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118 billion budget explosive for 2013
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Author: the future of Iraq
25/09/2012 12:00 am
BAGHDAD / future Iraqi
agent said the Ministry of Finance Fadel prophet, that the government had received a draft budget worth 118 billion dollars for the year 2013 at the rate of 90 dollars per barrel of oil and expects a deficit of $ 15.5 billion. He added that the budget includes investment projects worth $ 45.5 billion expects to reach oil exports 2.9 million barrels per day, including 175 thousand barrels per day from the Kurdistan region. Said Prophet «each year increase the budget for the year before», and attributed the increase to higher spending on projects government and provide employment opportunities. seeks OPEC member Iraq to boost oil production doubled during the three years after decades of neglect of infrastructure because of war and economic sanctions. Iraq has the fourth largest oil reserves in the world and produces 2.5 million barrels per day on average. And contribute to oil by about 95 percent of budget revenues in Iraq. Said prophet that budget monitors $ 644 million for companies operating in the Kurdistan region, sources had indicated last week that Royal Dutch Shell to explore opportunities in Iraqi Kurdistan after ventured Mnavstaha Exxon Mobil and Total angering Baghdad and entered the northern region In a time when developments major fields in the south of the country.
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