Expert: Iraq’s oil revenues will reach 70 billion dollars by the end of the year
Expert: Iraq’s oil revenues will reach 70 billion dollars by the end of the year
2021.07.03 – 13:26
Baghdad – people
The economist, Manar Al-Obaidi, expected, on Saturday, that Iraq’s oil revenues would reach 70 billion dollars this year.
Al-Obaidi stated in a clarification followed by “Nass” (July 3, 2021), that “the amount of surplus achieved by oil revenues during the first six months of the year amounted to 9.8 trillion dinars, and the size of the surplus is expected to reach more than 26 trillion dinars.”
He added, “The total oil revenues for the first six months of the year amounted to 33.11 billion dollars, knowing that the oil revenues planned in the budget were 26.325 billion dollars.”
He stated, “Despite the significant increase in oil prices, the monthly sales rate did not exceed the 2.9 million barrels per day barrier, although the value of sales planned in the 2021 budget was 3.25 million barrels.”
“It is expected that the total oil revenues until the end of the year will reach 70 billion dollars, which is equivalent to 102 trillion Iraqi dinars,” al-Obaidi said.
He continued, “Despite the rise in non-oil revenues, the specter of the deficit still exists, as the budget planned non-oil revenues of 20 trillion dinars, of which no more than 2 trillion dinars were achieved as a result of the weakness of the procedures followed to maximize non-oil revenues.”
And the economic expert indicated, “In the event that non-oil revenues of more than 10 trillion dinars are not achieved, it is expected that the total revenues by the end of the year will reach 112 trillion dinars. Dinar”.
nasnews.com
