Parliamentary Finance: the revised budget for 2017 needs to be revised Date Added 07/10/2017
According to the parliamentary member of the Finance Magda Tamimi on Monday, said the revised draft budget (supplementary) for the current year need to be modified

She said in a press release obtained "Economy News" a copy of it, that "the House of Representatives read the draft federal budget for the amended fiscal year 2017 the first reading last Saturday through which the government has reconsidered assignments budget in both its current and investment oil and non-oil revenues

She added Tamimi, said, which was estimated revised budget revenues in the amount of (82.069) trillion dinars, an increase of (3,058) trillion dinars and the calculation of the income earned from the export of crude oil on the basis of the average price (44.4) dollars a barrel and an increase of 2.4 dollars per barrel with a high in total expenditure allocations in the amount of (6418) trillion dinars
She said , The share of the investment budget of the increase the amount of (3.077) trillion dinars , while the increase in current for the amount of budget allocations (3.34) trillion dinars to reflect negatively on the increase in the deficit to (25.019) trillion dinars an increase of (3.36) trillion dinars with low in the estimation of non - oil revenues in the amount of (0.825) trillion dinars and a rise in oil revenues , estimated at $ (3,883) trillion dinars due to overestimate the price of a barrel of oil

She noted that was supposed not to go to increase the estimate of oil revenues, because the chance achieved very weak as it is noted that the price of a barrel decline in knowing that the indicators point to an inevitable rise in the price of a barrel because of the US oil and oil derivatives and assurances member states stocks in the Organization of Petroleum Exporting Countries to reduce production at least in the next six months but it happens, and as indicated by the oil expert (Hamza jeweler) that there is flooding from certain countries unannounced and possible limited to countries that have a production capacity and export surplus in only three countries (Saudi Arabia - United Arab Emirates - Kuwait) and most of the country Anmala which pursues a policy of dumping is the Kingdom of Saudi Arabia as it is trying to bill paid to America, amounting to cover $ 500 billion and this means that there is an oil source outside the scope of the OPEC budget market

Tamimi expressed about the belief that going to increase the price of a barrel unfortunate than further adjusted for realism and accuracy the budget https://economy-news.net/content.php?id=8177