Author: Iraqi Thoughts

Key Takeaways from Iraq’s 2015 Federal Budget

The passing of Iraq’s 2015 federal budget marked a key economic milestone for the country. At its core, the breakthrough represented a key political milestone given the failure of Iraq’s political blocs to reach agreement on last year’s budget. Here are the key takeaways from the budget law: – Total budget: $105 billion – Total revenues: $83 billion – Total revenues from oil: $69 billion – represents 83% of total revenues – Based on average oil price of $56 per barrel at exports of 3.3m b/d including 250k b/d from Kurdistan Region and 300k b/d from Kirkuk (as part...

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