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2021-10-02 07:50
Parliamentary Finance: The rise in oil prices is not enough to cover government expenditures
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2021-10-02 07:50
Shafaq News/ Today, Tuesday, the Parliamentary Finance Committee considered that the increase in oil prices is not sufficient to cover government expenditures in the budget law, while noting that Iraq exports two million and 500 thousand barrels per day.
Committee member Muhammad Al-Shabki told Shafak News Agency, "Iraq used to export about three million and 500 thousand barrels per day, but after the OPEC agreement to reduce the value of exports to member countries, it has exported two million and 500 thousand barrels per day."
He added that "the OPEC agreement was a reason for reducing the financial revenues belonging to the state treasury from oil exports, and therefore the rise in oil prices is not sufficient to cover government expenditures in the budget law."
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Committee member Muhammad Al-Shabki told Shafak News Agency, "Iraq used to export about three million and 500 thousand barrels per day, but after the OPEC agreement to reduce the value of exports to member countries, it has exported two million and 500 thousand barrels per day."
He added that "the OPEC agreement was a reason for reducing the financial revenues belonging to the state treasury from oil exports, and therefore the rise in oil prices is not sufficient to cover government expenditures in the budget law."
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