POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]
[size=52]Budget delays prevent the use of abundant oil in investment projects[/size]
[size=45]Baghdad/ Firas Adnan[/size]
[size=45]Economists suggested that the price of oil during the current year would remain above $100 a barrel, pointing out that the lack of approval of the budget prevents the financial abundance achieved from Iraqi exports in investment, warning against allocating it to spending on operational units and wasting an opportunity that may not be realized in the near future.[/size]
[size=45]Economist Furat Al-Moussawi said, “Most of the readings of the International Energy Agency confirm the continued rise in oil prices, especially after the recent changes resulting from the war in Ukraine and the sanctions that resulted from it, and the Iranian nuclear agreement, and the suspension of oil supplies in Libya, Kazakhstan and Azerbaijan, and this leads to an increase in demand. “. Al-Moussawi added, "The price of a barrel will stabilize above $100, after the United States decided to use a third of its strategic reserves by pumping one million barrels of oil per day." He pointed out, "Iraq is a single economic and rentier country that depends for its revenues on oil by more than 92%. It is facing a very big opportunity to benefit from this increase, as our revenues during the first three months of this year were about 28 billion dollars."[/size]
[size=45]Al-Moussawi explained, "The oil revenues for the same months during the previous year were $15 billion, and thus the increase came by about $13 billion, and it can be used in the field of oil investment to increase production."[/size]
[size=45]And he stated, "The ratios set by OPEC for oil production and export cannot be reached by Iraq, which requires intensifying efforts in investment in order to raise the country's oil efficiency."[/size]
[size=45]And Al-Moussawi said, "The increase is also an opportunity to pass the law of the disabled sovereign fund, and the current financial abundance should go to investment projects that reduce poverty and unemployment."[/size]
[size=45]And he added, "Dealing with the current rise in prices is the task of the executive and legislative authorities, by cooperating on enacting laws that provide economic revenues."[/size]
[size=45]Al-Moussawi warned against "the continuation of previous policies represented in taking these revenues and spending them on operational resources, because we will be facing a waste of money and a waste of an opportunity that may not be repeated in the future."[/size]
[size=45]He believed, "One of the criticisms currently directed at the government and parliament is the failure to legislate the budget law and resort to alternative legislation, at a time when we need a legal organization that deals with this increase in order to use it properly."[/size]
[size=45]Al-Moussawi added, "The waste of abundance that may reach very large sums during the next six months by spending on operational resources, this means that we have not addressed the unemployment crisis and others."[/size]
[size=45]In addition, the other economist, Nabil Al-Ali, stated that "the oil revenues go to the accounts of the Ministry of Finance, which is managed by the Central Bank of Iraq."[/size]
[size=45]Al-Ali added, "The disbursement of these revenues is linked to the existence of bonds represented in the budget law, which allows the Iraqi government to conduct spending according to legal doors."[/size]
[size=45]He pointed out that "estimates and economists are in agreement about oil prices that they will not decrease, and there are those who see that they will witness a rise to reach $180," but he agrees with Al-Moussawi that "prices will continue to go beyond $100 to reach $120 in most cases." .[/size]
[size=45]Al-Ali stressed that “the prices that are set in the budget law are speculative and precautionary, and the differences in these prices will be through which the deficit will be paid.”[/size]
[size=45]Last month, Iraqi oil revenues reached their highest level since 1972, recording $11.07 billion, according to preliminary figures from the Oil Ministry.[/size]
[size=45][You must be registered and logged in to see this link.]
[size=52]Budget delays prevent the use of abundant oil in investment projects[/size]
[size=45]Baghdad/ Firas Adnan[/size]
[size=45]Economists suggested that the price of oil during the current year would remain above $100 a barrel, pointing out that the lack of approval of the budget prevents the financial abundance achieved from Iraqi exports in investment, warning against allocating it to spending on operational units and wasting an opportunity that may not be realized in the near future.[/size]
[size=45]Economist Furat Al-Moussawi said, “Most of the readings of the International Energy Agency confirm the continued rise in oil prices, especially after the recent changes resulting from the war in Ukraine and the sanctions that resulted from it, and the Iranian nuclear agreement, and the suspension of oil supplies in Libya, Kazakhstan and Azerbaijan, and this leads to an increase in demand. “. Al-Moussawi added, "The price of a barrel will stabilize above $100, after the United States decided to use a third of its strategic reserves by pumping one million barrels of oil per day." He pointed out, "Iraq is a single economic and rentier country that depends for its revenues on oil by more than 92%. It is facing a very big opportunity to benefit from this increase, as our revenues during the first three months of this year were about 28 billion dollars."[/size]
[size=45]Al-Moussawi explained, "The oil revenues for the same months during the previous year were $15 billion, and thus the increase came by about $13 billion, and it can be used in the field of oil investment to increase production."[/size]
[size=45]And he stated, "The ratios set by OPEC for oil production and export cannot be reached by Iraq, which requires intensifying efforts in investment in order to raise the country's oil efficiency."[/size]
