Home
Recruiting the return from high oil prices
28/7/2018 12:00 am [rtl]Sadiq Kazem Iraq is one of the largest producers and exporters of oil in the world and depends on this commodity in securing its financial imports significantly and suffered during 2014 from the decline in oil prices, which fell and fell significantly, affecting the financial revenues, which led to a near cessation of projects Reconstruction and government investment, as well as the cost of a national war against terrorist gangs. Since the last quarter of 2017, oil prices have risen again as a result of the historic agreement between OPEC members and Russia to cut production in line with the offer and work to withdraw excess supply from the supply market, which is certainly the happiest OPEC country that has recovered its losses and earned profits. Iraq's oil exports reach three and a half million barrels per day if added to the full production of Kirkuk fields could increase production to 4 million barrels per day and this will certainly raise the material revenues to the amounts of up to $ 7 billion per month, which can provide Iraq with financial savings Especially since Iraq has prepared its budget for the current year based on the price of a barrel of $ 45, which will make the surplus up to 24 - 25 dollars per barrel, which makes the expected profit up to 87 million dollars a day and the rate of 2.7 billion dollars per month, that the savings can reach 32.4 Billion dollars annually The oil prices are expected to remain at their current level and revenues could rise further, especially as there are expectations of higher oil prices due to lower oil production in both Venezuela and Libya and the possibility of a halt in Iranian oil sales due to US sanctions, Per barrel. The important thing in the matter is how to maintain this surplus in the budget and employment in a way that contributes to the recovery of the Iraqi economy, in addition to the possibility of establishing a sovereign fund for investment that the government can invest outside the country in projects guaranteed profit in order to raise rates of return and assets of this fund as did the countries of the UAE and Kuwait Qatar, which has used its surplus oil budgets in projects worth more than $ 100 billion. Iraq needs to employ these surpluses and to benefit from the experience of the painful price drop experienced during 2014 when the country was threatened with bankruptcy and almost unable to secure the salaries of employees and not having to spend in the items and doors of exchange leads to loss and waste and not to benefit from them. The sovereign fund for investment and the proper employment of surplus financial revenues is a necessary step for the development and diversification of financial resources and not to rely on previous failed experiments that caused the loss and waste of huge amounts of money because of the open spending policies and the waste of money without account, in addition to the failed development projects that have caused a budget State large sums of money. Oil is a volatile commodity, and the Iraqi economy depends on it very much. [/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
» Postponing the parliament session to vote on the budget to this date
» 90% of it went abroad.. The Central Bank of Iraq sells more than 205 million dollars during today's
» The Ministry of Environment announces the launch of sustainable solutions to confront the climate cr
» Militia Man & Crew patron-only new video: "Two Sides of the Story"
» Parliamentary Finance details the revenues of Kurdistan's oil exports within 365 days.. How was the
» An economist explains a mechanism to shorten registration on new cities
» Al-Sudani: The budget amendments are political, not technical, and this is about voting on them
» Almost Final Confirmation From The Framework About The Budget Pass Session.. Will We Witness A Vote?
» Parliament’s Finances Reveal The Fate Of Kurdistan’s Budget Amendments.. “The Agreement Has Been Ach
» Legal expert: Passing the budget without taking into account the decisions of the Federal Court will
» Al-Zajrawi: Transferring 6 trillion dinars to support the investment budget of the governorates and
» Barzani's advisor: The regional government is not a caretaker
» Move to reconsider granting investment licenses.. What is the fate of malls and residential complexe
» Dollar prices fell against the dinar in Baghdad and Erbil
» Central Iraqi sales decreased by 11% in today's auction
» "Manipulation and speculation".. Economists attribute the dollar's rise in the parallel market to "n
» Dollar exchange rates in the local markets
» Al-Abadi's coalition reveals the secrets of the agreement between the coordination framework and Bar
» US Ambassador Romanowski urges the Kurdistan Regional Administration to hold urgent elections
» Sunnis and Kurds announce their positions on the budget voting session
» Al-Alaq confirms that the Central Bank of Iraq is serious about supporting the small and medium ente
» Emir of Qatar in Baghdad soon
» Securities expect a decline in the price of the dollar after the approval of the budget
» Iraq and Switzerland are looking to build partnerships in the financial and economic sectors
» The Central Bank hints at the possibility of canceling some fines on banks
» Preventing the leveling of agricultural lands to widen the streets
» Iraq lays the first building block in building an advanced digital health system
» Parliamentary Energy: The next two years will witness the end of the electricity crisis
» Up to 150 million dinars.. Al-Rafidain launches construction loans for employees
» Chambers of Commerce identify three reasons behind the rise in the exchange rate of the dollar in th
