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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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    Sudanese Advisor: The rise in oil prices reduces the gap in the hypothetical budget deficit

    Rocky
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    • Post n°1

    Sudanese Advisor: The rise in oil prices reduces the gap in the hypothetical budget deficit Empty Sudanese Advisor: The rise in oil prices reduces the gap in the hypothetical budget deficit

    Post by Rocky Sat 09 Sep 2023, 7:18 am

    [size=33]Sudanese Advisor: The rise in oil prices reduces the gap in the hypothetical budget deficit
    What matters is that the average prices of exported oil during the fiscal year exceed that hypothetical price[/size]
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    Zagros Arabia - Erbil

    The financial advisor to the Prime Minister, Mazhar Mohamed Saleh, confirmed today, Saturday (September 9, 2023), that the rise in oil asset cycle prices reduces the hypothetical deficit gap in the federal general budget.

    Saleh said in a media interview carried by the official news agency, and followed by Zagros Arabia: “The oil markets indicate a tangible rise in the prices of the cycle of oil assets, as Brent crude oil has exceeded the barrier of $90 per barrel, which has a positive impact on reducing the hypothetical deficit gap in the federal general budget.” (This is the budget approved under Law No. 13 of 2013), estimated at approximately 64 trillion dinars as an average deficit in the fiscal years 2023, 2024 and 2025, which was adopted as a preventive financial buffer to confront fluctuations in oil prices and demand surprises in energy markets.

    He added, "What matters is that the average prices of exported oil during the fiscal year exceed the default price approved by the budget for a barrel of Iraqi exported oil, amounting to 70 US dollars. Therefore, any sales exceeding the aforementioned default price will undoubtedly lead to reducing the gap in the hypothetical deficit and in a clear inverse relationship." ".

    He continued: “We believe that the budget for the next two years will maintain its constants and its preventive and precautionary measures, regarding the development of prices in the oil markets, and the relationship of this to the hypothetical deficit, especially for the fiscal year 2024, as the northern hemisphere is facing high demand to build stocks facing the winter, and indicators The war in Ukraine indicates its continuation, and that the OPEC Plus group is also continuing the policy of limiting the quantities produced to maintain prices for exported oil that are commensurate with the stability of the revenues of its countries’ financial budgets.”

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