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Adopting $56/Barrel For Oil In The Budget Constitutes a Danger To The Country’s Economy
Tuesday, 03 February, 2015
BAGHDAD / NINA / The adviser of private banks association, economist Salam Sumaisem said determining / 56 / USD as price of a barrel of oil makes a challenge for the Iraqi budget and constitutes a danger to the country’s economy.”
Sumaisem said in a statement to the National Iraqi News Agency / NINA /: “The increase spending, with the reduction of prices and lower revenues will be the biggest challenge for the Iraqi economy.”
She projected a major economic crisis in Iraq as a result of lower oil prices and there are no plans to activate economic neglected sectors of the economy and high amounts of armament and popular mobilization.
The House of Representatives has approved on Thursday the state budget for 2015, amounting to 119 trillion dinars and a deficit of 25 trillion dinars, relying price of $ 56 per barrel of oil. / End
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Tuesday, 03 February, 2015
BAGHDAD / NINA / The adviser of private banks association, economist Salam Sumaisem said determining / 56 / USD as price of a barrel of oil makes a challenge for the Iraqi budget and constitutes a danger to the country’s economy.”
Sumaisem said in a statement to the National Iraqi News Agency / NINA /: “The increase spending, with the reduction of prices and lower revenues will be the biggest challenge for the Iraqi economy.”
She projected a major economic crisis in Iraq as a result of lower oil prices and there are no plans to activate economic neglected sectors of the economy and high amounts of armament and popular mobilization.
The House of Representatives has approved on Thursday the state budget for 2015, amounting to 119 trillion dinars and a deficit of 25 trillion dinars, relying price of $ 56 per barrel of oil. / End
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