Economist to / NINA /: The rise in oil prices will contribute to covering the budget deficit .. and the government should reconsider its economic plans

Sunday 26 September 2021 20:45
 
Baghdad / NINA / - An expert in the oil field, Safwan Qusay, confirmed that the rise in oil prices will contribute to covering the budget deficit of 29 trillion dinars.

He said in a statement to the National Iraqi News Agency / NINA / that the continuation of oil prices to exceed the $ 77 barrier will increase Iraq’s oil revenues, and allow covering the default deficit of 29 trillion dinars and maximizing the reserves of the Central Bank of Iraq and thus the possibility of reconsidering the support for fragile classes by increasing the number of those covered Social care and maximizing the vocabulary of the food basket.

He stressed the need to focus on rehabilitating the economic, financial, social, political and cultural sectors to transform into effective energy to create real job opportunities, calling for combating corruption by controlling the movement of money and goods and activating the looted funds recovery law that will contribute to strengthening Iraq's financial capabilities and operating the Iraq Reconstruction Fund, noting that These steps will raise confidence in the Iraqi economy and stimulate local, regional and international investments to head towards Iraq.” He

stressed that the next executive government should prepare various executive programs to restore confidence in all state agencies in terms of providing services, contributing to production, economic diversification, control, and heading towards partnership with multinational companies To rehabilitate Iraq away from internal and external conflicts, indicating that Iraq and the Iraqis deserve it. / End 8

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