Al-Kadhimi’s advisor sets a condition for achieving an actual balance in 2022 budget without a deficit

 
Baghdad-INA
 
Adviser to the Prime Minister for Economic Affairs, Mudher Muhammad Salih, set today, Monday, a condition for achieving an actual balance in the 2022 budget without a deficit.
 
 
"The World Bank expectations, which were launched in late October last year, set out its World Average Oil Price Vision 2022, which it predicted, would be about $74 per barrel as the average over the coming year, and also projected to drop to an annual average of $64 per barrel in 2023," Saleh told the Iraqi News Agency (INA).
 
He added, "The estimated oil revenues at $50 in the draft law on the next year's budget 2022, which was prepared inevitably for a precautionary deficit, may be less than the precautionary deficit shown in the 2021 budget, assuming that the expenditure ceilings in the 2022 budget are similar to what they are in the 2021 budget, then The federal general budget for the year 2022 will achieve a state of actual balance (without any significant deficit),” noting that “this will be if the average price of a barrel of oil in 2022 exceeds, to be about 71-72 dollars per barrel, according to the reality of expected government spending and its ceilings.”