Almaalomah

Economist: determine $56 to sell oil in the budget will enter the country with a financial crisis

considered the economic expert Majid picture, Monday, determine the $ 56 sale price of a barrel of oil within the federal budget for 2019 that will introduce the country into a major financial crisis, with thegovernment expected to go towards the international borrowing to resolve the fiscal deficit crisis.

“The price of the sale of a barrel of oil up to $ 56 within the federal budget for 2019 is incorrect and it was necessary to reduce the limit of $ 40 to $ 46 to avoid the fiscal deficit,” said the picture in a statement to the information, “pointing out that” Stable and not reduce the sale price of oil within the budget will expose the country to significant economic risks.”

He added that “the government will be exposed to a major financial crisis as a result of not reducing the price of selling barrels of oil,” noting that “those risks will push the government towards international borrowing again and reduce public expenditure and investment.”

A parliamentary source in the Finance Committee has revealed, on Saturday, the determination of the share of Kurdistan in the budget of 2019 by 12% and set the price of a barrel of oil at $ 56 per barrel. Source