The appearance of Muhammad Salih to / NINA /: The surplus oil price revenues will go towards achieving economic and social well-being

Tuesday 26 October 2021 10:47
 
Baghdad / NINA / - Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed that: the surplus oil price revenues will tend to achieve economic and social prosperity.

He told the National Iraqi News Agency ( NINA ) that: The general budget in 2022 will achieve a surplus, especially if the average annual oil barrel increases to be at least 75 dollars.

Saleh added: This surplus will be directed in two directions, the first: building a precautionary financial account called the “budget stability account,” which is the government’s foreign reserve to counter the fluctuations of public budget revenues in the coming years, and it is called the “budget stability fund to achieve financial sustainability.”

He continued: As for the other side, the financial surplus will be spent on investment projects, especially faltering income-generating projects that maximize the added value, which absorb the momentum of unemployment and help raise growth in the gross domestic product by no less than 5% or double the annual growth of the country's population in a manner that achieves the minimum limits of economic and social welfare. ./finished 3

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