Ministry of Finance announced on Tuesday, for discussion of the federal state budget strategy, as showed that the adoption of oil alone “sends messages is reassuring.”
He said Finance Minister Abdul Razzaq al-Essa said in a statement obtained “Economy News” a copy of it, “the ministry discussed the federal state budget strategy in the presence of representatives of the ministries and a number of members of the House of Representatives,” noting that he “discussed the priorities that represent the line to proceed in shaping the federal budget in the light of the economic and financial potential of the state. “
He added Alissa, that “the adoption of oil alone resource sends messages and indicators of non-reassuring economic level,” asserting that “the rise in oil prices entails a rise in the level of government spending.”
He continued Alissa, that “coordination with international financial organizations in this area develop important steps in the path of modernization of financial systems that impose a complete shift to sophisticated electronic financial management system down and to achieve a high level of transparency that ensures surround the effects of corruption in the joints responsible for economic and financial profile of the country “.
He urged Al-Issa, state ministries and institutions of all the “roadmap according to the order of expenditure for the urgent need and adjust their revenues so as to achieve a sufficient amount of treatment for any deficit ratio that may arise on the federal budget.”