Parliamentary Finance: Iraqi oil 3 days ago is not sold on the global market
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The Economy News - Baghdad
The Parliamentary Finance Committee announced that Iraqi oil has had no buyer for three days because of the increased supply and the closure of the economies of the world.
"Three days ago, Iraqi oil has no buyer despite Iraq approaching Indian companies because of the oversupply and stopping of most of the world's economies," the committee's chairman, Haitham Al-Jubouri, said in an interview with the Euphoria satellite channel, "Fawk Al-Shath". He pointed out that the financial deficit in salaries only will reach 34 trillion dinars if oil prices remain the same.
He added that Iraqi oil is currently sold between $ 15 to $ 18, while Iraq is required monthly by 7.2 trillion dinars to pay the required expenses such as salaries and the purchase of electricity and others, stressing that Iraq’s revenues currently amount to 1.5 trillion dinars per month.
He pointed out that the solutions proposed to pay the salaries of the employees are to increase the fees, customs and taxes and to authorize the Minister of Finance for internal and external borrowing, pointing out that the Iraq budget for the year 2020 is difficult to pass, so it is better to make a monthly budget approved by Parliament.
He stressed that there is a proposal that includes selling the reduction share of one million barrels to citizens and then selling it to the government when the oil improves, pointing out that the decisions of the Adel Abdul Mahdi government led to raising salaries from 40 trillion dinars to 52 trillion dinars.
He added that the salaries of special grades, members of parliament and ministers do not constitute 2 per thousand of the financial budget, explaining that corruption in customs annually amounts to 8 billion dollars.
Al-Jubouri continued his speech by saying that the Iraqi debt amounts to 67 billion dollars divided into 27 billion dollars in external debt and 40 billion dollars in internal debt, mostly to government banks and the central bank.