The Prime Minister’s Economic Adviser sets the terms of the 2022 budget without a deficit
The Prime Minister’s Economic Adviser sets the terms of the 2022 budget without a deficit
20-12-2021 09:48 AM
Today, Monday, Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, set a condition for achieving an actual balance in the 2022 budget without a deficit with the stability of the upcoming budget expenditures similar to the expenditures of the current year.
Saleh said that “the expectations of the World Bank, which was released in late October of last year, in which he set out his vision regarding the average oil prices in the world 2022, which he expected, would be about $74 per barrel on average throughout the next year, and also expected that they would decrease to an annual average.” To reach $64 per barrel in 2023.
He added, “The estimated oil revenues of $50 in the draft law on the next year’s budget 2022, which was prepared inevitably for a precautionary deficit, which may be less than the precautionary deficit shown in the 2021 budget, and assuming that the expenditure ceilings in the 2022 budget are similar to what they are in the 2021 budget, the budget The federal general for the year 2022 will achieve a state of actual balance (without any significant deficit),” noting that “this would be if the average price of a barrel of oil in 2022 exceeded, to be about 71-72 dollars per barrel, according to the reality of expected government spending and its ceilings.”
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