Monday, February 11, 2019

Iraqi 2019 budget equals more than 9 Arab budgets, Figures

Baghdad/ Iraq TradeLink: Recently, the Iraqi Parliament voted for the federal budget of 2019 with the
amount of 111.5 billion dollars, with a deficit of 23 billion dollars.

The budget calculated oil barrel price with 56 dollars, for 3.88 million barrels per day.

This budget is the double size of the Iranian budget which reached to 47.5 billion dollars and 8 times of Jordanian budget of 2019 which did not exceed 13 billion dollars.

The Iraqi budget is considered double size of Kuwaiti budget which was calculated to be 60 billion dollars, with a deficit of 22 billion dollars.

It is three times of Oman Sultanate's budget which reached to 33.4 billion dollars, with a deficit of 727 million dollars and 11 folds of Bahrain’s budget which was estimated to reach 10 billion dollars.

The Iraqi budget exceed the Egyptian budget which reached to 94 billion dollars, as well as double the volume of Libya which reached to 50.3 billion dollars.

Though Iraq is the second oil producer in OPEC, it is still unable to provide the basic services to its citizens, due corruption.

The Iraqi people believe that they live in worst corrupted country in the world.

In addition, Iraqi Integrity Commission pointed that Iraq lost more than 400 billion dollars due to corruption during the past 15 years.

The current government of Premier Adel Abdul Mehdi is trying to combat corruption through a newly established anti-corruption higher council.