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| Name | Iraqi Dinar News Today - The Four Key Factors Affecting Iraq's 2024 Budget and Beyond |
| Video Uploader | Video From Bobby King Iraqi Dinar |
| Upload Date | This Video Uploaded At 01-07-2024 12:42:28 |
| Video Discription | Iraqi Dinar News Today = The Four Key Factors Affecting Iraq's 2024 Budget and Beyond Welcome to another edition of "Iraqi Dinar News" with your host, Bobby King, reporting directly from Iraq. In today's video, we'll dive into the four critical factors that have or can affect the Iraqi dinar currency. Before we get started, don't forget to subscribe to my channel and support me to stay updated on all the latest developments. Now, let's get into it. The first factor is the '24 budget, which presents a significant issue for Iraq. According to the World Bank, Iraq needs an oil price of $90 per barrel to meet its budget requirements, yet the current oil price hovers around $80. This discrepancy boils down to how the World Bank reviews financial data versus Iraq's perspective. The second factor is job creation. Until 2014, Iraq almost always created jobs for college graduates, with a government career being a perceived benefit of living in an oil-rich country. One reason the budget is so large is that Iraq is budgeting for over 700,000 new government jobs. The third factor involves Iraq's dual exchange rates. The official rate is around 1310 dinars to $1, while the market rate fluctuates higher, around 1450 dinars to $1, causing issues and even protests. The market rate is what people deal with day-to-day. The US Federal Reserve has encouraged Iraq to rely more on the Iraqi dinar than the US dollar to avoid trouble with the US Federal Reserve and the Department of Treasury. As of January 1, 2024, all transactions are mandated to be conducted in Iraqi dinars, with the gap between the official exchange rate and the market rate expected to decrease, offering a sense of stability. Finally, the most concerning issue is related to oil revenues. All oil revenue paid to OPEC is in US dollars, with Iraq's oil revenue being received by the US Federal Reserve first and then allocated to Iraq. There are backroom talks over OPEC's future position, raising concerns for Iraq's financial safety, especially if the country wants to receive oil revenues in dinars. However, this could be one of the best steps to strengthen Iraq's currency. OPEC's power is being threatened from within, potentially leading to an uncomfortable situation for Iraq. Stay tuned as we explore these factors in detail, and make sure to like, comment, and subscribe for more updates. FAIR-USE COPYRIGHT DISCLAIMER Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, commenting, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational, or personal use tips the balance in favor of fair use. ------------------------------- MY DISCLAIMER ---------------------- I AM NOT A FINANCIAL ADVISOR. These videos are for Entertainment purposes only.@ What I or others say in My videos are of our OWN Opinions and should never be used as Financial Advice. Please do your own research and seek professional advice. ----------------------------------------------------------------------------------------- MY E-MAIL : asked67@hotmail.com https://www.facebook.com/profile.php?id=100089823656058&mibextid=ZbWKwL https://x.com/irfanawn678?t=GP_sMummY7cj9fWMUZaf6w&s=09 Iraqi Dinar News Update today | Iraqi Dinar latest news today Iraqi Dinar News Update Iraqi dinar rate Iraqi dinar latest news today Iraq RV Iraq Reform iraqi dinar update quick dinar updates iraqi dinar intel iraqidinar dinar guru updates #iraqidinar #iraqidinar2024 #bobbykingiraqidinarnews LM9c5WTDrms |
| Category | News & Politics |
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