Central Bank warns of the country's dependence on oil as a resource and a single national income

Sunday, 22 December / 2 January 2012 17:48

[Baghdad - where]
Iraqi Central Bank has warned the country's dependence on oil as a resource and one of the national income.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh told all of Iraq [where] said Sunday that "Iraq's dependence on one supplier or any other country is a dangerous, especially if considered the main source of national income as we are witnessing today in the country from its dependence on and wanted to export oil to the outside ".

"The diversity of the source is a good thing, but we in Iraq are preparing this diversity is through reliance on and wanted the oil and invested appropriately and step strategy to achieve this is through the activation status of agriculture, which has seen since the early seventies of the last century and the present day decline was growth direction of the negative and the sector Today it is very important in its development in order to maintain food security The rest of the sectors such as industry, tourism, despite its importance, but Ptsouri remain complementary. "

The wants and crude oil exported from Iraq resource is the basis of the national financial income for the country and more than [85%] of the financial budget of the State.

The warnings in light of that seen in the Gulf state of stress and tension after Iran threatened to close the Strait of Hormuz and the cessation of oil exports, which pass through and which is estimated at [40] percent of global demand, if the U.S. and the West to impose economic sanctions on Iranian oil or beaten Iran's nuclear sites.

The Iraq depends on oil exports for the time being of the ports on the Gulf Iraq's Shatt al-Arab by more than two million barrels per day depends on the Turkish port of Ceyhan in the export of about [400], where only a thousand barrels of Iraqi oil him up through the pipes pass through the northern region , while not benefit from the extended pipeline in Saudi Arabia and the Syrian territory.