The House’s Budget Committee is mulling whether to raise the effective overdraft limit to 6% of expenditures from 3-5% in the current draft of the budget to curb effects of the rising global oil prices, according to Budget Committee Deputy Chair Yasser Omar. The price of oil has moved closer towards the USD80/bbl mark. Next fiscal year’s budget assumes an oil price of USD67/bbl and identifies rising prices as amongst the top risk to the government not meeting its budget targets. The Budget Committee is debating whether to set aside more funds in case the government overshoots its FY18-19 budget deficit target.