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Economist: next year's budget facing a big challenge due to the drop in oil price
22/08/2015 10:33 GMT
Special - and babysit - The lion economist Muhammad Ali, that next year's budget facing a big challenge compared to the low price of oil, which makes it Iraq's oil revenues amounting to about one-third its value in the previous two years.
The lion, in a statement to the news agency public opinion (and babysit), on Saturday, "said Iraq's budget for the current year recorded a ratio of more than 90 percent of revenue through oil exports and the price per barrel of current oil makes Iraq's oil revenues equal to about a third from two years ago, which It poses a great challenge to the budget next year and make it operational only in the absence of their ability to finance investment projects after declining state revenues. "
Adding that "if oil prices continue at current levels or increased degradation, the budget for next year will not be built on more than 45 to 50 billion dollars a maximum and that the process of economic reform take a long time to find the equivalent of oil revenues the development of alternatives and imposes the need to combat financial and administrative corruption in all aspects of the state. "
And he pointed out that "Iraq is the current responsibility as the founder of the Organization of Petroleum Exporting Countries to take crucial decisions to reduce production of producer countries to curb the decline in oil prices since the surplus in global oil supply exceeded three million bpd, the biggest surplus in more than two decades and makes the oil market blowing in the wind".
Stressing the need for a senior Iraqi diplomat on OPEC move and other outside oil producers around the world to develop new strategies for the work of the producers of the oil market and the organization of a permit improved its revenue and regain control on the oil market, the fact that Iraq is currently of most countries harmful to the world because of the lack of non-resources enough oil to fill the revenue deficit. "
The delegates to the Organization of the Petroleum Exporting Countries «OPEC», confirmed, that some of the GCC member states in the organization is concerned about the recent decline in oil prices, which was not expected, but they do not see remember to give the organization its policy for the protection of market share opportunity.
Q, Q
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22/08/2015 10:33 GMT
Special - and babysit - The lion economist Muhammad Ali, that next year's budget facing a big challenge compared to the low price of oil, which makes it Iraq's oil revenues amounting to about one-third its value in the previous two years.
The lion, in a statement to the news agency public opinion (and babysit), on Saturday, "said Iraq's budget for the current year recorded a ratio of more than 90 percent of revenue through oil exports and the price per barrel of current oil makes Iraq's oil revenues equal to about a third from two years ago, which It poses a great challenge to the budget next year and make it operational only in the absence of their ability to finance investment projects after declining state revenues. "
Adding that "if oil prices continue at current levels or increased degradation, the budget for next year will not be built on more than 45 to 50 billion dollars a maximum and that the process of economic reform take a long time to find the equivalent of oil revenues the development of alternatives and imposes the need to combat financial and administrative corruption in all aspects of the state. "
And he pointed out that "Iraq is the current responsibility as the founder of the Organization of Petroleum Exporting Countries to take crucial decisions to reduce production of producer countries to curb the decline in oil prices since the surplus in global oil supply exceeded three million bpd, the biggest surplus in more than two decades and makes the oil market blowing in the wind".
Stressing the need for a senior Iraqi diplomat on OPEC move and other outside oil producers around the world to develop new strategies for the work of the producers of the oil market and the organization of a permit improved its revenue and regain control on the oil market, the fact that Iraq is currently of most countries harmful to the world because of the lack of non-resources enough oil to fill the revenue deficit. "
The delegates to the Organization of the Petroleum Exporting Countries «OPEC», confirmed, that some of the GCC member states in the organization is concerned about the recent decline in oil prices, which was not expected, but they do not see remember to give the organization its policy for the protection of market share opportunity.
Q, Q
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