Majida Al-Tamimi Suggested $ 35 Per Barrel Oil Price for The Budget 2016

Iraqi Dinar 123 News:– A member of the Iraqi Parliamentary Finance Committee Majida Al Tamimi issued a statement that oil price for the next years’ budget 2016 will be set at 35 U.S dollars but not 45 U.S dollars per barrel. Al Tamimi also said in her statement to a news agency that a meeting was held with the Iraqi prime minister Haider Al Abadi on his special call to Heads of the blocs and Al Tamimi as the head and the Deputy of National Alliance suggested a proposal and Al Tamimi declared it as necessary to set oil price at 35 U.S dollars per barrel for the next year’s budget 2016. It would also avoid such factors that could surprise which may affect the oil price in the future.

Majida Al Tamimi further added that we should adopt reform packages due to continuous downfall in the global oil price and it has also been confirmed by the World Bank. The World Bank pointed out that it is expected that global oil price would reach at 26 U.S dollars per barrel in the year 2016. So, we should make strategic budgets and add the oil price value at less than 45 U.S dollars per barrel. Al Tamimi also pointed out that Iraq could face consequential risk in the scene of continuous decline in the global oil prices in the international oil markets.

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