Economist: Iraq’s annual imports exceed 140 trillion dinars

Economist: Iraq’s annual imports exceed 140 trillion dinars

2021-09-16 | 04:38

Economist - Iraqs annual imports exceed 140 trillion dinarsAlsumaria news

The economic expert, Nasser Al-Kinani, confirmed, today, Thursday, that the main problem in each budget is the operational budget allocations, while referring to Iraq’s annual imports, according to oil prices currently, in addition to other revenues, which exceed 140 trillion dinars.

Al-Kinani said in an interview with Alsumaria News, “Next year’s budget is still in the government’s inclusion, and it is supposed to recover with the recovery of oil prices globally, given that the price of a barrel of oil currently has reached seventy dollars per barrel compared to the price in the previous budget, which was drawn on the basis of the price of 45 dollars per barrel, which means that talking about a deficit in it is illogical according to the language of numbers,” noting that “if the price of a barrel of oil is calculated at 70 dollars, this means that the annual income from oil revenues only from crude oil is 72 billion dollars by six billion dollars. A dollar per month according to the monthly export schedules, and it may rise to larger numbers in the event of an increase in oil prices, and it may reach 75 billion dollars, meaning that the oil imports amount to 108 trillion dinars.

Al-Kinani added, “All ministries have revenues in addition to the revenues of border crossings and customs, not to mention other revenues, including oil derivatives from black oil, whose revenues exceed 10 billion dollars annually, white oil, gasoline and kerosene, all of which may exceed fifteen trillion dinars and in total revenues All other, it may exceed forty trillion dinars annually,” noting that “the problem in every budget is the inflation of salaries, especially for the higher grades and the three presidencies, and the privileges they have for these groups. We have not seen it in any country in the world, in addition to not resolving the outstanding financial issues with a region Kurdistan And what is related to oil exports from the region and customs imports and ports there.”

And press statements indicated that the initial price of a barrel of oil in the next budget is 50 dollars, subject to increase and decrease, and that the total amount of the budget is not definitively estimated, but does not exceed 120 to 140 trillion dinars, which is a large number, and the deficit ratio will not be less than the 20 percent based on the supply of requests and expected revenues in the best case.