Statistics: Iraq sell oil to $ 22 billion since the beginning of the year and predicted a deficit of 20 billion in 2017

2016/8/10 14:23

[Oan- Baghdad]

Conducted by the statistical agency showed all of Iraq [where], citing official data issued by the Iraqi Oil Ministry, on the sale of Iraq's $ 22 billion of oil over the past seven months of this year 2016.

This statistical and do not include, according to the Oil Ministry, ie exports and imports of oil from the Kurdistan region due to the ongoing political dispute between Baghdad and Erbil, despite reaching an agreement last year, and the exchange of the two sides blamed the other for not sticking to it.

Iraq relies on oil imports by 90% of the public finances of the state budget, but faced considerable pressure deficit government spending because of the drop in crude prices since July 2014 to almost a third after it was a $ 110 and dropped to under fifty dollars per barrel.

The Iraqi government is facing a deficit in securing the necessary funds for the war on terror Daash bands, staff salaries and expenses of the state, but was able to borrow $ 15 billion from international financial institutions such as the International Monetary Bank.

According to the statistic that Iraq sold through his company National Oil Marketing Sumo during the past seven months from January until July of 2016, [22] billion and $ 93 million, while exports during the same period, was 691 million, and 905,000 barrels.

And was able Oil Ministry, the export of four shipments of liquid gas and other gas condensate, to supplement the state treasury and financial revenues.

The distribution of these exports and imports as follows, according to the Ministry of Oil data:

January 2016: the export of $ 101 million, Baward 2 billion and 262 million dollars.

February: the export of 93 million and 500,000 barrels, Baward 2 billion and 249 million dollars.

March: the export of $ 101 million, 900 thousand barrels, Baward 2 billion and $ 894 million.

April: exported 100.9 million barrels, Baward 3 billion, and $ 368 million.

May: the export of 99 million and 200 thousand barrels, Baward 3 billion and 748 million dollars.

June: the export of 95 million and 300,000 barrels, Baward 3 billion and 829 million dollars.

July: the export of 99 million and 266,000 barrels, Baward 3 billion and 743 million dollars.

These oil imports and increase compared to sales of the Iraqi Central Bank for almost the same period, reaching statistical according to his $ 18 billion.

It is expected the parliamentary Finance Committee member Jabbar al-Abadi, the fiscal deficit in the survival of Iraq's budget for next year.

Ebadi said to [where] "It is certain that the fiscal deficit in the budget of 2017 out of the question, but possible reduced through retrenchment and get Iraq on loans," noting that "the deficit index up more than $ 20 billion by more than 20% appreciated the budget by 90 billion dollar. "

On the convergence of oil imports, with the central bank sales, Abadi explained, "the central bank provides foreign currency to the government by selling the dollar and is responsible for this file as a single window to sell the dollar by virtue of the case and import."

"Certainly, the less revenue from the oil with the survival of the sale selling price low, it will certainly put pressure on the level of monetary reserves of the bank," pointing out that "the central bank sales sometimes exceed oil imports and this is a problem but it seems to have become the reality of the financial situation."