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Rebalancing of the Council of Ministers because of lower oil prices
31/12/2014
Likely in the parliamentary finance committee member, on Wednesday, re-draft budget law to the Council of Ministers to make adjustments as a result of the increasing decline in world oil prices, and among that the budget was built on the $ 60 per barrel was today dropped to $ 55, said that the Finance Committee will meet on Sunday for the next two consecutive days to discuss the decline.
Said committee member Ahmed Sarhan that "the continuing decline in oil prices below the level at which it was built the budget will affect the construction of the budget deficit and increase the proportion of it."
And Daav "The Finance Committee will meet on Sunday for two days in a row to discuss the low oil price to build the budget will be presented to the House of Representatives for a vote," noting that "if necessary, will be restored to the Cabinet for modifying them."
He pointed out that "the budget is built on the $ 60 per barrel, but today, bringing to $ 55 a barrel and rising oil prices will affect low to pass the budget."
It is said that global oil markets have recorded price of $ 55 per barrel, while economists are likely to lower the price below this level.
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31/12/2014
Likely in the parliamentary finance committee member, on Wednesday, re-draft budget law to the Council of Ministers to make adjustments as a result of the increasing decline in world oil prices, and among that the budget was built on the $ 60 per barrel was today dropped to $ 55, said that the Finance Committee will meet on Sunday for the next two consecutive days to discuss the decline.
Said committee member Ahmed Sarhan that "the continuing decline in oil prices below the level at which it was built the budget will affect the construction of the budget deficit and increase the proportion of it."
And Daav "The Finance Committee will meet on Sunday for two days in a row to discuss the low oil price to build the budget will be presented to the House of Representatives for a vote," noting that "if necessary, will be restored to the Cabinet for modifying them."
He pointed out that "the budget is built on the $ 60 per barrel, but today, bringing to $ 55 a barrel and rising oil prices will affect low to pass the budget."
It is said that global oil markets have recorded price of $ 55 per barrel, while economists are likely to lower the price below this level.
[You must be registered and logged in to see this link.]
