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A source for Economy News: Iraq adopts the price of $ 30 a barrel of oil in the budget for the year 2020

A well-informed source revealed, today, Wednesday, that the cabinet approved the price of a barrel of oil at $ 30 for the current year budget and a deficit of 20 trillion dinars.

The source, who preferred not to reveal himself to “Al-Iqtisad News”, said that “the advisory committee in the cabinet discussed with the Ministry of Finance and the Parliamentary Finance Committee the issue of adopting the price of $ 30 instead of $ 56 and that was approved by the Ministry of Finance.”

He added that “the planned deficit in the budget for the current year after its recent update amounted to 20 trillion dinars.”

He stressed that the Iraqi government will put forward a set of proposals to parliament to reduce the deficit, including offering bonds that the central bank purchases and borrow from government banks and external borrowing. Source