Finance Committee: The budget deficit has been fully covered

Member of the Finance Committee, Ahmed Al-Saffarmoney and business

Economy News – Baghdad

The Parliamentary Finance Committee announced covering the deficit in the 2021 budget.

The committee’s rapporteur, Ahmed Al-Saffar, said in a statement to state television, which was seen by “Al-Iqtisad News”, that “the budget deficit is a planned deficit that was covered when oil prices crossed the $65 per barrel barrier.” 

In another context, Al-Saffar indicated that “the investment budgets spent annually range between 5-10%.” 

He added that the investment budget is set by the Ministry of Planning, while the operational budget is prepared by the Ministry of Finance, which is almost fixed expenses related to wages and salaries.


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