The Minister of Finance reveals a huge amount spent on Iraq's electricity in only 7 years!
- Time: 09/03/2021 11:32:09
- Reading: 2,171 times
[You must be registered and logged in to see this image.]
{Economic: Al Furat News} Finance Minister Ali Abdul Amir Allawi revealed that $120 billion was spent on electricity in Iraq in seven years.
Allawi said in an article published in the British Guardian newspaper, “It is estimated that poverty rates in Iraq doubled in 2020 and this is largely due to the decline in Iraq’s oil revenues, as prices fell globally due to the collapse in demand caused by the epidemic,” noting that “No We can allow the livelihoods of millions of families to continue to be dictated by the unpredictable fluctuations of the oil market."
He explained that "correcting this matter will require policies and investments that will enable oil and gas producing countries such as Iraq to direct capital and labor to productive industries in the future and contribute to empowering and stimulating the role of the private sector. In fact, this was one of the main motives behind the white paper for economic reform, which seeks To fundamentally change the nature of the Iraqi economy, allow the private sector to play a greater role, reduce Iraq’s dependence on oil exports and commit to economic renewal focused on environmentally sound policies and technologies.
Allawi added, "Iraq can play an important role by taking advantage of the huge potential to produce and provide clean energy, as oil and gas production constitutes up to 40% of total greenhouse gas emissions and the continuous burning of natural gas in oil wells, which necessitates us Commitment to reduce gas flaring and its investment.
He stressed that "increasing energy efficiency will have other benefits as well, and this means that we will not need to spend huge amounts to increase the general level of electricity provision, and that Iraq's inability to provide enough electricity to meet demand has cost the country nearly $120 billion over the seven years." past".
He pointed out that "increasing energy efficiency will allow creating job opportunities in areas such as building and maintaining energy-efficient green buildings, as a recently published International Energy Agency report showed that for every $1 million invested in energy efficiency, up to 30 jobs are created, and that this matter It is very important in a country like Iraq, which is witnessing huge population increases that will need job opportunities in the future."
He continued: "The worst potential solar sites in Iraq get up to 60% of direct energy from the sun, and that this percentage is higher than the best sites in Germany but with that, the solar power plants built by Germany so far provide two and a half times of Electric power for all oil, gas and hydroelectric plants operating in Iraq combined.
He noted: "In order for Iraq to move towards clean energy, it needs financial resources, expertise and policies that will transform its economy in an equitable and affordable manner, and this requires international support. Otherwise, moving towards net carbon dioxide emissions to zero by 2050 will be a distant dream." attainable.”
[You must be registered and logged in to see this link.]
{Economic: Al Furat News} Finance Minister Ali Abdul Amir Allawi revealed that $120 billion was spent on electricity in Iraq in seven years.
Allawi said in an article published in the British Guardian newspaper, “It is estimated that poverty rates in Iraq doubled in 2020 and this is largely due to the decline in Iraq’s oil revenues, as prices fell globally due to the collapse in demand caused by the epidemic,” noting that “No We can allow the livelihoods of millions of families to continue to be dictated by the unpredictable fluctuations of the oil market."
He explained that "correcting this matter will require policies and investments that will enable oil and gas producing countries such as Iraq to direct capital and labor to productive industries in the future and contribute to empowering and stimulating the role of the private sector. In fact, this was one of the main motives behind the white paper for economic reform, which seeks To fundamentally change the nature of the Iraqi economy, allow the private sector to play a greater role, reduce Iraq’s dependence on oil exports and commit to economic renewal focused on environmentally sound policies and technologies.
Allawi added, "Iraq can play an important role by taking advantage of the huge potential to produce and provide clean energy, as oil and gas production constitutes up to 40% of total greenhouse gas emissions and the continuous burning of natural gas in oil wells, which necessitates us Commitment to reduce gas flaring and its investment.
He stressed that "increasing energy efficiency will have other benefits as well, and this means that we will not need to spend huge amounts to increase the general level of electricity provision, and that Iraq's inability to provide enough electricity to meet demand has cost the country nearly $120 billion over the seven years." past".
