Fund for generations to Iraq
01/07/2012 0:00
Moves to counter the effects of lower selling prices of oil
BAGHDAD - Muhannad Abdul Wahab
revealed a parliamentary committee on efforts to form a provident fund for future generations in Iraq. The aim of this step, according to a member of the Commission on oil and energy deputy Furat al-Shara to secure funds for each hand in Iraq for the interest during the stages of his life . The idea of establishing a fund for future generations are not new, as you apply to some countries to ensure continuity of economic growth and maintain the adequate standard of living, where the applied such a plan of Kuwait and Sweden for years. Shara said the "Centre Brief for the Iraqi Media Network," that "Iraq is facing a challenge from the Type another is the only outlet for the export economy, the Iraqi economy, rentier, "explaining that" Iraq needs to be alternatives in the export of this economy is important and alternatives in the economic factors other than oil. "and called for al-Shara on the government to rely on other sources, because the wealth of Iraq has Haedrocarbonah large oil and gas offset the deficit in the event happened, "stressing that" the Commission put forward a project fund generations and we will announce this project and how Snguetta of each budget a certain percentage of the Fund for Future Generations, as well as a certain percentage to another project if the exposure export oil to natural disasters or political. "In the meantime, sources told parliamentary "Brief Center for the Iraqi Media Network" With the movements of government and parliamentary quick to counter any effects may be caused by the decline in selling prices of crude oil exported to the outside what is planned. and Organization announced yesterday that the price of OPEC basket of crudes standard reached 90.92 dollars per barrel. Was not surprised by the Economic Committee MP Hussein Almrobei from lower selling prices of oil, said in a statement the "Center Brief for the Iraqi Media Network": that "the changes that have occurred in the area, including the Arab spring and a new election addresses new and new directions cast a shadow over the selling price of crude oil , "stressing that" the drop in oil prices will not affect the budget because the amounts of production continues to increase and there is balance between the amount of production and the low selling price of crude oil. "
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