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Lower oil prices would negatively affect the 2016 budget By Roudao Two hours ago
Roudao - Erbil
Confirmed the decision of the Finance Committee Haji Rashid Ahmed, said the drop in oil prices would negatively affect the 2016 budget.
According to Haji Rashid network Roudao media that "the price of a barrel currently is $ 45, and if less than that down, would negatively affect Iraq's revenues."
He said "every dollar drop in the current price of oil, Iraq's revenues will fall with him one billion dollars a year." He is stressing that "the budget deficit is 29 trillion dinars at a price of $ 45 per barrel."
In turn, the economic expert Nabil Jaafar said the network Roudao media that "the Iraqi budget depends on oil revenues, which determines the size of public spending for the country," noting that "any decline in oil prices negatively impact on the budget."
"He is expected next year, oil prices continue to fall, Iraq will witness the cases of austerity due to increased operational and military expenditures associated with the war against Daash large expenses for foreign companies, estimated at 21 billion dinars, or that 40 percent of Iraq's revenues will go to foreign companies." He is stressing that "it will lead to the widening deficit in the 2016 budget and this goes back to the rentier nature of the Iraqi economy, which depends not only on the oil sector and other sectors neglected the agricultural and industrial sectors such as, among others."
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Roudao - Erbil
Confirmed the decision of the Finance Committee Haji Rashid Ahmed, said the drop in oil prices would negatively affect the 2016 budget.
According to Haji Rashid network Roudao media that "the price of a barrel currently is $ 45, and if less than that down, would negatively affect Iraq's revenues."
He said "every dollar drop in the current price of oil, Iraq's revenues will fall with him one billion dollars a year." He is stressing that "the budget deficit is 29 trillion dinars at a price of $ 45 per barrel."
In turn, the economic expert Nabil Jaafar said the network Roudao media that "the Iraqi budget depends on oil revenues, which determines the size of public spending for the country," noting that "any decline in oil prices negatively impact on the budget."
"He is expected next year, oil prices continue to fall, Iraq will witness the cases of austerity due to increased operational and military expenditures associated with the war against Daash large expenses for foreign companies, estimated at 21 billion dinars, or that 40 percent of Iraq's revenues will go to foreign companies." He is stressing that "it will lead to the widening deficit in the 2016 budget and this goes back to the rentier nature of the Iraqi economy, which depends not only on the oil sector and other sectors neglected the agricultural and industrial sectors such as, among others."
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