Parliamentary Finance: Iraq overcome the most difficult stage with high oil prices

Views 36 Date 08/21/2016 - 20:20

Economy News / Continue ...

He said the parliamentary Finance Committee member Jabbar Abdul Khaliq today that Iraq overcome the most difficult stage in economic terms with the rise in oil prices.

Abdul Khaliq in a press statement I followed "Economy News" said that if oil prices exceeded thirty-five dollars a barrel barrier, it will cover a lot of the actual operating budget for Iraq.

Khaliq said that the deficit was present in all budgets, including the explosive because of the dependence on oil prices, often spending more than revenue.

He said a member of the Finance Committee that Iraq has exceeded the most difficult stage, and if it happens in the book 2017 budget will resort to borrowing or non-oil resources.

The Cabinet discussed in its regular budget for fiscal year 2017 after it was introduced by the Ministry of Finance where he was presented a report by the Ministry of Finance on the budget and will be completed discussed for presentation to the House of Representatives for a vote as soon as possible.

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