10 Apr 2021 / 08:59 H.
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BAGHDAD, March 31 (Reuters) - Iraq s parliament on Wednesday approved a 2021 budget of 130 trillion Iraqi dinars ($89.65 billion) as the country wrestles with an economic and financial crisis due to low crude prices.
The budget deficit is estimated at 28.7 trillion Iraqi dinars ($19.79 billion), lawmakers said.
The 2021 budget set an oil price of $45 a barrel and expected oil exports of 3.25 million barrels per day (bpd), including 250,000 bpd from the Kurdish region, according to a budget document and lawmakers.
Iraq relies on oil to fund 97% of its state budget, and its commitment to an OPEC+ deal on reducing oil output has squeezed the finances of a government struggling to tackle the fallout from years of war and rampant corruption.
By Reuters Staff
3 Min Read
BAGHDAD (Reuters) -Iraq’s parliament on Wednesday approved a 2021 budget of 130 trillion Iraqi dinars ($89.65 billion) as the country wrestles with an economic and financial crisis due to low crude prices.
The budget deficit is estimated at 28.7 trillion Iraqi dinars ($19.79 billion), lawmakers said.
The 2021 budget set an oil price of $45 a barrel and expected oil exports of 3.25 million barrels per day (bpd), including 250,000 bpd from the Kurdish region, according to a budget document and lawmakers.
Iraq relies on oil to fund 97% of its state budget, and its commitment to an OPEC+ deal on reducing oil output has squeezed the finances of a government struggling to tackle the fallout from years of war and rampant corruption.
By Reuters Staff
3 Min Read
BAGHDAD (Reuters) -Iraq’s parliament on Wednesday approved a 2021 budget of 130 trillion Iraqi dinars ($89.65 billion) as the country wrestles with an economic and financial crisis due to low crude prices.
The budget deficit is estimated at 28.7 trillion Iraqi dinars ($19.79 billion), lawmakers said.
The 2021 budget set an oil price of $45 a barrel and expected oil exports of 3.25 million barrels per day (bpd), including 250,000 bpd from the Kurdish region, according to a budget document and lawmakers.
Iraq relies on oil to fund 97% of its state budget, and its commitment to an OPEC+ deal on reducing oil output has squeezed the finances of a government struggling to tackle the fallout from years of war and rampant corruption.