The Parliamentary Finance Committee rules out adjusting the price of a barrel of oil in the budget tables, and reveals the reason.
The Parliamentary Finance Committee rules out adjusting the price of a barrel of oil in the budget tables, and reveals the reason.
04/23/2025 .
The Parliamentary Finance Committee ruled out any amendment to the price of a barrel of oil approved in the general budget.
Committee member Jamal Koujar said in a press statement, “The price of a barrel of oil approved in the budget will not change, because any change requires a comprehensive revision to the budget structure, which means an increase in the deficit, which is already suffering from significant inflation.”
Kocher explained that “reducing the price of a barrel would mean one of two things: either increasing the deficit, which is not possible under the current financial situation, or resorting to deleting many important items from the investment budget, which would harm development plans.”
He added, “If the government adopts a price of $70 per barrel, it will justify Iraq’s sale at less than the global price, which gives it flexibility in managing its approved expenditures.”
Kocher pointed out that “the oil market remains unstable, and no one knows whether the negotiations being conducted by the administration of US President Donald Trump with Iran will lead to a revival of the oil market and a rise in its prices.”
alforatnews.iq
