- Time: 03/1420 2020 08:29:52
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(Baghdad: Al Furat News) The financial advisor to the government, Mazhar Muhammad Salih, confirmed on Saturday that the price of a barrel of Iraqi crude oil fell to less than 30 US dollars, which means that half of the country's revenue will be lost.
Saleh said, "We are 98% of the foreign currency flows to Iraq, while oil constitutes 45% of the gross domestic product and 93% of the revenues of the general budget, which makes it the main resource for the Iraqi economy."
He added, "The government has taken a number of measures to address the crisis in relation to public expenditures and the main obligations to face the shortage of resources." He explained that "the instructions and opinions stated in the statement of the Parliamentary Economic and Investment Committee represent important solutions aimed at developing exceptional policies to confront the crisis."
Saleh continued, "The price of a barrel of Iraqi oil fell to less than $ 30 after it was close to $ 60, which reveals a loss of half of our oil revenues compared to their previous rates, which constitutes a major shock in revenue and resources and needs a serious stand and wisdom in managing resources, as well You need great supervision, "he said, stressing that" the Iraqi government has an early warning system to redress resources in a manner that reduces the impact of this crisis. "
He pointed out that "the Cabinet is studying the situation of treatments and many precautionary alternatives to face the crisis, mitigate its effects, protect public resources and revitalize the economy’s movement in light of great challenges facing the global economy in the contraction of oil prices and the health aspect in the face of the spread of Corona virus, especially since the government is striving to absorb the repercussions The oil and health crisis. "
Ali Al-Rubaie ended
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