NO. 15


Financial and Banking News

Budgets & Revenues

The Revenue Assumptions Behind the Budget

MEES understands that the guidelines underlying the 1994 budget include oilproduction of 8mn b/d during the first half of the year and contingency planningfor the possibility that a return of Iraqi exports at around their pre-war levelcould necessitate a cut of up to 1mn b/d in the second half. Other guidelinesinclude a price for Arabian Light of $15/B in the first half and...