Iraq's economic policy can not cope with the volatility of oil prices

Since 08/08/2015 16:28 pm (Baghdad time)

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Fitch credit rating began to Iraq to cover the classification of "B-" with a stable outlook, pointing out that political instability and security risks in the country's levels of the highest levels among the country classified by the agency.

She added, "Fitch" it expects double-digit deficit in the budget of Iraq in 2015 because of falling oil prices and rising military expenditures and the costs associated with the conflict. "

She noted that "the level of Iraq's dependence on the initial of the highest levels among the countries covered by the ratings agency goods".

She said the "economic policy in Iraq Limited tools are difficult to face the volatility of oil prices."

Iraqi state depends 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%." Ended 29 / d 25