Parliamentary Finance Committee: Parliament commits the government not to go to external borrowing
2/11/2019

The Parliamentary Finance Committee said on Monday that the House of Representatives has committed the current government not to go towards external borrowing to fill the fiscal deficit in the federal budget for 2019 to curb the rise of external debt of the country, while confirmed that it will resort to domestic borrowing in case of falling price of selling oil below $ 50.

"The government informed us that the price of oil will rise during the next month to approximately $ 65 a barrel, according to economic study," pointing out that "the expected increase will be exploited to fill the shortage of previous months a T suffered a drop in oil prices below $ 50.

" She added that "the House of Representatives committed the current government after going to external borrowing to fill the fiscal deficit in the federal budget for 2019 because of the rise of external debt of the country and prevent the fatigue of the government benefits of external loans,"

indicating that "the government is entitled only to gold to domestic borrowing to fill the financial deficit In the event of a drop in the price of selling oil below the $ 50 in the coming months.

"The economic expert Majid al-Suri, the first Saturday, that the federal budget for 2019 wrongly according to political and regional quotas and free from economic planning, between the sale of oil barrels by 50 Will bring the country to a new financial deficit of $ 8 billion to $ 400 million a year.

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