Economist reveals to / Mawazin News / the importance of rising oil price to fill the budget deficit

From 2018-04-12 at 19:25 (Baghdad time)

Special - Mawazine News

The economic expert, Salam Samisem, on Thursday, that the high price of oil has a positive impact in creating a difference in the currency helps to strengthen the financial resources of the state, calling on the government to take advantage of the difference in bridging the budget deficit and reduce taxes on citizens.

"The rise in oil prices globally has a difference in the currency and this difference has a positive role because the government recorded $ 45 in the budget of 2018 and therefore the difference will enable the government to benefit from it to fill the existing budget deficit," said Smisem, Differences in the promotion and utilization of the State's financial resources ".

"The government predicted that the budget deficit will be $ 10 million, and therefore relied on a package of taxes to be imposed on citizens," she said, stressing "the importance of taking advantage of these price additions to oil and reduce the tax pressure on the citizen."

"Taxes on which the government depends will be divided directly and indirectly. The direct income will be between 2 and 7 percent, including all employees and employees," she said. "Indirect taxes will be imposed on sales such as cigarettes, drinks,

"All these taxes will lead to higher prices and the citizen will be burdened financially," she said. "Therefore, we hope that this increase in the price of oil will reduce the tax pressure on the citizen and the amount of taxes that will lead to higher prices."

International oil prices rose on Wednesday, boosting the gains made in the previous session as markets watched the escalation of tension in the Middle East after warned the European Organization for Air Safety (Eurocontrol) of possible air strikes in Syria.

Brent crude rose $ 71.09 a barrel, up 7 percent from its last close.

Brent climbed more than 3 percent on Tuesday to its highest level since late 2014, when it hit $ 71.34.

US benchmark WTI hit $ 65.63 a barrel, up 12 percent, ending June 29

http://www.mawazin.net/خبير-اقتصادية-تكشف-لموازين-نيوز-أهمية-ارتفاع-سعر-النفط-بسد-عجز-الموازنة