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Parliamentary economy: falling oil prices, "a major disaster" and Iraq will face tough choices
1/14/16
Baghdad /...oceft member of the Committee of Economy and Investment parliamentary Najiba Najib, Thursday, forecasts that pointed to the possibility of falling oil prices to $ 10 as a "major disaster", indicating that the government will be able to address them through the "tough choices".
She said Najib's "Eye Iraq News" that "the expectations that pointed to the possibility of falling oil prices to $ 10 if it has already occurred would be" a major disaster ", noting that" the drop in prices to this level will not cover oil production costs in excess of the (10) much dollar. "
She explained to the Committee of Economy and parliamentary investment member that "the government will be able to face (of the disaster) over to take tough choices," adding that "among these options is the external borrowing and a" non-oil "resources through the head to the private sector and the revitalization of agriculture and industry as well as taxation ".
And it warned of major international banks, on Wednesday, from another drop in crude oil prices to reach $ 10, while pointing analysts that the oil market will remain balanced substantially, as long as there is an increase in the supply and processing and recession in oil demand.
The newspaper "Daily Telegraph" published an article based on the number of warnings from major banks of a decline in prices of crude oil price per barrel has bidden to $ 10.
The article says that the last time oil prices fell to a level of $ 10 was at the height of the Asian financial crisis in 12 1998
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1/14/16
Baghdad /...oceft member of the Committee of Economy and Investment parliamentary Najiba Najib, Thursday, forecasts that pointed to the possibility of falling oil prices to $ 10 as a "major disaster", indicating that the government will be able to address them through the "tough choices".
She said Najib's "Eye Iraq News" that "the expectations that pointed to the possibility of falling oil prices to $ 10 if it has already occurred would be" a major disaster ", noting that" the drop in prices to this level will not cover oil production costs in excess of the (10) much dollar. "
She explained to the Committee of Economy and parliamentary investment member that "the government will be able to face (of the disaster) over to take tough choices," adding that "among these options is the external borrowing and a" non-oil "resources through the head to the private sector and the revitalization of agriculture and industry as well as taxation ".
And it warned of major international banks, on Wednesday, from another drop in crude oil prices to reach $ 10, while pointing analysts that the oil market will remain balanced substantially, as long as there is an increase in the supply and processing and recession in oil demand.
The newspaper "Daily Telegraph" published an article based on the number of warnings from major banks of a decline in prices of crude oil price per barrel has bidden to $ 10.
The article says that the last time oil prices fell to a level of $ 10 was at the height of the Asian financial crisis in 12 1998
[You must be registered and logged in to see this link.]
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