Iraq Business News brings you the latest Iraq budget news – including the Iraq investment budget, Iraq infrastructure projects and more.
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. […]
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. […]
After months of wrangling, the Iraqi House of Representatives has finally approved the $100.5 billion budget for 2012, according to AKnews. The budget is based on an average oil price of $85 per barrel and 2.6m barrels per day in crude oil exports, up from last year's budget of $82.6b, which was based on an […]
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AKnews reports that the Iraqi government has allocated $15 billion (17.3 trillion Iraqi dinars) for infrastructure projects in the proposed 2012 budget. At the last budget meeting on 5th December, Baghdad set the budget at $100 billion (115.8 trillion IQD) with a deficit of $13.5 million. Abdul-Hussein Abtan, a member of the House of Representatives […]
The parliamentary Finance Committee said on Sunday that it is considering adding 42,000 jobs to the 58,000 allocated in the 2012 budget, according to AKnews. On Jan. 5 the Iraqi government approved the 2012 budget of $100 billion USD (117 trillion IQD) with a deficit of up to $13.5 billion USD (20.5 trillion IQD), based […]
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. […]
Iraq’s Cabinet has approved a federal spending plan of almost $100 billion for 2012. The budget is based on an oil price of $85 a barrel and is smaller than the $112 billion spending plan discussed by the Cabinet in September, which was based on an oil price of $90 a barrel. The deficit will […]
Iraq is planning to reduce civil service employment by one third, according to a report from AKnews. Head of the Financial Committee at the House of Representatives, Haidar Edadi told the agency that 125,000 jobs will be reduced to 85,000 "due to budget deficiency for the investment projects." (Source: AKnews)
Azzaman news agency reports that the Iraqi Central Bank’s budget forecast for 2012 is based on and oil price of $80 per barrel. Muatasem Akram, a consultant with the bank, said the forecast was reasonable, though much below the 2012 forecasts for oil prices on international markets. He acknowledged the bank’s budgetary estimates for oil […]
