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

Employees in one of the real estate registration departments

money and business

Economy News – Baghdad:

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.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s