Parliamentary Energy proposes to determine the price of a barrel of oil to 45 dollars in the budget next year

by **Ponee** Fri Aug 21, 2015 11:44 am

Parliamentary Energy proposes to determine the price of a barrel of oil to 45 dollars in the budget next year

Added by skypressiq

BAGHDAD / Sky Press suggested the Commission on oil and energy parliamentary, Thursday, determine the price of a barrel of oil at 45 dollars in 2016 budget, likely for a large fiscal deficit in the budget of next year.

A member of the Committee MP Ibrahim Bahr al-Ulum for "Sky Press," that "the current year's budget was built on the high estimates, which led to a relative increase in fiscal deficit and dramatically", calling on the government to "proper planning in the preparation of the 2016 budget."

He added that "the government to identify a barrel of oil in the budget next year at a price of suit with price fluctuations in the international oil markets," calling on "the government to determine the price of a barrel of oil at $ 45 to avoid any problems that may occur as a result increase the fiscal deficit."

He pointed out that "the budget next year will be the fiscal deficit but probably will be repaid from the surplus of revenue."
Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 per barrel, after it was $ 110.

Iraq relies, by 85%, on oil as well as Iran and Russia Almtdharran biggest with Iraq in lower prices, as a result, the Iraqi government was forced to announce, an austerity operations, generally in the country in an attempt to fill the budget deficit, as well as the government announced Iraq, reducing the salaries of cabinet 50%.

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