[You must be registered and logged in to see this link.]
- SATURDAY, 05-28-2022,PM 2:17
- TAYSEER AL-ASSADI
[You must be registered and logged in to see this link.]
Iraqi Finance Minister Ali Abdul-Amir Allawi confirmed that the compass of the Iraqi economy is heading towards development with deliberate steps, after oil sales achieved a financial surplus, and indicated that, "Iraq will have a surplus of the difference in selling oil in the range of 20 billion dollars."
Allawi stressed that, "in light of the current financial abundance, it is unlikely to resort to borrowing," according to the Iraqi News Agency, "conscious."
Economists stressed that Iraq needs to invest the financial surplus in the completion of large development projects, but with a delay in approving the budget for 2022, the investment of this money remains suspended.
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said: "The important investment accelerators are linked to the budget law for the year 2022, through the new investment spending doors and new investment programs, and not by spending 1/12 of the actual current expenditures in the year 2021," according to the agency.
He continued, "The average oil revenue for the year 2022 will increase by no less than 60% of the revenues of oil exports for the year 2021, which means that there will be a large financial reserve available to the state at the end of the year that may exceed 40 billion dollars," noting that "Iraq has been placed at the forefront His priorities, which seek to enter the prospects of development and accelerated development, are to transcend the stage of the rentier economy or the mono-economy, as crude oil still constitutes the largest weight in the components of the gross domestic product.
Saleh explained that "the five-year and ten-year economic and social development plans are the ones that determine the sectoral and overall growth rates in order to bring about a fundamental change in the contribution of the vital productive sectors other than the crude oil sector to the gross domestic product, which is what is called diversifying the production structure of the overall economy."
He added, "It is expected that the continued recovery of oil prices will increase these reserves to more than 90 billion dollars by the end of 2022, which is a record level for Iraq," noting that "the depreciation of the Iraqi dinar against the US dollar in December 2020 contributed to the decline in demand." On the US dollar, while the current demand for the dollar is higher than the declines seen in 2020, it is much lower than the period before 2020.”
He pointed out that "the continuation of the Ministry of Finance's sales in US dollars reflects the increase in oil revenues, and the increase in the government's provision of goods and services to citizens," stressing that "the increase in the Ministry of Finance's sales of US dollars in exchange for a decrease in the demand for the dollar will lead to an increase in foreign currency reserves with the Central Bank."
For his part, the economic expert, Nabil Jaafar, said: "There is a new wave of rising crude oil prices, and it is possible to invest this to break the financial constraint that prevents real economic development, and invest large sums that can be allocated to activate the investment side and establish some strategic projects that generate goods and services. affecting the achievement of a qualitative leap for the Iraqi economy,” according to the agency.
He pointed out, "The importance of working to establish a sovereign fund and a financial and economic buffer, because the rise in oil prices will not continue, and we will face in the coming years factors of a decline in prices, so this fund is important to maintain to ensure the future for future generations."
[You must be registered and logged in to see this link.]
Yesterday at 1:54 pm by Rocky
» Integrity and the Financial Supervision Bureau agree to activate the cooperation agreement between t
Yesterday at 5:06 am by Rocky
» Al-Mashhadani faces 170 suspended laws.. Will they be approved or deported?
