World Bank warns Iraq of the adoption of the budget on the high speculative prices for a barrel of oil

Revealed the World Bank, Sunday, that the volume of spending of Iraqi budgets far less than the observed where money, and expressed his fear of the danger of adopting the Iraqi budget for oil fully and guesses prices high, as revealed the Ministry of Planning, the «subject» Iraq for many «blackmail» Finance after 2003, said the World Bank representative in Iraq Maria Helen in a joint conference with the Minister Alkhtit Iraqi Ali Shukri in the ministry building and attended (range Press), said that «the budget preparation on the price of a barrel of oil set at $ 90 without a maneuver could lead to a shock for Iraq», pointing out that «any drop in the global price of oil could lead to balancing the country to big problems.

Helen called to «reduce the price of a barrel of oil Evaluator to adopt the budget well, pointing out that« any surplus or a rise in prices from which to build other projects and it will help that there will be savings.

The Council of Ministers approved, on the fifth of November two thousand and twelve, the budget of the year 2013 $ 138 trillion Iraqi dinars and adopted the budget on Iraq’s oil exports on the basis of $ 90 as a price per barrel. Announced Helen that «the International Monetary Fund will enter into negotiations with the government later this month We will discuss these issues. Helen added that «one of the problems suffered by Iraq is how to spend the budget that has, pointing out that« the real rate of spending we find very low compared to what is made of money.

For his part, acknowledged the Minister of Planning Ali Shukri in the press conference himself that «Iraq’s budget for 2013 relies 93% on oil and the government recognizes the seriousness of this matter».

Confirmed thanks to «government also believes that $ 90 a barrel is too high and any impairment may come to the problem of large Iraq», adding «But there is no alternative today but to determine the price to $ 90 to go to provide the necessary funds for the budget ».

said Shukri said that «the Iraqi government know that there are a lot of unrealistic demands and lawsuits filed», indicating that «the circumstances and the occupation that Iraq has passed through after 2003 made him subject to a lot of blackmail, however,« in a lot of cases have been prosecuted these actors brought mostly from the private sector and the government earned those issues.

In response to a question about the fate of Iraqi funds deposited in U.S. banks, which extended Washington, middle of last year protection from claims jurisdiction for one year, the Minister of Planning said that «many alternatives exist to the government to protect Iraqi funds in the United States», explaining that he «can not advertising them because they are in the corridors of the Council of Ministers did not end the Council prepared formula eventually.