Parliament votes on the first article and fixing the dollar exchange rate
The House of Representatives voted on Wednesday on the first article of the budget law, which includes adopting the price of one barrel of oil at 65,000 Iraqi dinars, as well as the exchange rate of the dollar, 1450 dinars per dollar.
The proposal for the first article stipulates the calculation of the price of a barrel of oil at 65,000 dinars without mentioning the determination of the exchange rate, which prompts the fixation of the dollar exchange rate, as proposed at 1450 dinars per dollar.
The article stipulates the following, according to what the committee has proposed, Article -1 – First – a – The revenues of the federal budget for the fiscal year 2021 are estimated at (101320141984) one thousand dinars (one hundred and one trillion three hundred twenty billion one hundred and forty one million nine hundred and eighty-four thousand dinars) As shown in the table / a. Revenues according to the preparation attached to this law.
B – Calculating the estimated revenues from exporting crude oil on the basis of the average price of (65,250) Majlis al-Nuwar (sixty-five thousand two hundred fifty dinars per barrel and an export rate of (3,250,000) barrels per day (three million two hundred fifty thousand barrels per day), including (250,000) barrels Daily (two hundred and fifty thousand barrels per day) for the quantities of crude oil.