» A statement from the Dawa Party regarding al-Maliki's connection to accounts that "offend the audito
» The framework ends a "long meeting" and heralds the approval of the most important project budget in
» Alekti resolves his position to attend the session to pass the budget
» Washington is hinting at an Iraqi role in the Pacific and Atlantic
» A parliamentary source reveals to (Baghdad Today) the reasons for postponing the budget session unti
» Al-Barti on today's session: Things are positive, and we are afraid of surprises in the last moments
» The Central Bank sells more than 200 million dollars with the decline of the Iraqi dinar in the mark
» Saudi Arabia expects to operate the electrical interconnection project with Iraq by the end of 2025
» In the document.. The Retirement Authority announces the completion of a study on the issue of incre
» New military operations for US forces in Iraq
» The Foreign Minister arrives in Riyadh to participate in the meeting of the international coalition
» Foreign Ministry: Iraq works to improve services, infrastructure, economy and fight corruption
» The House of Representatives postpones its session to eight o'clock this evening
» Briar Rashid: The House of Representatives has no choice but to vote on the draft budget law
» The tripartite budget project blown parliamentary disputes
» Postponement of the budget vote session
» Iraqi-Saudi meetings are "expected" to exchange security and intelligence information
» An Iraqi parliamentary delegation participates in the meetings of the Arab Parliament
» Dollar exchange rates in the Iraqi market today
» The Kurdistan Democratic Party decides its position on attending the budget session
» Frank26 is Going Live!!! Tuesday Night 6-6-2023
» Al-Rasheed Bank begins raising a new batch of electronic advances
» A slight increase in the exchange rates of the dollar in the local markets
» Close about 20 smuggling corridors between Iraq and Iran
» The budget spreads its papers on the table of secret settlements..and the representatives are protes
» The Council of Ministers holds its regular session headed by Al-Kazemi
» Statement from Commerce regarding the 'electronic automation form stamp'
» Democratic deputy: We will overcome the differences in tomorrow's session
» The end of a lengthy meeting of the framework and the announcement of an agreement to pass the budg
» Hannoun: The Central Bank will support the initiative to support small and medium enterprises
» USAID: We are committed to cooperating with our Iraqi partners to bring about positive change.. Thes
» The Central Bank denies depriving banks and companies from participating in the external transfer pl
» Details of a meeting between the Minister of Finance and a number of deputies
» Democrat lawmaker reveals 'drastic changes' on eve of budget session
» Emir of Qatar in Baghdad.. Economic and investment issues will be present
» Warnings of running out of Iraqi cash reserves due to indicators of the international economy
» A manipulation that almost made a profit of 1.2 billion dinars.. The abundant wheat season "tempts"
» Members of Parliamentary Finance: The political forces hijacked the budget
» The Electoral Commission clarifies the mechanism of work of the monitoring teams and the conditions
» Oil Allocates 40,000 residential plots of land in Basra for workers in the oil sector
» Minister of Oil: Allocating (40) thousand residential plots of land in Basra for workers in the oil
» The Minister of Oil reveals to Alsumaria the possibility of compensating Iraq for Iranian gas
» Iraq and Hungary are discussing the strategic development path project
» The Central Bank of Iraq denies the allegations of stopping some electronic payment cards
» A parliamentarian detonates a surprise about the budget, hours before it is approved
» Here, There and Everywhere
» In the presence of Al-Sudani, the framework agrees to pass the budget tomorrow
» The Central Bank of Iraq gives approval to open a government bank in Kurdistan within the unified ba
» Counterfeit currencies penetrate Iraq's borders and cause an increase in the value of the dollar
» Finance is discussing with the Swedish ambassador to build partnerships in the financial, economic a
» Independent deputies announce attendance at tomorrow's session: it may pass without the Democrat
» The Central Bank: directed to build a national lending strategy that will come into effect in early
» Planning begins with the implementation of the social and economic survey of the family in Iraq
» The Iraqi Trade Bank warns against trading in (the Belarusian ruble) and (the Venezuelan bolivar)
» Parliamentary Finance: Efforts to transfer the region's oil to be used locally and to preserve the a
» Politician: Exporting oil through SOMO will reveal the parties with which the region deals
» Budget 2023.. Al-Sudanese is betting on the majority to support the service government
» Disclosure of a prior and comprehensive political agreement to pass the budget tomorrow
» Economic: Legislation of the oil and gas law has become binding on the government and parliament
» Iraqi-Japanese talks to complete the signing of agreements related to the oil industries
» Housing crisis.. Al-Sudani: We will provide serviced plots of land and will not suffice with complex
» Al-Sudani: The development road includes the largest industrial city in the Middle East
» The World Bank lowers its forecasts for the economies of the Middle East in 2023
» It witnessed an increase during Al-Kazemi’s rule.. The World Bank: Iraq’s GDP growth declined by 1.1
» Report: Saudi Aramco is seeking large oil opportunities in Iraq
» The Aviation Authority announces the activation of 8 air transport agreements
» The use of POS devices, start-up and future prospects
» Sales of the Central Bank of Iraq exceed 230 million dollars in today's auction