The Iraqi government to reduce the dependence on oil revenues to 85%
08/06/2017


The spokesman for the Information Office of Prime Minister Saad al-Hadithi on the government's success in reducing the country's reliance on oil revenues to 85 percent, after the proportion of 95 percent in the time of the previous government headed by Nuri al-Maliki.

Al-Hadithi said in a televised statement that "the government has succeeded in reducing the dependence on oil imports and reducing its proportion in the public budget to about 85 percent in exchange for diversifying the resources of the state and activating the role of many sectors in the budget of Iraq and work is under way to make further progress in this path."

"The result of the financial crisis in Iraq is the cause of the collapse of oil prices in world markets and their decline to unprecedented levels.

He explained that the government was forced to follow economic policies imposed by the crisis in order to meet the financial obligations of the government towards Iraqi forces and the requirements of the war on terrorism, as well as about seven million citizens receive monthly salaries from the state and the amount of more than four trillion dinars per month
in addition to other financial obligations owed by the government to farmers and contractors.


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