Experts suggest determine the price of oil at $ 25 a barrel in 2017 budget
Experts suggest determine the price of oil at $ 25 a barrel in 2017 budget
08/24/2016
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BAGHDAD / JD / .. suggested a number of experts and specialists in the financial and economic affairs to determine the price of oil at $ 25 a barrel next year’s budget, especially after the international expectations of continued low oil prices until 2018, warning put a price higher than the real, which will lead to general economic upheaval in the state.
The Cabinet announced on Tuesday for setting the price of oil at $ 35 a barrel in the budget of 2017, as revealed to reconsider a number of paragraphs of the budget to suit the general economic situation in the country.
He says economic expert Abdul Hassan al-Shammari, “including that the Iraqi economy is still dependent on oil revenues in the construction of the federal budget, and the price of oil is still below the required level, we must adopt a price less optimistic budget in 2017, to avoid the country any financial confusion may occur as a result of increasing the deficit in the budget. ”
He said al-Shammari told / KD / “The 2017 budget is supposed to be built on the basis of the price of a barrel of oil at $ 25 instead of $ 35 due to the fluctuation of oil prices in world markets,” stressing that “in the event of the sale of oil at more than $ 25 during the year the next may be surplus money to balance prepared extra supplemental acknowledges in the same year. ”
He added that “Iraq now need to cancel foreign exchange auction at the central bank because the dollar is not true in this auction, where the price of 1190, this price is very low, we must make the dollar price of 2,000 dinars and this is what will bring great achievements of the Iraqi budget, because it would pay to dependency the national industry, agriculture and achieve food self-sufficiency, because it will increase prices in general in the market of imported materials, especially, lower domestic producer prices and be our reasonable budget. ”
For his part, confirmed member of the Finance Committee MP Ahmed Rashid, “Prime Minister Haider al-Abadi’s announcement of a price of $ 35 per barrel of oil in the next year’s budget was precautionary, and that this price set by the Finance Committee in the current year budget,” pointing to “the adoption of three prices of criteria to determine the price of a barrel of oil, namely, (a conservatory and my optimism and pessimism). ”
“The price set by the government for a reasonable per barrel and put the Iraqi people in a correct picture of the general budget for next year.”
The Council of Ministers, has devoted its meeting, on Tuesday, to discuss the financial budget for 2017, the proposed law on the version provided by the Ministry of Finance and the amendments were discussed extensively and reached the final stages of submitting the bill to the House of Representatives. ”
The Prime Minister said Haider al-Abadi, during a press conference, that “the 2017 budget suffers from a significant fiscal deficit due to lack of oil imports, compared with a rise of employees and retirees salary cap,” adding that the government “set the price of $ 35 per barrel of oil within the budget of 2017,” .anthy / 8 /
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