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Economy News - Baghdad
The Parliamentary Finance Committee revealed a map of the exchange of financial differences resulting from the high selling prices of oil, noting the absence of a supplementary budget in the House of Representatives.
Committee member Jamal Cougar said, in a statement reported by "Al-Mada" and seen by "Economy News", that "the differences in the price of a barrel of oil from the 2021 budget, which it set at $45, go to four chapters."
He added that "one of these doors is to bridge the real deficit in the fiscal budget for the current year."
He continued, "The other door to which these differences go is to strengthen the cash reserve in the Central Bank, while the other door includes the payment of the Diwan, which falls on Iraq, and finally part of these differences goes to pay for the lack of liquidity."
And regarding the existence of a supplementary financial budget, Cougar pointed out that "Parliament has not yet received any bill related to the supplementary budget."
He continued, "There are many factors in order to present a supplementary budget, the most important of which is if there are large differences between the estimated resources in the budget and the real budget, and this does not exist."
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