Tuesday, November 30, 2010

Budget Passed ~ The Iraqi government recognizes the budget of 2011 at 79.6 billion dollars deficit of 11.99 billion


30/11/2010 12:00 p.m.

The Iraqi government recognizes the budget of 2011 at 79.6 billion dollars deficit of 11.99 billion

BAGHDAD, Vice Minister of Finance of Iraq Iraq's government has approved on Tuesday a proposed budget for 2011 size of 92.98 trillion dinars (79.6 billion dollars) assumes an oil price of 73 dollars per barrel.

Fadel said Abdul Nabi, told Reuters after the weekly cabinet meeting that the budget anticipates a deficit of $ 14 trillion dinars (11.99 billion dollars) and to inform the oil exports 2.25 million barrels per day next year. ومن المتوقع أن يبلغ الانفاق 64 تريليون دينار (54.79 مليار دولار). Is expected to be spending 64 trillion dinars (54.79 billion U.S. dollars).

Iraq relies on the OPEC member's oil revenues to finance about 95 percent of its budget which still needs parliamentary approval.

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