174.6 trillion Iraqi dinar budget in 2014
174.6 trillion Iraqi dinar budget in 2014 ($ 150.1 billion dollars)
Iraq’s fourth-largest oil reserves in the world, and aims to increase the capacity to produce about 8.5 million barrels per day by 2017.
BAGHDAD / obelisk: Fadel said Nabi, Deputy Finance Minister Wednesday that Iraq’s budget for 2014 is likely to reach total volume of 174.6 trillion Iraqi dinars (150.1 billion dollars), based on an oil price of 90 dollars per barrel.
trying member country Organization of Petroleum Exporting Countries rebuild its economy, which destroyed over the years of wars and sanctions, relying mainly on oil revenue which funds about 95 percent of its budget.
Iraq’s fourth-largest oil reserves in the world, and aims to increase the capacity to produce about 8.5 million barrels per day by 2017, which could bump up to the rank of major producers in the world.
said Nabi said the budget plan for 2014 expects oil exports size of 3.4 million barrels per day.
, adding that it allocates trillion Iraqi dinars (860 million dollars) for the oil companies operating in the Kurdistan region near future, which is expected to issue 250 thousand barrels per day of crude.
arrived Budget 2013 to 138 trillion Iraqi dinars based also an oil price of 90 dollars per barrel, but with exports less volume amounting to 2.9 million barrels per day.
and budget allocates 64 trillion dinars for investment projects, while the balance goes to spend on salaries and program food commodities supported.