Tag Archives | Iraq Budget News

Iraq Business News brings you the latest Iraq budget news – including the Iraq investment budget, Iraq infrastructure projects and more.

Iraq to Loosen Purse Strings?

By John Lee. A new report from the International Monetary Fund (IMF) predicts more government spending in the current year. In its Regional Economic Outlook for the Middle East, the IMF says: “In Iraq, the fiscal stance is expected to loosen somewhat as the receipt of previously delayed donor financing relaxes the cash constraint faced […]

Japan agrees $240m Loan to Iraqi Electricity Sector

By John Lee. Reuters reports that Japan has agreed to lend Iraq up to 27.2 billion yen ($240 million) to rebuild damaged electricity infrastructure, especially in areas recaptured from the Islamic State group (IS, ISIS, ISIL, Daesh). It also intends to approve another loan worth 21.5 billion yen to repair a thermal power station in […]

Iraq to Receive $1bn Loan from US

By John Lee. The Iraqi government has signed a one-billion-dollar loan with the United States to “[assist] Iraq to achieve victory in its battle against IS, and to realize economic reform”. Stephanie William, the U.S. Embassy’s Chargé d’Affaires and Fadhil Nabi, the Iraqi Deputy Minister of Finance signed the agreement in Baghdad on Thursday. The […]

Federal Budget Widens Political Conflict among Kurdish Forces

By Ibrahim Malazada for Al Monitor. Any opinions here are those of the author, and do not necessarily reflect the views of Iraq Business News.  On Dec. 14, the Kurdistan Regional Government (KRG) rejected the federal budget for 2017. The government’s statement read, “The budget does not serve the KRG,” and stressed its refusal to […]

World Bank Supports Iraq with $1.5bn Package

New US$1.485 Billion Package to Support Iraq’s Drive to Counter Cost of War, Low Oil Prices The World Bank Group has endorsed a new US$1.485 billion package to support reforms to improve public service delivery and transparency, stimulate private sector growth and support job creation. Iraq continues to face a large humanitarian crisis with 10 […]

Budget Law 2017 and OPEC Production Cut Impact

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Budget Law 2017 and OPEC Production Cut Impact – Preliminary Remarks On 7 December, the Iraqi Parliament passed Budget Law 2017 by a majority voting with 186 attendances, before the House went […]

IMF Releases Another $618m Loan to Iraq

IMF disburses about US$617.8 million following completion of first review of Iraq’s reform program The IMF-supported program includes measures to protect the poor, enhance financial sector stability, and curb corruption Significantly improving public financial management will be important The Executive Board of the International Monetary Fund (IMF) has completed the first review of Iraq’s three-year […]

Iraq Wrangling with $26.6bn Budget Deficit

By Sami-Joe Abboud for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq’s parliament will meet Dec. 1 to continue hashing out a draft of the 2017 general budget, which currently includes a deficit that will require the country to seek […]

Iraqi Foreign Reserves Fall to $50bn

By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali al-Alak, has reportedly said that Iraq’s foreign reserves have dropped to $50 billion. According to a report from Reuters, this is down from $59 billion at the end of October 2015. Prime Minister Haider al-Abadi has announced plans to narrow the public […]