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Economic Center Expresses Concern About The Decline In Oil Prices
Sunday, 23 August, 2015
Economic Press Center expressed concern about the repercussions of the oil prices’ drop in world on the future of Iraq, which did not make one-step reform and remained dependent on economy unilateral yield based on oil.
The head of the EPC, Therqam Mohamed Ali told the National Iraqi News Agency / NINA / that “the economic reforms are imperative and not an option after the big decline in oil prices, warning that Iraq’s oil revenues may be reduced to one-third next year in light of the deliberate of the major countries in OPEC, including Saudi Arabia, to flooding the global market with an additional of 3 million barrels per day despite stop marketing the Syrian and Yemeni and declining production of Libya.”
He said, “The government has to urgently find development alternatives and form a working group to amend the religious tourism policies and the formation of a Higher Council for Investment hit with an iron fist all of hampering investment or blackmails it.”
He called on all political parties to support economic reform measures to enable Iraq to move forward in its economy and not to collapse because of the inadequacy of the oil revenues, saying the corruption is a serious factor in undermining the country’s infrastructure. ”
The world oil prices have seen, in the past two days, significantly reduction, which is the lowest in six years, reaching $ 40, but relatively rose yesterday to reach $ 45./ End
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Sunday, 23 August, 2015
Economic Press Center expressed concern about the repercussions of the oil prices’ drop in world on the future of Iraq, which did not make one-step reform and remained dependent on economy unilateral yield based on oil.
The head of the EPC, Therqam Mohamed Ali told the National Iraqi News Agency / NINA / that “the economic reforms are imperative and not an option after the big decline in oil prices, warning that Iraq’s oil revenues may be reduced to one-third next year in light of the deliberate of the major countries in OPEC, including Saudi Arabia, to flooding the global market with an additional of 3 million barrels per day despite stop marketing the Syrian and Yemeni and declining production of Libya.”
He said, “The government has to urgently find development alternatives and form a working group to amend the religious tourism policies and the formation of a Higher Council for Investment hit with an iron fist all of hampering investment or blackmails it.”
He called on all political parties to support economic reform measures to enable Iraq to move forward in its economy and not to collapse because of the inadequacy of the oil revenues, saying the corruption is a serious factor in undermining the country’s infrastructure. ”
The world oil prices have seen, in the past two days, significantly reduction, which is the lowest in six years, reaching $ 40, but relatively rose yesterday to reach $ 45./ End
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