Yesterday at 5:04 am by Rocky
» Parliamentary demands to cancel the security agreement with Washington
Yesterday at 5:02 am by Rocky
» MP: Oil derivatives smuggling has decreased by 80% in Iraq
Yesterday at 5:00 am by Rocky
» After years of controversy, the Minority Protection Act is submitted for the first reading
Yesterday at 4:59 am by Rocky
» Al-Sayhoud: The ministerial reshuffle is useless for several reasons
Yesterday at 4:58 am by Rocky
» Iraqi government makes changes to the General Secretariat: Al-Juhaishi succeeds Al-Halbousi
Yesterday at 4:56 am by Rocky
» Extension of the legislative term of the Iraqi parliament for an additional month to pass laws
Yesterday at 4:55 am by Rocky
» Prime Minister: The necessity of strengthening Iraq's position to be at the forefront of the region'
Yesterday at 4:52 am by Rocky
» Parliamentary Transportation: We are determined to pass the Civil Aviation Authority Law
Yesterday at 4:50 am by Rocky
» Baghdad Council: Study of the reality of companies applying to implement projects
Yesterday at 4:49 am by Rocky
» Water Resources announces its control over the oil slick in the Tigris River
Yesterday at 4:48 am by Rocky
» Reconstruction: A new government vision for distributing serviced lands among those entitled to them
Yesterday at 4:47 am by Rocky
» Parliamentary Immigration Committee demands increasing the amount of the return grant
Yesterday at 4:44 am by Rocky
» Accreditation of specialized graduates to support quality control
Yesterday at 4:42 am by Rocky
» Heritage markets and buildings in Mosul after its reconstruction
Yesterday at 4:41 am by Rocky
» Specialized committee to ensure acceptance of cybersecurity outputs
Yesterday at 4:40 am by Rocky
» The Ministry of Interior issues mechanisms to regulate the work of private security companies
Yesterday at 4:39 am by Rocky
» Baghdad Council: Study of the reality of companies applying to implement projects
Yesterday at 4:38 am by Rocky
» Welcome to the trends of establishing an administrative capital
Yesterday at 4:36 am by Rocky
» Securities trade more than 88 billion shares
Yesterday at 4:34 am by Rocky
» Focus on the banking sector
Yesterday at 4:33 am by Rocky
» Imports and dependence on oil are obstacles to Iraq’s accession to the World Trade Organization
Yesterday at 4:32 am by Rocky
» Launch of the International Chamber of Commerce in Iraq
Yesterday at 4:31 am by Rocky
» Private sector and housing projects
Yesterday at 4:30 am by Rocky
» Sovereign guarantees... a trend that promotes national industries
Yesterday at 4:29 am by Rocky
» Development of tax policies and laws
Yesterday at 4:28 am by Rocky
» Basra Council reviews the mechanisms of the smart transformation system that the Ministry of Electri
Yesterday at 4:26 am by Rocky
» Against the backdrop of the rise in the best subscriptions...Nineveh Council: Fuel quotas for genera
Yesterday at 4:25 am by Rocky
» Trade: Launching the International Chamber of Commerce branch in Iraq
Yesterday at 4:24 am by Rocky
» Parliament.. A new political path under the leadership of President Mahmoud Al-Mashhadani
Yesterday at 4:22 am by Rocky
» ommunications and Media Commission implements 54 projects to serve more than 162 thousand beneficiar
Yesterday at 4:20 am by Rocky
» The Coordination Framework comments on the expected ministerial amendment: Information is exclusivel
Yesterday at 4:18 am by Rocky
» Al-Sudani receives draft memorandum of understanding to establish the Supreme Ministerial Council be
Yesterday at 4:17 am by Rocky
» Interior Minister discusses with Iranian counterpart in Tehran common files between the two countrie
Yesterday at 4:16 am by Rocky
» Integrity and the Financial Supervision Bureau agree to activate the cooperation agreement between t
