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[size=38]An Economic Warning Against Wasting Large Amounts Of Money After The Fourth Wave Of The Rise In Oil
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LAST UPDATE 02/17/2022 | 2:38 PM
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The Information / Baghdad..
The economic expert, Basem Antoine, called on the government, on Thursday, not to continue to pursue a backward policy in managing the economic file, especially with the rise in global oil prices, indicating that the Sovereign Fund of Iraq has become a requirement to end dependence on oil.
Antoine said in a statement to "The Information", "Over the past years, Iraq witnessed four waves of high global oil prices, but it did not invest them properly, as the price of oil currently exceeds 95, meaning an estimated surplus of about 40 dollars per Iraqi barrel."
He added that "strategic and development projects, basic infrastructure, and the establishment of a sovereign fund, as it is in the oil-rich countries, will ensure the end of Iraq's dependence on oil in the coming period."
Antoine pointed out that “the continuation of a backward policy in managing the surplus of oil prices and not diversifying the source of Iraq’s income will bring to Iraq an economic disaster, as happened two years ago when the government was unable to distribute salaries and was forced to reduce the price of the dinar and an unprecedented economic stumble.” End / 25 D
The economic expert, Basem Antoine, called on the government, on Thursday, not to continue to pursue a backward policy in managing the economic file, especially with the rise in global oil prices, indicating that the Sovereign Fund of Iraq has become a requirement to end dependence on oil.
Antoine said in a statement to "The Information", "Over the past years, Iraq witnessed four waves of high global oil prices, but it did not invest them properly, as the price of oil currently exceeds 95, meaning an estimated surplus of about 40 dollars per Iraqi barrel."
He added that "strategic and development projects, basic infrastructure, and the establishment of a sovereign fund, as it is in the oil-rich countries, will ensure the end of Iraq's dependence on oil in the coming period."
Antoine pointed out that “the continuation of a backward policy in managing the surplus of oil prices and not diversifying the source of Iraq’s income will bring to Iraq an economic disaster, as happened two years ago when the government was unable to distribute salaries and was forced to reduce the price of the dinar and an unprecedented economic stumble.” End / 25 D
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