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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 Cut Civil Service by a Third

By on 7th December 2011 in Employment

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)

Govt to Review Budget due to Oil Prices

By on 10th October 2011 in Politics

Iraq's budget will be reviewed due to changes in oil prices, according to Aswat al-Iraq. MP Haitham al-Jubori said the differences center around the expected price of 85 dollars per barrel, pointing out that the government wanted to set the price at 80 dollars per barrel. This review necessitates sending the budget estimates to the […]

Basra's $1.3 billion Development Plan

By on 26th September 2011 in Iraq Industry & Trade News

The Chairman of the Development Committee of Basra Council announced on Friday that he had completed a 1.58 trillion Iraqi dinar [$1.3 billion] plan for the province. Mustapha Attiya told Aswat al-Iraq that the figure “covers the allocations granted for Basra Province, including the Region’s development budget, as well as the revenues of the petrodollar […]

How to Spend an Extra $29 Billion

By on 21st September 2011 in Blog, Iraq Banking & Finance News

Last week we asked readers to submit their three main suggestions to improve Iraq, and thanks to all who contributed so far. It's noticeable that none of the suggestions included adding an additional layer of administration, which if recent reports are to be believed is a favourite solution of some of Iraq's politicians. The good […]

Iraqi Govt to Boost Spending by 36%

By on 20th September 2011 in Iraq Banking & Finance News

Iraq's cabinet plans a substantial boost in public spending next year in a draft budget proposed on Sunday, government spokesman Ali al-Dabbagh said in a statement. AFP reports that the $111-billion spending programme for 2012 is a 36 percent increase on the same figure for this year, with 15 percent of next year's budget allocated […]

Kurdistan President Approves 2011 Budget

By on 28th June 2011 in Construction & Engineering In Iraq

The president of north Iraq’s Kurdistan Region, Massoud Barzani (pictured), has approved the Region’s 2011 Budget, estimated at 13.9 trillion Iraqi dinars ($11.6 billion), the Region’s media director,Simko Anwar, told Aswat al-Iraq news agency. “The President of Kurdistan Region, Massoud Barzani, has approved the Region’s budget for the year 2011, last Thursday, after long discussions […]

Iraq Oil Revenues 34% Ahead of Budget

By on 7th June 2011 in Iraq Oil & Gas News

Iraq’s oil production has risen to 2.63 million barrels a day, up by 15 percent from the same period last year, according to Bloomberg. Crude exports averaged 2.18 million barrels a day in the first five months of 2011 and are expected to increase in the second half of the year, Hussain al-Shahristani, deputy prime […]

KRG Cabinet Discusses Allocation of New Budget

By on 3rd June 2011 in Politics

Following the Kurdistan Parliament’s approval of the regional budget for 2011, Prime Minister Salih's cabinet met on Tuesday 31 May to discuss distributing the budget efficiently and quickly in order to best serve the people of the Kurdistan Region. The meeting was co-chaired by Prime Minister Salih and Acting Deputy Prime Minister, Karim Sinjari. The […]