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An expert is unlikely to borrow from the government if oil prices continue to rise

Rocky

Rocky: Admin Assist; Posts : 280719
Join date : 2012-12-21

Post n°1

An expert is unlikely to borrow from the government if oil prices continue to rise

by Rocky Sun 19 Nov 2017, 3:41 am

An expert is unlikely to borrow from the government if oil prices continue to rise

09:13 - 19/11/2017

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Information / Baghdad ..

The financial expert in the name of Antoine, Sunday, the need for the government to borrow external to fill the budget deficit next year in the event of continued high global oil prices, indicating that government estimates of the price of a barrel of oil is low, which contributes to reduce the fiscal deficit gap.

"The government estimated the price of a barrel of oil at about $ 42, less than the world price by about $ 7, with export of 3 million and 750 thousand barrels per day," Antoine said.

He added that "the government estimated deficit in the budget next year about 20 trillion dinars, but the International Monetary Fund will force it to reduce the figure to about 15 trillion, and if the continuation of the rise in world oil prices, Iraq will end the fiscal deficit by oil sales."

Antoine said that "non-external borrowing of the government and increase the amounts of domestic production and reduce administrative and financial corruption will contribute to the end of external borrowing fully and contribute to the construction of a national economy is able to compete." Ending / 25 d

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