2018 budget faces opposition, delays

9 Dec 2017   Iraq

Kurdish, Sunni and Basrawi MPs are the most vocal critics of the draft budget, claiming inadequate revenue sharing despite slightly increased overall spending. Iraq’s Cabinet has sent a 2018 draft budget to the Parliament, where legislators say they will struggle to pass it before the end of the year. The draft calls for $88 billion* in government spending, a slight increase over 2017, and anticipates higher oil revenues, based on a projected 3.888 million barrels per day (bpd) of exports and an average oil price of $46 per barrel

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