Govt. Must Diversify its Sources of Income for the Next Budget : Experts

One of the most famous Economic expert said that Iraqi authorities didn’t activate the Iraqi productive sectors than only taking benefits from its oil revenues at the time of preparing the Iraqi budget 2016. It is expected that oil price would not increase after signing new nuclear agreement and lifting the financial and economic sanctions on Iran. After lifting these economic sanctions, Iran would be able to export more than 4 million barrels oil per day in less than six month. It will also increase the supply of crude oil in the international oil markets and expert says it would also affect the oil prices globally.

He also said that lifting sanctions after a number of years, Iran should ask OPEC to increase its exports shares and Iran has the right to regain its financial power in order to improve the economic condition to manage the negative affects left by the sanctions on its economy. At the other hand, there will be an increase in Iranian oil exports which will increase the supply in the international oil markets and it would be a major reason in decreasing the oil price per barrel. He added that Iraqi economy would also be affected by this process. The Iraqi government is looking for other financial resources except its oil exports. The security situation is also an important factor and the Iraqi security forces are achieving their targets bravely and liberated most of the areas occupied by the Daash militants. Now the Iraqi situation is more stable and satisfactory in the investment point of view.

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