Oil Revenues below Budget

By John Lee.

Prime Minister Haider al-Abadi said in televised remarks on Saturday that Iraq’s oil revenues are even lower than projected in the country’s already austere 2015 budget.

According to a report from AFP, al-Abadi declined to providing exact figures on the shortfall.

Iraq’s parliament approved a budget of 119.5 trillion Iraqi dinars in January (about $99.6 billion at the time), based on a crude oil price of $56 a barrel.

(Source: AFP)

(Oil image via Shutterstock)

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