SULAIMANI (ESTA) — The Iraqi Council of Representatives conducted the first reading for the country’s draft budget bill for fiscal year 2021.
The parliament’s press office said in a statement that lawmakers had finished the first reading of the draft bill during a session on Saturday.
Coordinator of Iraqi parliament’s committee of finance Ahmed Safar said earlier that a session would be held on Monday to finish the second reading.
In December, the Iraq Council of Ministers approved the draft budget of 150 trillion dinars ($103 billion) to the Iraqi parliament for consideration and a vote.
The budget deficit would be estimated at 58 trillion dinars ($48 billion). Income is set at 92 trillion dinars, with oil revenue standing at 73 trillion.
The draft budget is based on a world oil price of $42 a barrel and expected oil exports of 3.25 million barrels per day (bpd), including 250,000 bpd from the Kurdistan Region.
