Abdul Mahdi's advisor: The price of a barrel of oil in the 2020 budget will be close to last year

by **claud39** on Wed Jan 29, 2020 9:22 am

Abdul Mahdi's advisor: The price of a barrel of oil in the 2020 budget will be close to last year

29/01/2020

Economy News _ Baghdad

The appearance of Mohamed Saleh, financial advisor to the Prime Minister, Adel Abdel-Mahdi, on Wednesday, it is likely that the price of a barrel of oil approved in the 2020 budget will be close to last year 2019, expecting the budget to mature in the coming weeks.

The financial advisor attributed the delay in approving the budget for the current year to "the conditions that the country has experienced recently, and the occurrence of many changes, including spending obligations and government decisions, and decisions of the House of Representatives according to the powers of the relevant authorities, which formed additional financial obligations on the budget, which led to a financial deficit." There is a lot in it, so the cabinet returned it after discussing it to the Ministry of Finance to reconsider some of the spending decisions, and to study some revenues in a way that makes them sustainable.

Saleh expected, "The maturity of the budget during the coming weeks, especially as there is consultation, understanding and exchange of ideas and opinions by the concerned authorities, in an attempt to take measures in a way that makes the budget permanent, and enhance resources as much as possible, reduce deficits, and control debts."

He suggested that "the price of the approved barrel of oil in the budget will be close to last year 2019".
He pointed out that "the bodies concerned with preparing the budget work to make the deficit subject to financing and reduction at the same time through alternatives and priorities for spending and projects and presenting the most important on the important and re-arranging the so-called" financial space for the management of resources and the running of the budget, especially there is an expansion of exchange so the budget needs to restore Prepare it in the exchange doors and maximize some non-oil revenues. "

He explained, "According to the timing, the budget should have been completed at the end of October of last year," expressing his regret in the event of the end of the fiscal year and then passing the budget for approval, as it will be similar to the year 2014, meaning that the spending according to the Financial Management Law in force will be 1 on 12 of the actual expenditures for the 2019 budget. "

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