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Parliamentary Finance reveals the effects of the oil price increase and its differences in the 2023 and 2024 budgets
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Economy News - Baghdad
[rtl]Member of the Finance Committee in the Iraqi Council of Representatives, Mustafa Al-Karaawi, revealed today, Monday, the effects of the increase in the price of oil and its difference in the 2023 and 2024 budgets, while he spoke about the fate of the revenues of the difference in the price of a barrel, which is approaching the $10 limit for each barrel sold.[/rtl]
[rtl]Al-Karawi said, "90 percent of the country's revenues depend mainly on oil, and the more oil revenues or the price of a barrel of oil increase, the lower the expected deficit in Iraq's budget."[/rtl]
[rtl]He added, "There is no significant difference between the 2023-2024 budgets, since the government relied on the price difference of about $10 if it based its budget on $70 per barrel and expected the current price to be $80 per barrel."[/rtl]
[rtl]Al-Karawi stated, “The increase in oil revenues will contribute to closing the deficit, and since the expected difference is 10 dollars, coverage of the deficit will be 16 trillion dinars in the 2024 budget.”[/rtl]
[rtl]It is noteworthy that Iraq sells about four million and 250 thousand barrels of oil per day, and needs about 54 trillion dinars in salaries , as the 2024 budget was approved at a barrel price set at $70, while the price of a barrel is currently at $90, which reflects the fluctuations in the oil market.[/rtl]
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Added 07/01/2024 - 5:11 PM
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Economy News - Baghdad
[rtl]Member of the Finance Committee in the Iraqi Council of Representatives, Mustafa Al-Karaawi, revealed today, Monday, the effects of the increase in the price of oil and its difference in the 2023 and 2024 budgets, while he spoke about the fate of the revenues of the difference in the price of a barrel, which is approaching the $10 limit for each barrel sold.[/rtl]
[rtl]Al-Karawi said, "90 percent of the country's revenues depend mainly on oil, and the more oil revenues or the price of a barrel of oil increase, the lower the expected deficit in Iraq's budget."[/rtl]
[rtl]He added, "There is no significant difference between the 2023-2024 budgets, since the government relied on the price difference of about $10 if it based its budget on $70 per barrel and expected the current price to be $80 per barrel."[/rtl]
[rtl]Al-Karawi stated, “The increase in oil revenues will contribute to closing the deficit, and since the expected difference is 10 dollars, coverage of the deficit will be 16 trillion dinars in the 2024 budget.”[/rtl]
[rtl]It is noteworthy that Iraq sells about four million and 250 thousand barrels of oil per day, and needs about 54 trillion dinars in salaries , as the 2024 budget was approved at a barrel price set at $70, while the price of a barrel is currently at $90, which reflects the fluctuations in the oil market.[/rtl]
Views 47
Added 07/01/2024 - 5:11 PM
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