Al-Kazemi’s advisor: The oil price surplus will end the fiscal deficit for the 2021 budgetموازنة

by **claud39** Sat Jun 26, 2021 7:15 pm

Al-Kazemi’s advisor: The oil price surplus will end the fiscal deficit for the 2021 budgetموازنة

2021-06-26

Al-Kazemi’s advisor: The oil price surplus will end the fiscal deficit for the 2021 budgetموازنة 1624727221345

Shafaq News/ The economic advisor to Prime Minister Mustafa Al-Kazemi considered, on Saturday, that the surplus of oil prices above the price specified in the budget law will end the fiscal deficit for the year 2021, while noting that Iraq exports 2.9 million barrels per day.

Counselor Mazhar Muhammad Salih told Shafak News Agency; “The price of one barrel of oil is set by the budget law at $45, and what is more than the specified price will compensate for the financial deficit in the budget law for the year 2021.”

He added that "the stability of oil prices at around $70 at the end of this year, the Iraqi government will not go to borrowing and compensate for the financial deficit from high oil prices," noting that "Iraq exports 2.9 million barrels daily."

The government advisor indicated that "the oil surplus over the price set by the budget law will reduce or end the fiscal deficit in the fiscal year 2021."

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