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Economist: Increasing Oil Production Will Add $300 Million To Iraq Per Month
ECONOMIC LAST UPDATE 08/04/2022 | 9:02 AM
The Information/Baghdad...
The economic affairs specialist, Muhammad Attia Al-Saadi, confirmed that the
increase in oil production for the OPEC countries by 100,000 barrels per day will provide Iraq with amounts that may exceed 300 million dollars per month and about 4 billion dollars annually. Al-Saadi told Al-Maalouma,
"Iraq may achieve additional financial oil revenues estimated at three hundred million dollars per month as a result of OPEC's decision to increase production by one hundred thousand barrels per day, starting from next September." He added that
"the value of the additional financial revenues will achieve annually about four billion dollars in the event that oil prices continue within the limits of 100 dollars per barrel." And he indicated that
"the increase in production and prices has brought Iraq huge financial revenues, which are the highest in the history of Iraq," calling for
"investing them in economic development projects away from wasting them in random operational plans and appointments that increase the slack of the government sector." He pointed out
the importance of "setting well-studied plans in the next financial budget to
invest that financial surplus in activating the private sector,
completing lagging projects,
diversifying financial revenues and
increasing the cash reserve."
finished 25
Economist: Increasing Oil Production Will Add $300 Million To Iraq Per Month
ECONOMIC LAST UPDATE 08/04/2022 | 9:02 AM
The Information/Baghdad...
The economic affairs specialist, Muhammad Attia Al-Saadi, confirmed that the
increase in oil production for the OPEC countries by 100,000 barrels per day will provide Iraq with amounts that may exceed 300 million dollars per month and about 4 billion dollars annually. Al-Saadi told Al-Maalouma,
"Iraq may achieve additional financial oil revenues estimated at three hundred million dollars per month as a result of OPEC's decision to increase production by one hundred thousand barrels per day, starting from next September." He added that
"the value of the additional financial revenues will achieve annually about four billion dollars in the event that oil prices continue within the limits of 100 dollars per barrel." And he indicated that
"the increase in production and prices has brought Iraq huge financial revenues, which are the highest in the history of Iraq," calling for
"investing them in economic development projects away from wasting them in random operational plans and appointments that increase the slack of the government sector." He pointed out
the importance of "setting well-studied plans in the next financial budget to
invest that financial surplus in activating the private sector,
completing lagging projects,
diversifying financial revenues and
increasing the cash reserve."
finished 25
