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Iraq expects 2010 budget deficit, asks IMF loan
Wednesday, October 28th 2009 4:43 PM
Kirkuk, 28 October (AKnews) – the 2010 Iraqi budget is expected to be deeply affected by a sharp deficit, however, the International Monetary Fund (IMF) is expected to give Iraq a huge loan to redress the balance, says an MP on the Financial Committee in the Iraqi parliament.The Iraqi Ministry of Oil
“Iraq is expected to be struck by a sharp deficit of US$18 billion in its 2010 budget,” mentions Ismail Shukur, deputy head of the Financial Committee in the Iraqi parliament.
The IMF will loan Iraq a package of US$7 billion which can redress the balance to some extent, according to Shukur.
Iraq exports 2.5 million barrels of oil everyday, which counts for most of its income.
“The Iraqi budget is heavily relying on oil exports, expected to sell each barrel of oil for US$70 to US$80 in world markets next year. Iraq, however, has calculated that each barrel of oil will be sold for an average price of US$62.5,” he concluded.
ry AKnews
Iraq expects 2010 budget deficit, asks IMF loan
Wednesday, October 28th 2009 4:43 PM
Kirkuk, 28 October (AKnews) – the 2010 Iraqi budget is expected to be deeply affected by a sharp deficit, however, the International Monetary Fund (IMF) is expected to give Iraq a huge loan to redress the balance, says an MP on the Financial Committee in the Iraqi parliament.The Iraqi Ministry of Oil
“Iraq is expected to be struck by a sharp deficit of US$18 billion in its 2010 budget,” mentions Ismail Shukur, deputy head of the Financial Committee in the Iraqi parliament.
The IMF will loan Iraq a package of US$7 billion which can redress the balance to some extent, according to Shukur.
Iraq exports 2.5 million barrels of oil everyday, which counts for most of its income.
“The Iraqi budget is heavily relying on oil exports, expected to sell each barrel of oil for US$70 to US$80 in world markets next year. Iraq, however, has calculated that each barrel of oil will be sold for an average price of US$62.5,” he concluded.
ry AKnews
