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The Sudanese financial advisor: The budget is conservative and risks from low oil
- Time: 05/06/2023 14:58:24
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{Economic: Al Furat News} The appearance of Muhammad Salih, the financial advisor to the Prime Minister, Muhammad Shia'a Al-Sudani, confirmed that the draft financial budget law is "conservative".
Saleh told {Euphrates News} agency: "The budget is conservative at an oil price of $70 a barrel, and the important point is that it will spend more than half of the year for the financial life of Iraq, and it sells for more than $70."
However, he added, "However, there are risks from a drop in prices to below $70, so the budget must tighten its discipline more and the most important is presented with regard to expenditures," noting that "price fluctuations remain possibilities."
Saleh pointed out that "the risks will continue to decrease oil prices for months to more than 70 dollars a barrel."
A member of the Parliamentary Finance Committee, Jamal Cougar, said that the decline in oil prices in global markets contradicted the government's expectations in preparing the draft financial budget law.
Cougar told {Euphrates News} agency, "The government has calculated that oil prices will range between 80 and 85 dollars, and that if they fall below those rates, they will have to postpone some paragraphs or projects of the budget and transfer them to other budgets."
From.. Raghad Dahham
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{Economic: Al Furat News} The appearance of Muhammad Salih, the financial advisor to the Prime Minister, Muhammad Shia'a Al-Sudani, confirmed that the draft financial budget law is "conservative".
Saleh told {Euphrates News} agency: "The budget is conservative at an oil price of $70 a barrel, and the important point is that it will spend more than half of the year for the financial life of Iraq, and it sells for more than $70."
However, he added, "However, there are risks from a drop in prices to below $70, so the budget must tighten its discipline more and the most important is presented with regard to expenditures," noting that "price fluctuations remain possibilities."
Saleh pointed out that "the risks will continue to decrease oil prices for months to more than 70 dollars a barrel."
A member of the Parliamentary Finance Committee, Jamal Cougar, said that the decline in oil prices in global markets contradicted the government's expectations in preparing the draft financial budget law.
Cougar told {Euphrates News} agency, "The government has calculated that oil prices will range between 80 and 85 dollars, and that if they fall below those rates, they will have to postpone some paragraphs or projects of the budget and transfer them to other budgets."
From.. Raghad Dahham
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