Economist to Nina: After the rise in oil prices, the price of a barrel should be $70 instead of $50 in the 2022 budget

Wednesday 13 October 2021 09:46
 
Baghdad / NINA / - The expert in economic affairs, Safwan Qusay, called on the makers of the federal budget for the year 2022 to reconsider the hypothetical price of a barrel of oil, which amounts to $50, to be $70.

Qusay said in a statement to the National Iraqi News Agency / NINA/ After Brent oil prices crossed the $80 barrier, it became clear that the federal budget deficit for the year 2021 of $20 billion had been fully covered, calling on the maker of the federal budget for 2022 to reconsider the hypothetical price of a barrel of oil of $50 as stated by the Ministry of Oil To be $70, this will allow building a budget that activates the investment movement in the infrastructure sector by activating the Chinese oil-for-projects agreement and the possibility of activating the same formula to deal with American and European multinational companies in order to rebuild the pharmaceutical, agricultural and technology sectors to create a financially stable environment through diversifying Sources of income.” And he

continued: We must move to the process of investing in creativity by rehabilitating research centers in all sectors to create a knowledge partner that invests Iraqi knowledge capabilities and re-markets them to be the most important source of income, even after a while./ End 8

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