Advisor to the Prime Minister: Iraq's financial situation is solid and stable

INA-  Baghdad


Midhar Mohammed Saleh, the prime minister's advisor on financial issues, reaffirmed on Thursday that Iraq's financial condition is expected to be stable going forward. However, he also noted that the oil market indicators continue to exceed the budgeted price by over 10%.

Saleh told the Iraqi News Agency (INA) that "the federal general budget for the year 2024 remains stable with an expenditure ceiling of about 199 trillion Iraqi dinars and allocations in investment expenditures exceeding 25 percent؜ of the total expenditure ceiling, and oil exports are stable at their rates set at about 3.4 million barrels of oil per day and at a barrel price for the purposes of calculating budget revenues from exported oil by 70 dollars per barrel," noting that "oil market indicators still exceed the price set in the budget by more than 10%؜ until now".


He went on to say, "The expectations of the energy markets are going to escalate the needs of continuous demand for crude oil in general," adding that Iraq's financial status is expected to remain stable in the future.

He pointed out that "there is high stability as we enter the second month of this year, which indicates that the budget is in balance and carries some surpluses, so the situation is stable, good and solid".