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Saleh: The government may not need borrowing for this reason
10:39 - 01/03/2021
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The information / Baghdad ..
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Monday, that the difference in the price of a barrel of oil in the budget goes to fill the deficit, and the government may not need to borrow, indicating that the development of a supplementary budget remains according to the government's need.
Saleh said in an interview followed by the information, that "the budget is based on a deficit, meaning that the expenditures are more, and there can be borrowing, but the difference in the price of a barrel of oil today closes the deficit, so there is no need for borrowing, that is, the surplus replaces borrowings."
He added, "This difference in the price of a barrel of oil closes the deficit in the budget, and the government may not need to borrow," noting that "this does not mean that there is no final borrowing, but the difference is compensated, and there may be a surplus, and this depends on the stability of prices." Oil ».
And on the existence of a supplementary budget, Saleh indicated that "creating a supplementary budget is not a necessity, but remains according to the government's need and the extent of the revenue strength, and does it have important projects that are deferred that need a supplementary budget." End / 25
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Monday, that the difference in the price of a barrel of oil in the budget goes to fill the deficit, and the government may not need to borrow, indicating that the development of a supplementary budget remains according to the government's need.
Saleh said in an interview followed by the information, that "the budget is based on a deficit, meaning that the expenditures are more, and there can be borrowing, but the difference in the price of a barrel of oil today closes the deficit, so there is no need for borrowing, that is, the surplus replaces borrowings."
He added, "This difference in the price of a barrel of oil closes the deficit in the budget, and the government may not need to borrow," noting that "this does not mean that there is no final borrowing, but the difference is compensated, and there may be a surplus, and this depends on the stability of prices." Oil ».
And on the existence of a supplementary budget, Saleh indicated that "creating a supplementary budget is not a necessity, but remains according to the government's need and the extent of the revenue strength, and does it have important projects that are deferred that need a supplementary budget." End / 25
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