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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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ADVISER TO THE PRIME MINISTER SETS A CONDITION FOR SETTING A DEFICIT-FREE BUDGET

rocky
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ADVISER TO THE PRIME MINISTER SETS A CONDITION FOR SETTING A DEFICIT-FREE BUDGET Empty ADVISER TO THE PRIME MINISTER SETS A CONDITION FOR SETTING A DEFICIT-FREE BUDGET

Post by rocky Thu 17 Feb 2022, 6:07 am

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ADVISER TO THE PRIME MINISTER SETS A CONDITION FOR SETTING A DEFICIT-FREE BUDGET
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[You must be registered and logged in to see this link.]3 hours ago40


Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified three factors for drawing the roadmap for the general budget 2022.
Saleh said, to the official agency, and followed by the news agency, that "there are three factors that should be remedied before rushing to think about adjusting the average return of a barrel of oil for the purposes of the 2022 budget. Or even accepting a hypothetical deficit in proportion to what was stated in the Financial Management Law, i.e. 3% of the country’s gross domestic product.
He continued, "For example, a balanced public budget can be designed with an annual spending ceiling of 140 trillion dinars (without a deficit), provided that the average annual exported oil barrel revenue is not less than 72-74 dollars and an export capacity of no less than 2-3 million barrels per day. Assuming that the efficiency of non-oil revenues may be achieved at a modest rate of 50% of what was planned or according to the criteria of what was achieved in 2021.
He added, "The second factor is to ensure the sustainability of oil prices on a price basis of at least $72 per barrel and for reassuring annual periods without sharp fluctuations in the oil asset price cycle, and in my estimation, it is no less than three years."
He pointed out that "the third factor is hedging with a government stability account that has the ability to cover the costs of government investment projects for the lack of financial supplies due to the drop in oil prices for at least 6 months, that is, in the event that oil prices drop below an average of $72 per barrel in a way that exposes public revenues to risks." The decline in the global oil market prices, or hedging an account to provide government salaries and pensions for a comfortable coverage period of at least six months.
And he concluded, by saying: "In light of these considerations or the three restrictions above, the price of a barrel of oil is supposed to be decided and its movements for the purposes of the 2022 general budget are accurately and calculated."
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