Iraqi Parliament to approve 2023 budget of 140 trillion dinars soon – source

Iraq’s Parliament will approve the 2023 budget of 140 trillion Iraqi dinars ($ 95,923,261,000.00) in the coming days.

A source in the Parliamentary Finance committee, Mouin Al-Kadhimi, revealed that Prime Minister Muhammad S. Al-Sudani directed the minister of finance to complete the 140-trillion-dinars budget law to approve it and then refer it to the Parliament.

The budget deficit is estimated at 20 trillion Iraqi dinars, he said.

The 2023 budget set an oil price between $60-65 a barrel.

It is worth noting that Iraq depends on oil revenue for 95 percent of its income.