Advisor to the Prime Minister: The government may not need to borrow for this reason
Economy News _ Baghdad… The advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Monday, that the difference in the price of a barrel of oil in the budget goes to fill the deficit, and the government may not need to borrow, indicating that developing a supplementary budget remains according to the government’s need.
In an interview followed by Al-Eqtisad News, Saleh said that the budget was based on a deficit, meaning that the expenditures are more, and there can be borrowing, but the difference in the price of a barrel of oil today closes the deficit, so there is no need for borrowing, that is, the surplus replaces borrowings.
He added that this difference in the price of a barrel of oil closes the budget deficit, and the government may not need to borrow, noting that this does not mean that there is no final borrowing, but the difference is compensated, and there may be a surplus, and this depends on the stability of oil prices.
And on the existence of a supplementary budget between Saleh, that finding a supplementary budget is not necessary, but remains according to the need of the government and the extent of the strength of the revenues, and whether there are important projects that are deferred that need a supplementary budget.