Economist warns of bankruptcy Iraq and calls for calm dialogue with Kurdistan on oil export
Economist warns of bankruptcy Iraq and calls for calm dialogue with Kurdistan on oil export
02/07/2014 05:13
BAGHDAD / Source News / .. warned economic expert, Abbas Ghalibi, Wednesday, the bankruptcy of the Iraqi government and its inability to pay the salaries of employees in the event of delay in approving the budget, more than this time, and while stressed that Iraq builds its budget deficit by default, as a result of considering the price of a barrel Oil is less than the global average of $ 15, warned of lower fund balance in Iraq DFI.
He Ghalibi in an interview told / Source News /, that “the budget in Iraq from budgets short-term and depend on the ratio of 95% on imports of oil, and Iraq is still continuing to export oil through the ports of South”, adding that “imports which are funded budget exist and still visible but it can not afford to wait for more, especially since Iraq spends millions of dollars a day in the battles waged by the Iraqi military has Aldtrbh in the cities as well as the purchase of weapons. ”
He added that “Iraq builds its budget deficit by default, as a result of considering the price of a barrel of oil is less than the global average of $ 15,” noting that “the funds in the Development Fund for Iraq, it includes an asset well from which to cover the deficit repeated in every budget.”
He Ghalibi that “Iraq possessed between 2012 and 2013, amounted to $ 18 billion dollars in the fund DFI, it was enough for the employees’ salaries for six months,” adding, “but that amount fell between 2013-2014, to six billion and 300 million dollars only, According to IMF data. ”
And saw an economist, that “expenses Iraq were on the rise during the past years, was unable to achieve the level of export of 2.0006 million barrels a day, as planned in 2013, about a stable, causing the drop score in the Development Fund for Iraq”, returned to “decrease in the fund balance of Iraq’s DFI is an indication of scary, especially that the budget deficit of between 30 and 40 billion dollars, the current through the year 2014.”
Questioned the economic expert, in “Iraq’s ability to ensure the stability of the level of its oil sales, and prices, especially as currently less than 105 dollars,” stressing the need to “come to an agreement with the Kurdistan Regional quiet on the mechanism for the export of oil.” Finished / 19 AH
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