PFC reducing the total budget expenditures and raises the price of a barrel of oil to 45 dollars

Baghdad - INA

The Parliamentary Finance Committee announced today, Friday that the price of a barrel of oil will be raised in the budget to $45.

The committee reporter, Deputy Ahmed Al-Saffar, told the Iraqi News Agency (INA) that "the committee reduced the total expenditures from 164 trillion dinars to less than 130 trillion, in the draft federal budget law for the fiscal year 2021," noting that "the committee continues its sessions daily and for nearly two weeks. The first review of all the articles included in the draft budget has been completed, and the final reading has begun.

He added, "The committee has reached Article 12 and there are clear changes in the overall, and there are also proposals, as well as maximizing public revenues according to raising the price of a barrel of oil from 42 dollars to 45, and thus the deficit was reduced to more than 57%, which is less than 30 trillion.”.