Iraq Expects 10% Growth Next Year

An adviser to the Iraqi Central Bank said on Wednesday that the 2011 budget will result in economic growth of 10%.

Muzher Mohammed told AKnews that the 2011 budget in its present state is one of the best Iraqi budgets since 2003 as it will increase the country’s economic output by 10%, and it will also address part of the economic difference between Iraq and the rest of the world.

The Iraqi Ministers Council said in a statement last Wednesday that it had approved on 2011 draft budget with a deficit of $12 billion that will be covered by the amounts retained from the previous year’s budget and internal and external loans, and it showed that the expected income is estimated by $66.7 billion, with expenditures of $78.7 billion — a deficit of $ 12 billion.

(Source: AKnews)

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