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Economy News - Baghdad
The Parliamentary Finance Committee set, on Wednesday, the appropriate price for selling a barrel of oil within the draft federal budget law for the year 2022, while indicating that the Food Security Law will address the problem of delaying the approval of the budget.
Committee member Mishaan al-Jubouri said, in a statement to the official news agency, that "setting $75 as a price per barrel of oil within the budget is logical in light of the rise in the markets."
He pointed out that "the defect in the delay in approving the budget will be addressed through the Food Security Law, which is being discussed now within the Parliamentary Finance Committee," noting that "the goal of this law is to provide all emergency funds that the government cannot use and spend on them according to the 1/12 system." .
He added, "The coverage of that money is done from the financial abundance due to the rise in oil prices. It goes to the fund in which 25 trillion or a little less will be placed, and the other part goes to repay the public and private debt."
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