Tuesday, May 9, 2017

Iraq to quit austerity measures following oil prices' rise

Baghdad/ Iraq TradeLink: Iraqi finance ministry announced that the increase in oil prices necessitates
an increase in governmental expenditures.

The new Iraqi decision resembles the moves by Saudi Arabia when announced that the volume of the deficits are lesser than expected, economic observers believe here.

Acting Minister Abdul Razzaq al-Issa called the governmental department to make their expenditures' road maps  according to actual needs that will permit to deal with any deficit in the federal budget.

Iraq initiated with the World Bank a reform project for financial administration in the country.