[size=45]And Al-Moussawi said, "The increase is also an opportunity to pass the law of the disabled sovereign fund, and the current financial abundance should go to investment projects that reduce poverty and unemployment."[/size]
[size=45]And he added, "Dealing with the current rise in prices is the task of the executive and legislative authorities, by cooperating on enacting laws that provide economic revenues."[/size]
[size=45]Al-Moussawi warned against "the continuation of previous policies represented in taking these revenues and spending them on operational resources, because we will be facing a waste of money and a waste of an opportunity that may not be repeated in the future."[/size]
[size=45]He believed, "One of the criticisms currently directed at the government and parliament is the failure to legislate the budget law and resort to alternative legislation, at a time when we need a legal organization that deals with this increase in order to use it properly."[/size]
[size=45]Al-Moussawi added, "The waste of abundance that may reach very large sums during the next six months by spending on operational resources, this means that we have not addressed the unemployment crisis and others."[/size]
[size=45]In addition, the other economist, Nabil Al-Ali, stated that "the oil revenues go to the accounts of the Ministry of Finance, which is managed by the Central Bank of Iraq."[/size]
[size=45]Al-Ali added, "The disbursement of these revenues is linked to the existence of bonds represented in the budget law, which allows the Iraqi government to conduct spending according to legal doors."[/size]
[size=45]He pointed out that "estimates and economists are in agreement about oil prices that they will not decrease, and there are those who see that they will witness a rise to reach $180," but he agrees with Al-Moussawi that "prices will continue to go beyond $100 to reach $120 in most cases." .[/size]
[size=45]Al-Ali stressed that “the prices that are set in the budget law are speculative and precautionary, and the differences in these prices will be through which the deficit will be paid.”[/size]
[size=45]Last month, Iraqi oil revenues reached their highest level since 1972, recording $11.07 billion, according to preliminary figures from the Oil Ministry.[/size]
[size=45][You must be registered and logged in to see this link.]
» The Prime Minister is discussing in Paris providing Iraq with specialized radars and combat aircraft
» The Prime Minister is discussing with the delegation of Alstom Transport Company the suspended Baghd
» Prime Minister: We need a new style of relationship with the international coalition, and our financ
» An expert hints at the stability of the dollar at a certain number: two options before the dinar det
» It provides thousands of job opportunities and millions of dollars.. Can Iraq implement the "transit
» Pompeo's memoirs.. Al-Abadi told me: You take my money and Soleimani will take my life
» Iraq gets about $100 million annually from aircraft crossing its airspaceproposals from
» Iraq.. 12 million citizens do not receive 200,000 dinars per month
» 100 dollars for the “hardship” .. This is how the dollar is smuggled after the application of the el
» Iraq wants to buy French Rafale aircraft
» In detail... Iraq and France sign a memorandum of understanding in the field of combating corruption
» Transport reviews the details of a "giant project" linking Iraq with Europe
» Sheikh Jamal Al-Dari: Iraq's signing of the strategic partnership agreement with France is an import
» Legal experts: The Federal Court is unconstitutional and “political tensions” are behind the decisio
» Fouad Hussein: Al-Sudani and Macron did not address the recent Federal Court decision
» “Sales diplomacy.” South Korea strengthens its presence in Iraq and the region’s markets
» Foreign Ministry: Iraq seeks to recover smuggled funds by signing memorandums of understanding
» Parliamentary Finance: The dollar is available in the Central Bank, and banks refrain from buying it
» Al-Samarrai on the Paris Agreement: It represents a transition that the Iraqis have been waiting for
» "Exceptional circumstances" suspend the work of the Iraqi embassy in a European country
» This Is How The Dollar Crisis Was Made.. And This Is How The Sudanese Became! C 2
» 4 parliamentary questions looking for the "secret" of depositing Iraq's money in the US Federal Rese
» Ministry of Commerce: The prices of building materials in our warehouses are fixed and have not been
» Iraqi Kurdistan warns of the "illegal" suspension of funding
» Integrity announces the return of more than a trillion dinars in the investigations of the investmen
» Counselor Mazhar Saleh presents proposals to ensure market stability
» Obelisk Hour: The decision of the Federal Court is implemented retroactively and the money is return
» The Constitution Amendment Committee is fading away amid calls to reduce Parliament to 250 deputies
» The oil and gas law has been faltering since 2008, and the Federal Council is at the center of a dis
» Iraq is outside the group.. Arab countries are classified as a "cultural influence index"
» A leader in the framework: The theft of the century revealed 3 surprises... and 70% of the cases hav
» A leader in the framework: Russia will intervene in resolving the urgent dollar crisis in Iraq
» “The washing continues.” Parliamentary Finance: Exempting the governor of the Central Bank does not
» Kurdish deputy: One goal behind Baghdad's pressure on the oil companies in the region
» After cutting off funds from the region, its president announces: The Kurds are Iraqi citizens
» Al-Sudani in Paris.. Details about armament deals, gas and electricity investments
» Washington surprised Baghdad with the restrictions of the dollar.. A Dutch network talks about "deli
» There is no power over the judiciary other than the law.