Yesterday at 4:15 am by Rocky
» Victory Coalition: We call for adopting Imam Sistani’s directives as a document of principles for po
Yesterday at 4:14 am by Rocky
» The expected Kurdistan government.. between accelerating events and complex scenarios - Urgent
Yesterday at 4:12 am by Rocky
» Details of Talabani's meeting with the US Ambassador: The next government is a citizen's government
Yesterday at 4:10 am by Rocky
» "Before the axe falls on the head" .. Al-Sadr warns the Sudanese against adopting the issue of the "
Yesterday at 4:05 am by Rocky
» Iraq announces success in investing 67% of associated gas and converting it into energy
Yesterday at 4:04 am by Rocky
» Parliament overcomes Thursday's trap.. Sessions complain about their personal conditions and seek a
Yesterday at 4:03 am by Rocky
» The Election Commission closes the door to appeals in the Kurdistan elections with 41 appeals
Yesterday at 4:02 am by Rocky
» Trade Bank of Iraq signs a contract with “Hisabi Project” to localize salaries of the region’s emplo
Yesterday at 4:01 am by Rocky
» Baghdad faces a new test to maintain balance.. Threats of Iranian response to Israel from Iraqi terr
Yesterday at 4:00 am by Rocky
» Rafidain and Rashid deny the suspension of electronic payment devices: The service continues
Yesterday at 3:58 am by Rocky
» Al-Sudani agrees to launch an initiative to attract talent in the public and private sectors
Yesterday at 3:57 am by Rocky
» MP: 11 draft laws ready to be presented to the House of Representatives
Yesterday at 3:55 am by Rocky
» Al-Sudani and Al-Mashhadani discuss cooperation between the executive and legislative authorities
Yesterday at 3:53 am by Rocky
» Sudanese agrees to launch an initiative on artificial intelligence
Yesterday at 3:51 am by Rocky
» The dollar continues to rise.. Learn about the exchange rates in the Iraqi markets
Yesterday at 3:49 am by Rocky
» Mechanisms for regulating the work of private security companies in Iraq
Yesterday at 3:48 am by Rocky
» Transport decides to reject partnership between the General Company for Airports Management and the
Yesterday at 3:45 am by Rocky
» What does the Patriotic Union of Kurdistan expect from Mahmoud al-Mashhadani? Al-Sumaria reveals
Yesterday at 3:43 am by Rocky
» MM&C 11/3/24 Launch of the International Chamber of Commerce in Iraq
Sun 03 Nov 2024, 1:50 pm by Rocky
» utube 10/31/24 MM&C Central Bank Governor of Iraq-Monetary Stability Directly Stimulating the Econom
Sun 03 Nov 2024, 7:15 am by Rocky
» utube 10/31/24 MM&C MM&C News Reporting-Security & Stability-Sinjar Allocations-Unprecedented Develo
Sun 03 Nov 2024, 7:15 am by Rocky
» Rafidain and Rashid deny the suspension of electronic payment devices: The service continues
Sun 03 Nov 2024, 7:10 am by Rocky
» Iraq meets a third of housing needs, two directions identified to solve the crisis completely
Sun 03 Nov 2024, 7:06 am by Rocky
» Activating the General Amnesty Law, a summary of the meeting between Al-Mashhadani and Al-Dhari
Sun 03 Nov 2024, 7:03 am by Rocky
» Parliamentary recommendations to change "five" ministers in Al-Sudani's government.. Get to know the
Sun 03 Nov 2024, 7:00 am by Rocky
» The controversy over the “controversial laws” continues.. and Al-Mashhadani confirms: They will not
Sun 03 Nov 2024, 6:58 am by Rocky
» Sunday's currency auction.. 99% of the Central Bank of Iraq's sales went abroad
Sun 03 Nov 2024, 6:56 am by Rocky
» Higher fines and powers.. the most prominent amendments to the expected Civil Defense Law
Sun 03 Nov 2024, 6:53 am by Rocky
» Transport announces completion of initial design phase of development road with its land and rail ro
Sun 03 Nov 2024, 6:51 am by Rocky
» Parliamentary Security: The Intelligence Law is ready.. 3 important paragraphs
