300,000 additional barrels issued on daily basis to increase imports.reduce defyt
Oil: 300,000 additional barrels will be issued on a daily basis to increase imports and reduce budget deficit
News source: Ali Salman
Section: Economic page
October 9, 2015 8:20 am
Oil and Energy Committee, he was discussing the creation of a paragraph within a budget in 2016, to increase the quantities of oil exported volume amounting to 300,000 barrels a day in order to raise revenue to meet part of the budget deficit.
Committee Member said Kawa Mohammed that "quantities of oil exported in the current period cannot bridge the budget deficit and meet requirements for low oil prices was agreed within the budget law to increase those quantities by volume of 300,000 barrels to fill part of the budget deficit and to provide additional funds."
"This increase will stick to the oil Ministry to export abroad, they will support daily oil imports and increase the volume of production, in the sense that Iraq exported about 3 million a day to 700,000 barrels a day which will add increase 300,000 to be 4 million barrels a day.
The increase of export will help increase financial resources will ease the budget deficit. "
He was a member of the parliamentary Finance Committee Faleh Sari said that his Committee had discussed with Finance Minister Hoshyar Zebari general budget and reduce the deficit, adding that the Committee members have made several proposals to address the fiscal deficit ratio to be less than 25 trillion to be realistic, noting that the Finance Minister had explained that the intention of the Ministry of external borrowing, and that talk of him borrowing from banks willing to lend are Iraq and how to pay.