Al-Kazemi government reveals: A rise in the price of a barrel of oil to 75 dollars can address the deficit
Al-Kazemi government reveals: A rise in the price of a barrel of oil to 75 dollars can address the deficit
Wednesday 17 February 2021 | 09:33 am
Mazhar Muhammad Salih, the financial advisor to the Prime Minister, said that the rise in the price of one barrel of oil to $ 75 can address the fiscal deficit in the federal budget for 2021 .
The semi-official Al-Sabah newspaper quoted Saleh as saying that “the break-even point or balance in the budget requires that the average price of an annual barrel of oil exported abroad be at least 75-80 dollars a barrel,” indicating that “when This will close the deficit gap completely, and the sources of borrowing to fill the budget deficit are often automatically canceled . ”
He added, “The government benefits from the current high oil prices, which have reached more than what was written in the budget, especially with the country heading to closure again,” stressing that “this will lead to strengthening the country’s financial leverage to face the problems of social need.”
aynaliraqnews.com
