Najib expects to cover the budget deficit from oil prices

by **Ponee** Sun Mar 02, 2014 9:26 am

Najib expects to cover the budget deficit from oil prices

03/02/2014

Najib expects to cover the budget deficit from oil prices Safe_image.php?d=AQAPGizIMjTuAna8&w=155&h=114&url=https%3A%2F%2Ffbcdn-photos-f-a.akamaihd.net%2Fhphotos-ak-frc1%2Ft1%2F1901381_264591987050790_787799891_a

Said a member of the Finance Committee in the House of Representatives Najeebeh Najib, said that the budget deficit for the fiscal year is not physically present, indicating that the planned deficit is limited to theory and not in practice.

According to Najib "There is another important issue which is that the budget has been prepared on the basis of the sale of oil by $ 90 per barrel while we sell we of oil by $ 115 a barrel, which means adding more funds to the Treasury and therefore there are no concerns at this level." She pointed out that "there is a surplus in terms of operating expenses and do not spend all of what is paid does not exceed, at best, 90% of which is also the investment budget which does not spend more than 50%, which means the actual add resources to the state treasury."

And urged economic circles on the enactment of the current year budget, early, to avoid the problems that frequently access the investment, due to the delay in the adoption of the budget every year.
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