Tishwash: Advisor to the Prime Minister: The government may not need to borrow for this reason
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, meaning that 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 complementary budget between Saleh, that finding a supplementary budget is not necessary, but remains according to the government’s need and the extent of the strength of the revenues, and whether there are important projects that are deferred that need a supplementary budget link
Tishwash: Oil hits new high and Brent crude above $65 per barrel
Oil prices rose towards a dollar on Monday, driven by optimism in the global economy thanks to progress in a massive U.S. stimulus package and hopes for improved oil demand.
Brent crude futures were up 92 cents, or 1.43 percent, to $65.43 a barrel by 0454 GMT.
West Texas Intermediate futures jumped 90 cents, or 1.46 percent, to $62.41 a barrel.
This comes after the U.S. House of Representatives approved a $1.9 trillion Coronavirus relief package early Saturday and sent it to the Senate, where Democrats planned a legislative maneuver to allow it to pass without Republican support.
In Japan, a special survey showed factory activity expanded at the fastest pace in more than two years in February, adding signs of recovery in Asian growth.
On the other hand, investors are betting that the meeting of the Organization of Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, will lead to more supply returning to the market. link
Cutebwoy: Zafer Al-Ani: Parliament Will Continue Its Sessions Until The Budget Is Approved
On February 28, 2021
The Independent / – Member of Parliament Zafer Al-Ani confirmed that Parliament will continue its sessions starting tomorrow, the first Monday of March, until the budget law is approved.
Al-Ani said in a press statement, which was followed by Al-Independent today, Sunday, that the budget has reached its final stages, leaving nothing but the announcement of the agreement with the Kurdistan region regarding the percentage determined for it in the budget and other matters that will be completed within the next few days.
Al-Ani added that: the approval of the budget will be attended by everyone at the end of this week.
The House of Representatives is scheduled to begin its sessions on Monday.