Minister of Finance expected reach Iraq's budget to 150 billion dollars in future
June 15 2010
Sign and Iraqi Finance Minister Baqir al-Zubaidi, Iraq's exports rise in crude oil from two million barrels currently to six million barrels per day after seven years.
He explained in an interview with Al Arabiya television that oil production will rise to 2.5 million barrels per day next year, that total 3 million barrels in 2012.
The Zubaidi, the overall budget for Iraq will be affected by high energy production of oil, which will number more than 70 billion dollars in the current year, is expected to increase by 10 billion annually over the next three years, adding that his country looks forward to the balance of 150 billion dollars, boosted by higher oil exports and the entry international companies to the sector.
Predicted Zubaidi to reach the budget deficit in 2010 between 18 and 20 billion dollars, part of which will be covered from the surplus of previous year's budget, the rest will be repaid from the differences in oil prices, with oil pricing in the budget of 2010 at 62.5 dollars per barrel, while the sale barrel price of up to 74 dollars.
He stressed that the current deficit is more than 20% of the budget, and will sink to 8% in 2013.
http://translate.googleusercontent.c...CcoKh4YCbgYdLg
June 15 2010
Sign and Iraqi Finance Minister Baqir al-Zubaidi, Iraq's exports rise in crude oil from two million barrels currently to six million barrels per day after seven years.
He explained in an interview with Al Arabiya television that oil production will rise to 2.5 million barrels per day next year, that total 3 million barrels in 2012.
The Zubaidi, the overall budget for Iraq will be affected by high energy production of oil, which will number more than 70 billion dollars in the current year, is expected to increase by 10 billion annually over the next three years, adding that his country looks forward to the balance of 150 billion dollars, boosted by higher oil exports and the entry international companies to the sector.
Predicted Zubaidi to reach the budget deficit in 2010 between 18 and 20 billion dollars, part of which will be covered from the surplus of previous year's budget, the rest will be repaid from the differences in oil prices, with oil pricing in the budget of 2010 at 62.5 dollars per barrel, while the sale barrel price of up to 74 dollars.
He stressed that the current deficit is more than 20% of the budget, and will sink to 8% in 2013.
http://translate.googleusercontent.c...CcoKh4YCbgYdLg