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Iraq's preliminary budget proposal for next year is about 113 billion U.S. dollars, with an operating budget of 69 percent, an Iraqi official newspaper said on Monday.
"The proposed budget for 2013 is based on an average oil price of 85 dollars per barrel with export of 2.6 million barrels of crude oil per day (bpd)," the state-run al-Sabah newspaper quoted the minister of planning Ali Youssef Al-Shukri as saying.
The budget also referred to the share of Iraq's northern region of Kurdistan which valued 17 percent of the budget after deducting some public expenditure, including Kurdistan's share of money paid by Baghdad for providing subsidized food staples for the people in the region, the paper said.
According to the Iraqi law, the draft budget will need to be discussed and approved by the Iraqi cabinet and the parliament before being finally approved by the presidency.
If proved, the budget will be the biggest in Iraq since the establishment of first government of modern Iraq in 1921.
The Iraqi budget of 2012 valued 100 billion dollars based on the average oil price of 85 dollars per barrel and 2.6 million bpd in crude exports, similar to the expected price and amounts of crude exports in 2013.
The country depends on oil revenues for nearly 95 percent of its budget.
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"The proposed budget for 2013 is based on an average oil price of 85 dollars per barrel with export of 2.6 million barrels of crude oil per day (bpd)," the state-run al-Sabah newspaper quoted the minister of planning Ali Youssef Al-Shukri as saying.
The budget also referred to the share of Iraq's northern region of Kurdistan which valued 17 percent of the budget after deducting some public expenditure, including Kurdistan's share of money paid by Baghdad for providing subsidized food staples for the people in the region, the paper said.
According to the Iraqi law, the draft budget will need to be discussed and approved by the Iraqi cabinet and the parliament before being finally approved by the presidency.
If proved, the budget will be the biggest in Iraq since the establishment of first government of modern Iraq in 1921.
The Iraqi budget of 2012 valued 100 billion dollars based on the average oil price of 85 dollars per barrel and 2.6 million bpd in crude exports, similar to the expected price and amounts of crude exports in 2013.
The country depends on oil revenues for nearly 95 percent of its budget.
[You must be registered and logged in to see this link.]
