Economists answer: Is Iraq will announce bankruptcy at the end of 2015?

Economists answer: Is Iraq will announce bankruptcy at the end of 2015?

Posted, 12/04/2015

BAGHDAD / .. with the continuing decline in oil prices affected by a function both of supply and demand and the discovery of new oil fields may change the balance of power for the exporting countries and consuming countries alike, and the most important field was discovered in Britain stock 300 billion barrels of crude, loomed on the horizon signs of significant economic crisis threatening Iraq and the economy the region in general, prompting experts and specialists in this regard concerns.

He sees expert on behalf of Antoine, that Iraq is detracting from imports approximately $ 150 million every 24 hours, at $ 50 per barrel of oil, “noting that” oil wells pumping 3 million barrels a day. ”

. Antoine said in a statement the “eye Iraq News,” “The mismanagement of the economy and not to harness the excess amounts of the economics of a variety of agricultural, industrial and tourism, led to the production of economies that do not know how to manage their affairs, where the disbursement of funds in time and place is right, causing a crisis economic in the country. ”

He pointed to the need, revive other agriculture, industry and tourism sectors of the economy and the use of the private sector to get out of this crisis and work to increase imports and reduce spending. ”

Iraqi politics has drawn its sights towards other solutions Kaltakecv and reduce the salaries of employees as part of the face of the crisis.

And Parliament Speaker Salim al-Jubouri said in an interview with Russia Today channel that “the government may be forced to reduce employees’ salaries during the next two months in the event of a continued decline.”

The price of a barrel has come down to half the level to become a $ 57 after it was 110 last year.

The Committee on Economic parliamentary member Harith al-Harthy, confirmed for “Eye Iraq News,” The austerity measures are inadequate and requires “the issuance of the customs tariff law soon to curb the exploitation of merchants for crises and create other resources of the state is oil.”

As an economic expert criticized the peace Sumaisem told the “eye Iraq News,” the government’s decision to reduce salaries, accusing them of “diligence to reduce the salaries of Modvin without prejudice to the interests of the upper classes and the salaries of the three presidencies.”

When narrowed ways Iraqi finance did not find, however, going backwards and studying the possibility of borrowing from the International Monetary Fund to cope due to Iraq crisis to the year 2009 when the borrowed amount from the fund to cope with the sharp decline in prices that year, but Maigv obstacle in her face is that Iraq spent a large proportion of his money on the war against al-Daash, and that of the IMF’s policy that provides loans for financial purposes Kmusbandh currency shortages or fall does not “pay for the wars.”

He holds MP and economist Mehdi al-Hafez “mismanagement” responsibility to the Iraqi economy arent without denying “poor infrastructure, storage and export of oil in the oil did not meet with the possibilities of the country.”

Al-Haafiz said in a statement the “eye Iraq News”, “The ill-oil administration is responsible for the first crisis faced by the country,” and called for “improving the management of oil and the development of solutions for infrastructure and inventories and raise the export standard.”

While the more optimistic the vote was voted in favor of the appearance of an economist who reassured those concerns, saying that “fears of an economic crisis that threatens Iraq pessimistic misplaced”

Saleh added in a statement to “Ein Iraq News”, “The potential of the country is greater than that threatened by the drop in oil and the forces of the finest supporting Iraq’s military and economic levels,” noting the ability of the Iraqi economy to cope with the crisis in lost large potentials that abound in Mesopotamia.

And between reality and readings that counted specialists economy citizen is to keep the focus of this push and pull and more affected, it has extended a month the staff of some ministries to become 40 days due to his austerity and lack of liquidity, while the salaries of employees reduced wages daily by a large margin. Finished / 8

aynaliraqnews.com