Economist: step by the International Monetary Fund will reduce the proportion of the deficit in the Iraqi budget

Views 56 Date 21/09/2016 - 13:16

Economy News / Baghdad ...

Bassem Jamil stressed the economic expert, on Wednesday, a move that the International Monetary Fund calculates the price of a barrel of oil 43 instead of $ 35 and approved within the budget that Iraq next year it will be channeled in the interest of the country and will reduce the public deficit in a balanced ratio.

Jamil said in a statement, said the International Monetary Fund put several recommendations and terms when he agreed to lend Iraq, including a review of public budgets of the state and the actions taken to rationalize spending, noting that Iraq still suffers from many problems not addressed so far, is mono-economy and the continuing decline in oil prices Global.

He added that the IMF extrapolated oil prices in the future and there are negotiations to reduce the supply to increase demand and therefore higher oil prices again, pointing out that Iraq will reduce the product of three million eight hundred and eighty thousand to three million, six hundred thousand barrels will contribute to reducing the proportion of the Iraqi budget deficit for next year.

It is said that the International Monetary Fund made an amendment to the price of a barrel of oil is expected within the next year's budget, in order to reduce the overall fiscal deficit of the country, where the price of $ 43 a barrel for the sale was adopted rather than the price of $ 35 in the current budget.

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