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The national currency has been strengthened...the rise in oil and US Treasury bonds Will they return the dollar's exchange to its predecessor?
182 Economie 2022/04/25 21:22
Baghdad today - Baghdad
Today, Monday, the expert in Iraqi economic affairs, Malaz Al-Amin, stressed the need for the Iraqi government to invest the surplus funds from oil revenues, after it increased significantly.
Al-Amin said, in a statement to (Baghdad Today), that "it is necessary for the government to invest the surplus money from oil revenues in projects that generate profits and contribute to providing thousands of job opportunities,
especially as a result of the Russian-Ukrainian crisis and the fear of European countries about the difficulty of obtaining an alternative to gas and oil."
Oil prices rose in the global market and exceeded $100 per barrel, and this matter also includes Iraqi oil and will contribute to increasing financial revenues in exchange for oil exports.”
And he indicated that "the currency used to export oil is the US dollar, and
with the rise in the price of a barrel, Iraq's revenues from the dollar will also increase,
which will enhance the strength of the Iraqi dinar against the dollar,
just as Iraq invested, during the past week, more than 23 billion dollars in US treasury bonds.
This investment will enhance the strength of the national currency against the US dollar."
The expert added that "the Russian-Ukrainian crisis may end and oil prices will return to their previous levels,
which requires the government to invest this surplus money in projects that generate profits and contribute to providing thousands of job opportunities as soon as possible."
The national currency has been strengthened...the rise in oil and US Treasury bonds Will they return the dollar's exchange to its predecessor?
182 Economie 2022/04/25 21:22
Baghdad today - Baghdad
Today, Monday, the expert in Iraqi economic affairs, Malaz Al-Amin, stressed the need for the Iraqi government to invest the surplus funds from oil revenues, after it increased significantly.
Al-Amin said, in a statement to (Baghdad Today), that "it is necessary for the government to invest the surplus money from oil revenues in projects that generate profits and contribute to providing thousands of job opportunities,
especially as a result of the Russian-Ukrainian crisis and the fear of European countries about the difficulty of obtaining an alternative to gas and oil."
Oil prices rose in the global market and exceeded $100 per barrel, and this matter also includes Iraqi oil and will contribute to increasing financial revenues in exchange for oil exports.”
And he indicated that "the currency used to export oil is the US dollar, and
with the rise in the price of a barrel, Iraq's revenues from the dollar will also increase,
which will enhance the strength of the Iraqi dinar against the dollar,
just as Iraq invested, during the past week, more than 23 billion dollars in US treasury bonds.
This investment will enhance the strength of the national currency against the US dollar."
The expert added that "the Russian-Ukrainian crisis may end and oil prices will return to their previous levels,
which requires the government to invest this surplus money in projects that generate profits and contribute to providing thousands of job opportunities as soon as possible."
