Iraq Sees 2005 Oil Revenues Up 31.4% On '04-Government

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Iraq Sees 2005 Oil Revenues Up 31.4% On '04-Government

http://www.iraqdirectory.com/DisplayNews.aspx?id=566

[Lux]

"The budgetary position in 2005 has improved substantially - the federal deficit for 2005 will be significantly lower than anticipated because of the higher-than-expected oil prices," the report said.

Iraq expects to earn around $28.5 billion from oil sales next year, or an increase of 24% on this year, according to the government's draft budget, which parliament has already approved, according to a report on local satellite television Al-Iraqiya Monday.

We have a long way to go, but this is significant progress in my opinion.