5 February 2019 - 20:34
Barham Salih signs Iraq federal budget

<p style="text-align: left;">Iraqi President Barham Salih signed the federal budget law for 2019 on Monday, February 4, according to a statement issued by his office.

Salih said that basic services must be secured for all citizens and that the process of reconstruction and rebuilding the country should commence immediately, NRT reported.

The Council of Representatives voted to approve the budget law in a late night vote on January 23.

The budget includes 133 trillion Iraqi dinars ($112 billion) worth of expenditures.

Iraq is also expected to post a 22.8 trillion dinar ($19.1 billion) deficit.

The budget was written with the expectation that Iraq will export an average 3.88 million barrels of oil per day, including 250,000 bpd from the Kurdistan Region, and sell it for $56 per barrel.

In December, the month before the budget was passed, Iraq pumped 3.73 million bpd at a price of $52.80 per barrel.

Reporter&rsquo;s code: 50101

News Code 35760

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