He pointed out that "increasing energy efficiency will allow creating job opportunities in areas such as building and maintaining energy-efficient green buildings, as a recently published International Energy Agency report showed that for every $1 million invested in energy efficiency, up to 30 jobs are created, and that this matter It is very important in a country like Iraq, which is witnessing huge population increases that will need job opportunities in the future."
He continued: "The worst potential solar sites in Iraq get up to 60% of direct energy from the sun, and that this percentage is higher than the best sites in Germany but with that, the solar power plants built by Germany so far provide two and a half times of Electric power for all oil, gas and hydroelectric plants operating in Iraq combined.
He noted: "In order for Iraq to move towards clean energy, it needs financial resources, expertise and policies that will transform its economy in an equitable and affordable manner, and this requires international support. Otherwise, moving towards net carbon dioxide emissions to zero by 2050 will be a distant dream." attainable.”
[You must be registered and logged in to see this link.]
Today at 3:30 pm by Bama Diva
» Fix Social Security With Ownership, Not More Government
Today at 3:27 pm by Bama Diva
» utube MM&C 5/14/24 Iraq Dinar - IQD Update - UN Chapter VII - $3 Billion Revenue - Trade Minister -
Today at 7:05 am by Rocky
» utube 5/16/24 MM&C Al-Sudani - Political Week - Progress Internationally
Today at 7:04 am by Rocky
» Al-Sudani issues directives to develop TBI Bank, including increasing branches, simplifying services
Today at 7:02 am by Rocky
» Al-Sudani issues directives to develop TBI Bank, including increasing branches, simplifying services
Today at 6:59 am by Rocky
» Al-Sudani: We are in the year 2024, and this service reality cannot be accepted in Baghdad
Today at 6:57 am by Rocky
» A deputy accuses Kurdish parties of trying to steal the salaries of the region's employees
Today at 6:51 am by Rocky
» A parliamentary committee calls for accelerating the inclusion of the Intellectual Property Protecti
Today at 6:50 am by Rocky
» Iraq sells nearly 300 million dollars at a currency auction
Today at 6:45 am by Rocky
» The Central Markets Company participates in the Babylon Comprehensive Shopping Exhibition
Today at 6:43 am by Rocky
» The launch of the activities of the Iraq International Real Estate and Investment Exhibition in its
Today at 6:42 am by Rocky
» Al-Sudani receives Iraq's permanent representative to UNESCO
Today at 6:40 am by Rocky
» The Minister of Planning discusses with the Chargé d'Affairs of the Japanese Embassy the mechanisms
Today at 6:39 am by Rocky
» Sudanese Advisor: The reform process will begin with the government banking sector, which represents
Today at 6:35 am by Rocky
» Everything you need to know about the "Bahrain Summit"
Today at 6:32 am by Rocky
» With the participation of Iraq...the start of the 33rd session of the Arab Summit in Bahrain
Today at 6:31 am by Rocky
» Why does Al-Halbousi support a figure from outside Anbar? ..a politician answers
Today at 5:19 am by Rocky
» Coin auction today, Thursday / schedule
Today at 5:18 am by Rocky
» A deputy identifies 4 positives of the “Al-Faw Refinery” project
Today at 5:17 am by Rocky
» Al-Halbousi and the Anbar leadership complex
Today at 5:16 am by Rocky
» A deputy reveals the content of an important circular about state real estate
Today at 5:15 am by Rocky
» “Most of them are not developed.” What is the secret of Chinese companies’ monopolization of oil con
Today at 5:13 am by Rocky
» Al-Allaq announces the success of the electronic transfer platform in combating money laundering
Today at 5:11 am by Rocky
» The Iraqi judiciary accepts the appeal to suspend Kurdistan election procedures.. Document
Today at 5:10 am by Rocky
» The Prime Minister receives the Vice President of the World Bank for the Middle East and North Afric
Today at 5:08 am by Rocky
» The Minister of Electricity and the US Assistant Secretary of State discuss accelerating the impleme
Today at 5:06 am by Rocky
» Implementing the electronic automation system (ASYCUDA) in the central and southern port of Umm Qasr
Today at 5:05 am by Rocky
» Resources: Water storage is much better than 2023
Today at 5:04 am by Rocky
» Iraq intends to launch a new mechanism for paying tickets for mass transit lines
Today at 5:03 am by Rocky
» Including gas investment in 5 oil fields...Total's contracts in Iraq are detailed to Al-Iqtisad News
Today at 5:02 am by Rocky
» Iraq conveys a “negative” image of corruption.. How does it affect the budget deficit?
Today at 5:01 am by Rocky
» Al-Sudani: There is no stalled project in the current government’s dictionary
Today at 5:00 am by Rocky
» We welcome the transformation of the Fifth Division into cultural and entertainment places
Today at 4:59 am by Rocky
» 300 mobile stations for issuing the unified card
Today at 4:58 am by Rocky
» The Minister of Planning chairs a meeting to review the budget schedules
Today at 4:56 am by Rocky
» The return of the displaced is a thorny issue that requires concerted efforts
Today at 4:55 am by Rocky
» 2026.. The first ship docks in the large port of Al-Faw
Today at 4:54 am by Rocky
» The Prime Minister's advisor calls for moving towards banking reform
Today at 4:53 am by Rocky
» Ahli Bank opens a branch in Basra
Today at 4:52 am by Rocky
» A license for brokerage companies to trade in shares on international stock exchanges
Today at 4:51 am by Rocky
» Wills for payment card holders
Today at 4:50 am by Rocky
» Consensus to activate investment activity in Iraq
Today at 4:49 am by Rocky
» In the document... the judiciary accepts the appeal to suspend the technical and financial procedure
Today at 4:47 am by Rocky
» Al-Sudani directs a number of measures to develop the work of the “TBI”
Today at 4:46 am by Rocky
» The Minister of Interior grants advancement and compensation to officers and members of the Najaf Po
Today at 4:44 am by Rocky
» Iraq participates in the Arab Forum for Anti-Corruption Bodies and Financial Investigation Units
Today at 4:43 am by Rocky
» Kurdistan Finance begins preparing lists of promotions in preparation for sending them to Baghdad
Today at 4:41 am by Rocky
» The Supreme Judiciary directs the courts to resolve pending state real estate lawsuits
Today at 4:40 am by Rocky
» President Rashid: There is no Iranian military interference in Iraqi affairs
Today at 4:38 am by Rocky
» Iraq's ports are under surveillance... Parliament reveals new measures to prevent smuggling
Today at 4:36 am by Rocky
» Inflation data boosts interest rate cut expectations and weakens the dollar
Today at 4:35 am by Rocky
» Introducing domestic oil and electricity sales into the budget.. An expert explains the pros and con
Today at 4:34 am by Rocky
» Barzani is in Baghdad to negotiate the budget and elections
Today at 4:31 am by Rocky
» Signing the contract for the Al-Faw refinery project
Today at 4:29 am by Rocky
» “Most of them are not developed.” What is the secret of Chinese companies’ monopolization of oil con
Today at 4:28 am by Rocky
» Al-Maliki’s coalition: Al-Mashhadani is “not nervous” and his method is “Arab without embellishment”
Today at 4:27 am by Rocky
» It is forbidden to move convoys without protection.. The Interior Ministry is preparing to transport
Today at 4:26 am by Rocky
» An American official is in Baghdad to supply Iraq with 3,000 megawatts of electricity
Today at 4:25 am by Rocky
» The Council of Ministers will discuss the budget schedules next Sunday
Today at 4:22 am by Rocky
» Jabbar Al-Luaibi sends a message to Al-Sudani regarding the licensing round for foreign companies
Today at 4:21 am by Rocky
» Government statistics: More than 38 million Iraqis have registered with the unified card project
Today at 4:20 am by Rocky
» Water Resources announces the use of modern irrigation techniques to irrigate 900 dunums in Karbala
Today at 4:19 am by Rocky
» Government directives to implement special procedures to develop the work of the Iraqi Trade Bank
Today at 4:17 am by Rocky
» Iraq is participating in it, and world stars are losing followers.. What is the story of the campaig
Today at 4:16 am by Rocky
» Real estate in Iraq is only for the rich and the prices are astronomical
Today at 4:15 am by Rocky
» Human Rights Center: 85 mass graves are still unopened in Iraq
Today at 4:13 am by Rocky
» Using the phone... Transport announces the imminent launch of a new mechanism for paying tickets for
Today at 4:12 am by Rocky
» Judge Hanoun: Corruption causes a decline in investment rates and the general budget deficit
Today at 4:11 am by Rocky
» President Rashid: The relationship with Iran is historic and strong, and some of the accusations aga
Today at 4:09 am by Rocky
» Parliamentary bloc: The Emirati and Jordanian banks in Iraq have an Arab facade and Zionist backgrou
Today at 4:07 am by Rocky
» Announcing the end of the period of prosperity.. The Baghdad dollar rises again
Today at 4:06 am by Rocky
» Al-Alaq: Our procedures using the external transfer platform prevented money laundering operations
Today at 4:05 am by Rocky
» utube 5/15/24 Iraqi Dinar | PM Al Sudani's Return: Unveiling Iraq's Metal Coins
Yesterday at 9:27 am by Rocky
» The President of the Republic: Iraq is facing a new stage and horizons of growth and economic develo
Yesterday at 7:08 am by Rocky
» Blinken's assistant is in Baghdad to follow up on the outcomes of Al-Sudani's visit to Washington
Yesterday at 7:06 am by Rocky
» Basra.. Re-establishing a border reinforcement deep inside Iran to create the “best” ports in Iraq
Yesterday at 7:04 am by Rocky
» New policies may push Iraq to add 75 thousand barrels of oil per day to its OPEC quota
Yesterday at 7:00 am by Rocky
» Al-Sudani calls on American companies to work and invest in Iraq
Yesterday at 6:59 am by Rocky
» Securities: We are studying the possibility of licensing brokerage companies to trade in shares on i
Yesterday at 6:53 am by Rocky
» It will limit smuggling... Economic praise for the decision to raise oil prices at local refineries
Yesterday at 6:51 am by Rocky
» A government meeting to review the 2024 budget schedules
Yesterday at 6:50 am by Rocky
» Baghdad.. Severe imprisonment for convicts who took sums of money in exchange for promises of appoin
Yesterday at 6:49 am by Rocky
» Iraq confirms its keenness to achieve energy self-sufficiency
Yesterday at 6:48 am by Rocky
» According to an American newspaper, Biden calls on Arab countries to deploy peace forces in Gaza
Yesterday at 6:45 am by Rocky
» Severe imprisonment for convicts who took sums of money from citizens in exchange for promises of ap
Yesterday at 6:40 am by Rocky
» The Minister of Planning chairs a ministerial meeting to review the budget schedules
Yesterday at 6:38 am by Rocky
» Al-Sudani: The Al-Faw Integrated Refinery Project is one of the important economic projects for the
Yesterday at 6:37 am by Rocky
» Al-Sudani told an American official: The government is proceeding with economic and financial reform
Yesterday at 6:35 am by Rocky
» The President of the Republic receives the Vice President of the World Bank for the Middle East and
Yesterday at 6:33 am by Rocky
» He called for military intervention in Iraq and was the most prominent supporter of Israel.. Who is
Yesterday at 6:31 am by Rocky
» A ministerial meeting to discuss the mechanism for transferring the region’s budget allocations
Yesterday at 6:29 am by Rocky
» The American Ambassador: We can help the Iraqis by providing electricity around the clock
Yesterday at 5:32 am by Rocky
» Jordan National Bank denies its acquisition of the currency auction in Iraq
Yesterday at 5:29 am by Rocky
» Al-Maliki's coalition confirms: Al-Mashhadani will be Speaker of Parliament in Saturday's session
Yesterday at 5:27 am by Rocky
» Resistance factions give Sudanese time to resolve the foreign presence
Yesterday at 5:26 am by Rocky
» Holding Sudanese responsible... A security expert talks about selling security positions
Yesterday at 5:25 am by Rocky
» Central Bank auction today, Wednesday / schedule
Yesterday at 5:23 am by Rocky
» Collecting the signatures of 60 representatives to replace the American ambassador to Iraq
Yesterday at 5:22 am by Rocky