Samson: Counting On Activating The Chinese Agreement To Revive The Iraqi Economy
15th February, 2022
The economist Diaa Mohsen called, on Tuesday, the next government to adopt the price of a barrel of oil at 70 dollars in the next budget, because it is a reasonable price in light of the high oil prices, noting that the continued rise is an irreplaceable opportunity for Iraq to recover from its economic crisis if followed by a decision to activate the Chinese agreement.
Mohsen said in a statement to “Information”, that “all reports of oil experts confirm that the rise in oil prices will continue or remain at more than 90 dollars during this year and next year, in light of the crisis between Russia and Ukraine, as well as the economic openness of the world and decisions to coexist with epidemic.” He added, “In light of those reports and the reality of oil prices, I call on the next government to adopt the price of a barrel at 70 dollars in the current year’s budget, as it is logical and commensurate with the rise in the oil market.”
Mohsen explained, “Iraq has an irreplaceable opportunity to invest funds in the investment budget and activate all projects that were suspended in previous budgets, and activating the Chinese agreement and advancing infrastructure will be an additional factor to get Iraq out of its economic crisis.”
It is noteworthy that oil prices rose on Monday, heading towards their highest levels in more than seven years, amid fears that a possible Russian invasion of Ukraine would lead, as Brent crude futures reached $95.73 a barrel, after recording earlier the highest level during the day at $95.91. LINK
