Archives Financial sphere - New Eastern Outlook
16.09.2023 Viktor Mikhin

After months of political negotiations and four days of voting, Iraq’s parliament has finally approved the largest budget in the country’s history. The draft bill for the 2023 document was initially approved by the cabinet and received the green light from the legislature in June 2023. Experts believe that the planning and swift approval of this financial plan represents a telling achievement of the country’s current administration. The adopted budget amounts to a staggering 198.91 trillion Iraqi dinars, equivalent to US $153 billion. However, it has a deficit of 64.36 trillion dinars. Projected oil revenues are estimated at 117.25 trillion dinars…

08.07.2023 Viktor Mikhin
dollar

The dominance of the US dollar in the global economy continues to wane quietly but relentlessly as many countries actively seek other currencies. First and foremost, they are the BRICS nations of Russia, China, India, Brazil, and South Africa. Although it appeared to be only a few countries, the total population is over 3.23 billion, accounting for more than 40% of the world’s population.  Between 2000 and 2026, the BRICS population is expected to grow by 625 million people, most of them in India and China.  By 2020, the BRICS countries’ total GDP was 25% of the global (21 trillion dollars), and their share in international trade was about 20% (6.7 trillion dollars)…

23.11.2022 Phil Butler

Scarcity and who is getting rich from it is the only geopolitical question that matters today. The proxy military actions in Ukraine are all over the news. Of course, it is. Death, destruction, and war machines have always been popular entertainment. The real war, the battle waged by the elites on us all, is the important story that’s never told. Here, fellow citizens of Earth...