Economist reveals the financial future of Iraq in light of high oil prices

by **Rocky** Thu 01 Feb 2018, 3:03 am

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Economist reveals the financial future of Iraq in light of high oil prices

by Rocky Thu 01 Feb 2018, 3:03 am

Economist reveals the financial future of Iraq in light of high oil prices

17:51 - 31/01/2018
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Information / Special ...

The economic expert in the name of Jamil Antoine, on Wednesday, the financial future of Iraq in light of the high price of a barrel of oil and reached $ 66, stressing that this will eliminate the budget deficit and achieve surplus funds and contribute to the reconstruction of liberated areas and debt repayment of Iraq.

"The budget was built on the basis of the price of a barrel of oil $ 46, while we are witnessing today a recovery in the oil market, where the price of a barrel of $ 66," Antoine said.

He added that "high oil prices will eliminate the deficit in the budget, which amounted to 13 trillion dinars," pointing out that "the survival of oil prices as it will leave a large surplus in Iraqi funds, which contributes to the debt owed by Iraq in addition to the reconstruction of liberated areas" .

He explained that "next year will not witness an explosive budget even with the survival of oil prices as it is, as there are a lot of projects stalled in the country, which is hoped to resume work in light of the recovery of the oil market."

He explained that "there are many areas completely destroyed, where a plan has been put for 10 years for the reconstruction," noting that "Nineveh province needs more than 60 thousand housing units, and therefore it requires large funding in addition to the infrastructure is the other Need a new structure. "

The member of the parliamentary finance committee, MP Ahmad al-Kinani, confirmed to (information) /, on Tuesday, that "the high price of a barrel of oil came in agreement with the Organization (OPEC)," noting that "the current price of oil barrel of $ 66 will remain the same for Three years, which contributes to filling the deficit in the budget during the current year. Finished

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