MAINTAINING THE EXCHANGE RATE… PARLIAMENTARY FINANCE DETERMINES THE VARIABLES OF THE 2024 BUDGET
Today, Wednesday, the Parliamentary Finance Committee confirmed that the exchange rates of the dollar and a barrel of oil will be maintained in the budget for the current year 2024.
Committee member, MP Hussein Moanis, said in a statement to Al-Maalouma, “The government kept calculating the price of a barrel of oil, the quantity of oil exported, and the dollar exchange rate stipulated in the tripartite budget in the current year’s 2024 Without budget change.”
He added, “The Parliamentary Finance Committee has not yet received the changes that will occur to some tables in the current year’s budget in order to study them and then submit them to a vote in the House of Representatives.”
Muanis pointed out that “the changes that will occur in the current year’s budget will be made in the schedules without any change in their items,” noting that “the change in the schedules relates to added imports as well as spending.”
The House of Representatives approved, on Monday, June 12, 2023, after long deliberations between the government and parliament members that extended for months, the financial budget law for the three years 2023, 2024, and 2025, as the budget approved more expenditures and Investments as a direct result of the increase in oil revenues, which constitute 90% of the country’s revenues.
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