude prices in global markets to 

Height.

 

global industries

And he indicated that "the growth movement, whose paths are now rising, to compensate for the losses of the past period," and that "many economic blocs around the world declined in their industries due to the closure that lasted for long periods that were not in their accounts and development plans, which confused the scene for most economies that are now heading to compensate for the consequences." Therefore, global industries are gradually growing at a time when everyone is committed to the prevention of Covid-19 mutants, and the accelerating global events and tensions witnessed in some regions of the world result in a rise in demand for crude oil, which leads to a continuous rise in crude oil prices. .

[6ly410]

Iraq Revenues to Exceed $150 Billion

https://www.iraq-businessnews.com/2022/05/09/iraq-revenues-to-exceed-150-billion/

9th May 2022 in Iraq Oil & Gas News

By John Lee.

A financial advisor to the Iraqi Prime Minister has said he expects Iraq's revenues this year to exceed $150 billion.

Speaking to the state-controlled Iraqi News Agency (INA), Mudhar Muhammad Salih said sustained high oil prices, combined with non-oil revenues of "no less than $8-10 billion", will result in total revenues for whole of Iraq (including the Kurdistan Region) of at least $150 billion.

His estimates were based on IMF assumptions, including an average oil price of  $104, and daily exports of crude oil from the Baghdad-controlled region of 3.4 million barrels per day.

(Source: INA)

[yota691]

Finance presents a detailed report on its expectations for 2022

2022.06.03 - 14:43

 

Baghdad - people  

The Ministry of Finance presented its economic review for the last period, and its forecasts for 2022.  

  

 

The ministry’s expectations are consistent with the outlook of the International Monetary Fund, which issued on the tenth of May the first issue of the Economic Monitor for Iraq, with an optimistic outlook supported by economic and financial indicators, in addition to the latest expectations of the International Monetary Fund for the Iraqi economy.  

  

The ministry's report included information, analysis and expectations regarding "oil prices, Iraqi government revenues, financial stability, economic activity, food price increases, inflation, and Iraq's debt situation."  

  

To view the full details and content of the study, click here

[yota691]

The Ministry of Finance: Confidence in the banking system has been strengthened by the recovery of foreign currency reserves

2022.06.03 - 14:48

 

  

Baghdad - people  

The Ministry of Finance said, on Friday, that confidence in the banking system was strengthened during the last period, due to the recovery in foreign currency reserves at the Central Bank, noting that the decrease in the price of the local currency spared Iraq many risks.  

 

  

The ministry stated in a study, seen by "Nass" (June 3, 2022), that "the recovery in foreign currency reserves with the Central Bank, the stability of the Iraqi dinar exchange rate, and the stability and stability of financial policy led to an enhancement of confidence in the Iraqi banking system."  

  

She pointed out that "the increase in confidence in the banking system can be observed by the private sector (companies and individuals), as deposits and loans have strongly increased, as recent data indicate."  

  

The ministry pointed out that "Iraq's directed devaluation of its currency avoids risks because the forced currency cuts confuse people's confidence in the banking system, and lead to hoarding cash and withdrawing deposits, which puts pressure on the banking system."  

  

[yota691]

Iraq is the second country in the world in economic growth during 2022

• Time : 06/03/2022 13:30:16
•  
• Reading: 1,443 times

  

 

{Economic: Al Furat News} Forecasts prepared in April 2022 showed that the global economy this year is expected to grow by 3.6%, and this comes in light of the pressures it is facing.

And Statista, citing data from FMI and the World Economic Outlook, identified ten economies in the world that are expected to grow at the highest pace in 2022, and the list included 3 Arab countries.

According to a graph by "Statista", a German company specializing in market and consumer data, the Iraqi economy will grow at a rate of 9.5% this year and will rank second in the list after Guyana, which will lead the world's economies in growth, as its economy is expected to grow by 47.2%.

In third place comes Kuwait (8.2%), then India (8.2%), followed by Saudi Arabia (7.6%), then Panama (7.5%), Niger (6.9%), then the Philippines (6.5%), Falcongo (6.4%), And then Bangladesh (6.4%).

