Almaalomah

Parliamentary Planning: Budget 2020 will adopt the price of $ 56 per barrel of oil

The Parliamentary Planning Committee confirmed on Sunday that the draft federal budget law for 2020 will be prepared at a price of 56 dollars per barrel of oil.

Committee member Mohammed Karim said in a statement to the information, that “$ 56 per barrel of oil will be the initial price fixed in the draft federal budget for 2020 ″, pointing out that” the proportion of fiscal deficit in the 2020 budget is inaccurate and hypothetical only.

He added that “the sale price of a barrel of oil in the budget will rise or fall according to oil markets, the parliament will go to reduce the sale price of a barrel in the budget if the world oil prices fall below $ 50.”

Earlier, the parliamentary Finance Committee revealed a large deficit in the budget of 2020 to reach 72 trillion dinars, after a year described as prosperous was a deficit of 27 trillion guesses compared to what is expected next year. Source