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 passes $89bn Federal Budget Bill

By Joe Snell for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq passes $89 billion federal budget bill The budget confronted issues of unemployment, currency devaluation and non-oil revenues and was passed as lawmakers prepare for October's general election; the […]

Protesters Block Entrances to Oil Facilities

By John Lee. Protesters have reportedly blocked the entrances to the Dhi Qar Oil Company (DQOC), Dhi Qar Refinery, and the Oil Products Distribution Company. According to Anadolu Agency, they were protesting the passing of the 2021 budget by the Iraqi parliament, which did not meet their expectations regarding guaranteed employment. More here. (Source: Anadolu […]

Iraq's Reform Budget heads to Parliament

By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's reform budget heads to parliament Parliament is debating the 2021 budget, which is the first budget drafted based on the White Paper for economic reform. Click here to […]

Iraq "in Talks" with IMF for $6bn Loan

By John Lee. Iraq is reportedly in discussions with the International Monetary Fund (IMF) to secure a $6 billion loan to help its finances. Finance Minister Ali Allawi (pictured) told Bloomberg that Iraq can apply for $2 billion in quick financing from a special mechanism to help Covid-battered economies, followed by an additional $4 million.. […]

Iraq's Static Budget Process

By Ahmed Tabaqchali, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's Static Budget Process The Iraqi government plans to respond to the financial crises in the wake of the COVID-19 pandemic by addressing the root causes of Iraq's vulnerability […]

Iraq's Cabinet approves Draft Budget

By John Lee. The Iraqi cabinet has approved the draft budget for 2021. According to Reuters, the budget of 150 trillion Iraqi dinars ($103 billion) is based on an oil price of $42 per barrel, and will result in a deficit of 63 trillion dinars ($43 billion). Rudaw puts the deficit at 58 trillion dinar […]

Iraq Increases Deficit to Pay Salaries

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq increases deficit to pay salaries The Iraqi parliament approved on November 12th the funding deficit law, entitling the government to borrow 12 trillion dinars ($10 billion) from internal […]

KRG Opposes new Federal Budget Bill

By John Lee. The Kurdistan Regional Government (KRG) has expressed concerns and signaled its opposition to legislation put forward by the Iraqi parliament on Thursday that it says would once more cut the Kurdistan Region's share of the federal budget. The Council of Ministers issued the following statement: "The Kurdistan Regional Government commends the Kurdistan […]

Iraq's Dire Fiscal Crisis

By Kirk H. Sowell, for the Carnegie Endowment for International Peace. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's Dire Fiscal Crisis Iraq's Prime Minister inherited a series of fiscal crises. As his interim government struggles to advert a complete economic collapse, […]