Iraqi parliament approves 2021 budget of $89 bln –lawmakers

Iraq's parliament on Wednesday approved the 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 is set on $1 = 1,450 Iraqi dinars)

Iraq's parliament on Wednesday approved the 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. (The budget is set on $1 = 1,450 Iraqi dinars)

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