Parliamentary Finance: Iraq's financial opportunities will not be repeated again

Economy News _ Baghdad

A member of the parliamentary finance committee Jabbar al-Abadi said on Friday that Iraq will witness a significant economic improvement in the coming years.

"The economic situation in Iraq will not witness a major improvement or a qualitative leap due to the global economic data and the oil market on which Iraq depends mainly," Abadi said in an interview with the news agency "Economic News" that "the volume of Iraqi debt exceeded 112 billion "This is a disaster by economic standards."

He added that "Iraq earned huge fortunes in previous years when the oil barrel exceeded the barrier of $ 100, but wasted it in the projects of fictitious and acquired by the corrupt party of politicians and beneficiaries," noting that "this opportunity will not be repeated to Iraq in the coming years to continue indicators of low oil prices and can not Raising production of more than five million barrels per day during the next two decades. "

He said that "oil licensing rounds have harmed the Iraqi economy a lot despite the raising of the level of production, but doubled the cost, especially the fourth round of these licenses."

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