Economic researcher Diaa Abdul Karim said Iraq has a real chance to increase its income and support the national budget, especially with the ups and downs in global oil markets right now.
He explained that Iraq being allowed to move its oil exports more easily through the Strait of Hormuz is a big advantage. It opens the door for higher oil sales, especially as many Asian countries are now buying more oil from Iraq.
He also pointed out that the oil price used in the last budget was about $70 per barrel, but now prices have gone above $100. That difference means Iraq can bring in extra money and strengthen its financial situation.
Abdul Karim added that Asian countries are some of the biggest buyers of Iraqi oil. Making it easier for their tankers to pass through the Strait of Hormuz and reach ports like Basra will likely boost exports even more.
In simple terms, he believes this is a good moment for Iraq. If handled well, it can increase revenue and help the country deal with future regional and global challenges.
