Shahristani: government revenues fell 25% in two weeks because of oil prices

2015-12-17 21:34:58 | (Voice of Iraq) - Baghdad

The Minister of Higher Education and Scientific Research, Hussain al-Shahristani, on Thursday, for the lower than expected government revenues by 25% within two weeks because of lower oil prices, and stressed that the decline in oil prices got out of the control of OPEC, while pointing out that Iraq's revenues decreased to less than a third of what He was in previous years.

Said Hussein al-Shahristani, during an economic seminar entitled (the pillars of the Iraqi economy and its challenges) was held at the headquarters of the Ministry of Education, the center of Baghdad, and attended (range Press), said that "Iraq is going through an economic crisis is unprecedented because of its reliance primarily on oil," noting that "the price of oil dropped large and out of the control of OPEC. "

He revealed al-Shahristani, for "lower than expected within two weeks 25% of government revenue," pointing out that "Iraq is seeking to offset lower oil prices by increasing production."

Shahristani stressed that "the decline in imports to Iraq less than a third of what it was during the past years," and expressed hope that "Iraq compensates decline of those resources by increasing production."

The head of the Council of Ministers, single-Abadi counting, first Tuesday, (15 December 2015), the fall in world oil prices, "the most serious challenge" facing Iraq next to "terrorism", and stressed the government continues to reform and simplify procedures and "would not retreat from it," While new to invite Turkey to withdraw its troops immediately, he urged the media to "carefully" and not to "break the will" of Iraqis.

The world oil prices have fallen about 60% since the summer of 2014 the past.