In the parliamentary energy Member: countries control oil prices and economic plan should not rely on it preparation
8/24/2015
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Stressed the Commission on oil and energy parliamentary member Mazen Mezni, the need to develop an economic plan that does not rely entirely on the export of oil.
Said Mezni, he told all of Iraq [where], "The oil policy today is subject to speculation among a number of oil-producing countries, rise of a barrel of oil and falling controlled by some countries," expected "price increases in the coming days, Just as there was a decline would be high." . "There is a supply and demand and price increases based on speculation," pointing out that "the oil decline expected for the Strategic Plan of the State, which should not depend for its budget entirely dependent on oil and this is what we noted to him." He stressed Mezni on the need to "be there economic plan is not totally dependent on the export of oil.
"The global oil prices may have seen in the past three days, a significant decrease is the lowest in six years, amounting to $ 40, but relatively rose the day before yesterday to reach $ 45. adopts the Iraqi state in the construction of the annual financial budget 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 about $ 100 billion deficit expected up to 25%, prompting the government to launch 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 Alosar.anthy 2


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