By John Lee.
The Governor of the Central Bank of Iraq (CBI), Ali al-Alak, has reportedly said that Iraq’s foreign reserves have dropped to $50 billion.
According to a report from Reuters, this is down from $59 billion at the end of October 2015.
Prime Minister Haider al-Abadi has announced plans to narrow the public deficit by 38 percent in 2017, through a combination of lower spending and higher oil exports, together with the expectation of higher oil prices.
(Source: Reuters)


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