Business

Iraq currency reserves expected to exceed $90 bln by year-end, boosted by oil revenue

Iraq’s currency reserves are expected to exceed $90 billion by the end of the year, from $70 billion in April, bolstered by higher oil prices, the state news agency INA cited Finance Minister Ali Allawi as saying on Wednesday.
The country’s foreign currency reserves had dropped to an “alarming” level in 2020, he said, when the COVID pandemic had caused oil prices to collapse. Iraq is a major crude oil exporter.

For the latest headlines, follow our Google News channel online or via the app.

Read more: Iraq will reach oil output targets for May and June: Minister

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Exit mobile version