Advisor: Iraq’s financial situation is secure

The Prime Minister’s Financial Advisor, Dr. Mazhar Muhammad Salih, confirmed that Iraq’s financial situation remains within safe limits, despite the repercussions of regional tensions resulting from the Zionist aggression against Iran.

He explained in an interview with “Al-Sabah” that the general budget for the years (2023-2025) was formulated according to a medium-term financial policy, which adopted a clear hedge between an upper spending limit of (200) trillion dinars and a lower limit of more than (155) trillion, to secure the state’s operational and investment obligations.

He explained that the hedge was based on the oil asset cycle, with the inclusion of a hypothetical deficit of (64) trillion dinars to be financed when prices fall, giving the budget the ability to absorb shocks. He added that geopolitical tension raised oil prices by about (10) dollars, which increased revenues, despite the risks associated with the security of navigation in the Strait of Hormuz, through which the majority of Iraq’s exports pass.

Alsabaah.iq