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[size=46]Parliamentary Oil: It is necessary to transfer part of the revenues to the oil-producing governorates[/size]
Economy
12:36 - 2024-03-27
[You must be registered and logged in to see this image.]12:36 - 2024-03-27
A member of the Parliamentary Oil and Natural Resources Committee, Bassem Al-Gharibawi, confirmed on Wednesday that the rise in oil prices above the price recorded in the budget requires the government to transfer part of this increase to the oil-producing governorates in order to fill the deficit in their budgets and complete lagging projects.
Al-Gharibawi said, “Oil prices have recorded a significant increase recently, and they have not fallen to levels lower than what was recorded in the budget. Therefore, the resulting increase requires the government to transfer it to the producing governorates in order to fill the deficit in its budget.”
He added, "Iraq is completing the annex to the fifth licensing round and proceeding with the sixth round allocated for gas projects, and these projects will add new revenues to the country."
He stated that "the oil-producing governorates have money owed by the government since the past years, and this money contributes to completing lagging projects and filling the deficit in their budgets, the most prominent of which is Wasit, for which the government has requested one trillion and 500 billion dinars since 2011."
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