Parliamentary Finance: We will not reduce the price of oil during the budget
Parliamentary Finance: We will not reduce the price of oil during the budget
4-17-2023
Information / Baghdad..
Today, Monday, a member of the Parliamentary Finance Committee, Jamal Cougar, expected a drop in oil prices during the years 2024 and 2025 below $60, indicating that there is no intention to reduce the price of a barrel of oil in the 2023 budget.
Cougar said, in an interview with Al-Maalouma Agency, that “the Finance Committee has no intention to reduce the price of a barrel of oil specified in the budget, which amounts to 70 dollars.”
He added, “Parliamentary Finance plans to reduce the price of a barrel of oil in the 2024 and 2025 budgets, according to global indicators.”
Cougar indicated that “all expectations indicate that crude oil prices will average $50 and $70 during the next two years,” suggesting that “there will be work to amend some important paragraphs in the budget after the second reading.”
And a member of the Parliamentary Legal Committee, Muhammad Anouz, had revealed earlier, the parliament’s intention to reduce the budget deficit for the fiscal year 2023 in favor of the poor classes.
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