An economist who explains how to overcome the fiscal deficit in the budget
An economist who explains how to overcome the fiscal deficit in the budget
4-30-2023
Information / Baghdad…
The economist, Dr. Safwan Qusay, explained that Iraq needs the price of a barrel of oil in the budget to be $90 in order to overcome the deficit and avoid resorting to internal borrowing.
Qusai said to Al-Maalouma, “The financial deficit in the budget is rounded up through the financial surplus, which amounts to 20 billion dollars, and there is also a possibility to reduce the financing of the deficit so that the Ministry of Finance does not finance the allocated allocations, and also that the budget opened the window for internal borrowing from Iraqi banks at the expense of the bank’s reserves.” central”.
He added, “It is hoped that oil prices will rise in order to cover the deficit, as Iraq needs the price of a barrel of oil to be $90 in order for there to be financing for the deficit away from borrowing.”
And he indicated that “the positive outlook for oil prices during the current year may be that Iraq will achieve a rise in prices, so that the price of a barrel during the current year is 82 dollars.”
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