During 240 sessions…an expert shows the volume of dollar sales required to implement the 2023 budget
During 240 sessions…an expert shows the volume of dollar sales required to implement the 2023 budget
3-30-2023
Information / special..
Today, Thursday, the economist, Nabil Jabbar, explained the volume of dollar currency sales required within a year to implement the 2023 budget, while he stressed that the government may fall into a “critical” situation as a result of its inability to spend the planned.
Jabbar told Al-Maalouma agency, “The implementation of the 2023 budget submitted by the government to Parliament requires that the Central Bank of Iraq conduct sales of dollar currency through its window, estimated at 550-600 million dollars per session.”
He added, “The number of sessions required to sell this number during one year amounts to 240 sessions,” noting that “the Iraqi market may not be able to respond to this volume of sales despite the increase in public spending.”
The economist explained: “It is unlikely that the demand for hard currency for import purposes will exceed 250-300 million dollars per session,” stressing that ”
And the Prime Minister, Muhammad Shia Al-Sudani, had submitted the draft budget for 2023 to the Presidency of the House of Representatives; To vote on it inside the dome of Parliament.
The deficit in the current year’s budget was estimated at about 63 trillion dinars, which is the largest in the history of Iraq, while the price of one barrel of oil was set at $70, which raises concern among the Iraqi people. As a result of the instability of global oil prices
almaalomah.me
