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Iraq's economy is on the line and falling oil prices alarming
Economy
01/14/2015
He said economic expert on behalf of Jamil Antoine, on Wednesday, the economic situation in Iraq is at stake, especially after the decline of world oil prices, noting that the government would be unable to borrow before approving the budget.
Antoine said in an interview with the Kurdish News Network (KNN), that the Iraqi government would be unable to borrow now, not internally and externally, because the budget has not been approved in the House of Representatives and therefore do not know what will happen before approving the budget.
Central Bank of Iraq and includes reserves estimated at $ 70 billion, but the government would be unable to withdraw any money until Athbt levels of the value of the Iraqi currency.
He added that after approving the budget, the government can establish mechanisms to borrow, especially that Iraq is at stake after the arrival of the price per barrel to $ 40, which is alarming. And on the Parliament extensive discussions on the budget, economic analyst said that the parliament gave 186 Note intervention but did not include radical solutions to the problem, but the intervention in reducing costs and expenses.
According to parliamentary sources for KNN, that the House of Representatives is preparing a final version of the budget law and then presented to the vote next week, after it has been read twice inside the Dome of the Council, pointing out that Parliament is pressing expenses and reduce expenses to reduce the size of the deficit.
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Economy
01/14/2015
He said economic expert on behalf of Jamil Antoine, on Wednesday, the economic situation in Iraq is at stake, especially after the decline of world oil prices, noting that the government would be unable to borrow before approving the budget.
Antoine said in an interview with the Kurdish News Network (KNN), that the Iraqi government would be unable to borrow now, not internally and externally, because the budget has not been approved in the House of Representatives and therefore do not know what will happen before approving the budget.
Central Bank of Iraq and includes reserves estimated at $ 70 billion, but the government would be unable to withdraw any money until Athbt levels of the value of the Iraqi currency.
He added that after approving the budget, the government can establish mechanisms to borrow, especially that Iraq is at stake after the arrival of the price per barrel to $ 40, which is alarming. And on the Parliament extensive discussions on the budget, economic analyst said that the parliament gave 186 Note intervention but did not include radical solutions to the problem, but the intervention in reducing costs and expenses.
According to parliamentary sources for KNN, that the House of Representatives is preparing a final version of the budget law and then presented to the vote next week, after it has been read twice inside the Dome of the Council, pointing out that Parliament is pressing expenses and reduce expenses to reduce the size of the deficit.
[You must be registered and logged in to see this link.]
