Middle East Economic Survey


No 18



Increase In Iraqi Budget Deficit In 2009 May Not Materialize

Last months warning by the Iraqi Minister of Finance Bayan Jabr that the budget deficit in 2009 could soar to $25bn from the projected figure of ID18,757bn ($15.9bn) was perceived as an exaggeration by economists familiar with the Iraqi economic scene. In an interview with Reuters in 'Amman, Mr Jabr attributed his gloomy outlook to the fall in oil exports in the first quarter of...