FINANCIAL NEWS

Iraq issues 2017 budget deficit at USD42 barrel

28 Sep 2016

(MENAFN) Iraq issued next year’s budget, which is assumed that the country will be exporting more crude and at a higher price than in recent months.Moreover, the OPEC nation predicts to sell 3.75mn barrels per day of crude at a price of USD42 a barrel.However, the 2017 budget project a decline in spending to USD77.51bn, reflecting the sharp drop in oil prices and revenues since 2014.On the other hand, the government’s crude oil ran at a rate of 3.23mn barrels per day in August, selling at average price of USD39.25 per barrel.

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