Middle East Economic Survey
Iraqi Parliament Approves Reduced 2009 Budget
The Iraqi parliament on 5 March approved a revised version of the countrys federal draft for 2009 with lower expenditure than was previously proposed by the government. Total expenditure is set at ID69,165bn ($58.6bn), total revenue at ID50,408bn ($42.7bn) and a resulting deficit of ID18,757bn ($15.9bn). The government has already lowered its estimates for the draft budget on two occasions...