Expert: drop in oil prices will continue and the government to diversify the financial revenues

Expert: drop in oil prices will continue and the government to diversify the financial revenues of the state to avoid the impact

On: Sun 07/15/2012 10:00

Baghdad (news) .. Expect an economist Ismail Hussain, slowing global economic growth during the next two years, what will make the world oil prices low due to lack of demand for it, calling on the federal government to diversify its revenues and not rely on oil sales only.
said Abdul Hussain (of the Agency news) on Sunday: The oil revenues are resources mobile and not fixed, meaning they are affected by the global economic crisis, especially since the national economy is supported entirely on the oil, making the effect directly in the event of falling world oil prices. He added that the world today is exposed to economic crises large, especially in the countries of the euro area made the index of world oil prices headed for a fall, likely the continuation of this crisis for the next two years due to the absence of radical solutions to address this crisis by the European Union. said: that the Federal Government are required to develop an economic plan out for the advancement of economic sectors, whether agricultural or industrial or commercial to achieve sustainable development and liberalization of the economy, rent-seeking unilaterally to the economy, multi-faceted, especially as Iraq has the elements of economic characteristics to aid the national economy from the crisis likely to occur during the next two years. suffer euro zone countries a severe economic crisis due to suspension of its plants and the accumulation of debt to the extent that forced some European countries such as Greece to implementation of the policy of austerity, is born out of fear of the Arab economic impact of this crisis on their economies in terms of reducing the trade exchanges with European countries. / Finished / 8. d. Q /
Source: ikhnews