Baghdad The economic expert, Jalil Al-Lami, confirmed that there is no clear strategy for the government to deal with the financial abundance that was achieved as a result of the rise in global oil prices.

He told the National Iraqi News Agency (NINA) that the rise in the global oil price was achieved due to the world’s recovery from the Coronavirus pandemic and the outbreak of the Russian-Ukrainian war.

Al-Lami added: The government should maintain the accumulated financial balance as a result of the rise in oil prices and the recovery of oil exports until the approval of the strategy for repaying the public debt for the years (2022-2024), which was prepared by the Ministry of Finance and discussed months ago in the Council of Ministers, and its fate is not known so far.

He explained that the Council of Ministers sought to ensure the passage of the Food Security Law, which would be at the expense of Iraq’s opportunity to pay off the accumulated debts and achieve financial sustainability.

Source: National Iraqi News Agency