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Increase oil production to meet the fiscal deficit
4/15/15
The increase in production is necessary, Iraqi consumer prices to cover the deficit and filling in the global oil market.
BAGHDAD / Obelisk: stressed financial Allhna parliamentary member Hossam punitive, that the oil ministry was not able to produce the quantity planned to bridge the fiscal deficit of the country, noting that the Iraqi bound to increase production and export of oil as a solution Annie government.
According to media sources, seen by the "Obelisk", Wednesday, punitive "The increase in production is necessary, Iraqi consumer prices to cover the deficit and filling in the global oil market, which had a negative impact on the budget year 2015," he said.
He added that the punitive "So far, the oil ministry has not been able to reach the planned figure in the production of more than 3 million barrels of oil, causing a new monthly deficit is added to the price of oil."
He punitive "The work of the State focused on oil imports, which represent 85% and do not work on other imports amounting to 15% represented by the taxes, fees and other ministries, which did not provide all amounts to the state because of their need to disbursements, but the real dependence on oil revenues amounted to 93% ., explaining that it must be the adoption of a new economic policy for the country to curb the crisis. "
The global oil prices fell to half the impact of an increase in the global supply of oil-producing countries.
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