Iraqi Cabinet Approves 93 Trillion-Dinar Spending Plan for 2011
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Iraq’s cabinet approved a 93 trillion-dinar ($79.5 billion) federal draft budget for 2011, an increase of about 9 percent on the previous year’s spending plan, the government’s official spokesman said.
The budget is based on an oil price of $73 a barrel and average crude output of 2.25 million barrels a day, according to the statement. It forecasts government revenue at 78.7 trillion dinars, leaving a deficit of 14.3 trillion dinars that will be covered by borrowing, sales of assets and other income, Ali al-Dabbagh said in an e-mailed statement today.