JPC on Twitter   JPC on Facebook   JPC on YouTube  
Subscribe to our Emails

inFOCUS Quarterly

Summer 2014

America's Global Withdrawal

Contribute

The JPC on JPC on Twitter

Quick comment/correction

Reader comment on: The Global Economic Crisis & Iraq's Future

Submitted by JW (United States), Jun 1, 2009 18:40

The authors wrote: "Accordingly, Iraq's government slashed its 2009 budget by about 25 percent, from $80 billion to nearly $60 billion. Yet, despite this reduction in expenditures, around $20 billion of that figure will be deficit spending. This is made possible in part by the fact that a budgetary surplus of around $35 billion remains from the 2008 oil boom."

The Iraqi parliament and all the press reports initially said that they expected the budget surpluses from the past to cover the current deficit. Since the budget has been passed the Central Bank of Iraq, which holds the surplus money has told the parliament that they will not cover the deficit. The Finance Minister just got a $2 bil loan from the IMF, and they're hoping for some revenue from the cell phone companies to cover the budget now. See: http://musingsoniraq.blogspot.com/2009/05/going-into-debt-to-cover-budget-deficit.html


Note: Comments are screened, and in some cases edited, before posting. This site reserves the right to reject anything found to be objectionable.

Other reader comments on this item

TitleByDate

irak fiuter [156 words]

BESTON BABAN 

Feb 7, 2012 04:49

good [5 words]

alaa 

Jan 21, 2011 14:03

⇒ Quick comment/correction [141 words]

JW 

Jun 1, 2009 18:40

the competition is not only Europe and US [198 words]

Ahmed Izzedien 

May 31, 2009 03:15

Comment on this item

Name
Email Address (optional)
Title of Comments
Comments:

Note: Comments are screened, and in some cases edited, before posting. This site reserves the right to reject anything found to be objectionable.

Follow the Jewish Policy Center

JPC on Twitter   JPC on Facebook   JPC on YouTube   RSS

Make your tax-deductible contribution to the JPC today

The Jewish Policy Center is a not-for-profit, non-partisan, 501(c)3 organization.
The opinions expressed in the pages of this website do not necessarily reflect the views of the Jewish Policy Center, its board, its members, or its staff.