Parliament Economic Committee calls for adoption of a strategic plan to diversify State revenues and reduce dependence on oil

Posted by on Nov 29, 2013 | Leave a Comment

Baghdad (newsletter). The parliamentary Economic Committee, warned that the Iraqi economy dependent on oil as the main source of State calling for diversification of State financial revenues to avoid potential economic problems of the country.

The Rapporteur of the Committee, said MP mahma Khalil (News Agency): federal budget revenue constituting (95%) Of oil, this is an indication of a threat to the economy, as it would be global economic shocks.

He added that the Iraqi Government was required to develop strategic plans to the national economy, by activating the productive sectors such as agriculture, industry, providing job opportunities for the unemployed and reduce poverty, to achieve sustainable development in the country.

He noted that the world economy is likely to see a slowdown in growth in the coming years, this will show the Iraqi economy to the risk of being supported on oil, while oil will drop its price on the world market.

The international reports predicted that the slowdown in global economic growth and a decline in the purchase of oil on world markets and this will hurt with oil-dependent States challenges

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