Middle East Economic Survey

VOL. LIV

No 50

12-Dec-2011

IRAQ

Iraqi Budget Expenditure In 2012 Projected To Rise By 21%

The Iraqi Council of Ministers on 5 December approved a draft budget for 2012 with total expenditure of ID117,000bn ($100.9bn), up 21% from 2011, and a deficit of ID17,000bn ($14.7bn), marginally higher than the 2011 deficit of ID15,728bn ($13.5bn) The budget is based on an oil price assumption of $85/B, up 11% from $76.50/B in 2011, and oil exports of 2.625mn b/d. The...