Parliament to allocate 5% of the surplus oil prices to the petrodollar project

Iraq Iraqi Parliamentary Finance Committee

2021-07-05T14:59:55+00:00

Shafaq News/ The Parliamentary Finance Committee revealed allocating 5% of the surplus oil prices specified in the budget law to the petrodollar project.

Committee member Sadiq Madloul told Shafaq News Agency, "The price of oil calculated in the general budget law is 45 dollars per barrel, but the price of a barrel has reached 70 dollars today, so 5% of the price difference has been allocated to the Petrodollar Fund project."

"The petrodollar fund is dedicated to the oil-producing governorates, and the remaining differences from the price specified in the budget law will be allocated to solve the issue of the fiscal deficit in the 2021 budget and the first and second borrowing for the year 2020".

Madloul indicated that the availability of financial liquidity will make us resort to the supplementary budget to complete the dues allocated to the ministries and governorates according to the fiscal year.

Parliament to allocate 5% of the surplus oil prices to the petrodollar project

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