Proposed oil price for budget purposes practical

BAGHDAD / IraqiNews.com: An Iraqi economist said that proposed oil price for coming year budget’s purposes is practical, one day after the Iraqi government announced that the proposed oil price in the 2009 budget will be less than $ 60 a barrel. “Reduction in oil prices will cause a reduction in Iraq’s budget of coming year by 12 billion U.S. dollar,” Abduljabbar al-Halfi told IraqiNews.com. “This is a big loss,” he said. The oil price adopted by Iraq’s 2008 budget was $ 80. MH (P)/SR   1