Economic Adviser to the Prime Minister's "pessimistic" of the economic situation of the 2016 parliamentary and Energy calls "to reduce costs."

December 13, 2015 7:08
His economic advisor to the prime minister Haider al-Abadi, on Sunday, for "pessimism" the economic situation of Iraq over the next year in 2016, attributing the cause to the continued decline in global oil prices and the difficulty in activating the industrial and agricultural sectors after decades of "underdevelopment and neglect," while The head of the Oil and Energy Committee Parliamentary government to eliminate "corruption" and reduce costs and diversify revenue.

He said the appearance of Mohammed Saleh in an interview that "the budget for Iraq in the current 2015 is priced oil, $ B56, while it was sold for less than $ 49 during the first of which nine months, which is a burden born large deficit the government was forced to bear the consequences," expressing " not optimistic economic reality over the next year in 2016, in light of the continued fall in oil prices and the global markets, requires continuing retrenchment, and limited to those which have priority, such as salaries and the war against terrorism and health. "

Saleh added, that "the government does not have a magic wand to transform the Iraqi economy to agricultural and industrial after decades of underdevelopment and neglect of diversifying sources of national income, and the failure to adopt sound economic policy, whether or imposed on Iraq because of the current circumstances."

For his part, Chairman of the Commission on oil and parliamentary power the Ares Abdullah, in an interview that "Iraq is going through a financial and economic crisis real, exacerbated by the decline in oil prices," returned "The government should be working to diversify its sources of revenue and not rely on oil only".

Abdullah called on the government to "eradicate corruption and reduce costs," warning that "the government will have to borrow to increase the burden of the country if these treatments have not adopted".

He said Abdullah, "The government and the House of Representatives bear a major responsibility to improve the economics of the country," calling on everyone to "think of how to find a radical solution to the financial problems, lest Iraq's economy remains subject to the vagaries of world oil prices."

It is noteworthy that world oil prices have seen a sharp decline is the lowest in seven years, in the wake of the failure of the Organization of Petroleum Exporting Countries members (OPEC), to agree on the volume of production and processing glut increasing supply, during their meeting at the organization's headquarters in the Austrian capital Vienna, last Friday, ( the fourth of December 2015 present).

Has dropped the price of Brent crude (Universal Brent crude) of $ B1.96 down to around US $ 41.05, while US light crude hit rate (the average West Texas) to $ 37.95 a barrel, down to $ 2.02, after that aired in earlier in the session to $ 37.88.

The price of a barrel of oil above $ percent last summer of 2014, prior to continue to decline over the past months, amid continuing disagreements OPEC members on production quotas and the ceiling.