Parliamentary Finance: lower oil prices puts our economy on the brink of the abyss and treatment borrowing
Parliamentary Finance Committee warned of the deterioration of the Iraqi economy larger in the case of low oil prices to $ 40 a barrel.
The committee member said Sarhan Ahmad told all of Iraq [where] "no doubt that the fall in oil prices poses a significant threat to the Iraqi economy being dependent on these imports and certainly lower crude prices will affect negatively and significantly As for Aadei doubt that the Iraqi economy will go through a very difficult phase can not be addressed only by borrowing. "
"We are now in the biggest crisis and the deterioration of prices, especially as we are in the war on Daash and these need to expenses and budget and financial support stable Reduced prices affect the war situation and standard of living."
Ahmed stressed "the need to borrow because Iraq on the brink of great economic abyss and can not be addressed only by borrowing also painted in Article No. 2 in the 2015 budget law and the ways to rescue the economy and Iraq without can not prevent its collapse."
The member of the parliamentary finance "the government to study the subject thoroughly and seriously and stand on the weaknesses and take the right actions that depend on the study of economic advisers with experience in order to save the Iraqi economy from deteriorating."
He attributed the economic crisis in Iraq to "unilateral revenues earned by the country from the sale of oil therefore it must be taken seriously to prevent the deterioration of the pension situation for the citizens."
The world oil prices may have seen in the past two daily significantly reduced was the lowest in six years, reaching $ 40, but relatively rose yesterday to reach $ 45.
Iraqi state and it relies on building the annual financial budget by about 90% on imports of the source of oil, and the resulting decline in crude prices since the middle of last year to a significant decline in Iraq's resources reaching its budget in 2015 to $ 100 billion with a deficit expected up to 25%, prompting the government to put up Treasury bonds worth $ 6 billion and borrowing from the International Monetary Fund about $ 1.2 billion in an attempt to reduce this deficit with the continued decline Alasar.anthy 2
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