Parliamentary finance shows the mechanism of bridging the fiscal deficit in the 2020 budget
15:50 - 3/18/2020
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Wednesday, the Parliamentary Finance Committee indicated a mechanism for dealing with the expected financial deficit in the draft federal budget law for 2020 after the collapse of oil prices.
Committee member Hanin Qaddo said in a statement to "Information", that "calls to raise or lower the price of selling a barrel of oil in the budget of 2020 to avoid a high rate of deficit risk and will not be realized," pointing out that "the House of Representatives will go to solve the deficit crisis by transferring the funds of the investment part of the operational or Reducing some expenses. ”
He added that "the government will resort to internal borrowing from governmental and private banks to fill the expected deficit in the 2020 budget", indicating that "the expected deficit may reach more than 70 trillion dinars and may rise or fall after studying the budget law within the House of Representatives."
Oil prices fell for the third consecutive session, on Wednesday, to record a decline of 17 percent since the beginning of this week, with expectations of demand for fuel deteriorating to appear darker amid a halt to travel and social activities due to the Corona virus epidemic. It ended 25 T.