Iraqi Cabinet Approves cut to Planned Budget

Iraqi PM Haidar al-’Abadi’s cabinet approved the country’s 2016 budget on 18 October. The bill called for spending of ID106 trillion ($88bn at $1=ID1,200). This is 10% less than the $97bn in spending projected by the Finance Ministry’s original draft (MEES, 9 October), and follows extensive criticism of that draft’s lack of fiscal realism from parliamentarians and commentators.
The projected deficit of...