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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Where Politics Fail, Football Triumphs

On 22 January, the Iraqi national football team beat its archrival, Iran, in a thrilling game worthy of being called the mother of all matches. The Iraqi team beat its Iranian counterpart after a dramatic 120 minutes of play, and a nerve-wrecking penalty shootout to clinch a spot in the Asian Cup semi-final in Sydney. The result unleashed spontaneous celebrations in all parts of the country. The win was reminiscent of the Iraq’s 2007 victory against Saudi Arabia in the Asian cup final because of the magnitude of emotions it engendered. When Iraq won the Asian title seven years...

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Bismayah: Iraq’s Largest Development Project

Ten kilometers southeast of Baghdad, just off the Baghdad-Kut highway, a whole new city is under construction. 100,000 residential units are planned to accommodate around 600,000 Iraqis in the biggest development project Iraq has ever seen. The project has received praise from numerous Iraqi figures, including former Prime Minister Nouri al-Maliki, who described it as a “dream” which “reflects our hope to provide housing units for all the Iraqi people who were deprived of their right to live in decent housing.” The National Investment Commission (NIC) of Iraq is developing the Bismayah New City Project, with design and construction...

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