Economist: identifying $ 35 a barrel at the close of the 2017 budget reality

Views 31 Date 03/09/2016 - 13:43

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Description economist haven secretary adoption of the $ 35 average price of a barrel of oil source in the budget of 2017, Balgarib of fact, while stressing the need to expand the doors of the budget revenues and cut expenses to ensure non-slip into the quagmire of debt.

The secretary said in a statement that "most experts in the world oil market had expected not to skip a barrel from $ 55 in the next year, at best, due to the growing shale oil production and higher production rates in the Middle East oil states leads to flooding the market."

"The government's decision to adopt dollars a barrel 35 in the budget next year will be very close to reality as oil experts indicators and the reality of the global market with a roof exporting 3.8 million barrels daily average," pointing out that "the rise in oil prices from the approved price means increasing financial returns budget and that can be classified as part of the debt owed by Iraq during the past years to pay, or directed towards investment and possibly monitoring of the budget in 2018, according to the cabinet decision. "

He said the secretary that "the budget law should include an expansion of the doors of the budget revenues from oil sales to avoid a drop in prices, and to ensure non-slip into the quagmire of debt that Stkpl country bills payment with benefits for decades to come, the burden on the next budget," pointing to "the need to head government toward its expenses unnecessary pressure and continue to fight corruption and detection with prevention of waste of public money. "

He called on the government economic expert to "apply the procedures and controls that will encourage the Cats productivity such as agriculture, industry, tourism, transport and configured to be sources to strengthen the financial revenue of the general budget."

The Cabinet announced last Monday approving the budget of the 2017 adoption of the barrel price of $ 35.

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