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Parliamentary Energy: Iraq crisis entered an acute bankruptcy because of oil

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Rocky


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Parliamentary Energy: Iraq crisis entered an acute bankruptcy because of oil





11/16/15

BAGHDAD / Sky Press: Private
The Commission on oil and energy parliamentary, Monday, that Iraq has entered a severe crisis as a result of the bankruptcy of the drop in oil prices in world markets, as called for activating the private productive sector and other sectors to address the looming crisis.
A member of the committee MP Kawa Muhammad's "Sky Press," that "the country entered into a sharp bankruptcy because of fluctuating world oil prices and our dependence upon mainly as agriculture, industry and private sectors sectors suffering from neglect and corruption and the management of non-efficient of people are not suitable."
"The solution to the crisis lies in the initiation dead activate the private sector and other sectors and create a balance between the sectors out of the looming financial crisis."
Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 a barrel, after it was $ 110.
Iraq relies, by 85%, on oil as well as Iran and Russia Almtdharran biggest with Iraq in lower prices, as a result, the Iraqi government was forced to announce, an austere operations, in general in the country in an attempt to fill the budget deficit, as well as the government announced Iraq, reducing the Council of Ministers' salaries 50%.

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