MOF: oil prices increase put an end to borrowing

politics
  • 12-11-2018, 10:23
    • +A -A

    INA-Baghdad Real budget's deficit of this year was more than IQD19 trillion, not IQD12 trillion, is oil prices increase put an end to borrowing, Ministry of Finance said. 'This deficit came as result of added expenditures and tax cuts, while security expending didn't change at IQD1.4 trillion, Maher Hamad deputy minister of finance said. 'Oil exports are about 100 million b/d, with planned price of $64/b which is below Brent Crude by $7/b, as the ministry didn't receive any revenues from Kurdistan Region of Iraq's oil' he said.

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