Economist: We Are Able To Raise The Price Of Oil In The Budget, And The Government’s Fear Is Unjustified
Economist: We Are Able To Raise The Price Of Oil In The Budget, And The Government’s Fear Is Unjustified
05/02/2022 | 8:50 AM
The Information/Baghdad…
The economic expert, Wissam Al-Tamimi, confirmed that the government has the ability to raise the price of a barrel of oil in the budget to more than $60 a barrel, pointing out that the government has a large financial abundance from the surplus oil prices in the past months, and therefore its fear of raising the price is unjustified. .
Al-Tamimi told Al-Maalouma, “The government may seek a food security law, taking advantage of the surplus oil imports it obtained, while it can enhance food security through the budget and the proper utilization of funds.”
He added, “The government can raise the price of a barrel of oil in the budget at more than $65 a barrel, without any significant concerns, especially since the current price at which it sells oil exceeds $95 a barrel.”
And he indicated that “the government’s fears are not justified unless it seeks to obtain surplus revenues by illegal means, which is what prompts it not to raise the price of a barrel of oil in the budget, although raising the price will not affect the surplus revenue, but rather the government will continue to obtain that surplus even with Raising the price within the budget.” finished 25
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