Economic rise of oil prices will save Iraq 20 trillion dinars
5/9/2018


KUWAITMIDIA – The parliamentary economic committee confirmed on Wednesday that the high price of oil will provide Iraq about 20 trillion dinars if it continues to rise until this year, indicating that the surplus that will be achieved from the rise of oil will eliminate the budget deficit.

"The budget of 2018 approved the price of a barrel of oil 46 dollars amid a large budget deficit," noting that "the recent rise and reach the threshold of 70 dollars for Iraqi oil will provide Iraq more than 20 trillion dinars if the rise or stability of this case To the end of this year. "

Najib added that "the surplus that will be achieved from the rise of oil will eliminate the budget deficit with the achievement of financial abundance," asserting "the possibility of using this investment projects."

She added that "the financial abundance will strengthen the position of Iraq to the International Monetary Fund and concerns that it has the inability of Iraq to repay the recent loans."

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