Just wanted to reiterate once again that the budget is based on a the prices of a barrel of oil and not the rate of the dinar BY MNT GOAT, 30 OCT

 WHAT IS THE TOTAL SPENDING AND PRICE OF A BARREL OF OIL IN THE 2025 BUDGET?

The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, specified the expected total spending, the hypothetical deficit, and the price of a barrel in the 2025 budget.

Saleh said, “Next year’s budget 2025 will not deviate from the constants approved in the Federal General Budget Law (the three-year budget) submitted by the government and approved by the House of Representatives for the years 2023-2024-2025, especially in the principles and objectives consistent with the government program.”

He added, “Despite this, the 2025 budget must be hedged with a hypothetical deficit of 64 trillion dinars, which is a (precautionary) deficit that has been established by law; to avoid fluctuations in the general budget revenues for the coming year, especially oil revenues that are subject to fluctuations in the oil asset cycle and the conditions of energy markets in the world, as long as the total spending ceiling will touch perhaps 200 trillion dinars, depending on the financial and economic circumstances of the country.”

He explained that “the price of a barrel of oil in the three-year budget, to which the 2025 budget is subject, was set at $70 and an export capacity of 3.4 million barrels per day for the purposes of determining oil revenues in the general budget.”

(Just wanted to reiterate once again that the budget is based on a the prices of a barrel of oil and not the rate of the dinar. So, don’t let these stupid intel gurus tell you otherwise. They never held up announcing a budget because of the RV. It’s all just a pack of lies and here is yet more proof!)