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Iraq cabinet says gets 2007 draft budget of $39 bln
BAGHDAD - Iraq said on Thursday that a draft 2007 budget of around $39 billion had been delivered to the cabinet for review, prior to final parliamentary approval.
“The budget is about $39 billion. Today it is presented for the first time to the cabinet. It will discussed by the economic committee and in its final shape it will be presented to the parliament, to be approved or amended,” government spokesman Ali Al Dabagh told a news conference.
The 2007 draft compares with a 2006 budget of $34 billion.
The new Shia-led government of Prime Minister Nuri Al Maliki has promised to strengthen the economy to ease poverty and unemployment, which officials blame for boosting the ranks of a bloody insurgency aimed at toppling the US-backed government.
Tabling a comprehensive budget in parliament before the end of its summer recess represents a considerable improvement on last year, when the 2006 budget was not approved by lawmakers until early December, 2005.
“It has been prepared professionally and in a good way. Unlike the budget of 2006,” Dabagh said.
He gave no details about how much borrowing, if any, would be included in the government’s 2007 fiscal plans. Iraq earned around $24 billion in 2005, mostly from oil exports, and Finance Minister Bayan Jabor told Reuters earlier this month he expects a deficit of some $5 billion in 2006.
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