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Price of oil set at $50 in 2022 Iraqi budget: advisor

PM:06:34:13/10/2021

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SULAIMANI — Iraqi Prime Minister Mustafa al-Kadhimi's economic advisor said on Wednesday (October 13) that the price of a barrel of oil has been set at $50 in the draft federal budget law for 2022.

Mazhar Muhammad Salh told Iraq’s state-owned al-Sabah that the draft is completed, but has not been discussed by the Council of Ministers because of the government formation process.

He said that the budget process is likely to take more time with the formation of the new parliament, adding that, in case passage of the budget law is delayed, the government will rely on the Financial Management Law that has been implemented for each month of 2021.

(NRT Digital Media)