Warnings from overtaking on the balance of generations of oil
BAGHDAD / obelisk warned preparation of the Strategic and Economic Studies Institute, to increase the production and export of oil rates in light of the drop in oil prices in world markets, while the proposed establishment of a fund deducted from the salaries of employees and retirees an amount of 1,000 dinars per month to reduce the budget deficit.
Said an economist at the Institute Mohammed Hilfi that "the world is going through a big economic crisis pushed Brent crude to unprecedented levels and including the Iraqi economy yield dependent on oil only, the inevitably drop in oil prices would have a negative impact on economic and increases the budget deficit."
He said: "The government's proposal to increase production rates and export of oil will not have a solution to the financial crisis looming, but rather is an attempt to overcome the balance coming from crude oil generations," noting that "there are many solutions to the government can be followed to reduce the potential budget, including the inability of the establishment of a fund financed employees and pensioners where they are deducting an amount of 1,000 dinars from their salaries, a little amount of thought does not affect their livelihood and added to the fund and are paid Batalli deficit through the Fund, in addition to reducing unnecessary spending of state institutions
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