The Iraqi Minister of Finance announces the completion of the preparation of the 2022 budget.. and decides the fate of the exchange rate
The Iraqi Minister of Finance announces the completion of the preparation of the 2022 budget.. and decides the fate of the exchange rate
August 26, 2021 3:13 PM
Mubasher: Iraqi Finance Minister Ali Allawi announced today, Thursday, the completion of the preparation of the 2022 budget, indicating that it will be presented within 3 weeks in the Council of Ministers.
Allawi told the media, according to the Iraqi News Agency (INA), that the price of a barrel of oil in the 2022 budget will be $50.
The Minister of Finance confirmed that “OPEC will add 450 thousand barrels to the production of Iraq.”
And the Iraqi Minister of Finance revealed that the process of changing the exchange rate was not easy, while noting that Iraq came out safely from the difficult economic situation.
He continued: “Iraq’s financial policy during a year and a half passed through five exceptional circumstances,” noting that “we entered the beginning of the government’s work without any financial safety valve.”
The minister indicated that the government is working to control expenditures that are reflected in state revenues.
Allawi stressed that the fiscal and monetary policy is reformist and must be continued, explaining that the fiscal policy aims at balancing oil and maximizing other resources.
He stated that “there is coordination with the Central Bank and cooperation is necessary between the fiscal and monetary policies,” noting that “Iraq came out of the difficult economic situation safely.
He explained that “our last visit to the World Bank did not ask for any loan,” noting that “the Iraqi financial situation is better.”
mubasher.info
