Wednesday, 10/21/2015 1:00
Baghdad news / Abdul Ghani Qahtan Saidi
stressed the economic expert Abdul Rahman al-Mashhadani, the high and low prices of oil in the world markets, as well as the rise and fall in the amount of oil production for Iraq, will have a big impact on the economy over the next three months. "Mashhadani said in an interview for" Baghdad News "that" improvement in oil prices on world markets being more volatile, which rises on the one hand and fall on the other hand, ranging between US $ 48 to $ 50 a barrel, and this rise in the price of a barrel of oil if it was real, it will have a significant impact on the economy improves in Iraq. "He said al-Mashhadani," The quantities exported from Iraq, which amounted to three million barrels of oil a day, is not indicative of an improvement in the Iraqi economy and salvation from the financial crisis is going through now. "He said al-Mashhadani said that" when put in the budget 2015 was the price of a barrel up to $ 54, and now, a barrel of oil is less than $ 40, and this was the primary cause of the financial crisis that the country experienced now, either exported quantities of crude oil by 2015, the budget of three million and three hundred barrels a day, but today decreased to reach number Barrels exporter of oil to below three million a day. "Among Mashhadani that" Iraq is now a financial crisis due to the volatility in oil prices on world markets, as well as the fluctuation of oil production in Iraq, and this subject will be long and have implications negative side of the economy over the next three months. " . Al-Mashhadani said and explained, "improvement in oil prices today temporarily, where rising oil prices in global markets and decline in the next day, and this is a big problem facing the economy, because it is a yield depends on oil to increase its resources, without having any dependence on other sectors productivity and other supporting resources. "He said al-Mashhadani said," What is needed today is to diversify sources of income and the activation and development of national industry, agriculture, trade, tourism, mining and processing of oil and turn it into products to meet the local need and export the surplus, rather than exported as crude oil. "On his part, said economist nice Abdul Salem Ugaili in an interview for "Baghdad News" that "the volatility of global oil prices has a negative effect on the Iraqi economy will continue into next year." He added Ugaili that "oil licensing that took place over the past years, which has affected oil production in Iraq, tours led to the osteoporosis rate production ", adding that" the oil revenues that come from the sale of oil paid to companies that got the license to develop oil fields. "He pointed Ugaili that" any rise in global oil prices will work on the development of national production, and thus have a major impact on the national economy , which will add significant amounts to the state budget, especially when it desperately needed for any resource because of the financial crisis experienced by. "
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