[size=36]Oil: The price increase will be invested to fill the budget deficit and pay off debts[/size]
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The spokesman for the ministry, Assem Jihad, said, "Iraq adopts the monthly pricing for oil, and this is done through a meeting between the oil minister, the ministry's agents, directors of the concerned departments, the director general of the oil marketing company and representatives from the oil companies and the concerned authorities, at the beginning of each month, and the market is reviewed." Oil and approval of oil pricing for the mentioned month.
Jihad added, "The ministry is working to maximize oil revenues, and Iraq has begun to export 3 types of oil, which are the most revenue from other oil prices, thus raising the financial value of that process."
He explained, "It is not possible to estimate the amounts or the increase in the estimates of the federal budget, since we are still in the middle of the year," expressing his hope that prices will stabilize at more than $ 70 until the end of the current year in order to collect the revenues generated, and collect the monthly revenues and divide On the 12 ".
He continued: "Therefore, the monthly average of revenues generated from exporting oil will be for a period of one year, and then the increase will be known, the budget deficit will be filled, part of Iraq's debts are paid and some service projects are closed, which are among the priorities of the Iraqi government."
He emphasized, "