On Saturday, the Parliamentary Oil and Energy Committee in the House of Representatives reiterated its confirmation that the budget will not be affected by the drop in the price of a barrel of oil to $70.
The representative director of the council, Nehru Mahmoud Qadir, told , “There are concerns on the off chance that the cost of a barrel of oil comes to under $70 in the spending plan for the following year.”
He went on to say, “The price of a barrel of oil was calculated at $70 in the budget for 2024, noting that it will not be affected by the slight fluctuation in oil prices.”
“Employees’ salaries are fully secured even if oil prices fall to $70,” he emphasized.
