Report: A decrease in the price of oil in the budget, one dollar will cost Iraq 1.5 trillion dinars
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Views 126
Added 05/11/2023 - 7:14 PM
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
A report by the British (SLI) website confirmed, on Tuesday, that the decline in the price of a barrel of oil by one dollar within the price specified within the federal budget for Iraq will cost the country a decrease of 1.5 trillion Iraqi dinars annually.
The report stated that "the budget proposal calls for a total spending of 199 trillion dinars, consisting of current expenditures amounting to 149.6 trillion dinars and investment spending amounting to 49.5 trillion dinars, as revenues are expected to reach 134.6 trillion Iraqi dinars, consisting of oil revenues amounting to 117.3 trillion Iraqi dinars on The basis for exporting 3.5 million barrels per day, at an average price of $70 per barrel, in addition to non-oil revenues amounting to 17.3 trillion Iraqi dinars.
He added, "The resulting deficit of 64.5 trillion Iraqi dinars will be funded by 23 trillion Iraqi dinars from the account of the Ministry of Finance in the Central Bank of Iraq and about 10 trillion Iraqi dinars from continuous foreign funding for investment projects, which requires new local construction and borrowing 31.5 trillion dinars."
He continued, "The new Iraqi budget differs from its predecessors in three main points. First, it was conducted in consultation within the State Administration Coalition in the hope that it will be passed by the House of Representatives with minimal changes. The second is a proposal that the budget be for three years instead of one year to provide The political stability of the government during its tenure, and the third is that it contains a framework for addressing disputes between the federal authorities and the Kurdistan Regional Government regarding oil exports in a way that satisfies the ruling issued by the Federal Supreme Court for the year 2022 and provides for the Kurdistan Region of Iraq’s share of the budget.
He explained, "High oil prices in 2022, and medium-term expectations of higher oil prices provide the government with the flexibility to pursue its spending plans for 2023. However, these dynamics will change even when assuming that oil prices will continue to rise in 2024, and this scenario will be repeated in 2025." If oil prices are the same as assumed for 2024, but more domestic borrowing means the domestic debt stock could be 70-80 percent larger by the end of 2024 than it was at the end of 2022.
He pointed out that "the sensitivity of the budget to oil prices makes every decrease of one dollar per barrel in the annual average of Iraqi oil prices translate into a decrease in revenues of 1.5 trillion Iraqi dinars (assuming proven oil exports and the current exchange rate for dollars and thus a local increase in borrowing needs. On the other hand, Rising oil prices would change the picture for the better, but it would not change the trajectory of domestic debt to increase oil revenues, which, over time, would lead to the exclusion of other budget expenditures and reduce flexibility for future budget planning.
Views 126
Added 05/11/2023 - 7:14 PM
[You must be registered and logged in to see this link.]
Today at 7:00 am by Rocky
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
Today at 6:57 am by Rocky
» utube MM&C 5/11/24 Iraqi Dinar - IQD Update - International - IraqTiming - 2024 Budget Schedule - Sp
Today at 6:55 am by Rocky
» Bahr Al-Ulum calls for legislating the renewable energy law and localizing the solar panel industry
Today at 6:49 am by Rocky
» In numbers: the rise in internal debt in Iraq
Today at 6:49 am by Rocky
» Jordan demands that Iraq continue to export oil for another three months
Today at 6:46 am by Rocky
» Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun
Today at 6:44 am by Rocky
» Close to the coordination framework: There is no intention to change the internal regulations of Par
Today at 6:43 am by Rocky
» Central Bank sales exceed $274 million today
Today at 6:41 am by Rocky
» But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C
Today at 6:38 am by Rocky
» Jordan addresses Iraq to extend a memorandum of understanding to purchase oil
Today at 6:36 am by Rocky
» Bribes increased from 3,000 to 50,000 dollars.. What is the condition of alcohol in Iraq after the p
Today at 6:34 am by Rocky
» Presence movement: Sunnis and Kurds while the Americans remain in Iraq
Today at 5:31 am by Rocky
» A deputy reveals the contents of the first water strategy in Iraq
Today at 5:29 am by Rocky
» Soon...the second reading of the proposed red card law
Today at 5:28 am by Rocky
» The discovery of 10 new oil and gas fields in the Anbar desert
Today at 5:27 am by Rocky
» A bloc announces to “Al-Ma’louma” the date of the parliamentary speaker’s election session
