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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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A new government statement on the 2022 budget and oil prices: subject to three factors

rocky
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A new government statement on the 2022 budget and oil prices: subject to three factors Empty A new government statement on the 2022 budget and oil prices: subject to three factors

Post by rocky Sun 17 Oct 2021, 7:07 am

[size=36]A new government statement on the 2022 budget and oil prices: subject to three factors[/size]

political| 09:19 - 10/17/2021

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Baghdad - Mawazine News
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, commented on Sunday again about the 2022 budget and oil prices.
Saleh said, according to the official newspaper, that "the rises in crude oil prices are subject to three factors: the first is the price averages throughout the fiscal year, the second is the exported quantities, and the third factor is hedging against the fluctuations of the oil market because the asset cycle in it is fraught with risks, once supply rises above demand." There is a so-called "oil glut" that leads to serious collapses in crude oil prices."
And he indicated that "according to the (financial management law) in force, which urges the adoption of an average price of a barrel of oil for the purposes of calculating oil revenues in the budget in a rational and conservative manner," the public budgets of the Republic of Iraq are designed on oil prices lower than the market price and generate a potential or hypothetical deficit surrounded by a financial buffer. It collects oil revenues that exceed the price of a barrel of oil specified in the budget to feed expenditures without resorting to borrowing in case the deficit is actually.”
He explained that “the problem in the budget is always (non-oil) revenues that do not reach the ceiling of the targeted expectations.”
He added, "If we expect, for example, (50 dollars) as the price of a barrel for the next year's budget 2022, we must obtain an average annual return from oil exports by exporting more than three million barrels and at a price per barrel of oil not less than 75 dollars annually, and if it is achieved Surpluses due to the rise in the average price of a barrel to above $75 as an annual average during the fiscal year, so it must be employed for the investment budget and the operation of projects in the following year 2023.” Ended 29/A43
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rocky
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A new government statement on the 2022 budget and oil prices: subject to three factors Empty Al-Kazemi’s advisor: Financing the 2022 budget is subject to three factors

Post by rocky Sun 17 Oct 2021, 7:48 am

[size=30]Al-Kazemi’s advisor: Financing the 2022 budget is subject to three factors[/size]

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AM:09:42:17/10/2021


On Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, commented again on the 2022 budget and oil prices.
Saleh said in a press statement, followed by NRT Arabia, (October 17, 2021), that “the rises in crude oil prices are subject to three factors: the first is the price averages throughout the fiscal year, the second is the exported quantities, and the third factor is hedging against the fluctuations of the oil market because the cycle of assets is It is fraught with risks, as once supply rises above demand, the so-called (oil glut), which leads to serious collapses in crude oil prices, will occur.
He added, "Based on the effective (Financial Management Law), which urges the adoption of an average price per barrel of oil for the purposes of calculating oil revenues in the budget in a rational and conservative manner," the public budgets of the Republic of Iraq are designed on oil prices lower than the market price and generate a potential or hypothetical deficit surrounded by a buffer. Finance that collects oil revenues that exceed the price of a barrel of oil specified in the budget to feed expenditures without resorting to borrowing in case the deficit is actual.
Saleh explained, "The problem in the budget is always in (non-oil) revenues that do not reach the ceiling of the targeted expectations."
And he indicated, "If we expect, for example, (50 dollars) as the price of a barrel for the next year's budget 2022, then we must obtain an average annual return from oil exports, with the export of more than three million barrels, and at a price per barrel of oil not less than 75 dollars annually. Surpluses due to the rise in the average price of a barrel to above $75 as an annual average during the fiscal year, so it must be used for the investment budget and the operation of projects in the following year 2023.
 
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