Iraq Approves $100 Billion Budget for 2012

[darleneR]

Iraq Approves $100bn Budget for 2012

Posted on 07 December 2011. Tags: Budget

Iraq’s Cabinet has approved

a federal spending plan of almost.........$100 billion for 2012.

The budget is based on an oil price of $85 a barrel

and is smaller than the $112 billion spending plan

discussed by the Cabinet in September,

which was based on an oil price of $90 a barrel.

The deficit will be about 16 trillion dinars ($14 billion).

Revenue projections are based on exports

of 2.6 million barrels of oil a day,

including 175,000 barrels.......from the northern Kurdish region.

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.

Iraq also has $4.5 billion in International Monetary Fund loans

available should it need additional funds,

government spokesman Ali al-Dabbagh (pictured) said.

(Sources: Bloomberg, Reuters)

http://www.iraq-busi...udget-for-2012/

Iraq Approves $100bn Budget for 2012 | Iraq Business News www.iraq-businessnews.comIraq’s Cabinet has approved a federal spending plan of almost $100 billion for 2012. The budget is based on an oil price of $85 a barrel and is smaller