Austerity includes Kurdistan, barrel price will not fall below $35, says member of Parliamentary Finance

(IraqiNews.com) On Sunday, a member in the Parliamentary Finance Committee confirmed, that the fiscal austerity to followed by the government to reduce the budget deficit, will include the Kurdistan region, pointing out that the price of a barrel of oil will not fall below $35.

The member of the Committee and the MP for the Change Mass, Masood Haider said in an interview for a program broadcast by Sumaria TV, and followed by IraqiNews.com, “One of main problems that stand before of the Finance Committee is the problem of spending cuts to reduce the budget deficit with the continuing decline in oil prices,” noting that, “Austerity is one of the solutions to address this deficit, and it will include the Kurdistan region as a part of Iraq as and not an independent state.”

Haider added, “The Council of Ministers voted on the budget on the basis of $60 per barrel, but the continuing decline in oil prices is a major challenge for the House of Representatives for approval,” pointing out that, “According to Iraqi economists in the government, the price of a barrel of oil will not fall below 35 dollars, and then will begin to rise.”