Today at 5:26 am by Rocky
» Parliamentary Finance explains the mechanism for amending the retirement law
Today at 5:24 am by Rocky
» Sovereignty accuses Al-Halbousi of obstructing the election of a Speaker of Parliament
Today at 5:23 am by Rocky
» Parliamentary Agriculture accuses Kurdistan of harming the farmers of the center and south
Today at 5:22 am by Rocky
» Al-Sudani confirms Iraq's readiness to host the Arab Network conference
Today at 5:21 am by Rocky
» Nechirvan Barzani calls on the Iraqi government to allocate a budget to confront climate change
Today at 5:20 am by Rocky
» “Iraq is in danger.” Political warnings against ending the work of the UN mission
Today at 5:19 am by Rocky
» The Iraqi Interior Minister announces the signing of a security cooperation memorandum with Syria
Today at 5:17 am by Rocky
» The Minister of Oil told “Al-Iqtisad News”: The 5th and 6th rounds will add 3 Mqmq of gas to Iraq’s
Today at 5:16 am by Rocky
» Economist: Tax revenues from the private sector should be 4 trillion dinars annually
Today at 5:14 am by Rocky
» The Real Estate Bank calls on the Iraqi Central Bank to determine a plan to allocate a new initiativ
Today at 5:13 am by Rocky
» More than one billion and 400 million dollars...CBI sales within a week
Today at 5:12 am by Rocky
» Oil: Iraq achieved self-sufficiency in liquid gas and began exporting the surplus
Today at 5:10 am by Rocky
» Iraq begins exporting liquid gas
Today at 5:09 am by Rocky
» The Cabinet Secretariat sets to Al-Iqtisad News the completion date for the Chinese agreement school
Today at 5:09 am by Rocky
» Securities: The most recent law of the Authority in the Arab and regional countries
Today at 5:07 am by Rocky
» A European desire to strengthen security and economic cooperation with Baghdad
Today at 5:06 am by Rocky
» The close selection of a person for the position of Speaker of Parliament
Today at 5:05 am by Rocky
» Parliamentary law excludes the exchange of penalties for cash amounts
Today at 5:04 am by Rocky
» An agreement with Italy to finance industrial projects
Today at 5:02 am by Rocky
» The Najaf Chamber of Commerce signs a “memorandum of understanding” with its Thai counterpart
Today at 5:01 am by Rocky
» Baghdad, Arab Forum
Today at 5:00 am by Rocky
» Specialists: Economic integration and job opportunities await development
Today at 4:59 am by Rocky
» The President of the Republic, Nechirvan and Barzani stress the necessity of coordinating efforts be
Today at 4:57 am by Rocky
» The Judicial Institute announces the names of those accepted for the 48th and 49th sessions
Today at 4:56 am by Rocky
» Today's newspapers are interested in launching the fifth licensing supplement rounds and the sixth l
Today at 4:55 am by Rocky
» Al-Sudani receives the Secretary-General of the Arab Network for National Human Rights Institutions
Today at 4:53 am by Rocky
» Trade participates in the meetings of the Economic and Social Council at the level of senior officia
Today at 4:52 am by Rocky
» The Minister of Transport discusses with the Tunisian Minister of Foreign Affairs and Immigration wa
Today at 4:50 am by Rocky
» Iraq recorded an increase in its oil exports to the United States last week
Today at 4:49 am by Rocky
» It is governed by three dimensions.. Parliament talks about a strategic priority for Iraqi national
Today at 4:48 am by Rocky
» To what extent do Arab countries influence politically Iraq? It has become more independent
Today at 4:46 am by Rocky
» The Iranian ambassador in Baghdad: Iraq has paid its debts, and the security agreement includes thre
Today at 4:45 am by Rocky
» Dollar exchange rates decline slightly on the Baghdad Stock Exchange
Today at 4:44 am by Rocky
» China has 18% of the fields in the two new rounds, and 11 countries share the remainder
Today at 4:43 am by Rocky
» On the table...a proposal for the Kurdistan oil crisis and an effort to conclude a similar agreement
Today at 4:42 am by Rocky
» Al-Awadi: A government decision to provide sovereign guarantees and guarantees to encourage the inve
Today at 4:40 am by Rocky
» 6 Chinese companies are among the winners of developing Iraqi oil and gas fields
Today at 4:38 am by Rocky
» Baghdad gives UNAMI the end of 2025 to leave the country after fiery briefings
Today at 4:37 am by Rocky
» Dhi Qar clarifies: The quarry burying radioactive materials is regular and does not pose a danger
Today at 4:36 am by Rocky
» Al-Sudani: There are 64 lagging projects in Babylon
Today at 4:34 am by Rocky
» The housing crisis is expanding and planning confirms: Iraq needs 3 million housing units to solve i
Today at 4:34 am by Rocky
» 90 billion dinars were recovered from social protection violators
Today at 4:32 am by Rocky
» Iraq seeks to increase its oil reserves to more than 160 billion barrels
Today at 4:31 am by Rocky
» After keeping the numbers secret... Did the rain increase Iraq's water reserves by 120%?
