Tuesday, March 19, 2024

Baghdad

Abadi’s Office: There are several ways to cope with low oil prices

The spokesman for the prime minister's office Rafid Jabouri
The spokesman for the prime minister’s office Rafid Jabouri

Baghdad (IraqiNews.com) On Wednesday, the spokesman for the Prime Minister’s office, Rafid Jabouri confirmed that the government has several ways to cope with low oil prices, urging not to despair of facing it, while noting that there is a proper atmosphere for approving the 2015 budget at the earliest.

Jabouri said in an interview for the ‘From 10 To 11’ TV show, broadcast on Sumeria TV, “There is a proper atmosphere for approving the 2015 budget. The Council of Ministers held two special sessions in an attempt to approve it before the end of the first legislative term of the House of Representatives, but the continuing decline in oil prices and the risk of a very large deficit are greater than the acceptable limits in the budget, according to the draft was set, yet prevented to be sent to the parliament for approval.”

Jabouri added, “The ministerial committee is now working to reduce spending and increase resources and the efficiency of the state institutional structure reform,” urging “not to despair of facing low oil prices, as there are several ways to address the problem. The budget should be balanced based on variable oil prices, raising exports, reducing costs, improving the performance of ministries and benefits from the expertise depending on the revenue of non-oil wealth.”

 

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