Our oil sold for $ 29 and our actions without influential reforms already

Our oil sold for $ 29 and our actions without influential reforms already

Our oil sold for $ 29 and our actions without influential reforms already Basil Abbas Khudair Saturday, January 2, 2016 The Oil Ministry announced the preliminary statistical oil exports for the month of December last issued by the Oil Marketing Company (SOMO), where total oil exports amounted to 99,000,658 thousand and 761 barrels, said ministry spokesman Assem Jihad said the average daily oil exports amounted to 3,000,215 barrels, while revenue generated amounted to nearly two billion and 973 000 308 thousand dollars, and added that exports from southern Iraq amounted to 99,000,658 thousand and 761 barrels, while oil exports through the port of Ceyhan, they parked a result of non-delivery of agreed upon by the Kurdistan Regional Government quantities (and for the third consecutive month ), Jihad and pointed out that the price of a barrel sales rate of $ 29 and 835 cents. And that the total oil exports for 2015 amounted to one billion and 96,000,778 thousand and 863 barrels of total revenue last year amounted to 49 billion and 079 000 199 thousand and 297 and $ 15, the average price per barrel last year, reaching $ 44 and 748 cents, and finally, the daily oil exports last year amounted to 3.005 million barrels, and oil exports are not going in one direction, but the rise and fall.



According to figures presented by the first announcement of the Iraqi Oil Ministry for the year 2016, our country live very financial risks in importance, which threatens a large deficit in the budget can not be manipulated using the means available to all, under estimates the federal budget approved by the House of Representatives on 12/16/2015 law, and transmitted to the President of the Republic for approval and publication in the Official Gazette to be effective from the beginning of this year, the daily exports of 3.6 million barrels per day at a price of $ 45 a barrel, while the daily exports last year's rate numbers indicate it has reached 3.005 million barrels and the rate of exports for the month last 3.215 million barrels a day, even if we take the last digit on average because it is linked to the endeavor of the Ministry of Oil to increase exports from the south, the size of the absence of North exports, what will be exported in 2016 will be up to 1,093 billion after taking potential export stops this year in the ports of the south, because the price Our oil, which is sold by up to 30 dollars a barrel, the oil revenues will be around $ 33 billion if oil prices remained the same, knowing that our oil is not sold as global prices announced it is subject to discounts and incentives given to buyers. According to the closest numbers to the reality of oil exports, the estimated oil revenues under the federal budget would be reduced by $ 24 billion law, it constitutes this amount deficit is added to the planned deficit of $ 24 trillion dinars, which may mean that the deficit will be up to 50 trillion dinars in 2016, a figure Scary is equivalent to half of the expenditure in the federal budget and add to the deficit wages paid to oil companies operating under licensing rounds, according to the sources, the value of wages up to $ 14 billion, which will be paid their share for 2015 through this year, through internal and external borrowing, these figures put the financial planner in general and the government in front of embarrassing situations and hard choices for the lack of alternatives can be used in order to make up the shortfall in revenue, and the biggest problem that the financial situation is going through the world is influenced by our country regarding the decline in oil prices it is known in terms of the length of time, and perhaps the most difficult of all this and that is the probability of survival of low prices for an unlimited number of years in the absence of harmony and producers to increase oil supply and the resort of consuming countries to more rational solutions, because it keeps the consumption rates did not increase their demand for oil during the period of oversupply.



And (if) remained these things unchanged, the economy will be affected much because it is a product of goods and services in non-oil only in a limited but high in terms of demand and consumption, and that the balance of payments will develop a large defect due to the country's dependence on imports, which were covered Akiemha hard currency revenues Oil, which means the deficit in import financing after the depletion of reserves, and the financing of fixed expenses of the government will face difficulties and crises of great because the money supply available will not afford coverage for open, it may be sufficient only for specific months, after which there will be a narrow options such as reducing salaries or float currency or change of exchange rates in the presence of priorities are the living and the fight against terrorism and to support the displaced and satisfaction corrupt, and these possibilities are mentioned by assuming the financial and economic policies remain unchanged, it is necessary to change the formation of device efficiently and effectively on policy formulation and the search for alternatives and create mechanisms for the advancement of the Iraqi economy, This subject will not find an echo in the application as many professionals posed dozens and hundreds of solutions years ago has not been responding for their, at best, has been the formation of committees of the government or the persons responsible for the bodies dealing with this crisis did not produce anything fruitful them of course, and in this time will we say should and must change tools solutions by relying on technocrats in these crises, even for commissioning without positions and privileges.

[You must be registered and logged in to see this link.]