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Budget adopted on an oil price of ninety dollars a barrel (Reuters)
Iraq's Council of Ministers approved a draft budget for 2013 worth 138 trillion Iraqi dinars (118.6 billion dollars).
Ali al-Moussawi said media adviser to Iraqi Prime Minister Nuri al-Maliki, said the draft will be forwarded to the Parliament for final approval.
Meanwhile, government spokesman Ali al-Dabbagh said the draft budget adopted on an oil price of $ 90 per barrel, adding that Iraq expects to export 2.9 million barrels per day in 2013.
Iraq has the fourth largest oil reserves in the world, and contribute to oil revenues by 95% in the financing of its national budget.
Iraq exported about 2.6 million barrels per day on average last month, the highest total crude exports in decades.
Iraq seeks to increase shipments to more than 2.8 million barrels a day this month, and to increase its production to double within three years after decades of neglect of infrastructure as a result of war and economic sanctions.
Settlement with Kuwait
On the other hand, the Iraqi government said the Kuwaiti government gave final approval to a settlement with Baghdad to end a dispute over the Gulf War era debt, and to lift restrictions on flights of Iraqi Airways to destinations in the West.
The dispute over the part of the airlines widespread conflict on billions of dollars in damages dating back to the days of the invasion of Iraqi President Saddam Hussein of Kuwait in 1990-1991 when his forces captured the aircraft and parts of aircraft.
And reach Iraq and Kuwait in March / March to pay agreement whereby Iraq to Kuwait three hundred million dollars in cash, and invest two hundred million in a joint flight for Kuwait to withdraw lawsuits against Iraqi Airways.
The Iraqi Foreign Ministry statement that this decision would lift all restrictions and complications on rebuilding Iraqi Airways and freedom to purchase new aircraft and the establishment of an air fleet.
The Iraqi Airways operates regular flights to destinations in the Middle East, such as Beirut, Dubai, Tehran and Amman, but legal proceedings have made it difficult for them to start flights to European destinations where the aircraft may be exposed to confiscation.
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Iraq's Council of Ministers approved a draft budget for 2013 worth 138 trillion Iraqi dinars (118.6 billion dollars).
Ali al-Moussawi said media adviser to Iraqi Prime Minister Nuri al-Maliki, said the draft will be forwarded to the Parliament for final approval.
Meanwhile, government spokesman Ali al-Dabbagh said the draft budget adopted on an oil price of $ 90 per barrel, adding that Iraq expects to export 2.9 million barrels per day in 2013.
Iraq has the fourth largest oil reserves in the world, and contribute to oil revenues by 95% in the financing of its national budget.
Iraq exported about 2.6 million barrels per day on average last month, the highest total crude exports in decades.
Iraq seeks to increase shipments to more than 2.8 million barrels a day this month, and to increase its production to double within three years after decades of neglect of infrastructure as a result of war and economic sanctions.
Settlement with Kuwait
On the other hand, the Iraqi government said the Kuwaiti government gave final approval to a settlement with Baghdad to end a dispute over the Gulf War era debt, and to lift restrictions on flights of Iraqi Airways to destinations in the West.
The dispute over the part of the airlines widespread conflict on billions of dollars in damages dating back to the days of the invasion of Iraqi President Saddam Hussein of Kuwait in 1990-1991 when his forces captured the aircraft and parts of aircraft.
And reach Iraq and Kuwait in March / March to pay agreement whereby Iraq to Kuwait three hundred million dollars in cash, and invest two hundred million in a joint flight for Kuwait to withdraw lawsuits against Iraqi Airways.
The Iraqi Foreign Ministry statement that this decision would lift all restrictions and complications on rebuilding Iraqi Airways and freedom to purchase new aircraft and the establishment of an air fleet.
The Iraqi Airways operates regular flights to destinations in the Middle East, such as Beirut, Dubai, Tehran and Amman, but legal proceedings have made it difficult for them to start flights to European destinations where the aircraft may be exposed to confiscation.
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