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Does the level of the citizen and oil prices are improved above $80?

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Does the level of the citizen and oil prices are improved above $80?

Saturday 09 October 2021 25

Baghdad: Mustafa Al Hashemi


Global oil prices are still over the $80 barrier, at a time when this means a leap in Iraq's revenues, because the budget has adopted a much less price,

what makes the audience wondering where these differences go and why the level of people do not improve?

"Iraq's foreign debt has been explained by the benefits, which precludes the conclusion of this debt, from oil revenues, to ensure that Iraq has to stabilize its credit rating," said Ammar Mahmoud al-Samarrai.

Oil prices, destined for an increase of 4.5% during the week as a result of indicators on the start of the transformation of some industries from using high price gas as fuel to oil, Brent crude futures jumped 93 cents or 1.1% to $82.88 a barrel with Tokyo Stock Exchange.

"The surplus amount of oil price teams will not serve directly because of the frequent external debt imposed by the situation in previous years," he said. Which touches any improvement in the living situation."

"Activating the private sector will raise gross domestic product into good rates that will achieve stable markets by increasing their employment opportunities, and therefore the private sector will be the biggest unemployment."

"Reducing dependence on oil as a monoclonary supplier will enhance the opportunities for the private sector to operate production sectors, including agriculture and tourism, therefore opens investment doors in front of tourism, agricultural marketing companies and others, to ensure Iraq's elimination of external debt," he said.

"The development of effective plans to get rid of debt and achieve an economic recovery of individuals, which will achieve stability in the economic situation of families and improve its standard of living," he said.

For its part, the relative consideration saw Safwan Qusay, that the government is required to change the compass of public spending and go to investment by activating the reconstruction fund of Iraq, a proposal to dismiss the investment budget from public spending.

"Increasing the level of expenditure due to increased operational spending and not investment, Iraqi state employees rose from 800,000 employees before 2003 to nearly 4 million and 500,000 employees so far, as well as the number of retirees as well as social welfare," Qusay said.

He added that "investment budget figures in the general budget laws for previous years is very shy, stressing the possibility of disengagement of the investment budget for public spending and made it part of the Reconstruction Fund and to be attached to another step for the liberalization of government capital."

"Iraq has invested in government capital and returns is almost not to remember," he said, adding that

"there are funds in the government if their ownership moved to the Iraq reconstruction fund and manage an investment mentality will be able to achieve sustainable development."

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