After the rise in oil, specialists call for activating the productive sectors and supporting the fra

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[size=52]After the rise in oil, specialists call for activating the productive sectors and supporting the fragile classes[/size]

[size=45]Specialists in economic affairs stressed the need to activate the productive sectors of agriculture, industry and tourism and not to rely entirely on oil, while calling on the government to support the poor classes, especially after the rise in oil prices and the achievement of high revenues from them.[/size]
[size=45]SOMO had announced achieving the highest export rate in two years, last February, at a rate of 3.314 million barrels per day, an increase of 112,000 barrels per day over the previous month, and the highest financial revenue since 2014 at an amount of 8.54 billion dollars per month.[/size]
[size=45]The economic expert, Dia Al-Mohsen, called on the government to “support the poor and fragile classes, especially after the rise in oil prices,” noting that “the problem is not related to the increase in oil revenues, but rather in the sources of disbursement of these increases.”[/size]
[size=45]Al-Mohsen added, "The financial abundance, even if it is achieved, the hypothetical deficit still exists in the budget," adding that "there are unjustified expenses that are covered through that abundance produced by oil revenues."[/size]
[size=45]And he added, "The United States of America is pressing for a ban on the import of Russian oil due to the crisis between Russia and Ukraine," expecting "a rise in oil prices in the global market as a result of an imbalance between supply and demand."[/size]
[size=45]He pointed out that "the interest of the Iraqi economy depends a lot on the increase in oil revenues," noting that "the problem is not related to the increase in oil revenues, but rather in the sources of disbursement of these increases."[/size]
[size=45]He called on the government to "send a request to Parliament to grant it the authority to send the investment budget for 2022."[/size]
[size=45]Yesterday, Tuesday, the Ministry of Oil announced the total oil exports and revenues achieved for the month of last March, and while it indicated that it had achieved revenues of more than 10 billion dollars, it confirmed that it had exported more than 99 million barrels from oil fields in the center, south and Kirkuk governorate.[/size]
[size=45]The ministry stated in a statement that “according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO), the amount of crude oil exports amounted to (100) million and (579) thousand and (612) barrels, with revenues of (10) billion and (913) ) million and (197) thousand dollars.”[/size]
[size=45]The ministry added that “the total quantities exported of crude oil for the month of last March from oil fields in central and southern Iraq amounted to (99) million (130) thousand and (677) barrels, while the quantities exported of Kirkuk oil through the port of Ceyhan were (1) million. and (448) thousand and (935) barrels,” indicating that “the average price per barrel amounted to (108.503) dollars.”[/size]
[size=45]In its statement, the ministry indicated that “additional revenues were achieved from the sale of quantities of shipments of exported crude oil at a price premium, as the total revenue amounted to 273,804.794 million dollars,” noting that “the exported quantities were loaded by (34) different international companies. Nationalities, from the southern ports and the monopoly buoys on the Gulf and the Turkish port of Ceyhan.”[/size]
[size=45]For his part, the adviser to the Association of Iraqi Banks, Samir Al-Nusairi, called for “the need to expedite the establishment of a sovereign fund (the Generation Fund) to protect the national economy in times of crisis or when prices are low.”[/size]
[size=45]Al-Nusairi added that "the rise in oil prices will, in turn, cancel the deficit in the 2022 budget, or it may be a very small deficit."[/size]
[size=45]He stressed "the necessity of activating the productive sectors, including agriculture and industry, and not relying entirely on oil.[/size]
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