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An official at the International Monetary Fund "that public finances in Iraq increasingly vulnerable to falling oil prices and the Government had difficulty in financing the budget plan this year. According to the words of the Reuters report Tuesday.
Said Carlo sdralivic, head of the IMF mission to Iraq "there is a problem of structural fiscal policy relies heavily on oil revenues and this dependence is increasing."
He added that "the trend is worrisome because the price of oil that achieves a balance between income and expenditure is increasing a few years ago."
The Fund estimated last October that "Iraq which depends on crude exports earned about 39 percent of the Government revenues it needs an average of the price of a barrel of oil reached $ 106.1 in 2013 to adjust its budget, up from $ 95 a barrel in 2011 due to the increased expenses".
But Brent currently ranges from about $ 107 a barrel and are expected to decline gradually in the next two years to 103 dollars in 2014 and $ 100 in 2015 with until 1987 the market enjoyed a good supply in oil shale boom in the United States and increase the production of Iraq, according to a survey by analysts.
Sdralivic said "there is another source of concern is the lack of flexibility and there are many aspects of current spending and find his Government sufficient revenue ends up having to reduce investment and this affects negatively the growth with his Parry in the long term," the IMF estimated that Iraq has turned into a deficit of 0.7 percent of gross domestic product last year and the first since 2010, compared with a surplus of 2.5 percent in 2012.
Sdralivic, said that the draft budget for this year by Parliament include a substantial increase in spending on current form and could face difficulty in funding Iraq.
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An official at the International Monetary Fund "that public finances in Iraq increasingly vulnerable to falling oil prices and the Government had difficulty in financing the budget plan this year. According to the words of the Reuters report Tuesday.
Said Carlo sdralivic, head of the IMF mission to Iraq "there is a problem of structural fiscal policy relies heavily on oil revenues and this dependence is increasing."
He added that "the trend is worrisome because the price of oil that achieves a balance between income and expenditure is increasing a few years ago."
The Fund estimated last October that "Iraq which depends on crude exports earned about 39 percent of the Government revenues it needs an average of the price of a barrel of oil reached $ 106.1 in 2013 to adjust its budget, up from $ 95 a barrel in 2011 due to the increased expenses".
But Brent currently ranges from about $ 107 a barrel and are expected to decline gradually in the next two years to 103 dollars in 2014 and $ 100 in 2015 with until 1987 the market enjoyed a good supply in oil shale boom in the United States and increase the production of Iraq, according to a survey by analysts.
Sdralivic said "there is another source of concern is the lack of flexibility and there are many aspects of current spending and find his Government sufficient revenue ends up having to reduce investment and this affects negatively the growth with his Parry in the long term," the IMF estimated that Iraq has turned into a deficit of 0.7 percent of gross domestic product last year and the first since 2010, compared with a surplus of 2.5 percent in 2012.
Sdralivic, said that the draft budget for this year by Parliament include a substantial increase in spending on current form and could face difficulty in funding Iraq.
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