Deputy calls for reliance on non-oil sources to maximize Iraq's resources and support budgets

Deputy calls for reliance on non-oil sources to maximize Iraq's resources and support budgets



23-08-2019 12:27 PM

Baghdad / News

A member of the Parliamentary Committee on Economy and Investment, Salem Tufayli, on Friday, to rely on other sources in maximizing Iraq's resources to support budgets in light of fears of a significant decline may affect oil prices in the global market.

Tufaili told "news", "Iraq has a great opportunity to diversify the sources of its budget without relying on oil only, especially with the presence of two great rivers can irrigate millions of acres of agricultural."

He added that "expectations and according to the current data, they indicate that oil prices fall to less than 40 dollars per barrel during 2020, which may enter Iraq in a financial crisis unless rectified by the diversification of sources of financing the budget."

He explained that "many sectors, especially agriculture can provide the money needed by the country, and the border outlets and large areas of land can be used instead of oil to finance Iraq's budget for the coming years."

He stressed that "the border outlets are not managed properly, as there is a great influence on them by parties and influential parties."

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