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Economic: Iraq has the ability to overcome the decline in oil prices
November 19 08:45
Information / Baghdad...
Economic affairs researcher Diaa Abdel Karim confirmed on Tuesday the
possibility of Iraq overcoming any decline in global oil prices, pointing out that
there are many projects that have the ability to cover the decline in oil prices. Abdul Karim said in a statement to the Al-Ma’louma Agency,
“Iraq’s trend to export petroleum derivatives
represents a major qualitative shift and
a new source of revenues entering the state treasury,
instead of
relying entirely on crude oil exports and the country
being affected by any rise or fall in prices.” He added,
"Employees' salaries are insured at the Central Bank and will not be affected by any sudden drop in oil prices, even though
this drop will not last long, especially in light of the presence of an unstable situation in the region that directly affects oil prices." He stated that
"Iraq is on its way to reducing dependence on crude oil exports, as
the trend to export derivatives gives the country an opportunity to achieve much higher revenues from crude exports,
which is something that pushes towards changing policies towards the process of building the budget, whether investment or operation." End25n
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November 19 08:45
Information / Baghdad...
Economic affairs researcher Diaa Abdel Karim confirmed on Tuesday the
possibility of Iraq overcoming any decline in global oil prices, pointing out that
there are many projects that have the ability to cover the decline in oil prices. Abdul Karim said in a statement to the Al-Ma’louma Agency,
“Iraq’s trend to export petroleum derivatives
represents a major qualitative shift and
a new source of revenues entering the state treasury,
instead of
relying entirely on crude oil exports and the country
being affected by any rise or fall in prices.” He added,
"Employees' salaries are insured at the Central Bank and will not be affected by any sudden drop in oil prices, even though
this drop will not last long, especially in light of the presence of an unstable situation in the region that directly affects oil prices." He stated that
"Iraq is on its way to reducing dependence on crude oil exports, as
the trend to export derivatives gives the country an opportunity to achieve much higher revenues from crude exports,
which is something that pushes towards changing policies towards the process of building the budget, whether investment or operation." End25n
[You must be registered and logged in to see this link.]
