After the global decline.. Disclosure of the price of a barrel of oil in the budget

After the global decline.. Disclosure of the price of a barrel of oil in the budget

12-21-2022

After the global decline.. Disclosure of the price of a barrel of oil in the budgetInformation / special.
Today, Wednesday, the representative of the State of Law coalition, Muhammad Al-Ziyadi, revealed the price of a barrel of oil that will be fixed in the general budget law for approval, while he confirmed that the drop in international oil prices worked to reconsider it and it will be a little less than 60 dollars.

Al-Ziyadi said in an interview with Al-Maalouma, that “the decline in international oil prices made the Ministry of Finance reconsider fixing the price of a barrel of oil, which was worth $75 in the general budget law,” noting that “the price of a barrel that will be fixed is around $60 or a little less than This number.”

And he continued, “There are fears from the Ministry of Finance in fixing the price of a barrel as a result of Iraq’s dependence on oil, at a rate of 90% of the general budget.”

And that “changing the price of a barrel of oil in the budget will have many repercussions, including changing the size of the budget, the amount of projects that will be included in it, and many other paragraphs.”

It is worth noting that oil prices during this period recorded fluctuations tending to decline compared to what they were in the previous periods, when prices reached $105 per barrel, and this revived Iraqi oil revenues, as it was possible for the price of a barrel to be fixed between 70 to 75.

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