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Expert: Iraq is facing an economic disaster and should reconsider the budget
18:20 - 09/02/2019
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stressed the economic expert Majid picture, on Saturday that the federal budget for 2019 , I returned wrong according to the political and regional quotas and free of economic planning, between the sale of a barrel of oil to $ 50 will display the country 's new fiscal deficit up to eight billion and 400 million dollars a year.
"The reduction of the oil production, which was worked by the Organization of Petroleum Opec up to one and 250 barrels of its total daily output did not affect the increase in demand due to the decline of economic growth in China and America," said the picture, "pointing out that" oil prices are affected by Direct in the political factors in the region. "
He added that "the federal budget for the year 2019 wrongly according to political and regional quotas and free of economic planning because it put a $ 56 price to sell barrels of oil despite the risks of the low world price," noting that "the sale of oil at $ 50 will expose the country to a new deficit of $ 8 billion and 400 million dollars "He said.
He pointed out that "the government is obliged to reconsider the budget again and reduce expenditures to avoid the financial deficit expected due to the decline in world oil prices." He explained that "not to reduce expenses will pay the government for external borrowing, which is rejected by Parliament to prevent the rise of external debt.
Oil prices fell on Thursday after US crude oil inventories rose and output stabilized at record levels, but OPEC-led supply cuts and US sanctions on Venezuela have provided support to markets. End 25 T
stressed the economic expert Majid picture, on Saturday that the federal budget for 2019 , I returned wrong according to the political and regional quotas and free of economic planning, between the sale of a barrel of oil to $ 50 will display the country 's new fiscal deficit up to eight billion and 400 million dollars a year.
"The reduction of the oil production, which was worked by the Organization of Petroleum Opec up to one and 250 barrels of its total daily output did not affect the increase in demand due to the decline of economic growth in China and America," said the picture, "pointing out that" oil prices are affected by Direct in the political factors in the region. "
He added that "the federal budget for the year 2019 wrongly according to political and regional quotas and free of economic planning because it put a $ 56 price to sell barrels of oil despite the risks of the low world price," noting that "the sale of oil at $ 50 will expose the country to a new deficit of $ 8 billion and 400 million dollars "He said.
He pointed out that "the government is obliged to reconsider the budget again and reduce expenditures to avoid the financial deficit expected due to the decline in world oil prices." He explained that "not to reduce expenses will pay the government for external borrowing, which is rejected by Parliament to prevent the rise of external debt.
Oil prices fell on Thursday after US crude oil inventories rose and output stabilized at record levels, but OPEC-led supply cuts and US sanctions on Venezuela have provided support to markets. End 25 T
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