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2020 Budget deficit

rockfl9

By rockfl9,
in LOPster tank

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rockfl9

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The last 2 budget deficits were covered by Borrowing dollars from the CBI reserves !!! Yes they did.  The CBI is sitting on $40B of GOI IOUs ... There is not enough dollars in the CBI to cover next years deficit. BUT they do not want incur any more outside debt . The interest rate would be very high if they tried.  The default risk would be high. 

Predictions for oil revenues in 2020 are not good and the estimate of $56 per barrel still depends on being able to sell as much as the have been , But that also is questionable.

It will be a make or break year.   

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