Economist: rise witnessed by the oil will reduce the deficit and limiting the economic crisis

2016/3/9 10:05

Economist: rise witnessed by the oil will reduce the deficit and limiting the economic crisis
{Baghdad: Euphrates News} stressed the economic expert on behalf of Jamil Antoine, the rise witnessed in oil prices, will reduce the budget deficit.
He said Antoine told {Euphrates News} said, "any rise in oil prices no matter how or increase in the amount of pumping and Marketing will work to reduce the existing budget deficit, and reduce the external and internal debt which it enters Iraq, and be helpful for the country in such a situation to ease crisis asphyxiating we are experiencing at the present time. "
He pointed out that "the Iraqi budget, living in a big deficit exceeds 15% of the support of GDP, was up to more than $ 30 million, and the main reason is due to lower oil prices."
On the rise witnessed in oil prices, and whether it was a positive sign to reduce the severity of the economic crisis, Antoine said: "Certainly, it is a good sign .. We hope to be aware of the rest of the OPEC members to the importance of the agreement and the unification of prices and reduce the supply to demand is more than supply and lead to higher even partial oil prices. "
He expected a "slight rise in oil prices from now to the end of this year," adding that "the price per barrel will not grow to proportions that we aspire her but no improvement in prices and any agreement takes place between OPEC producers to reduce the width between OPEC and non-OPEC will improve Iraq-producing countries and private setting rentier them. "
It saw oil prices during the previous days rose slightly, reaching yesterday to $ 40 a barrel, after it posted last January lows over 12 years, at a price of $ 29 a barrel.
The oil minister, Adel Abdul-Mahdi, said in the first of this March, said that "oil prices witnessed over the past weeks, a significant increase, it is closer to $ 37 / barrel, after it was six weeks less than $ 27 / barrel before .., an increase of 10 dollars a barrel, and that means for Iraq, according to the current rates of exports, an increase in the monthly resources by $ billion, is the need it most. "
And Abdel Mahdi said "the most important improvement in price factors is the meetings that I got to freeze the output states of" OPEC "and beyond, both in Doha between Russia and Saudi Arabia, Venezuela, Qatar, or in Tehran between Iran and Iraq, Venezuela and Qatar, and the idea of ​​calling for an emergency meeting in the middle of this month, which that has been agreed upon, the most important themes is to control the markets again. "
The, Saudi Arabia, Russia, Qatar and Venezuela agreed after a ministerial meeting in Doha on the freezing of its oil production at January levels last clause others Bzlk.anthy producers commitment