Parliamentary Finance: The adoption of the price of $ 45 a barrel of oil is far from reality

by **RamblerNash** Tue Mar 09, 2021 2:02 am

03/08/2021

Economy News - Baghdad

The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, considered, Monday, that the adoption of the exchange rate of $ 45 in the budget is far from reality because all the data and expectations of oil experts that the price of oil will range between $ 61 to $ 69 during the year 2021, indicating that it was more appropriate to calculate the price of a barrel Oil, at least $ 50.

Al-Saffar said in a press interview, "Building the budget on the price of a barrel of oil at $ 45 is far from reality, as the last months of last year seemed to rise rapidly according to data expected, including finding vaccines for Corona and a significant drop in the US oil reserve."

He added, “Most of the members of the Finance Committee called on the government to adopt a price of $ 50 a barrel, and this is true, but the government refused to do so,” indicating that “if $ 50 was approved, it would provide us with 20 trillion dinars in the budget, and this will definitely reduce the budget deficit significantly and provide job grades And revitalizing the private sector, education and health.

Al-Saffar pointed out that "the committee raised the size of the budget to 129 trillion to support important sectors, based on financial abundance as a result of high oil prices, and perhaps we will work to conduct a supplementary budget after the seventh month if oil prices continue at this level."

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