Iraqi oil price fell to $ 45 calls to reconsider the budget
Iraqi oil price fell to $ 45 calls to reconsider the budget
09-01-2015 03:48 PM
Commission on oil and energy parliamentary warned of dangerous effects on the federal budget situation after the sale of Iraqi oil prices fell to $ 45, calling for a review of the draft budget.
A member of the Committee, Kawa Muhammad, in a press statement, seen by the (news) today, said that : ‘low price per barrel of $ 15 for the price specified in the federal budget will lead to the loss of the Iraqi state, about 18 trillion dinars per year. ”
He added that “the adoption price of $ 60 a barrel in the federal budget was not appropriate and should be on the responsible parties to reconsider the budget of the Federal and a reduction fast financial expenses compared to reduce the price of a barrel in the project ‘.
It was economic advisor to the Prime Minister, the appearance of Mohammed Saleh, has confirmed that the descent of the price of a barrel of oil for 60 dollars will cause considerable pressure on state spending.
Saleh said, that: ‘fluctuating oil prices irritated the House of Representatives on price due to the budget in 2015 ‘, adding that the price of $ 60 a barrel is appropriate and reduction will cause pressure on the state’s expenses.
He also called for the government and the Oil Ministry to make efforts to compensate for the oil export volumes more than the specified number of balancing 3.3 million barrels, stressing that Baghdad agreement with the region strengthens Iraq’s oil exports.
He said, that ‘the House of Representatives had no right to reduce the budget, but Inaql doors exchange with each other’, calling for a study of all the local and external conditions in the re-installation of the budget.
It is noteworthy that the Council of Ministers, may Sadiq last month on the budget year 2015 by 123 trillion dinars and calculating the sale price of oil on world markets to $ 60, is due to the House of Representatives begins, next Wednesday, the second reading of the bill.
Iraq relies on about 94% of the annual fiscal revenue to cover the federal budget expenses on the sale of oil, and recently held a cabinet an amendment to the budget cut through the roof of the project expenses.
ikhnews.com
