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[size=52]Advisor to Al-Kazemi: Iraq will not resort to borrowing if the price of oil reaches $ 70[/size]
[size=45]The Prime Minister’s Adviser for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Sunday, that Iraq will not resort to borrowing if the oil price reaches $ 70 a barrel.[/size]
[size=45]Salih said in a statement that "it is necessary to have a budget stabilization fund as a sovereign hedge fund against the risk of financial sustainability fluctuation or a decline in the sustainability of revenues, since oil revenues constitute more than 92% of total public revenues in the budget."[/size]
[size=45]Noting that "the price of a barrel of oil should not be less than $ 70 to reach a balanced budget without resorting to borrowing to finance the annual deficit in the general budget."[/size]
[size=45]It is noteworthy that the Parliamentary Finance Committee raised the price of a barrel of oil in the budget to $ 45, after it was $ 42.[/size]
[size=45][You must be registered and logged in to see this link.]
[size=45]The Prime Minister’s Adviser for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Sunday, that Iraq will not resort to borrowing if the oil price reaches $ 70 a barrel.[/size]
[size=45]Salih said in a statement that "it is necessary to have a budget stabilization fund as a sovereign hedge fund against the risk of financial sustainability fluctuation or a decline in the sustainability of revenues, since oil revenues constitute more than 92% of total public revenues in the budget."[/size]
[size=45]Noting that "the price of a barrel of oil should not be less than $ 70 to reach a balanced budget without resorting to borrowing to finance the annual deficit in the general budget."[/size]
[size=45]It is noteworthy that the Parliamentary Finance Committee raised the price of a barrel of oil in the budget to $ 45, after it was $ 42.[/size]
[size=45][You must be registered and logged in to see this link.]
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