Government Advisor: Oil May Reach $ 125 A Barrel
Government Advisor: Oil May Reach $ 125 A Barrel
01/18/2022 | 10:36 AM
The Information/Baghdad…
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, suggested, on Tuesday, that the price of a barrel of oil would reach 125 dollars, while noting that the Central Bank’s initiative to support medium and small projects with an additional trillion dinars falls within its policy within the limits of economic recovery.
Saleh said in an interview seen by / the information /, “The main task of the Central Bank is to fight deflation and stimulate local economic activity after the 2014 recession due to the entry of ISIS into Iraq, and then the drop in oil prices, which produced depression in the market and high unemployment rates,” pointing to The Central Bank’s initiative to support medium and small projects with an additional trillion dinars falls within its policy within the limits of economic recovery with other policies of the government in the field of small projects, and of course, the lending banks are the ones who evaluate the investor and determine his ability to pay, which is one of the administrative obstacles.
He added, “The hypothesis of rising prices to annual rates of approximately $125 per barrel requires opening the budget to employment-generating and income-generating projects, whether from the state’s investment budget or supporting private sector investment activities produced with soft loans from budget revenues.”
And Saleh called for “the establishment of a fund or account concerned with the stability of the budget, and it is fed annually with a percentage of the surplus oil revenues, to face the risk of a decline in oil prices in unexpected future conditions on the activity of public finances and within the cycle of oil assets.” finished/25
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