The appearance of Muhammad Salih to / Nina /: Ending the Kuwaiti compensation file will add to the budget more than two billion dollars annually
Friday 10 December 2021 20:14 | economic
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Baghdad / NINA / - The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed: "The end of Kuwait's compensation file will add to the budget more than two billion dollars annually."
In a statement to the National Iraqi News Agency ( NINA ), he said: "The end of Kuwait's war compensation, which amounts to 3% of every barrel of oil exported, will add to Iraq's general budget a monthly amount of nearly 200 million dollars, according to current oil prices."
Muhammad Salih explained: "This means about 2.4 billion dollars will be added to the general budget annually, an amount that will inevitably lead to providing part of the country's financial sustainability."
He added: "This amount can be allocated to income-generating investment projects, which enhances part of Iraq's economic situation by relying on its own resources."
The Central Bank of Iraq had announced the termination of the necessary banking arrangements with the US Federal Reserve to stop the automatic deduction of Kuwait's compensation from Iraqi crude oil export revenues.
And he confirmed in a brief statement yesterday: The possibility of paying the entire remaining amount of compensation before the end of the current year 2021 to end this file. /End 3