Price of oil sold this month less than 40% from previous price, says Abadi
(IraqiNews.com) On Saturday, Prime Minister Haider al-Abadi stated that the price of oil sold by Iraq this month is 40% less than the previous oil prices noting that 85% of Iraq’s budget depends on oil revenues.
Abadi said in an interview for ‘CNN’ followed by IraqiNews.com, “The price of oil we’ve sold this month is less than 40% than the previous price.”
“85% of our budget is based on oil revenues,” Abadi added.
He also pointed out, earlier on Saturday, to the importance of transforming the challenges of lower global oil prices to direct opportunities of real and effective program of reform in the field of economy and governance.
Noteworthy, the global oil prices have seen a significant decrease—the first of its kind in five years—causing damage to many countries, including Iraq.
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