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Iraqi revenues declined by 70%, spokesman
4:20 AM ADMIN
Baghdad/ Iraq TradeLink: Iraqi Premier's spokesman Saad al-Hadithi confirmed that Iraqi revenues
were declined by 70% or more in comparison to the period before the current government.
He pointed that the policy of loans was resorted to due to the decline in the revenues, stressing that the Iraqi oil was sold for 30 dollars per barrel, while the costs of the producing companies reached to 10 dollars per barrel.
"Iraq got loans from the International Monetary Fund and the World Bank with interests not exceeding 1.5%, which is the lowest percentage of loans got by the country", he elaborated.
"These loans had no preconditions or external economic pressures because they will be paid for a longer period of time with less interests", he confirmed.
Al-Hadithi expected that the recovery of the Iraqi economy will be achieved within 4-5 years, because the government has an ambitious plans to diversify the economy and minimizing expenditures, as well as finding new resources to replace oil production.
4:20 AM ADMIN
Baghdad/ Iraq TradeLink: Iraqi Premier's spokesman Saad al-Hadithi confirmed that Iraqi revenues
were declined by 70% or more in comparison to the period before the current government.
He pointed that the policy of loans was resorted to due to the decline in the revenues, stressing that the Iraqi oil was sold for 30 dollars per barrel, while the costs of the producing companies reached to 10 dollars per barrel.
"Iraq got loans from the International Monetary Fund and the World Bank with interests not exceeding 1.5%, which is the lowest percentage of loans got by the country", he elaborated.
"These loans had no preconditions or external economic pressures because they will be paid for a longer period of time with less interests", he confirmed.
Al-Hadithi expected that the recovery of the Iraqi economy will be achieved within 4-5 years, because the government has an ambitious plans to diversify the economy and minimizing expenditures, as well as finding new resources to replace oil production.
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