Iraq Business News brings you the latest Iraq budget news – including the Iraq investment budget, Iraq infrastructure projects and more.
By John Lee. A member of the Shiite-dominated National alliance coalition told a press conference at the weekend that Iraq is losing almost $27 million per day because delays in agreeing the budget. Haider Abadi, Chairman of the parliamentary Finance Committee, is reported as insisting that the budget is issued as soon as possible. Iraq’s […]
By John Lee. The Speaker of the Iraqi Parliament, Osama Al-Nujeifi [Usama al-Nujaifi] (pictured), said on Thursday that negotiations with leaders of the political blocs on the state budget for 2013 have entered a "blind alley", according to KUNA news agency. He blamed the deadlock on disputes among the parliamentary blocs on allocations for the […]
FEDRERAL BUDGET 2013 - DETAILS AND CHALLENGES The Iraqi Institute for Economic Reform (IIER) has the pleasure of inviting you to attend the above seminar to discuss the details of the Federal Budget and the challenges facing its implementation. In attendance there will be Members of Parliament, government officials, Iraqi economic experts, academics as well […]
By John Lee. The United Nations' Joint Analysis Policy Unit (JAPU) has issued a background paper on Iraq's budget for 2013. The Government expenditure for 2013 totals IQD 138.4 Trillion ($ 118.3 Billion), with an increase of 18% over 2012 and exceeding 70% of GDP. The budget has three main headings: Energy, Security / Defense […]
By Seerwan Jafar. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq’s 2013 budget amounts to US$118 billion. But the figures don’t add up. Doing the sums results in one conclusion: unless something is done differently, Iraq […]
By John Lee. A member of the Parliamentary Economy and Investment Committee has told AIN news agency that the 2013 federal budget will include low-interest loans for the industrialists. MP Abdul Hussein Abtan said: "The industrial sector needs such projects because it needs money and support after the embargo imposed on the country during the […]
The Iraqi Council of Ministers has approved a draft budget of 138 trillion dinars ($115 billion) for 2013, an 18 percent increase on this year’s spending programme. The figures are based on expected average oil prices of $90 per barrel, and exports of 2.9 million barrels of oil per day, of which 250 thousand bpd […]
By Padraig O'Hannelly. Iraq's Planning Minister, Ali al-Shukri (pictured), has said the country has earmarked between $250 billion and $275 billion for infrastructural development projects over the next five years. At the Iraq Finance 2012 conference in London the minister called for foreign companies to invest in all sectors of the Iraqi economy, including construction, […]
By John Lee. The Iraqi government has agreed to allocate additional funds from the supplementary budget to boost its air defences. Mr. Ali Mohsen Al-Allaq, the Secretary General to the Council of Ministers, said the country's sovereignty requires that its airspace should not be violated, a fear that was expressed by Acting Minister of Defense Mr. […]
Iraq's cabinet has approved a supplementary budget for 2012 of 10.875 trillion Iraqi dinar ($9.35 billion), in addition to the $100.5 billion package agreed by parliament in February which was based on an average world oil price of $85 a barrel and crude oil exports of 2.6 million bpd. According to Reuters, budgetary matters usually […]
AKnews reports that Kurdistan's Minister of Finance and Economy says he cannot afford to increase the housing grant. Bayiz Talabani [Bayiz Saeed Mohammad Talabani] (pictured) attended a budget meeting on Thursday to answer reports of parliamentary committees. Talabani said: "Now 18,000 staff and civil servants get paid from the Kurdistan Regional Government." It was suggested […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
