Deputy: Iraq will announce its bankruptcy with the government's dependence on oil while declining
1/9/2016
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Deputy for the National Alliance demanded the government and the ministries concerned to find an alternative to oil for the construction of public budgets for the coming years. The Messenger of al-Tai said in a statement to his press office, received by all of Iraq [where] a copy of it, that "In light of the low price of a barrel of oil on world markets and the tense situation in the region, it is imperative on the government and the ministries concerned to find an alternative to oil for the construction of public budgets for the coming years."
He added "The oil imports represent annually more than 90% of the general budget size, so must find another resource for the budget," adding that "the wages of collection to the Municipality of Baghdad and some of the ministries on the ads, shops and factories, businesses and restaurants, as well as taxes on mobile phone companies The customs tariff and the other will be a good resource for the government to meet some of the deficit to the draft budget.
"He said al-Tai" The government's dependence on oil imports and regarded as a major supplier of the budget under the current drop to $ 33 a barrel will enter Iraq in a real crisis could announce bankruptcy in the coming years.
"facing Iraq a financial crisis due to the sharp decline of oil, in terms of financial budget for this year with a total expenditure of more than 105 trillion deficit accounted for 22.8%, reaching a total revenue of the 81 trillion and 700 billion dinars, the oil revenues, of which 69 trillion and 773 billion dinars The increase of 85.1% of total revenues , while non-oil revenues amounted to more than 11 trillion and 927 billion dinars The increase of 13.6% of the total Eradat.

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