Deputy: the budget deficit in 2016 will exceed this year

BAGHDAD / Sky Press: projected member of the Finance Committee parliamentary deputy Ola return Nashi, Thursday, to reach the budget deficit next year, double the 2016 fiscal deficit to balance the current year, due to falling global oil prices negatively impact on Araadat budget.

Nashi said in a statement received "Sky Press," that "it is supposed that the ministries and government institutions and private Moisadtha progress reports of their needs from the budget in 2016, which was supposed to be completed in the months of May and June last two."

"The deficit in the 2016 budget is expected to reach double that amount in the current year budget, and that mainly because of what is directly and that the decline in global oil prices and its impact on Iraq's revenues total, as well as indirect causes, including the chaos in shaping the Iraqi economy." .

Nashi and called for "the need to draw a clear economic policy to be the pillar of all future development and avoid the random and improvised cases of operations."

Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 a barrel, after it was $ 110.

Iraq relies, by 85%, on oil as well as Iran and Russia Almtdharran biggest with Iraq in lower prices, as a result, the Iraqi government was forced to announce, an austere operations, in general in the country in an attempt to fill the budget deficit, as well as the government announced Iraq, reducing the Council of Ministers' salaries 50%.