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Anticipating A New Financial Crisis.. An Economist Talks About The Impact Of The Russian-Ukrainian War On Iraq
02/25/2022
9
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02/25/2022
9
[You must be registered and logged in to see this link.]
Earth News/ The General Coordinator of the Iraqi Economists Network, Bariq Muhammad Shebr, confirmed today, Friday, that the rise in energy prices as a result of the Russian-Ukrainian war will positively affect Iraqi oil revenues, while expecting a new financial crisis in Iraq.
Shuber said in a statement to Earth News, "As expected, the Russian-Ukrainian war greatly affected energy prices, as yesterday, Thursday, the price of gas on the Dutch stock exchange rose by 52% in one day," noting that "Europe depends on Russian gas. by 40%, and Germany, according to its government’s statements, by 55%.”
He added that "the rise in energy prices will positively affect Iraqi oil revenues in the short term, that is, the Iraqi budget, and not necessarily on the Iraqi economy," explaining that "there is a difference between improving budget revenues and improving economic performance."
He added, "In the short term, this improvement will occur, but in the medium term, it is expected that a global recession will appear and will affect the demand for energy and oil," adding that "it is expected that a new financial crisis will occur in Iraq as we experienced it in the past years, where the Iraqi economy was exposed." to three external shocks due to the collapse of oil prices.”
And he indicated that "Iraq will not benefit from the rise in gas prices because it imports it, and perhaps the bill for importing Iraqi gas from Iran and other countries will rise."
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Shuber said in a statement to Earth News, "As expected, the Russian-Ukrainian war greatly affected energy prices, as yesterday, Thursday, the price of gas on the Dutch stock exchange rose by 52% in one day," noting that "Europe depends on Russian gas. by 40%, and Germany, according to its government’s statements, by 55%.”
He added that "the rise in energy prices will positively affect Iraqi oil revenues in the short term, that is, the Iraqi budget, and not necessarily on the Iraqi economy," explaining that "there is a difference between improving budget revenues and improving economic performance."
He added, "In the short term, this improvement will occur, but in the medium term, it is expected that a global recession will appear and will affect the demand for energy and oil," adding that "it is expected that a new financial crisis will occur in Iraq as we experienced it in the past years, where the Iraqi economy was exposed." to three external shocks due to the collapse of oil prices.”
And he indicated that "Iraq will not benefit from the rise in gas prices because it imports it, and perhaps the bill for importing Iraqi gas from Iran and other countries will rise."
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