Today at 4:30 am by Rocky
» In the first quarter of 2024.. Iran will displace Iraq and become the second largest producer in OPE
Today at 4:28 am by Rocky
» Iraqi oil exports to Jordan stopped 20 days ago
Today at 4:27 am by Rocky
» Iraq and Syria sign a memorandum of security cooperation in several fields
Today at 4:25 am by Rocky
» Parliament recommends stopping electronic schools in Iraq
Today at 4:24 am by Rocky
» Parliamentary law rules out passing a law replacing penalties with sums of money
Today at 4:22 am by Rocky
» After a rare meeting... sources talk about Al-Sadr's future in political life in Iraq
Today at 4:21 am by Rocky
» The President of the Republic warns of climate change and its threat to food security and future gen
Today at 4:20 am by Rocky
» The Iranian ambassador to Iraq talks about negotiations for the withdrawal of American forces and Tu
Today at 4:19 am by Rocky
» Deputy: Iraq represents an important factor in the stability of the global oil market
Today at 4:16 am by Rocky
» Transportation: The Iraqi-Turkish technical committees continue to fulfill the requirements for impl
Today at 4:15 am by Rocky
» Economic: Raising the interest rate will reduce real estate prices
Yesterday at 7:20 am by Rocky
» Did Barzani agree in Tehran to end the presence of Iranian groups in Kurdistan? - urgent
Yesterday at 7:16 am by Rocky
» Al-Sudani: We are establishing a new situation for the global energy market through the Development
Yesterday at 7:14 am by Rocky
» Al-Sudani: The government program devoted a wide scope to the government’s vision for oil and gas in
Yesterday at 7:11 am by Rocky
» Al-Awadi: Ending the work of the UNAMI mission is consistent with the government’s vision in this fi
Yesterday at 7:10 am by Rocky
» MM&C Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and w
Yesterday at 5:24 am by Rocky
» The Secretary of the Ministry of Defense meets with the Commander of the NATO mission
Yesterday at 5:17 am by Rocky
» Expert: The stability of the economy is linked to the political situation
Yesterday at 5:13 am by Rocky
» A parliamentary request to lift the injustice against 20,000 Iraqi employees
Yesterday at 5:09 am by Rocky
» Parliamentary Finance criticizes the government's failure to send the budget schedules
Yesterday at 5:08 am by Rocky
» Minister of Oil: The 5th and 6th licensing rounds will take place within the framework of exploratio
Yesterday at 5:07 am by Rocky
» Al-Sudani: Iraq is a difficult number in the global market in the field of energy
Yesterday at 5:06 am by Rocky
» Al-Khanjar rejects Al-Halbousi’s request to head Parliament
Yesterday at 5:05 am by Rocky
» Revealing the date of the arrival of the 2024 budget schedules
Yesterday at 5:04 am by Rocky
» Al-Halbousi nominates Talal Al-Zubaie for presidency of the House of Representatives
Yesterday at 5:03 am by Rocky
» "A coup in Iraqi universities"... Replacement of presidents and deans under the new education law
Yesterday at 5:01 am by Rocky
» Al-Sudani: Iraq is a difficult number in the equation of energy and oil wealth in the region and the
Yesterday at 5:00 am by Rocky
» Minister of Oil: We hope to announce an increase in Iraq’s oil reserves to 160 billion barrels
Yesterday at 4:58 am by Rocky
» Iraq's mass graves...stories that did not end with the burial of their owners, and the "legacy of IS
Yesterday at 4:57 am by Rocky
» Pictures: New licenses in Iraq to extract “huge” quantities of oil and gas
Yesterday at 4:56 am by Rocky
» Transport reopens the Baghdad - Samarra railway line
Yesterday at 4:55 am by Rocky
» Al-Awadi: A government decision to provide sovereign guarantees and guarantees to encourage the inve
Yesterday at 4:54 am by Rocky
» Oil clarifies the mechanism for investing grant funds and licensing contracts
Yesterday at 4:51 am by Rocky
» A $700 million agreement is signed between Iraq and Italy to finance these projects
Yesterday at 4:50 am by Rocky
» Iraq recovers 90 billion dinars from social protection violators
Yesterday at 4:49 am by Rocky
» Sudanese officially launches the two licensing rounds and sets the date for stopping gas burning
Yesterday at 4:48 am by Rocky
» An economic vision for the standard of competition for exploratory plots in Iraq
Yesterday at 4:47 am by Rocky
» The Iraqi Islamic Bank announces an increase in its capital to 300 billion dinars
Yesterday at 4:46 am by Rocky