Economist: Iraq has export resources to mitigate the damage caused by the drop in oil prices.
Economist: Iraq has export resources to mitigate the damage caused by the drop in oil prices.
5-11-2025
Al-Maalomah/Baghdad…
Economic researcher Diaa Abdul Karim explained on Sunday that Iraq has many resources that can be exported abroad and benefit from their revenues, especially oil derivatives.
Abdul Karim told Al-Maalomah, “There is an urgent need to develop oil refineries to ensure that gas is not burned or wasted and to benefit from all derivatives in order to achieve self-sufficiency and export the remainder abroad.”
He added, “The rise and fall in the price of a barrel of oil is the most prominent concern for Iraqi citizens as well as for employees, as everyone is waiting and hoping for an increase in the price of oil, while the government should first move towards exporting derivatives.”
He explained that “Iraq has minerals, natural resources and oil derivatives that can be used to boost budget revenues and reduce dependence on oil as the main source of funding for the budget in order to avoid global market fluctuations and the shocks it experiences from time to time.”
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