Middle East Economic Survey

VOL. LIII

No 50

13-Dec-2010

IRAQ

Iraqi 2011 Draft Budget Projects Steep Decline In Deficit To $12Bn

The Iraqi cabinet has approved a draft budget for 2011 with total revenue at ID78,705bn ($67.3bn), total expenditure at ID92,980bn ($79.5bn) and a resulting deficit of ID14,275bn ($12.2bn), government spokesman 'Ali Dabbagh announced on 30 November. Mr Dabbagh said that the budget, which awaits parliaments approval, will be based on an oil price assumption of $73/B...