Cabinet Approves $9.4bn Supplementary Budget
Iraq’s cabinet has approved a supplementary budget for 2012 of 10.875 trillion Iraqi dinar ($9.35 billion), in addition to the $100.5 billion package agreed by parliament in February which was based on an average world oil price of $85 a barrel and crude oil exports of 2.6 million bpd.
According to Reuters, budgetary matters usually pass through parliament after approval by the cabinet.
Spokesperson of the Iraqi Government, Dr Ali al-Dabbagh (pictured), said that the supplementary Budget has been distributed “according to the necessary priorities”, incuding IQD 2 trillion allocated to the Ministry of Electricity’s projects, 1.4 trillion for the Ration Card, 1 trillion for the Defense Ministry and IQD 830 billion as compensations of the Kuwait War.
(Sources: Reuters, AIN)