Parliamentary Finance warns government from its dependence on oil revenues in the budget of 2016

Author: ara Editor: ap reporter: st

05/08/2015 11:59

Tomorrow Press / Baghdad: the parliamentary finance committee confirmed, Wednesday, that the country will face great economic gravity by the lack of study Price speculative for a barrel of oil by the government in the budget of 2016, pointing out that the economic policies used by the government to rely on oil revenues is a failed policy.

The committee member said Masood Haider for "tomorrow Press," that "austerity and the lack of liquidity faced by the Iraqi provinces will continue until the year" in 2016, pointing out that "Iraq will face the seriousness of the financial result of the increase in lower oil prices."

He called Haider "the federal government to find alternatives to bring fiscal revenue by relying on the private sector," adding that "the Ministry of Finance to guess the price of a barrel of oil to balance in 2016 at $ 40 per barrel to be adopted in determining the chapters of the budget."

He added that "if the Ministry of Finance more than that amount would lead to an increase in economic problems."