AJ : Two HUGE NEWS ON IRAQ, 5 APRIL

 AJ : Two HUGE NEWS ON IRAQ

Prime Minister’s Adviser Salih confirmed that Iraq’s public finances are safeguarded against oil price fluctuations. 

This is exactly what I do for my clientsI hedge against market downturns, allowing them to profit during declines. Considering the massive volume of oil Iraq sells, it’s clear they’ve strategically hedged their top asset: oil.

Minister of Planning, Muhammad Tamim, announced the completion of preparing budget tables (2025) and sending them to the Council of Ministers. Council of Ministers is Al-Sudani’s Cabinet. They will vote on it then send it to Parliament. They will read it then vote on it.

The Ministry of Finance, in turn, confirmed financial stability by paying salaries on time, as well as paying the salaries of retirees before Eid al-Fitr The government sent new assurances about the financial situation in the country. The Deputy Prime Minister and Minister of Planning, Muhammad Tamim, announced the completion of preparing budget tables (2025) and sending them to the Council of Ministers, at a time when the Prime Minister’s Adviser for Financial Affairs, Zahir Muhammad Salih, confirmed that public finances in Iraq are hedged by fluctuations in oil prices. The Ministry of Finance, in turn, confirmed financial stability by paying salaries on time, as well as paying the salaries of retirees before Eid al-Fitr. In a meeting with the Parliamentary Finance Committee, the Minister of Planning confirmed that the tables include financing ongoing projects without adding new projects. According to the information the budget of (2025) is expected to reach about (200) trillion dinars with an estimated deficit of (64) trillion dinars. For his part, the financial advisor explained the appearance of Mohamed Saleh that Iraq is hedged 

against fluctuations in oil prices, and that the first quarter of (2025) passed without financial turmoil, while ensuring the stability of salaries and social care, in addition to implementing service projects. Saleh pointed out that "the barrel of oil was priced in the Federal Budget Law for the three years, issued by Law No. (13) for the year (2023), at about (70) dollars, which guarantees the stability of public revenues despite the global economic challenge