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Fiscal expert: $ 40 billion in oil revenues must be used to recruit young people

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rocky
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Fiscal expert: $ 40 billion in oil revenues must be used to recruit young people

Post by rocky on Tue 10 Jul 2018, 3:54 am

Fiscal expert: $ 40 billion in oil revenues must be used to recruit young people
July 10 2018 10:43 p
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Economic expert Malath al-Amin called on the government to direct the financial abundance of rising oil prices to meet Iraq's debts and create new jobs for young people. 

The Secretary said in a statement that: Revenues from the sale of oil during the first half of this year of more than / 40 / billion dollars more than estimated in the budget of 2018, because the budget adopted the price of a barrel of 46 dollars with an export of 3.800 million barrels per day, The current reality is the rise in oil prices since the beginning of the year sluggishly upwards to figures exceeding the threshold of $ 60 a barrel as a result of the imposition of US sanctions on Iran and the increase in global demand for energy with the suspension of a number of drilling in the oceans as well as the limited production of rock oil and the decline of US reserves " .

He added that "what serves Iraq is that this financial abundance of high oil prices should be directed towards the payment of Iraq's internal and external debt and the liberalization of its economy and allocate part of it to stimulate economic sectors to provide jobs for the unemployed and create new mobility in the local economic environment, On import to revive local products. "
He said that experts expect that the international conditions will continue in this period, which will lead to a new rise in oil prices in the second half of this year, with a slight increase in production from OPEC and some countries outside with increasing global demand for energy.
He stressed that "the rise in oil prices during the second half of this year will increase the financial revenues of the Iraqi budget, which requires the next government to prepare a supplementary budget and create doors for disbursement aimed at debt repayment and strengthening the national currency and serve the homeland and services and the development of economic sectors."
 
Val said that one of the most important doors that can invest surplus money from the budget is to maximize the export capabilities of crude and open multiple outlets for export and expansion of exploratory patches and the establishment of oil refineries and the export of derivatives and maintenance and development fleet of Iraqi oil tankers as well as interest in the production of gas, whether accompanying or natural and stop heartburn and sedition Ma Is a waste of national wealth.
The Ministry of Oil has announced yesterday that the amounts achieved from the export of oil during the first half of this year has exceeded 40 billion dollars.
 

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