Financial abundance... An economist determines the aspects of spending to "supply the economy's capacity"
August 23 19:57
information / special
The economic expert, Safwan Qusay, called on the Iraqi government to raise oil exports to China from 100 to 300 thousand barrels per day because of a surplus in the general budget.
Qusay said in an interview with Al-Maalouma that
"the bank account of the Chinese agreement with Iraq amounts to 10 million dollars, and
this will increase the ability of the Iraqi economy to cope with economic fluctuations," stressing that
"Iraq needs strategic projects in light of the financial abundance caused by high oil prices."". He added,
"The agreement will work on the projects announced by the Ministry of Planning through the evidence it collects." And he added,
"Iraq must build projects with sustainable returns, and
this is what the Chinese agreement provides if it is implemented correctly without the interventions that foreign agendas are working on to thwart the agreement."
It is noteworthy that
Iraq and China signed a multilateral agreement in 2019, which included exchanging oil revenues for the implementation of a package of projects in Iraq, by opening a credit account in a Chinese bank, to deposit oil revenues of 100,000 barrels per day in order to disburse them to Chinese companies that implement projects in Iraq,
The agreement extends for 20 years, and focuses on
- infrastructure projects,