Al-Husain: Syria adopted oil price in the budget by 51 $ .. its rise is our hope in reducing Fiscal deficit

Syrian Finance Minister Mohammed al-Husain said that oil price in State General Budget is an indicator price because it may up and down ..



He added that.. when price of barrel of oil in SGB is 51 $ while in the world Market the current price is 71 $ a barrel this means a rise about 20 $ a barrel Theoretically indicated rise in the Budget revenues so that the reduction of deficit without adding or drawing new amounts to the budget because oil prices are exposed to Fluctuations .. in 2008 it was 140 $ a barrel then down by 30 $ a barrel at the end of the same year and were between 65 to 75 $ a barrel.


He clarified that any changes in adopted oil prices a barrel is reflected on the 2010 Budget’s revenues so the estimated deficit up an down 176.413 billion SP. adding that the actual deficit in 2006.2007.2008 budgets were still controlled less than 3% of GDP and not reach as a final amount of 50 billion $ during every year of the three years of Tenth Five Year Plan.


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