Tomorrow Press / follow-up:
Announced, Prime Minister’s Advisor for Saon financial fundamental, the appearance of Mohammed Saleh, for fiscal policy, on Friday, said that the government’s investment in the energy sector amounted to about $ 21 billion during the current year 2016 problem 13% of the volume of gross domestic product.
He said Saleh told the “Anatolia” news, and followed “Tomorrow Press” that “oil investment has developed in Iraq during the current year, especially in the central and southern regions of the country, and oil exports now reached the ceiling set in the budget of 2016 by 3.6 million barrels per day.”
Saleh pointed out that “the total government investment in the energy sector currently stands at about $ 21 billion and constitute 13% of the size of gross domestic product, in addition to private-sector, which accounts for about 8% of the gross domestic product investments.”
He continued that “the current oil production volume in the whole of Iraq amounted to 4 million barrels of oil per day, while exports amounted to 3.6 million barrels per day, which led to large amounts Maahklh raise the proportion of energy profile of the country’s gross domestic product.”
Iraq is the second largest oil exporter in the Organization of “OPEC” and relies on crude exports to finance about 95% of the state’s expenses.
The Iraqi government has resorted to raising the sales tax on imported goods in order to strengthen the fiscal revenue to dismiss the size of the financial crisis faced by the country as a result of low oil prices in world markets to below the ceiling of $ 50 per barrel each.