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Mazhar Saleh reveals details of the 2023 budget and the 2024 budget horizon
- Time: 2024/11/24 12:14:48
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{Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Sunday, that the three-year general budget for the year 2023 was hedged by a hypothetical price of $70 per barrel of oil produced, which resulted in a hypothetical annual deficit of 64 trillion Iraqi dinars.
Saleh explained in a statement to {Euphrates News} agency that "crude oil contributes less than 90% of the annual general budget, but the average price per barrel in 2023 reached $83, which covered the deficit and made the budget deficit-free."
Regarding the 2024 budget, Saleh pointed out that “the expected average price of a barrel of oil is about $75 per barrel, which requires some borrowing to support investment expenditures at a rate not exceeding 3% of the gross domestic product,” describing this as “the normal situation according to the principle of Iraq’s fiscal space.”
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{Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Sunday, that the three-year general budget for the year 2023 was hedged by a hypothetical price of $70 per barrel of oil produced, which resulted in a hypothetical annual deficit of 64 trillion Iraqi dinars.
Saleh explained in a statement to {Euphrates News} agency that "crude oil contributes less than 90% of the annual general budget, but the average price per barrel in 2023 reached $83, which covered the deficit and made the budget deficit-free."
Regarding the 2024 budget, Saleh pointed out that “the expected average price of a barrel of oil is about $75 per barrel, which requires some borrowing to support investment expenditures at a rate not exceeding 3% of the gross domestic product,” describing this as “the normal situation according to the principle of Iraq’s fiscal space.”
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