Baghdad Member of Parliamentary Finance Committee Jamal Cougar stressed the importance of taking advantage of oil price differences to improve the financial and economic reality in the country.

He told the National Iraqi News Agency (NINA) that this year’s budget was built on the price of 45 dollars, and now the price of a barrel of oil is close to 70 dollars, and this difference in prices is important in improving the country’s situation.

Cougar added that oil price differences will enhance the bank’s foreign exchange reserves, in addition to greatly reducing the budget deficit.

The price of Basra oil recorded a noticeable increase in the recent period, exceeding $ 70 per barrel.

Source: National Iraqi News Agency