What will the budget look like if the price of a barrel of oil is calculated at more than $60?
What will the budget look like if the price of a barrel of oil is calculated at more than $60?
10-23-2026
Information/Baghdad…
Economic expert Dr. Safwan Qusay explained what could be achieved in the budget if the price of a barrel of oil were calculated at more than $60.
Qusay told Al-Maalouma, “The minimum price of a barrel of oil in the budget should not fall below $60. With exports exceeding 3 million barrels per day, this would be sufficient to cover public spending on items governed by permanent laws, such as salaries, welfare, pensions, and the food basket.”
He added, “The aforementioned price per barrel and export volume provide the necessary funds to finance the remaining operational expenses, amounting to approximately $5 billion in next year’s budget. There is also the possibility of financing the investment budget with the remaining amount.” He clarified that
“if oil prices rise to the $60 per barrel mark for Iraqi oil, the Central Bank’s reserves can be replenished to their previous levels, and domestic debts can be paid with this surplus. However, if prices and quantities fall below $60 per barrel, Iraq will continue to rely on domestic borrowing and in-kind spending to compensate for the liquidity shortage or to cover expenses governed by laws.”
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