Saleh warns of total dependence on oil and calls for diversification of the economy
Appearance Saleh warns of total dependence on oil and calls for diversification of the economy and other resources
04/15/2015 09:47 GMT
Agencies – prime minister for economic affairs adviser warned the appearance of Mohammed Saleh, of Iraq’s continued reliance on oil revenues, financial, stressing that the state treasury needs to diversify natural stomach to invest its resources.
Said Mohammed Salehfa a press statement, said that “Iraq has a large raw materials other than oil / sulfur, phosphates and some arable metals investment / indicating that exploit generates a state budget billions of dollars, but it is invested as a result of neglect and dependence on the oil sector, mainly.”
He said economic expert, said that “the Iraqi economic security protection from any external vibrations needs to be serious steps to raise the financial capacity of the available resources and increase production to activate the agricultural and industrial sectors of the economy and religious tourism and trade as well as other raw materials untapped.”
He called on Prime Minister’s Advisor, the government agreed to with international companies to invest in the extraction of minerals and make Maude other to support the state budget decoding financial distress experienced by the country. ”
Oil prices are the basis for building the financial budget for Iraq depends on where the 95% on oil revenues, which yield Wi economy deterioration in prices adversely affect the country’s economy.
Saw a significant decline in oil prices during the past few months, but it rose slightly on Thursday, bringing the price per barrel to $ 56 as a result of the events of Yemen.