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Fear of the repercussions of declining oil prices on the Iraqi economy
Ali Salman - 25/06/2012 PM - 6:23 | Hits: 48
Economic / Buratha News
Oil prices began to decline in global markets during the past few days, prompting experts in economic affairs to express their fears of the implications of this decline on the Iraqi economy
The economist said Bassem Jamil Antoine "The main supplier of the Iraqi economy right now is oil revenues which depend Iraqi budget mainly on oil revenues by 95% and" have been built five-year plan to adopt oil as a major supplier at $ 85 a barrel, but lower global oil prices or any reduction of the pump will confuse the Iraqi resources, which will affect mainly the investment budget. "
According to ministry spokesman Assem Jihad, Oil that "OPEC" of the oil-exporting countries have committed the Petroleum Exporting Countries cut the export does not exceed 30 million barrels per day as a measure to limit the decline in oil prices, and after that has recently overcome some of the countries amounts of oil allocated to them.
The general budget for 2012 and approved by the House of Representatives has adopted the expense of oil per barrel to $ 85.
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