Prime Minister Nuri al-Maliki of Iraq's revenues expected to fall during the financia
Prime Minister Nuri al-Maliki of Iraq's revenues expected to fall during the financial year 2012, pointing to a global economic crisis in Europe and the United States causing damage to the Iraqi economy, as he emphasized that next year will see the development in the sectors of electricity and oil.
Maliki said during a visit to the province of Babylon that "the financial situation does not bode well, and the fact that we raised the budget to 136 trillion dinars, but we run into the prospects of a global crisis, unexpected new resolve her head in Europe and America, and also the collapse of the banks," pointing out that "this may lead to economic stagnation will have an impact particularly on Iraq because the budget of her spine and 90% or more of them rely on oil revenues.
On the other hand, Maliki confirmed that "Once completed the work of companies that are currently working day and night in different parts of Iraq at the level of electricity will come down to the service starting from next summer until the next two years about 13 thousand MW," noting that "oil production began to increase and we have stations export of 900 thousand barrels per additional will be opened by end of this year and another 900 thousand will be opened in the first quarter of next year. "
It is noteworthy that Iraq is suffering a shortage in the supply of electric power since 1990 after the imposition of the UN embargo on Iraq, and the problem worsened after 2003, and increased hours of power outages to about twenty hours per day, increasing the adoption of the parents on the power generators and small communities.