Arab Today, arab today iraq cabinet approves 100bn budget
Last Updated : GMT 19:50:31
Arab Today, arab today
Arab Today, arab today

Iraq Cabinet approves $100bn budget

Arab Today, arab today

Arab Today, arab today Iraq Cabinet approves $100bn budget

Baghdad - Arabstoday

Iraq\'s Cabinet approved a draft 2012 budget of 117 trillion Iraqi dinars ($100 billion) with a deficit of 17 trillion dinars ($14.5 billion), Iraq\'s cabinet secretary said on Monday.The 2012 budget, which still needs parliamentary approval, is based on an oil price of $85 a barrel and oil exports of 2.625 million barrels a day next year, Cabinet Secretary Ali Al-Alaq, a top aide to Prime Minister Nuri Al-Maliki, told Reuters. The new budget forecasts total government expenditure at $68 billion, including $31.6 billion set for investment spending in 2012, Al-Alaq said in an interview. \"The cabinet approved the budget today ... It will be sent to parliament in the next two or three days.\"  The projected oil exports include 175,000 bpd from the semi-autonomous region of Kurdistan, he said. The OPEC member, which is trying to rebuild its battered economy after years of war and sanctions, depends mainly on oil revenue which funds about 95 percent of its budget.Baghdad has signed a series of deals with international oil companies in a bid to boost its oil production capacity to 12 million barrels per day by 2017 from 2.95 million bpd. That could vault Iraq into the top echelon of producers. But many analysts have been skeptical that Iraq would reach its ambitious target due to infrastructure constraints. Iraqi Oil Minister Abdul-Kareem Luaibi said in September a production capacity target of 8-8.5 million bpd was \"more suitable\". Al-Alaq said the 2012 deficit of $14.5 billion will be mainly covered by the surplus of the Development Fund of Iraq (DFI) account at the New York Federal Reserve. The DFI was established after the 2003 US-led invasion of Iraq in order to direct oil revenue to reconstruction and food programs for the Iraqis. Iraq holds the bulk of proceeds from its oil export sales in the DFI \"We have a surplus in the DFI, it will cover the main part of this deficit ... We have agreed with the IMF to use around $10 billion from the fund,\" Al-Alaq said. Iraq\'s 2011 budget was $82.6 billion, based on an average oil price of $76.50 per barrel and 2.2 million bpd in crude exports. In November, Iraq oil exports were 2.135 million bpd.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iraq cabinet approves 100bn budget Arab Today, arab today iraq cabinet approves 100bn budget

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iraq cabinet approves 100bn budget Arab Today, arab today iraq cabinet approves 100bn budget

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday