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Al-Kazemi’s advisor expects to raise the price of a barrel of oil in the budget to $70

Rocky

Rocky: Admin Assist; Posts : 269366
Join date : 2012-12-21

Post n°1

Al-Kazemi’s advisor expects to raise the price of a barrel of oil in the budget to $70

by Rocky Sat 05 Mar 2022, 4:47 am

[size=36]Al-Kazemi’s advisor expects to raise the price of a barrel of oil in the budget to $70[/size]

Economie| 09:12 - 05/03/2022

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Baghdad - Mawazine News
, the economic advisor to the Prime Minister, Mazhar Muhammad Salih, considered, on Saturday, that the Russian war on Ukraine is a "historic opportunity" for Iraq to develop its industrial and agricultural sectors, while he expected to raise the price of a barrel of oil in the 2022 budget, to $70.

Saleh said in a statement to the official "Al-Sabah" newspaper, followed by Mawazine News, that "the Russian-Ukrainian war opened the opportunity for Iraq to develop its industrial and agricultural sectors," noting that "Iraq has two opportunities, the first of which is to benefit from the positive returns of the high oil prices in developing its investment, The second is that the gas and grain crisis should push us to develop our own capabilities.”

Saleh added, "The war today in the world is not far from Iraq, and it has positive effects that are in the financial interest of Iraq, due to the rise in oil revenues, in addition to the fact that OPEC may lift restrictions on the export of oil due to a shortage of energy," adding that "in return, there is Negative effects in Iraq, which depends for its food security on imports, especially grains, which rose by 30 percent.

Salih considered this war a "historic opportunity. The government must examine the possibility of what can be produced through high oil prices and harnessed for the benefit of the country's economic growth," noting that "Iraq is at a break-even point from these effects, but the benefits will be greater if the economic and administrative and financial matters are studied." correctly".

Saleh expected that "the price of a barrel of oil will change in this year's 2022 budget and may reach 70 (dollars), according to government estimates," calling for "

The economic advisor to the Prime Minister stressed "the need to start paying attention to the infrastructure of the energy sector, especially gas, and the development of associated gas and natural gas," saying: "It is time for the government to act decisively and give priority to this sector." Ended 29/N33

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