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Economist: The government needs a supplementary budget to manage surplus oil revenues
10:45 - 21/09/2018
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The economic expert, on behalf of Jamil Antoine, on Friday, the need for the government to a supplementary budget voted on in Parliament to act surplus oil revenues, indicating that the government does not disclose the size of the amount in possession of surplus oil as it suffers a budget deficit of more than 13 trillion dinars.
"The amount of surplus oil revenues is not disclosed by the government because its budget suffers a deficit of more than 13 trillion dinars," Antoine said in a statement.
He pointed out that "the government can not act with surplus oil revenues because the budget voted by the parliament and the disposal of the surplus is through a supplementary budget approved by the House of Representatives."
He explained that "the government's debt to the Central Bank of up to 20 trillion dinars, and there is a separation between what the central bank and the state budget."
He stressed that "the budget provided for the year 2019 calculated the price of a barrel of oil at $ 55-60 dollars, is the budget of speculation may raise the price of a barrel or decline, which made the government to put this budget."
Antoine denied that "the existence of an explosive budget, the treasury of the government required more than $ 100 billion internally and externally, and thus will use their money to repay their debts in addition to supporting the private sectors, industrial and agricultural." End 25 n
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