VOL. XXXIV

NO. 32

13-MAY-1991

Financial and Banking News

Budgets & Revenues

Iraq's 1991 Budget Focuses on Reconstruction

On 8 May the Iraqi Government approved the 1991 budget, which totals ID13.9bn($44.6bn at the official exchange rate of ID1=$3.208889). According to Mr. HamidHammadi, the Minister of Information, the budget concentrates on "dealingwith the effects of the aggression, reconstruction and subsidizing the prices ofwheat and barley," and the cabinet has decided to divert around 25%...