Middle East Economic Survey

VOL. L

No 1-2

1/8-Jan-2007

IRAQ

Iraqi Budget For 2007 Based On $50/B Oil Price

The Iraqi budget for 2007 will be based on an oil price assumption of $50/B, with crude oil production at 1.7mn b/d and an exchange rate of $1=NID1,260, Iraqi Minister of Finance Bayan Jabr al-Zubaidi has recently announced. Total expenditure in 2007 is unchanged from 2006 at around $41bn, according to the minister, who said there had been some reshuffling in allocations in 2007, making the...