Recent price increase in fuel products generates 130 MD to state (Minister in charge of Major Reforms) | Tunisia News Gazette

Recent price increase in fuel products generates 130 MD to state (Minister in charge of Major Reforms)

The 50-millime increase in the prices of fuel products, which came into effect on April 1, 2018, will generate resources of the order of 130 million dinars to the state, Minister in charge of Major Reforms Taoufik Rajhi said on Tuesday.

He noted that hydrocarbon subsidy for 2018 will cost the state 4 billion dinars, against 1.5 billion dinars (petroleum products and electricity), provided for under the state budget for 2018, because of the rise in the price of oil barrel ($ 70) and the non-application of the automatic price adjustment mechanism.

During the drafting of the Finance Act for 2018 in September 2017, our assumptions were based on the estimates of international institutions that expected a price of $ 54 a barrel, he specified.

To cover this shortfall, the state has only two solutions, either to raise tax resources or to go into debt, he said.

He added that if the price of a barrel drops again to 54 dollars, the State should decrease the selling price of petroleum products.

He reminded, in this regard, that the reform of the hydrocarbon subsidy proposes automatic price adjustments each quarter.

Source: TAP News Agency

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