Middle East Economic Survey

VOL. XLVIII

No 50

12-December-2005

IRAQ

Iraq Sets 2006 Budget Expenditure At $40Bn

Iraqs budget expenditure for 2006 has been set at NID59,000bn ($40bn), of which 90% is generated from oil revenue, the Iraqi Minister of Finance 'Ali 'Allawi has announced, according to a report in al-Hayat of 5 December. The 2006 budget will maintain subsidies on essential goods under the ration card system for which NID3,800bn ($2.6bn) was allocated, down from NID6,000bn ($4.08bn) in...