Iraq Business News brings you the latest Iraq budget news – including the Iraq investment budget, Iraq infrastructure projects and more.
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 […]
Iraq needs to boost its 2012 investment budget to as much as 60 trillion dinars ($51 billion) from a planned 40 trillion dinars, to allow funds for new projects, the Planning Minister, Ali al-Shukri (pictured), told Reuters in an interview on Monday. "What is being put forth is 40 trillion Iraqi dinars (as the investment […]
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 […]
The Iraqi government has approved only $927 million [1.1 billion Iraqi dinars] in the 2011 budget to tackle the electricity shortage in the country. In February, the Ministry of Electricity had demanded $6 billion (6.99 trillion Dinars) to resolve the energy crisis. On top of that an investment of between $3 billion and $4 billion […]
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 […]
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 […]
The increase in world crude oil prices this year will add $8 billion [9.6 trillion Iraqi dinars] to the Iraqi budget, the Secretary-General of Iraq’s Council of Ministers said. Ali al-Allaq (pictured) told al-Sabah Newspaper in Baghdad on Tuesday that the increase would result in additional allocations to for the implementation of projects. He added […]
The budget of Iraq's Kurdistan Region for the current year is 13.94 trillion Iraqi dinars ($11.9 billion), Kurdistan's Premier, Barham Saleh, told a news conference in Erbil. This includes 9.687 trillion dinars for 'expenditures and commissioning', 4.15 billion for investment projects, 54 billion dinars for the Kurdistan Parliament's expenditures, 48 billion dinars for the Region's […]
A governmental legal advisor has said that the Council of Ministers agreed to an 80% reduction in the salaries of the three presidencies, according to a report from AKnews. Other reports say the proposals would cut the salaries of Prime Minister Nuri al-Maliki, President Jalal Talabani and parliament speaker Osama al-Nujaifi by 'more than 50 […]
Around $34 million is "missing" from a post-Gulf War fund that Iraq maintains to protect the money from foreign claims, its parliamentary speaker said on Monday as authorities scrambled to head off further protests on cutting politicians' pay and ramping up support for the needy. "There is missing money, we do not know where it […]
The following article was published on Sunday 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. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq […]
Iraq's parliament gave the final approval on Sunday to an $82.6 billion budget for 2011, according to Reuters. AKnews puts the Iraqi dinar amount at 96 trillion. The budget is based on an average oil price of $76.50 per barrel, and 2.2 million barrels per day in crude exports. The deficit was projected at $13.4 […]
