Iraq’s parliament approves $88.2 bn budget for 2016

Baghdad (AFP) - Iraq's parliament adopted Wednesday a 2016 budget of $88.2 billion, based on projected oil prices of $45 per barrel, according to a copy received by AFP. The budget includes oil production the federal government does not now control and envisions a rise in oil prices, meaning revenue may fall short of projections. Parliament speaker Salim al-Juburi announced t

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CORRECTED-Iraq budget deficit seen at 11.9 pct of GDP in 2016 – minister

Oct 21 (Reuters) - Iraq's fiscal deficit is expected to hit 11.9 percent of economic activity in 2016, the finance minister said on Wednesday, as the country struggles to fund fighting against Islamic State in the face of dropping crude prices. The government's budget proposal, which awaits parliamentary approval, envisions expenditures of 106.9 trillion dinars ($95 billion) w

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Nearly 20 percent of Iraq workforce employed by govt: PM

BAGHDAD: Nearly one in five members of the Iraqi workforce are government employees, Prime Minister Haider al-Abadi said Thursday, as he attempts to reform the country's bloated and often-corrupt civil service. "We have a state with more than four million employees," Abadi said in televised remarks from a conference on implementing economic reforms in Iraq. "Neighboring c

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