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Sources: Parliament is considering reducing the price of oil in the budget of 2019Parliamentary sources revealed on Monday the intention of the Parliamentary Finance Committee to reduce the price of a barrel of oil in the budget in 2019 due to the sudden drop in oil prices in world markets.
The sources said that "the parliamentary finance committee is considering reducing the price of a barrel of oil in the budget from $ 56 to $ 50 a barrel, because of the significant decline in oil prices in world markets."
"The survival of the oil price at $ 56 in the budget of 2019 may lead to a large fiscal deficit that the government can not pay."
The government has sent the draft budget bill 2019 to parliament for the purpose of discussion and vote.
The government has sent the draft budget bill 2019 to parliament for the purpose of discussion and vote.
For its part, revealed the Finance Committee parliamentary, the size of the fiscal deficit in the federal budget for 2019, while was likely to reduce the price of selling oil barrels to $ 40 within the budget after the decline in world prices.
"The budget deficit will exceed 45 trillion Iraqi dinars after the fall of world oil prices to a large extent during the current stage," said member of the Committee Siham al-Aqili, pointing out that "the fiscal deficit was estimated at 27 trillion dinars in case the budget approved the sale of oil barrels at $ 56" .
She added that "the Finance Committee will hold a meeting on Monday with the Ministry of Finance to consider the decline in international oil prices and reached $ 58," likely "to reduce the sale price of oil barrel about $ 40 in the budget to reduce the rise of fiscal deficit.
She pointed out that "the decline in world oil prices will cause delays in the completion of the budget and approval within the House of Representatives," indicating that "there is a great possibility in the restoration of financial procedures on the federal budget and change."
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