Specialists advise calculates a barrel of oil at $ 65 in 2015 budget 11/16/2014 BAGHDAD / JD / .. after a continued decline in global oil prices and access to its lowest level until it reached $ 76 per barrel, advised a number of experts and specialists in financial and economic affairs, the federal government calculates the price of a barrel of oil at $ 65 to avoid the fiscal deficit in the 2015 budget, During their talk, calling for the Agency / JD / to the need to develop an integrated strategic plan to reduce dependence on oil and to maximize the financial resources of the state. Said an economist in the Office of International Economic Studies Hamid al-Moussawi, said that the drop in oil prices in world markets was expected, and most of the oil-producing countries have taken proactive procedures for a long period with the exception of Iraq, which is made from oil prime economic resource for the country. He told / JD /: The drop in oil prices and a decline in exports cause of Iraqs budget deficit in 2014 by 27 trillion dinars and the government will not cover it, but 25%, which is looking for other sources to cover the deficit. He said: The price of oil in the budget of 2015 must be built on objective prices calculates the price per barrel to $ 65 export capacity of up to three million barrels per day, noting that the federal and province governments deal Kurdistan on oil will enable Iraq to export oil more than 3 million barrels per day. The International Energy Agency on Friday, said that the oil market has entered a new era in the light of Chinas economic growth slowing and the US boom of shale production makes a quick return to high prices unlikely. She added that the agency is reluctant to predict oil prices in its monthly report, said that prices could fall further in 2015 after falling to their lowest levels since 2010, and descends from the $ 80 a barrel. She continued, While there is speculation that the high cost of oil for the production of non-traditional new equilibrium point for the price of Brent has been made in the range of 80 to 90 dollars per barrel, the balance of supply and demand predict that prices deterioration did a range of after. For his part, said the President of the Economic Media Center Dergham Mohammed Ali, said the current year must be considered in exceptional budget because of lower oil prices, in conjunction with the export of Kirkuk oil it stops what it may reduce speculation in half compared to last year, where the budget in 2014 prepared on the basis of the production of 3 million and 150 thousand barrels of oil per day, and the sale price of a barrel of oil (90) dollars. Mr Mohamed Ali told / JD /: The price speculative right according to the significant decline in oil prices should not exceed 60 to $ 65 a barrel to get realistic reading of the budget in light of the lack of clarity readings of the oil market, and determine the production rate of two million and 700 thousand barrels a day at the most in the 2015 budget, to avoid the fiscal deficit. He continued: We have to fluctuations in oil prices are appropriate for the seriousness of the government to support the development of alternatives to find additional resources for balancing non-crude oil. He had warned the Iraqi industrial assembly of catastrophe in the countrys economic resolved in the event of continued decline in global oil prices to unexpected figures, while the government and the parliament called for support of the private industrial sector to cope with the crisis. Said assembly Chairman Abdul Hassan Shammari earlier told / JD / The decline in global oil prices to below $ 90, this indicator sets off alarm bells on the single supplier of the Iraqi economy, adding that the continuation of the decline in oil prices in world markets will reflect negatively on the operating budget in terms of increasing the fiscal deficit, making it difficult for the state how to pay staff salaries and disbursements huge. He called on al-Shammari, The federal government and the House of Representatives to the need to support the private industrial sector to cope with any potential economic crisis, through laws and legislation granting soft loans
Posted on: Mon, 17 Nov 2014 06:36:27 +0000
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