Fadlallah Gharazeddin, the deputy head of the Planning and International Cooperation Authority, said that the support for oil derivatives in the budget for next year (2020) decreased significantly, from about 343 billion pounds in 2019 to 11 billion pounds (about 96.8%).

He pointed out that the actual figure is different from the figure provided in the budget, due to low prices and low consumption, and the presence of local production, in addition to the follow-up and scrutiny of the companies involved in hydrocarbons, which provided a figure closer to the accuracy and health of the previous to support derivatives for next year.

Speaking about the support in the 2020 budget, Gherzeddin pointed out that there are 10 billion pounds for the Agricultural Support Fund, 15 billion for the Social Aid Fund and 333 billion for the Price Stabilization Fund, which is specifically for yeast and flour for bread, which is apparent in the budget.

He pointed out that the largest subsidy figure is in the electricity sector, amounting to about 711 billion pounds as estimated in the 2020 budget, while it amounted to 720 billion pounds in the budget of this year (2019), and added «if we add all these figures we will reach about 1.5 trillion pounds, It is a subsidy in the budget estimated at 4 thousand billion pounds », which means that the proportion of support directly in the budget items, and is not visible, exceeds 37% of the budget amount, which, according to the debt," an important figure, and is not insignificant for a country that suffered more than 8 Years of war ».

 

Source: Al Watan Newspaper