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Al-Kadhimi consultant sets tracks for investment of financial abundance from high oil prices
Wednesday, March 23, 2022 1:03 PM
National Position / NNC /
Select the prime minister's economic advisor, Mohammed Saleh's appearance on Wednesday, two tracks for investment of financial abundance from high oil prices.
"There are two directions on the employment of the current financial abundance, caused by higher oil prices in the global market and benefit from the growth and stability of the national economy," Saleh said in a statement to the National Center.
He explained that "the first track requires backup financial resources in which the budget is one of any harmful fluctuations against the future oil cycle and an unexpected sudden, and in a manner that maintains the financial sustainability of the country without stumbling in public expenditure and revenues."
"The second direction, requires that the expansion is exclusively in the field of investment spending and projects of national income and helps to operate the labor force and raise economic growth and economic development, according to a minute and balanced financial equation, the Law of Financial Management No. 6 of 2019 Draw their borders and objective settings in maintaining public money, good use and management."
Oil prices are witnessing a significant rise.
The West Texas WTIs for the front month rose $2.18 or 1.94%, to $114.30 a barrel on the NIMEX Stock Exchange, Brent crude futures rose $ 2.51 or 2.26%, to $118.23 a barrel at 04:30 GMT.
Both decades settled by more than 7% on Monday, where more supplies' disorders have affected the market.
Al-Kadhimi consultant sets tracks for investment of financial abundance from high oil prices
Wednesday, March 23, 2022 1:03 PM
National Position / NNC /
Select the prime minister's economic advisor, Mohammed Saleh's appearance on Wednesday, two tracks for investment of financial abundance from high oil prices.
"There are two directions on the employment of the current financial abundance, caused by higher oil prices in the global market and benefit from the growth and stability of the national economy," Saleh said in a statement to the National Center.
He explained that "the first track requires backup financial resources in which the budget is one of any harmful fluctuations against the future oil cycle and an unexpected sudden, and in a manner that maintains the financial sustainability of the country without stumbling in public expenditure and revenues."
"The second direction, requires that the expansion is exclusively in the field of investment spending and projects of national income and helps to operate the labor force and raise economic growth and economic development, according to a minute and balanced financial equation, the Law of Financial Management No. 6 of 2019 Draw their borders and objective settings in maintaining public money, good use and management."
Oil prices are witnessing a significant rise.
The West Texas WTIs for the front month rose $2.18 or 1.94%, to $114.30 a barrel on the NIMEX Stock Exchange, Brent crude futures rose $ 2.51 or 2.26%, to $118.23 a barrel at 04:30 GMT.
Both decades settled by more than 7% on Monday, where more supplies' disorders have affected the market.