» Parliament asks Foreign Minister Fuad Hussein about the reason for depositing Iraq's money in the US
» America calls on Iraq to abide by its sanctions against Iran and to prevent the transfer of the doll
» Sudanese financial advisor offers new solutions to reduce the dollar crisis
» Headed by Al-Halbousi.. Starting a consultative meeting for the Arab Inter-Parliamentary Union
» Prime Minister: We will continue to work for serious partnerships that guarantee Iraq achieving econ
» Adviser to the Prime Minister presents two proposals to ensure the stability of the national market
» Al-Sudani expresses his government's desire to cooperate with UNESCO to implement small and medium p
» Trade: Government movement led by Al-Sudani to control food prices
» Minister of Labor: The Social Research Campaign is the largest in the region
» Saleh: The proceeds of small trades constitute 70% of the total import units
» Resources: Upcoming meetings with the Turkish side and dialogues with Iran on water shares
» The Minister of Electricity explains the reason for the recent decline in supply hours
» Nechirvan Barzani discusses with Erdogan the situation in Kurdistan and Iraq and ways to enhance coo
» Nechirvan Barzani on the anniversary of the liberation of Kobani: The people of Kurdistan will never
» Education determines the number of college schools Iraq needs
» From behind the scenes of the stock exchanges...a specialist reveals 3 types of dollar dealers there
» A great success for the forum of commercial meetings between Iraqi and Qatari companies.
» Within the framework of aid distribution … the Minister of Immigration instructed to provide aid to
» Legal experts: The Federal Court is unconstitutional and “political tensions” are behind the decisio
» The Prime Minister announces the signing of the strategic partnership agreement with Macron
» Al-Sudani appoints Laith Al-Athari as a member of the Board of Trustees of the Media and Communicati
» Judge Jaafar reveals the secrets of theft of the century: Politicians and parties in the previous go
» Al-Halbousi concludes his visit to Algeria
» The industry announces the production of 24 thousand tons of asphalt derivatives and an increase in
» Terrifying.. revealing the toll of mine victims in the Kurdistan region
» Education announces the availability of scholarships for foreign students and seats for non-Iraqis
» Reveal the details of the Iraqi-French agreement
» The stability of the dollar exchange rate in Iraq
» The Ministry of Industry announces the formation of special committees to implement the government p
» Al-Sudani and Macron discuss joint cooperation in a number of vital sectors
» Under the auspices of its Minister, Nizar Amidi, the environment organizes an event to launch the Vi
» Iraq.. Overthrowing more than 1,100 dealers and seizing 22,159 kg of drugs during the current month
» The House of Representatives announces the agenda for the next Saturday session
» An official statement reveals the details of the Sudanese and Macron meeting
» Presidency of the Council hinder the discussion of the exchange rate
» Dollar exchange rates in the Iraqi market
» The most prominent contents of the partnership agreement between Iraq and France
» Analysis: 4 reasons prompted Al-Sudani to demand the survival of US forces in Iraq
» The Iraqi judiciary: the main suspect in the tax secretariat case paid about two-thirds of the money
» After the message of the US Federal Reserve to the Iraqi Central Bank... a new strategy to combat "m
» The Kurdistan region is negotiating with the Iranian opposition parties to stop their activities in
» Economist: 14% for Kurdistan in the 2023 budget, in exchange for the delivery of 150,000 barrels of
» Minister of Labor: We are keen to provide the best services and we do not want to pass poverty on to
» Trade: Government movement led by Al-Sudani to control food prices
» Iraq second.. a list of the countries that import the most from Iran
» Kurdistan Parliament: The decision of the Federal Court will negatively affect the rapprochement bet
» KTFA Wednesday Night CC with Frank26 "Numbers" 1-25-2023
» Al-Halbousi is heading a parliamentary delegation to participate in the meeting of the Organization
» Disclosure of the details of the framework agreement with the Sudanese to dismiss the central govern
» American report: The Kurdistan government allowed the Turkish bombing of its lands as a metaphor for
» Reuters: A close victory for Al-Sudani through a French-Qatari deal worth $27 billionproposals from
» Ina / Al-Jubouri: America considers leaving Iraq as its loss to the Middle East
» Aware / Al-Shammari: Fruitful cooperation between Iraq and Jordan in controlling borders and combati
» State of law: Finance Minister Taif Sami prevented the sending of money to Kurdistan a month ago
» After a day of protests in front of the Iraqi Central Bank.. the dollar prices stabilized at 161 tho
» Integrity opens the file (investment portfolio) between retirement and Qi Card and returns more than
» Al-Dari: We trust Al-Sudanese ability to find "constitutional alternatives" that respect the decisio
» The deputy speaker of the Iraqi parliament calls on the political forces to take a stand on the deci
» A travel ban was issued against the former agent of the Iraqi Intelligence Agency, Ahmed "Abu Raghee
» An analysis detailing the significance of the Sudanese visit to France