Deputy: Lower oil prices will exacerbate the budget deficit
09:55 - 14/02/2019
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Information / Baghdad ..
The MP for the alliance of Fatah Abdul Aoun Allawi, on Thursday, that the budget of Iraq will suffer deficit due to lower oil prices to $ 56, indicating that the deficit is not large, especially in the presence of treatments for the subject is to increase oil exports to more than calculated by the budget .
Allawi said in a statement to the information that the budget will be hit by the deficit after the drop in oil prices and the sale of Iraq less than the price announced in global markets, especially that the budget was calculated on the basis of the price of a barrel $ 56.
Allawi said that "the budget was calculated on the basis of the price of a barrel of oil and $ 56 with an export capacity of up to 3 million and 400 thousand barrels of oil per day, but Iraq exceeded this capacity and managed today to export quantities of oil up to close to 4 million barrels per day."
He explained that "late 2018 calculated the budget on the basis of the price of a barrel of oil $ 45 a barrel, and then Iraq was selling oil more than $ 60 a barrel, which saved Baghdad revenues and differences in the sale of oil late last year, which will cover part of the deficit resulting from lower prices "He said. Ending / 25 n