Iraq “Losing $27m/day” Due to Budget Delay

By John Lee.

A member of the Shiite-dominated National alliance coalition told a press conference at the weekend that Iraq is losing almost $27 million per day because delays in agreeing the budget.

Haider Abadi, Chairman of the parliamentary Finance Committee, is reported as insisting that the budget is issued as soon as possible.

Iraq’s budget deficit is expected to fall from the $12 billion that was planned for 2012 to $4 billion at end-2014, as the country benefits from increased oil proceeds.

(Source: al Arabiya)

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