The rise in oil prices boosts Iraq's revenues and supports the absorption of new appointments.

The financial advisor to the Prime Minister, Muthar Mohammed Saleh, confirmed today, Tuesday, that the rise in oil prices and the increase in exported quantities contribute to enhancing Iraq's financial revenues and approaching the financial breakeven point for the operational budget. He pointed out that the savings generated from financial and monetary policies can help absorb new appointments. Saleh stated in a statement to the Video News Agency, which was followed by the Video News Agency, that the financial breakeven point depends on spending ceilings, indicating that securing essential operational expenses is a priority given the current economic conditions and geopolitical tensions. He explained that operational expenses include salaries, wages, pensions, social welfare, and dues for farmers and contractors, in addition to electricity maintenance costs, municipal services, and other government obligations. He added that the rise in oil prices, along with the increase in exported quantities, leads to greater financial returns, enhancing the state’s ability to cover its financial commitments and approach the breakeven point for the operational budget. He emphasized the importance of directing financial savings towards covering expenses according to government priorities, without resorting to borrowing, and pointed out the need to consider the average annual oil revenues when assessing the state's ability to cover its expenses. Regarding new appointments, Saleh clarified that financial and monetary policies and previous measures have contributed to achieving savings that can help accommodate the proposed job grades. He warned that relying on about 90% of the general budget revenues on oil makes Iraqi finances susceptible to fluctuations in energy markets and regional developments, stressing that the current phase represents a test of the country's ability to manage its financial resources and achieve the highest returns with the least losses, ensuring the continuation of government commitments and maintaining economic stability.