Iraq Business News brings you the latest Iraq budget news – including the Iraq investment budget, Iraq infrastructure projects and more.
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. The first draft of Iraq’s federal budget for 2018, approved by the government at the start of the month, envisions slashing the Kurdish region’s share from 17% to 12.7% […]
Prime Minister Nechirvan Barzani chaired a Council of Ministers meeting to discuss the federal Budget Bill of 2018, which was prepared by the federal Ministry of Finance without the participation of the Kurdistan Regional Government. In the meeting, which was also attended by Deputy Prime Minister Qubad Talabani, KRG Council of Ministers called upon Iraqi […]
By John Lee. Prime Minister Dr. Haider Al-Abadi has chaired a meeting to review the draft general budget for 2018. At the meeting, which was attended by a number of senior officials from the Ministry of Finance, he stressed the importance of reducing operating expenses to ensure that salaries, pensions and social protection benefits can […]
Iraq has signed for receiving a Japanese loan worth USD270 million according to a statement from the Japanese Embassy in Iraq. The loan is designed to improve Iraq’s financial situation and to help the country proceed with reforms, the statement by the embassy said, noting that it comes as a second tranche of a USD500 […]
The Executive Board of the International Monetary Fund (IMF) has completed the second review of Iraq’s three-year Stand-By Arrangement (SBA), which is designed to support Iraq’s economic reform program and restore fiscal balance over the medium term. The completion of the second review allows the authorities to draw the equivalent of SDR 584.2 million (about […]
By John Lee. The Financial Times reports that Iraq has appointed Citi, Deutsche Bank and JP Morgan as joint bookrunners for a new five-year government bond. The issue is described as a dollar-denominated, long-dated, benchmark-scale bond; investor meetings scheduled over the coming days. In January, Iraq raised $1 billion of five-year bonds, guaranteed by the US, […]
By Ahmed Tabaqchali (pictured), CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. While Iraq’s war against terror is far from over, the conclusion of the Mosul offensive should mark the high point in the cost of […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Mid-year Assessment of Oil Export Revenues and Budgetary Implications Iraqi data on oil exports and generated revenues for the first half of 2017 provide the material evidence to assess the impacts of […]
By John Lee. A new report from the International Monetary Fund (IMF) predicts more government spending in the current year. In its Regional Economic Outlook for the Middle East, the IMF says: "In Iraq, the fiscal stance is expected to loosen somewhat as the receipt of previously delayed donor financing relaxes the cash constraint faced […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Oil Export, OPEC Cut Effects and Budget Implications Monthly data during the first half of this year are important for Iraq for two main reasons: they reveals the test of OPEC-cuts and […]
Iraq has successfully closed on its offering of a $1 billion sovereign bond issuance guaranteed by the United States of America. This loan guarantee underscores the strong and enduring commitment of the United States to support the government of Iraq in this critical moment in the fight against Da’esh. As part of a comprehensive international […]
By John Lee. Reuters reports that Japan has agreed to lend Iraq up to 27.2 billion yen ($240 million) to rebuild damaged electricity infrastructure, especially in areas recaptured from the Islamic State group (IS, ISIS, ISIL, Daesh). It also intends to approve another loan worth 21.5 billion yen to repair a thermal power station in […]
