Financial plunge may slam Iraq soon: officials
http://www.aknews.com/en/aknews/2/63866/
Financial plunge may slam Iraq soon: officials
Erbil, 18 August (AKnews) – The financial crisis may crash Iraq next year if it would not increase oil export, an Iraqi lawmaker said.
The sooner oil and gas law is passed, the more benefits Iraq gets as foreign companies would flow into the country, chairman of oil and gas committee of the Iraqi parliament Bayazid Hassan said.
Iraqi budget would fall if the law would not be passed soon as 90 percent of the country’s budget is on oil, he added.
Iraq should export more oil to fill the impending gap in its budget, deputy chairman of the finance committee in the parliament Ismael Shukir said.
Iraq would find itself in a financial crisis if its next year budget would come short, he added.
The Iraqi government sent parliament the oil and gas law in February 2007 but not passed yet since then for the political rifts amongst the political blocs.
gs AKnews
http://www.aknews.com/en/aknews/2/63866/
Financial plunge may slam Iraq soon: officials
Erbil, 18 August (AKnews) – The financial crisis may crash Iraq next year if it would not increase oil export, an Iraqi lawmaker said.
The sooner oil and gas law is passed, the more benefits Iraq gets as foreign companies would flow into the country, chairman of oil and gas committee of the Iraqi parliament Bayazid Hassan said.
Iraqi budget would fall if the law would not be passed soon as 90 percent of the country’s budget is on oil, he added.
Iraq should export more oil to fill the impending gap in its budget, deputy chairman of the finance committee in the parliament Ismael Shukir said.
Iraq would find itself in a financial crisis if its next year budget would come short, he added.
The Iraqi government sent parliament the oil and gas law in February 2007 but not passed yet since then for the political rifts amongst the political blocs.
gs AKnews