[6ly410]

Global economic data: Iraq ranks high in the list of the most developed countries in the world

Posted 24 seconds ago

 

بيانات اقتصادية عالمية: العراق يسجل مرتبة متقدمة بقائمة أكثر الدول نمواً بالعالم - اخبار العراق (iraqakhbar-com.translate.goog)

 

news source /Iraq Today Agency

Baghdad - Iraq today:

Forecasts prepared in the month of April 2022 revealed a growth of 3.6% in the world, and this comes in light of the pressures it is facing, while expectations showed that Iraq will occupy advanced ranks in the list.

And Statista, citing data from FMI and the World Economic Outlook, identified ten economies in the world that are expected to grow at the highest pace in 2022, and the list included 3 Arab countries.

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According to a graph by "Statista", a German company specializing in market and consumer data, the Iraqi economy will grow at a rate of 9.5% this year and will rank second in the list after Guyana, which will lead the world's economies in growth, as its economy is expected to grow by 47.2%.

In third place comes Kuwait (8.2%), then India (8.2%), followed by Saudi Arabia (7.6%), then Panama (7.5%), Niger (6.9%), then the Philippines (6.5%), Falcongo (6.4%), And then Bangladesh (6.4%).

 

[rvmydinar]

Eventhough the iraqi economy grow at 9.5% , however the rate is still stable at 1,460 and the corruption still goes on and on. And the dinar investors are still waiting and waiting and waiting until what year?

[horsesoldier]

19 flipping flopping years of this !!! Been expecting a JUMP in my bank 🏦 account and all we get is expectations and all sorts of verbal diarrhea concerning Iraq.

I can't help but laugh at how ludicrous this has become

[yota691]

Iraq Is The Second.. A Report Identifies 10 Economies That Will Grow At The Highest Pace In 2022

03/06/2022

41

 

Earth News/ Forecasts prepared in April 2022 showed that the global economy this year is expected to grow by 3.6%, and this comes in light of the pressures it is facing.

And Statista, citing data from FMI and the World Economic Outlook, identified ten economies in the world that are expected to grow at the highest pace in 2022, and the list included 3 Arab countries.

According to a graph by "Statista", a German company specializing in market and consumer data, the Iraqi economy will grow at a rate of 9.5% this year and will rank second in the list after Guyana, which will lead the world's economies in growth, as its economy is expected to grow by 47.2%.

In third place comes Kuwait (8.2%), then India (8.2%), followed by Saudi Arabia (7.6%), then Panama (7.5%), Niger (6.9%), then the Philippines (6.5%), Falcongo (6.4%), And then Bangladesh (6.4%).

[yota691]

 

World Bank: Electricity shortage in Iraq limits the growth of the non-oil sector

 

 2022-06-08 02:22

 

Shafaq News/ The World Bank confirmed that the lack of electricity in Iraq limits the growth of the non-oil sector, expecting the country's gross domestic product to grow to 8.8 in the current year 2022.

The bank said in a report for the month of June, seen by Shafak News Agency, that "it is expected that the GDP growth in Iraq will reach 8.8% in 2022, driven by the recovery in the oil sector with the gradual lifting of restrictions on production decided by OPEC +."

He added, however, that "the lack of electricity supply, exacerbated by the imbalances in energy imports and the limitations of absorptive capacity, leads to limiting the growth of the non-oil sector."

He pointed out that "Iraq is expected to witness the highest growth in GDP during 2022 for the Arab countries and Iran, at 8.8%, followed by Saudi Arabia with a growth rate of 7%, and then Egypt with 6.1%," noting that "the GDP growth in Iraq will decrease In 2023, it will reach 4.5%, while the highest GDP growth in the region in this period will be for Djibouti, at a rate of 5.2, followed by Egypt at 4.8%, and the GDP growth of Iraq for the year 2024 will decrease to 3%, similar to the rest of the countries in the region.

Iraq suffers from a continuous crisis of power outages despite spending millions of dollars on this sector as a result of rampant corruption in this file, while it is currently importing gas from Iran to feed power stations, which led to the accumulation of debts on Iraq while Iran threatens from time to time By cutting off the gas unless it pays its dues from the supplied gas.