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[size=36]Will Iraq resort to borrowing if the oil price reaches $ 70?[/size]
Political| 01:27 - 28/03/2021
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BAGHDAD - Mawazine News,
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, stressed on Sunday the need to provide the General Budget Stabilization Fund for 2021, while indicating that Iraq will not resort to borrowing if the oil price reaches $ 70.
According to the official agency, Saleh said, "The budget stabilization fund must be available as a sovereign precautionary fund against the risk of fluctuation or decline in the sustainability of revenues, since oil revenues constitute more than 92% of the total public revenues in the budget."
He added that "the price of a barrel of oil should not be less than $ 70 to reach a balanced budget without resorting to borrowing to finance the annual deficit in the general budget." Ended 29 / A 43
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, stressed on Sunday the need to provide the General Budget Stabilization Fund for 2021, while indicating that Iraq will not resort to borrowing if the oil price reaches $ 70.
According to the official agency, Saleh said, "The budget stabilization fund must be available as a sovereign precautionary fund against the risk of fluctuation or decline in the sustainability of revenues, since oil revenues constitute more than 92% of the total public revenues in the budget."
He added that "the price of a barrel of oil should not be less than $ 70 to reach a balanced budget without resorting to borrowing to finance the annual deficit in the general budget." Ended 29 / A 43
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