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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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Calls to take advantage of high oil prices to bridge the deficit

rocky
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Calls to take advantage of high oil prices to bridge the deficit Empty Calls to take advantage of high oil prices to bridge the deficit

Post by rocky Sun 24 Oct 2021, 6:51 am

[size=52]Calls to take advantage of high oil prices to bridge the deficit[/size]

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  Baghdad: Shaima Rashid

Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, called on the government to take advantage of the rise in oil prices, which may reach $100 per barrel, until there is a reserve for the budget and to bridge the deficit and eliminate it.
Saleh said in an interview: “Building the next budget on the price of 60 dollars is very reasonable, and it has a stable vision, and it reduces the deficit by 75%,” explaining that “Iraq at these prices will fill all the budget deficit, even if it is planning.”
He added that "there are two problems, the first is Iraq's non-oil revenues, which do not reach their goals and do not cover their costs, and therefore this causes an actual deficit as well. “.
He continued, "The second problem is that the higher the oil prices, the lagging projects must be run, as we have 6,000 projects, some of which have been started and some of which have reached half, and these need to be re-implemented by contractors and contractors, meaning they need a cost to restore Construction is one of the remnants of disrupting the economy, but in general it is a positive thing because investments will expand and are supposed to reduce unemployment.”
Regarding the rise in oil prices to $ 100 a barrel or more, Saleh explained that “the rise in oil prices more than the current one enables the government to benefit from it in various quarters, including that the government must have a reserve called budget stability, meaning that in the event the budget is exposed to a decline and a deficit that is not It goes towards borrowing, but rather towards the reserves it has, so these funds must be in the budget reserve and have different aspects of allocation and start withdrawing from them for investment because it is he who provides job opportunities, raises growth and reduces unemployment and poverty.”


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