The Parliament: Expected numbers for oil prices, deficit, 2023 budget

Economy

30-11-2022, 20:01

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INA – BAGHDAD

Parliamentary Finance Committee announced the expected figures for the oil prices, the deficit, and the size of the 2023 budget.

"The total rate of the 2023 budget is to be ranged around 110 to 120 trillion dinars, depending on the expected expenditures,” said the Committee MP Mueen Al-Kadhimi to the Iraqi News Agency – INA.

He included, "In the event that the total rate of budget revenues reaches 140 trillion dinars, then the expected deficit is 20 trillion dinars," noting that "if the government increases financial revenues via tax, customs, and the currency sale, the deficit will be reduced to 10 trillion dinars."

Al-Kadhimi said, "The price of a barrel of oil in the 2021 budget reached $45, while in the 2023 budget it will be more than $60."