Sunday, February 20, 2011

Iraqi lawmakers approve 2011 budget

Iraq's parliament gave final approval on Sunday to an $82.6 billion budget for 2011 based on an average oil price of $76.50 per barrel and 2.2 million barrels per day in crude exports.

The deficit was projected at $13.4 billion, although Iraqi officials have said the shortfall would be eliminated if world oil prices remain at current levels. About 95 percent of Iraq's government budget comes from oil revenue.

Budget shortfalls challenge Iraq's ability to rebuild after years of conflict following the 2003 U.S.-led invasion that ousted dictator Saddam Hussein.

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7 comments:

Lynnette In Minnesota said...

Well, so far Iraq is ahead of the game, as oil prices are above their target figure.

Lynnette In Minnesota said...

Kind of an interesting discussion over at Mahmood's here. If you ignore the distraction of the health care and taxes debate, that is.

Lynnette In Minnesota said...

PH, a blogger in Libya.

Freddie Starr said...

Lynnette In Minnesota ate my hammster!

Anonymous said...

Minnesota hamster pizza party.

Bruno said...

I'm going to have a hamm sandwich, now.

analee said...

Very interesting post.Great, its an intelligent discussion.