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An economist stresses the need to diversify sources of income and invest in high oil prices
Monday 30 May 2022 10:56 | economic Number of readings: 198
Baghdad / NINA / - The economic expert, Malath Al-Amin, stressed the need to put the difference in the price of oil fixed in the budget over the selling price in a special account to invest it in huge productive projects that contribute to money circulation, achieving profits and providing thousands of job opportunities.
In a statement to the National Iraqi News Agency ( NINA ), Al-Amin said : “Oil prices in global markets crossed the level of 120 dollars per barrel, taking advantage of the Ukrainian-Russian crisis and the fear of European countries of the possibility of a war that would lead to a halt in energy supplies, which prompted them to boost their energy stocks and increase prices. globally".
He stressed that: “Iraq should benefit from this matter by maintaining the prices set by (OPEC +) so that the rise in energy prices does not cause a rise and inflation in the prices of agricultural and industrial products,” indicating that
the government can put the amount of the price difference fixed in The budget for the sale price is in a special account to be planned and invested in huge productive projects that contribute to the circulation of money, achieve profits and provide thousands of job opportunities, which will contribute to reducing imports, raising the value of the national currency and achieving the required economic development.
“The government is required to work towards Diversify sources of income and reduce dependence on oil exports as a major source of budget financing,
so that Iraq can face the transformation of the global market’s dependence towards clean energy and reduce dependence on oil as its main source. / End 8
An economist stresses the need to diversify sources of income and invest in high oil prices
Monday 30 May 2022 10:56 | economic Number of readings: 198
Baghdad / NINA / - The economic expert, Malath Al-Amin, stressed the need to put the difference in the price of oil fixed in the budget over the selling price in a special account to invest it in huge productive projects that contribute to money circulation, achieving profits and providing thousands of job opportunities.
In a statement to the National Iraqi News Agency ( NINA ), Al-Amin said : “Oil prices in global markets crossed the level of 120 dollars per barrel, taking advantage of the Ukrainian-Russian crisis and the fear of European countries of the possibility of a war that would lead to a halt in energy supplies, which prompted them to boost their energy stocks and increase prices. globally".
He stressed that: “Iraq should benefit from this matter by maintaining the prices set by (OPEC +) so that the rise in energy prices does not cause a rise and inflation in the prices of agricultural and industrial products,” indicating that
the government can put the amount of the price difference fixed in The budget for the sale price is in a special account to be planned and invested in huge productive projects that contribute to the circulation of money, achieve profits and provide thousands of job opportunities, which will contribute to reducing imports, raising the value of the national currency and achieving the required economic development.
“The government is required to work towards Diversify sources of income and reduce dependence on oil exports as a major source of budget financing,
so that Iraq can face the transformation of the global market’s dependence towards clean energy and reduce dependence on oil as its main source. / End 8
