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[size=36]Parliamentary Finance: There are no concerns about employees’ salaries[/size]
Economy | 09:19 - 01/18/2024
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Mawazine News - Baghdad
The Parliamentary Finance Committee reassured employees that oil prices will not affect their salaries, although expectations indicate that the price of a barrel of oil could fall to between 65 and 75 dollars.
Committee member Jamal Cougar said in a statement reported by Al-Sabah newspaper, seen by Mawazine News, that “oil prices are expected to fall to $70, and this means that Iraqi oil is $5 to $7 lower than in global markets.” Pointing out that if the price of a barrel of oil reaches $60, it will affect the country’s economy, but the government will be able to secure salaries because there are other resources estimated at more than $90 billion.
He added that Iraq sells about four million and 250 thousand barrels of oil per day, and it needs about 54 trillion dinars in salaries, indicating that the decline in oil prices will not affect salaries, but it will affect reconstruction and investment significantly.
He called for the 2024 budget to be built on the expected price of oil, whatever it may be, as we will benefit from the surplus in the previous budget or need to withdraw from the bank reserve.
The Parliamentary Finance Committee reassured employees that oil prices will not affect their salaries, although expectations indicate that the price of a barrel of oil could fall to between 65 and 75 dollars.
Committee member Jamal Cougar said in a statement reported by Al-Sabah newspaper, seen by Mawazine News, that “oil prices are expected to fall to $70, and this means that Iraqi oil is $5 to $7 lower than in global markets.” Pointing out that if the price of a barrel of oil reaches $60, it will affect the country’s economy, but the government will be able to secure salaries because there are other resources estimated at more than $90 billion.
He added that Iraq sells about four million and 250 thousand barrels of oil per day, and it needs about 54 trillion dinars in salaries, indicating that the decline in oil prices will not affect salaries, but it will affect reconstruction and investment significantly.
He called for the 2024 budget to be built on the expected price of oil, whatever it may be, as we will benefit from the surplus in the previous budget or need to withdraw from the bank reserve.
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