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[size=36]The World Bank warns Iraq against relying entirely on oil[/size]
Economie| 09:39 - 12/29/2022
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Baghdad - Mawazine News
The World Bank warned Iraq against relying entirely on oil, pointing to the need to move towards other sectors.
"The World Bank does not have detailed information or analysis about the fluctuation of oil prices in conjunction with global changes, as a result of going to global economies that are less carbon-emitting," Salim Rouhana, official of sustainable development programs at the World Bank, said in an interview with the official newspaper, followed by Mawazine News.
Rouhana added, "The demand has begun to decrease for gas, as the world has begun to turn to it as a transformational source, and to replace it with clean energy such as the sun and air," noting that "the decrease in demand is matched by a decrease in the prices of petroleum materials, and therefore a country like Iraq that depends entirely on oil will decrease its revenues." the other too."
And he continued, "The Climate and Development Report, which was issued recently, confirmed that there is a huge amount of investments that Iraq must make in terms of adapting to climate change, such as water, agriculture, etc., and within the framework of the strategic shift to alternative energies such as sun and air in Iraq to more than 31% of production capacity." By 2040, and this requires a lot of investment, whether on the short or medium level.
Rouhana warned that in the event of "a decrease in oil revenues and a lack of direction towards these sectors that require investments during the near stage, there will be no opportunity to adapt and adapt to global changes." Ended 29/N33
The World Bank warned Iraq against relying entirely on oil, pointing to the need to move towards other sectors.
"The World Bank does not have detailed information or analysis about the fluctuation of oil prices in conjunction with global changes, as a result of going to global economies that are less carbon-emitting," Salim Rouhana, official of sustainable development programs at the World Bank, said in an interview with the official newspaper, followed by Mawazine News.
Rouhana added, "The demand has begun to decrease for gas, as the world has begun to turn to it as a transformational source, and to replace it with clean energy such as the sun and air," noting that "the decrease in demand is matched by a decrease in the prices of petroleum materials, and therefore a country like Iraq that depends entirely on oil will decrease its revenues." the other too."
And he continued, "The Climate and Development Report, which was issued recently, confirmed that there is a huge amount of investments that Iraq must make in terms of adapting to climate change, such as water, agriculture, etc., and within the framework of the strategic shift to alternative energies such as sun and air in Iraq to more than 31% of production capacity." By 2040, and this requires a lot of investment, whether on the short or medium level.
Rouhana warned that in the event of "a decrease in oil revenues and a lack of direction towards these sectors that require investments during the near stage, there will be no opportunity to adapt and adapt to global changes." Ended 29/N33
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