Iraqi Budget Approved
Feb 06, 2011
This "approval" by "the Council of Ministers" is probably not the full government's approval. Others are saying that there are still ammendments and that the third reading has yet to take place. Parliament took another day off today and will meet again Monday, when they are supposed to do the final work on the budget.
Understanding the news reports can be difficult when terms are not explained. But here is the news report:
BAGHDAD / Aswat al-Iraq: Spokesman of the Iraqi government said on Sunday that the government approved the 2011 federal budget with 96.6 trillion Iraqi dinars.
“The Council of Ministers approved the federal budget of 2011 during an extraordinary session at 96.6 trillion dinars,” Ali al-Dabbagh said in a statement received by Aswat al-Iraq news agency.
“The operational budget is 66.6 trillion dinars, while the investment budget is 30 trillion dinars,” he added.
“The outcome is 80.9 trillion dinars after exporting 2.2 million barrels at a price of 76.5 dollar per barrel, including 100,000 barrels export from Kurdistan,” he explained, pointing out that the deficit reached 15.7 trillion dinars.
“The finance minister has been authorized to borrow 4.5 billion dollars from, the international Monetary Fund, in addition to 2 billion dollars from the World Bank,” he said.
Dr. Stephen Jones