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View Full Version : Iraq's 2014 budget hanging on a cliff- and Kurdistan is the only one that can save it



Investors Iraq News
01-28-2014, 08:37 PM
Iraq's 2014 budget hanging on a cliff- and Kurdistan is the only one that can save it

Iraq cannot finance its projected 2014 budget deficit unless the northern Kurdistan region pays its oil export revenue into the national treasury – or loses its share of state spending, a senior lawmaker said. Haider Al Abadi, head of parliament’s treasury committee, told Reuters the budget, swollen by extra expenditure, would “collapse” if the state kept paying the autonomous region its 17 per cent share even as the Kurds with hold oil export proceeds.

Source: IraqDirectory.com (http://www.iraqdirectory.com/en/2014/01/28/26206/iraqs-2014-budget-hanging-on-a-cliff-and-kurdistan-is-the-only-one-that-can-save-it.aspx)

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