Jihad's / scales News /: lower oil prices affect the budget by 93%

Special - scales News - The spokesman for the Oil Ministry, Assem Jihad, Saturday, that the impact of oil on the Iraqi federal budget up to 93% because it is funded by its President, noting that Iraq is working on the stability of the Iraqi market and to improve oil prices.

Jihad said L / scales News / "The drop in oil prices does not affect Iraq only, but on all oil-producing countries," stressing that "no matter how increased oil production, prices remain discounted nor have a significant impact because the remains volatile."

He said a spokesman for the Oil Ministry that "the price of a barrel reached between the (40-50) dollars and after the economic crisis plan has been put by the ministry to increase production and exports has been achieved the highest export rate in recent months and we passed the three million barrels per day," stressing that "the plan ongoing events to further increases in the coming period and we hope to improve until oil prices are reducing the shortfall in the Iraqi federal budget ratio."

Jihad explained that "Iraq will continue to export oil because he supports it basically is the main financier of the federal budget and thus Iraq with invitations for a meeting and make important decisions to stabilize oil prices and the balance between supply and demand and the return of prices to normal," noting that "Iraq is working on stability Iraqi market and improve prices."

The "The Oil Ministry announced the exporting of crude oil volumes and revenues generated for the month of August, according to preliminary statistics issued by the Iraqi Oil Marketing Company" Sumo, "where the total quantity of oil exports amounted to more than (95.447) ninety-five million four hundred and forty-seven thousand barrels, while revenue generated amounted to approximately (3.874) and three billion Tmnmaip and seventy-four million dollars, ".anthy 29 quarters e