Posted 05/07/2012 04:05 AM
Warned the decision of the parliamentary Economic Committee, Khalil Mahma, a setback in the Iraqi economy due to lower world oil prices.
Meeting of the Iraqi parliament
He said in a press statement that “the Iraqi economy will be subjected to a major setback in the event of a continued decline in world oil prices to the fact that the fiscal budget of the country depends mostly on imports of oil exported.”
He called on the government and the Iraqi Oil Ministry to “work hard and fast to find outlets for alternative export Iraqi oil through the Strait of Hormuz, in the event of any military tension in the region may cause closure of the strait,” stressing “the need to find alternative sources of oil, including support for the investment sector and the economy and agriculture, industry and tourism. “
