Money and business Economy News - Follow-up The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that Iraq's financial and economic conditions are good, and that revenues exceed the size of concerns resulting from the possibility of a decline in global oil prices.
Member of the Parliamentary Finance Committee, MP Jamal Kojer, said in an interview with “Al-Sabah” followed by “Al-Eqtisad News”, that “oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall to less than $70.”
The member of the Finance Committee stressed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis."
“According to the Financial Management Law, the 2024 budget was supposed to be submitted after the middle of October, but there is still a delay in the expected schedules, which may be submitted in the first quarter of next year,” Koger continued. The MP pointed out that “the majority of the 2023 budget has already been disbursed, with 9 trillion dinars disbursed two months ago, while the 2024 budget has not yet been disbursed due to changes in governors and attempts to introduce new projects.”
The member of the Finance Committee added, "As for liquidity, the government has guaranteed the liquidity of salaries, but there is a shortage in the liquidity of projects. However, the projects that have been started will continue, including bridge projects."https://economy-news.net/content.php?id=47985
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