This is how the surplus oil revenues are disposed of

Monday 09 Could 2022 10:50
 
Baghdad / NINA / – The monetary skilled, advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed: “The excess oil revenues will improve arduous forex balances within the Central Financial institution.”

He instructed the Nationwide Iraqi Information Company ( NINA ): “The excess revenues, so long as a part of it’s within the type of monetary financial savings that exceed the necessities for allocation and trade indicated within the efficient monetary administration legislation, it’s thought-about considered one of Iraq’s reserve balances and a supply of power for the Iraqi economic system.”

Muhammad Salih added: “The disposal of the extra revenues is finished in gentle of what’s determined within the normal finances legislation, whether it is issued, after which will probably be deposited in a sovereign wealth fund as said within the efficient monetary administration legislation, and its disposal or funding may also be decided by the legislation.”/ Finish 3

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