Al-Kazemi’s advisor: The rise in oil prices will push the government not to borrow to fill the deficit
Al-Kazemi’s advisor: The rise in oil prices will push the government not to borrow to fill the deficit
Monday 11 October 2021 | 12:14 pm
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed on Monday that the rise in oil prices will prompt the government not to borrow to fill the budget deficit .
Saleh said, “The rise in oil prices will fill the deficit in the budget, but this rise needs to be sustained and throughout the fiscal year .”
He added, “The budget has set the price of a barrel at 45 dollars, and therefore what concerns us is calculating the average price of a barrel during one year,” expecting that “the average price of a barrel during 12 months is 65 dollars a barrel or a little more .”
He pointed out that “this price would fill in whole or part of the deficit in the budget instead of going to borrow to fill this deficit,” noting that the budget was built on a deficit of 27 trillion dinars during the current year.
aynaliraqnews.com
