Newshound Dinar Guru Pimpy: I’m monitoring what’s happening in Iraq, but that’s about it. I’m hopeful that there will be development in Iraq once the budget is passed and they start allocating money. That’s what I’m looking for.
95% of the budget is financed through the sale of oil. What happens if the oil is sold in the tank? Then Iraq is back to exactly where they were when they went bankrupt. They need to pass a budget so that these projections can be financed, and they can find alternative ways to generate fees and not rely so much on oil. As long as everything is done by the book, that shouldn’t be hard. But…projects…are sitting there waiting for money so they can continue… (Newshound Guru Pimpy) Click on Pimpy for more