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Economist: Exploitation of high oil prices will contribute to the budget surplus
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BAGHDAD / The economic expert Salam Smisem, Wednesday, that the next mark will see an increase in demand for Iraqi oil, indicating that the rise in oil prices will help to replenish the budget with new sources.
"Iraq is about to increase the demand for its oil, with prospects and expectations of a rise in the price of crude oil," Smisem told Iraq News.
He added that "the government can not control the prices of oil, even the mindset of Iraqi oil can not manipulate the prices of crude," noting that "the arrival of the price of oil to $ 63 per barrel will contribute to the Iraqi budget to provide a new financial source."
Oil jumped more than 1 percent on Wednesday, boosted by a drop in Canadian crude supplies through a US pipeline and a drop in US crude inventories, as well as expectations for an extension of OPEC-led oil production cuts, giving Iraq an opportunity to boost its fiscal revenue and reduce the budget deficit for the year. Next, where Iraq decided to adopt the price of $ 43 per barrel in the draft budget, which makes use of the difference in sales price in the enhancement of revenues on supplementary budgets on the one hand, and reduce the deficit gap on the other. Finished
[You must be registered and logged in to see this link.]
BAGHDAD / The economic expert Salam Smisem, Wednesday, that the next mark will see an increase in demand for Iraqi oil, indicating that the rise in oil prices will help to replenish the budget with new sources.
"Iraq is about to increase the demand for its oil, with prospects and expectations of a rise in the price of crude oil," Smisem told Iraq News.
He added that "the government can not control the prices of oil, even the mindset of Iraqi oil can not manipulate the prices of crude," noting that "the arrival of the price of oil to $ 63 per barrel will contribute to the Iraqi budget to provide a new financial source."
Oil jumped more than 1 percent on Wednesday, boosted by a drop in Canadian crude supplies through a US pipeline and a drop in US crude inventories, as well as expectations for an extension of OPEC-led oil production cuts, giving Iraq an opportunity to boost its fiscal revenue and reduce the budget deficit for the year. Next, where Iraq decided to adopt the price of $ 43 per barrel in the draft budget, which makes use of the difference in sales price in the enhancement of revenues on supplementary budgets on the one hand, and reduce the deficit gap on the other. Finished
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