Iraq Business News brings you the latest Iraq budget news – including the Iraq investment budget, Iraq infrastructure projects and more.
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 […]
The Electricity Ministry says it needs $8 billion [9.6 trillion Iraqi dinars] this year to pay its debts and finance current and new projects. The sum amounts to nearly 10 percent of the country’s budget, reports Azzaman. “The sum is needed to pay the ministry’s debts and finance new projects to revive the power sector,” […]
Iraq's government submitted a revised draft budget to MPs for approval on Sunday, raising projected public spending as oil prices have increased, government spokesman Ali al-Dabbagh said. The new spending programme estimates overall expenditure at $81.86 billion, or 96.6 trillion Iraqi dinars, while income will be $68.56 billion, leaving a shortfall of $13.3 billion-- about […]
The Iraqi cabinet has approved a draft 2011 budget on Tuesday that envisages a deficit of 14 trillion dinars ($11.99 billion), down from an expected deficit of $19.6 billion for this year, according to a report from Reuters. The budget, which still needs parliamentary approval, is based on an oil price of $73 a barrel, […]
The oil and finance ministries agreed to set the price of oil barrel at $73, to be endorsed in the 2011 state budget, oil ministry spokesman Assem Jihad told Aswat al-Iraq news agency at the weekend. “The agreement comes in light of an export rate of 2.3 million barrels per day (bpd), including the oil […]
Iraq's government will today start to discuss a $86.4 billion draft budget for next year, a 20% increase on 2010. The budget for 2011 is based on an oil price of $70 per barrel, Finance Minister Baqir Jabr al-Zubaidi [Zubeidi] told the newspaper As Sabah. Iraq's crude oil exports rose 9 percent in September to […]
An Iraqi official said on Thursday that some $18 billion [21 trillion Iraqi dinar] will be reduced from Iraq's proposed budget for next year. Speaking to AKnews, Fadhil Nabi, the deputy for the Iraqi finance minister said that the requested budget for 2011 amounts to over $87 billion but the income of the country falls […]
Iraq's preliminary budget proposal for the next year is $86.4 billion [101 trillion Iraqi dinars], based on a world oil price $70 a barrel, Deputy Finance Minister Fadhil Nabi has told Reuters. Iraq's Finance Minister, Baqir Jabur al-Zubaidi, will present the budget to the cabinet this week. According to Iraqi law, the annual budget must […]
