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Parliamentary Finance issues a clarification on the rise in oil prices and the possibility of closing the fiscal deficit
- Time: 07/03/2021 13:15:56
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{Economic: Al Furat News} The Parliamentary Finance Committee issued a clarification on the rise in oil prices and the possibility of filling the budget deficit.
The useful summary.. In important news, you can find it in the Euphrates News channel on the telegram.. [You must be registered and logged in to see this link.]
The head of the committee, Haitham al-Jubouri, stated that "so far, according to the new oil prices, the financial deficit in the budget has not been filled, despite the fact that oil reached $75, but Iraqi oil is lower than international prices, with the exception of Basra Light oil, in addition to the cost of oil production."
And he indicated that "a barrel of oil after extracting it is liquidated from its price of 60 dollars after hitting it with a production of 2 million 880 thousand times 365 days and hitting it in the exchange rate, we find that it did not fill the deficit in the budget."
He pointed out that "the budget is 130 trillion, and at current prices, we still have a real deficit in investment and operational expenditures of 30 trillion." We are surprised by the talk of some about the existence of financial abundance.
He added, "The abundance that is achieved goes to fill the financial deficit in the budget, and therefore we still need to return the million barrels that were deducted from the quantities that Iraq is supposed to produce according to the OPEC agreement so that we can completely fill the real deficit to spend the budget, but in the current situation it is still The deficit is there."
Raghad Daham
[You must be registered and logged in to see this link.]
{Economic: Al Furat News} The Parliamentary Finance Committee issued a clarification on the rise in oil prices and the possibility of filling the budget deficit.
The useful summary.. In important news, you can find it in the Euphrates News channel on the telegram.. [You must be registered and logged in to see this link.]
The head of the committee, Haitham al-Jubouri, stated that "so far, according to the new oil prices, the financial deficit in the budget has not been filled, despite the fact that oil reached $75, but Iraqi oil is lower than international prices, with the exception of Basra Light oil, in addition to the cost of oil production."
And he indicated that "a barrel of oil after extracting it is liquidated from its price of 60 dollars after hitting it with a production of 2 million 880 thousand times 365 days and hitting it in the exchange rate, we find that it did not fill the deficit in the budget."
He pointed out that "the budget is 130 trillion, and at current prices, we still have a real deficit in investment and operational expenditures of 30 trillion." We are surprised by the talk of some about the existence of financial abundance.
He added, "The abundance that is achieved goes to fill the financial deficit in the budget, and therefore we still need to return the million barrels that were deducted from the quantities that Iraq is supposed to produce according to the OPEC agreement so that we can completely fill the real deficit to spend the budget, but in the current situation it is still The deficit is there."
Raghad Daham
[You must be registered and logged in to see this link.]
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