Iraqi Cabinet Approves 2013 Draft Budget
The Iraqi cabinet on 23 October approved the 2013 draft budget with total expenditure of ID138,000bn ($118.5bn), up 17.8% from ID117,123bn ($100.5bn) in 2012 and total revenue of ID119,200bn ($102.3bn), up 16.5% from ID102,327bn ($87.8bn). Total expenditure includes an allocation of ID55,000bn ($47.2bn) for investment projects. The resulting deficit is projected at ID18,800bn ($16.1bn), an increase of 27.1% from 2012. The draft...
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