Petro-dollar project will give the oil-producing provinces of their rights
20/02/2012


BAGHDAD - Al Sabah
Ruled out the economic expert, Abdul-Sattar al-Bayati, the impact of the project petrodollar to the financial allocations of the general budget, the fact that there is a plan with the Ministry of Oil to increase production of oil.
Bayati said: You must implement a project petrodollar being a grant to the provinces of their rights, which is produced from oil, noting that most of those provinces suffering from lack of services and infrastructure, in addition to the lack of financial allocations assigned to them by the federal government.
He added that the implementation of the petro-dollar will not affect the financial allocations of the general budget thanks to plans by the Ministry of Oil to increase oil production and export capacity of oil, as well as an increase in oil prices, global markets as a result of economic crises experienced by some countries.
He explained: the federal government to take into account Mahromeh some provinces and poverty rates that increase each year, although it is rich in oil resources, calling to give part of the oil imports of Finance to those provinces and give them full power to act on this money to eradicate poverty and promote aspects of service and economic to the provinces.
He noted: the importance of a comprehensive study before the implementation of this project is to identify the most important developments that must be taken through the application of this law in order to avoid economic problems in the country that may occur during the implementation of this law.
He said: that the economy is still one-sided Rieia In the event of delays in project work oil or low oil prices will lead to a global economic crisis is difficult to solve in the country

source: (alsabaah)