17 hours ago
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Former member of Parliament Ahmed Hama Rashid confirmed, on Thursday, that Iraq will adopt the conservative price in its budget for the year 2023, among the most prominent challenges that the country will face.
Rashid said in a press interview seen by “Takadum” that “3 paths determine the price of oil in the annual budgets, which are (optimistic – conservative – pessimistic), but Iraq depends directly on the conservative while meeting the specified quantity for export in order to meet the requirements of the budget and secure all expenses.”
He added, "Iraq is a rentier country, and it is the most affected by fluctuations in the energy markets, and if it does not succeed in diversifying the sources of revenue for the state treasury, it will be exposed to serious challenges in the next stage if oil prices fall below the limits specified in the general budget."
Rashid pointed out that "diversifying sources of public income is very important in order to avoid any dangerous fluctuations in the markets."
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