Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Thursday, that the future outlook for the financial situation in Iraq is stable, while indicating that oil market indicators are still more than 10% above the price specified in the budget until now.

Saleh told the official agency, and Al-Mutla’ followed him, that: “The federal general budget for the year 2024 is still stable, with an expenditure ceiling of approximately 199 trillion Iraqi dinars and allocations in investment expenditures exceeding 25 percent of the total expenditure ceiling, and oil exports are stable at their rates set at approximately Approximately 3.4 million barrels of oil per day, and the price of a barrel for the purposes of calculating budget revenues from exported oil is $70 per barrel,” pointing out that “oil market indicators are still more than the price specified in the budget by more than 10% until the moment.”

He added, “Energy market expectations lead to an increase in the needs of continued demand for crude oil in general,” noting that “the future outlook on Iraq’s financial situation is stable.”

He pointed out that “there is high stability as we enter the second month of the current year, which indicates that the budget is in balance and carries some surpluses, so the situation is stable, good and sound.”

almutalee.com