Economist: Oil revenues confirm that there is no deficit in the budget
Economist: Oil revenues confirm that there is no deficit in the budget
Tuesday 4 May 2021 | 09:28
The economic expert, Wissam Al-Tamimi, said, Tuesday, that what was revealed by the Ministry of Oil from revenues for the past month and with the high exchange rate of the dollar, confirms categorically that there is no deficit in the budget, and if any, it is very slight .
Al-Tamimi said, “The recovery of oil prices is a good indicator that confirms the continuation of the rise after the middle of this year for more than $ 65 a barrel, due to the return of industry and the manufacture of Corona vaccines, which will restore commercial activity to the whole world and bypass the closure in some countries .”
He added that “Iraq, as the largest exporter of oil, has achieved a recovery and great revenue, as well as that the government decided to raise the exchange rate of the dollar in the budget, and therefore the financial deficit has been eliminated and if found, it is very slight .”
Al-Tamimi pointed out that “Iraq faces a great opportunity to revive its economy by entering the newly explored gas export market in Diyala and Anbar, despite the control of some countries over this market.”
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