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Fears of Iraq affected the global economic crisis
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29/11/2011
BAGHDAD - Al Sabah
Attribute most of the specialists in economic affairs to that the most prominent economic crises that occur globally due to the collapse of oil prices in world markets, which may damage the Iraqi economy, which often Iatmdbashkl almost entirely on oil revenues to finance Moisnath financial, warning that the fluctuations in the price of oil may lead to confuse the reality of economic development and the Iraqi significantly in the event they occur.
He called professionals need to anticipate these conditions to be expected through the development of contingency plans and alternative to support the financial budgets of the country, stressing the importance to revive some aspects of productive non-oil that can block part of the needs of the country's financial, revealing what the industrial and agricultural sectors of the important role to enable the country to fill their needs First, the internal and export the surplus that can come back with money that good of Iraq II.
In the meantime, the specialists from the crisis of the euro area has been the world into a new economic crisis similar to that which occurred in 2009 and which led to the collapse of world oil prices, resulting in a reduction of Iraq's budget three times in a row at the time.
The Hdhiredo the Finance Committee and Member of Parliament Ibrahim al-Mutlaq of Iraq affected the global economic crises, stipulating that a single, calling for: development of future solutions to avoid them.
Mutlaq said in a press statement: It is likely that the world is experiencing economic crisis, new and be stronger than the previous and Iraq will be affected by being dependent Baaradath annual oil only, pointing out: that the global economic crisis resulting from low Saralnaft in global markets will affect the Iraqi economy as Rieia .
He called on al-Mutlaq, the Federal Government and the Parliament to put an exact calculations and future solutions by adjusting the annual budget according to a study of accurate scientific puts advisors, and international experts to estimate the price of a barrel of oil, which depends on the basis of the budget for the purpose of avoiding the economic crisis and the reduction of gravity. He pointed out that this effect will be immediate because the Iraq is part of the world and when there is a global economic crisis, Iraq is inevitably affected by the fact that this crisis are kept on the countries that produce oil, stressing that Iraq is supported entirely dependent on oil and does not have a supplier else of oil, both (10 percent) from other sectors such as taxes and customs duties are added to the budget.
And reliable economists on the role that can be played by the Iraqi private sector in moving the wheel of development in the country, but the economists stressed that the sector still needs a lot of support to be able to compete with goods and imported materials, which flooded the local market, noting that the most prominent means of support lies in the issuance of a package of decisions that work to control the introduction of goods across the Iraqi border and to provide financial support and facilitate many routine procedures, as well as given an opportunity to enter an investment partnerships with foreign companies or investors wishing to work in Iraq.
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