Economist: Iraq has export resources to mitigate the damage caused by the drop in oil prices.

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Economist: Iraq has export resources to mitigate the damage caused by the drop in oil prices.

economic researcher Diaa Abdul Karim explained on Sunday that Iraq has many assets that may be exported overseas and advantage from their revenues, mainly oil derivatives.

Abdul Karim told dinaropinions.com, “there is an urgent need to broaden oil refineries to ensure that gasoline isn’t burned or wasted and to advantage from all derivatives that allows you to attain self-sufficiency and export the remainder abroad.”

He delivered, “The rise and fall inside the fee of a barrel of oil is the most distinguished issue for Iraqi residents as well as for personnel, as all of us is ready and hoping for an growth inside the charge of oil, whilst the authorities ought to first flow toward exporting derivatives.”

He explained that “Iraq has minerals, herbal assets and oil derivatives that can be used to reinforce finances revenues and reduce dependence on oil as the primary source of investment for the finances as a way to avoid international market fluctuations and the shocks it reports every so often.”