PFC: High oil prices will cover the budget deficit

Baghdad - INA

The Parliamentary Finance Committee confirmed, today, Thursday, that high oil prices will cover the operational budget deficit without going to external or internal loans.

A member of the committee, Abdul Hadi Al-Saadawi, said in a statement to the Iraqi News Agency (INA) that "in the event that oil exports increase and oil revenues are achieved as a result of high oil prices at current prices that approached seventy dollars or exceeded seventy with the passage of time, this will eliminate the need for internal loans or The foreign budget in the budget, "noting that" the high spending of the operational budget and the increase in appointments during previous years has a negative impact on the budget and that "any increase in oil prices will go to cover the budget and the deficit only, and there is no supplementary budget or adding functional grades."

Oil prices continued their gains, today, Thursday, after a one percent rise in the previous session, as positive expectations about a recovery in demand this summer overshadowed concerns about the impact of an increase in the number of infections in India, Japan and Brazil.