سیاسة

rss

كوردســتانيات

أمـن

مجتـمع

اقتصـاد

عربي ودولي

القسم الفيلي

ريـاضة

منوعـات

فيديو

تقارير وتحليلات

مقـالات

كل الاخبار

Iraqi Oil Minister: $ 80 US/barrel would help Iraq meet the budget's expenditures

Category: Economy

Date: 2021-02-07T07:32:47+0000
Iraqi Oil Minister: $ 80 US/barrel would help Iraq meet the budget's expenditures

Shafaq News / Iraqi Minister of Oil, Ihssan Abdul-Jabbar, considered setting a price of 80$ US/oil barrel suitable for Iraq to meet the federal budget's expenditures.

Abdul-Jabbar said in an interview with Shafaq News agency, "Iraq will export in 2021 about one billion and 100 million barrels of crude oil according to market data. The budget needs 140 trillion dinars", adding, "the price of $ 80 a barrel is the right price to make Iraq can pay the budget dues."

He pointed out "the price of $ 80 is impossible to reach in the current year."

Iraq is under great pressure under the weight of the worst economic crisis it has witnessed since 2003, due to the low oil prices and the outbreak of COVID-19.

However, the minister explained that the price of one barrel would reach 60$ in the first quarter of this year, while in the third quarter, if the vaccine is available worldwide, the price per barrel will reach between 62 and 63 dollars."

Iraq was forced to reduce the value of the local currency against hard currencies, especially the US dollar, to provide the salaries that it paid in the fourth quarter of 2020 through the fiscal deficit law approved by Parliament.

The Iraqi government is struggling to secure employee salaries and other operating expenses due to the collapse in oil prices caused by the pandemic, which has crippled large sectors of the world economy. The country relies on revenues from selling crude to finance more than 90% of state expenditures.

related

WFP and WB partner on socioeconomic research in Iraq

Date: 2021-02-08 18:49:09
WFP and WB partner on socioeconomic research in Iraq

U.S. quietly grants 120-day waiver for Iraq to pay for electricity from Iran

Date: 2021-12-09 11:52:37
U.S. quietly grants 120-day waiver for Iraq to pay for electricity from Iran

U.S. upscales crude imports from Iraq, EIA said

Date: 2021-08-09 10:19:19
U.S. upscales crude imports from Iraq, EIA said

Iraq is India's top biggest oil supplier, February data

Date: 2021-03-15 09:02:31
Iraq is India's top biggest oil supplier, February data

Iraq considering two alternatives after ExxonMobil's exit, Minister of Oil says

Date: 2021-12-09 18:01:35
Iraq considering two alternatives after ExxonMobil's exit, Minister of Oil says

Iraq’ oil exports to the United States decline in the third week of April

Date: 2021-04-24 06:45:55
Iraq’ oil exports to the United States decline in the third week of April

Iran raises oil production in the fields shared with Iraq

Date: 2020-09-15 07:53:37
Iran raises oil production in the fields shared with Iraq

Dollar exchange rates in Iraq

Date: 2021-03-24 07:44:33
Dollar exchange rates in Iraq