An economist reveals the only way to achieve a deficit-free budget
An economist reveals the only way to achieve a deficit-free budget
2022-12-30
Today, Friday, economist Nabil Al-Marsoumi revealed the only way to achieve a budget free of fiscal deficit in 2023.
Al-Marsoumi said in a blog post, “A recent report by the International Monetary Fund determined the price of oil, which represents the financial break-even point for the budgets of Arab countries in 2023, as it reached $60.6 per barrel in Iraq, but this price does not achieve equality between public expenditures and public revenues in Iraq, Unless you use the oil financial surpluses achieved this year.
He added, “Oil revenues, according to this price, multiplied by oil exports amounting to 3.3 million barrels per day, will be approximately 73 billion dollars, or 106 trillion dinars, while the expected public expenditures in the 2023 budget will not be less than 150 trillion dinars, and the planning deficit will be covered through the achieved oil financial surplus.” in 2022.”
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