Economist: Every dollar higher in a barrel of oil supports the budget of one trillion dinars annually

[size=24]Economist: Every dollar higher in a barrel of oil supports the budget of one trillion dinars annually [/size]
 

 
 
[size=16]19:05 - 25/02/2021
 
 
The economic expert, Faleh Al-Zubaidi, confirmed, Thursday, that [size=16]the rise in oil prices by one dollar saves the budget one trillion dinars annually, which contributes to bridging the budget deficit.  Al-Zubaidi said to / the information / that "the government has rushed and made many taxes available in the budget, and Parliament can take it into account before voting after the high oil prices and not burdening the citizen with it." [/size]
He added that [size=19][size=19]"the rate of what high oil prices provide for the budget is estimated at one trillion Iraqi dinars for every dollar annually, which means that the deficit is completely filled," noting that "imposing taxes is a matter that must be reviewed on many budget items."[/size] [/size]
Al-Zubaidi explained that [size=16]"the increase in the price of the dollar is the other must be reviewed by the government after it has achieved large profits from it at the expense of the poor citizen and its lack of need to order the rise of oil." [/size]
The Parliamentary Economic Committee announced, on Wednesday, that there was no need to raise the exchange rate of the dollar after the increase in the price of a barrel of oil.




https://www.almaalomah.com/2021/02/25/522482/


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