To avoid the deficit.. a parliamentarian presents a solution to resolve the oil price clause in the budget
To avoid the deficit.. a parliamentarian presents a solution to resolve the oil price clause in the budget
4-8-2023
Information/exclusive..
Member of Parliament, Rafik al-Salhi, proposed today, Saturday, a mechanism to settle the oil price clause in the budget law, while he expected it to be passed during the holy month of Ramadan.
Al-Salhi said in an interview with Al-Maalouma agency, “The House of Representatives will vote during the blessed month of Ramadan on the draft budget law for the current year and resolve the matter.”
As for the varying oil prices, and their relationship to the price specified in the Iraqi budget, Al-Salihi stressed: “It is necessary to set a price lower than the current prices offered in the global markets so that there is no large deficit in the budget,” noting that “this is what has been worked on during all sessions.” government in previous years.
The member of the House of Representatives explained, “Oil prices are evaluated at a lower price than the current price, so that there is no economic turmoil about the matter and thus causes disruption of the budget.”
And Al-Salhi stated, “The first and last goal of the House of Representatives at the present time is to pass the budget, given that many projects and important works for the Iraqi people depend on this law.”
The Council of Ministers had estimated oil prices in the financial budget law at 70 dollars, which sparked an economic controversy, especially with the fluctuation of prices in global markets.
Last Wednesday, the House of Representatives held the first session to read the draft budget for the current year, which focused on defining the budget items and its most important paragraphs.
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