Expert: IMF select an option difficult for Iraq to overcome its budget deficit
Expert: IMF select an option difficult for Iraq to overcome its budget deficit
WEDNESDAY, 19 MARCH / MARCH 2014 13:05
Twilight News / counting banking expert and deputy governor of the Central Bank of the previous appearance of Mohammed Saleh, Wednesday, the option of the International Monetary Fund set in his last difficult to verify Iraq to overcome the problem of the fiscal deficit in the budget for 2014, which suffered exceeded 36 trillion dinars.
Saleh said “Twilight News”, the IMF said in his latest report that Iraq can overcome the problem of any financial or fiscal deficit, by maintaining the sale of oil per barrel to $ 105 in the same pace of export target in the budget.
He added that the condition set by the IMF is difficult to verify, world oil prices are variable, and during the global financial crisis, Iraq sold for a certain price of a barrel of oil at $ 40, and everything is out of the question, because the oil market is subject to financial speculation.
Iraq relies on imports to sell oil to finance 95 percent of the fiscal budget.
Iraqi economists agree with the concerns of the International Monetary Fund from the impact of falling oil prices on the budget for Iraq in 2014, and criticized the Iraqi government for not properly preparing the budget contributes to the development of other productive sectors.
There are differences on the mechanism of export of oil from Kurdistan, which hampers to pass the budget, which is estimated to exceed 150 billion dollars, the largest on Iraq.
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