Sun 03 Nov 2024, 5:12 am by Rocky
» Central Bank dollar sales rise in today's auction
Sun 03 Nov 2024, 5:10 am by Rocky
» Divided into three... Al-Fatlawi criticizes the Arab and Islamic position towards the aggression on
Sun 03 Nov 2024, 5:09 am by Rocky
» Parliamentary Transport Committee reveals upcoming quadripartite meeting on development path
Sun 03 Nov 2024, 5:07 am by Rocky
» Parliamentary Planning: The ministerial amendment is based on 4 directions
Sun 03 Nov 2024, 5:06 am by Rocky
» "Until the case is settled"... the judiciary suspends the decision to dismiss Al-Karwi from the pres
Sun 03 Nov 2024, 5:05 am by Rocky
» Increasing for a year and a half.. Announcing the results of the investigation into Baghdad's pollut
Sun 03 Nov 2024, 5:03 am by Rocky
» Banking Association: Reducing inflation helped stabilize commodity prices
Sun 03 Nov 2024, 5:00 am by Rocky
» Parliamentary Investment and Development Committee calls for commitment to the “Investment Law”
Sun 03 Nov 2024, 4:58 am by Rocky
» Parliamentary Finance settles the controversy: This is the fate of the appointments file in the 2025
Sun 03 Nov 2024, 4:57 am by Rocky
» Trade Bank of Iraq explains procedures for money transfers and combating money laundering
Sun 03 Nov 2024, 4:56 am by Rocky
» Within three days, Iraq indicates an increase in the number of aircraft landing and crossing the air
Sun 03 Nov 2024, 4:54 am by Rocky
» Public services reveal the reality of the capital.. This is what it needs
Sun 03 Nov 2024, 4:53 am by Rocky
» Population growth and ongoing suffering.. A briefing on the "deteriorating" situation in Baghdad
Sun 03 Nov 2024, 4:53 am by Rocky
» Parliamentary Committee Proposes Attracting Real Estate Developers
Sun 03 Nov 2024, 4:51 am by Rocky
» Direction to transfer beneficiaries of the protection network to the Social Security Law
Sun 03 Nov 2024, 4:50 am by Rocky
» Speaker of Parliament
Sun 03 Nov 2024, 4:49 am by Rocky
» I learned {morning}
Sun 03 Nov 2024, 4:48 am by Rocky
» Al-Sudani directs to establish the concept of (Made in Iraq)
Sun 03 Nov 2024, 4:47 am by Rocky
» Al-Mashhadani to {Al-Sabah}: Controversial laws will be presented unanimously
Sun 03 Nov 2024, 4:46 am by Rocky
» Establishment of Al-Ghadeer Residential City in Muthanna
Sun 03 Nov 2024, 4:44 am by Rocky
» Work: Transferring beneficiaries of the safety net to the Social Security Law
Sun 03 Nov 2024, 4:43 am by Rocky
» The most prominent achievements of the Sudanese government in the education sector
Sun 03 Nov 2024, 4:41 am by Rocky
» Welcome to the trends of establishing an administrative capital
Sun 03 Nov 2024, 4:40 am by Rocky
» Securities trade more than 88 billion shares
Sun 03 Nov 2024, 4:39 am by Rocky
» Focus on the banking sector
Sun 03 Nov 2024, 4:38 am by Rocky
» Imports and dependence on oil are obstacles to Iraq’s accession to the World Trade Organization
Sun 03 Nov 2024, 4:35 am by Rocky
» Preparatory meetings for the 40th session of the Standing Committee for Economic and Commercial Coop
Sun 03 Nov 2024, 4:33 am by Rocky
» Minister of Industry: Our visit program to Basra will include following up on the progress of work a
Sun 03 Nov 2024, 4:32 am by Rocky
» Al-Mashhadani and the Secretary-General of the Iraqi National Project stress the importance of activ
Sun 03 Nov 2024, 4:29 am by Rocky
» Minister of Industry discusses action plan to complete steel plant in Basra and operate it on schedu
Sun 03 Nov 2024, 4:28 am by Rocky
» Al-Sayhoud: Accelerating the implementation of the strategic development road project will advance t
Sun 03 Nov 2024, 4:26 am by Rocky
» Amnesty International issues a “warning” to the Iraqi government over “violations” inside Al-Jadaa c
Sun 03 Nov 2024, 4:24 am by Rocky