SULAIMANI (ESTA) — Iraqi President Barham Salih signed into law the draft federal budget law on Thursday, his office said.
“The approval [of the budget bill] is to secure the needs of our people, and to finance salaries of employees and government expenditures, in a way that achieves social justice for all region of Iraq and all components of society,” his presidency cited Salih as saying.
Salih stressed the need to do financial and economic reforms and to support various economic sectors, according to the Iraqi presidency.
The Iraqi Council of Representatives approved the federal budget of 130 trillion Iraqi dinars ($89.65 billion) as the country wrestles with an economic and financial crisis due to low crude prices.
The budget deficit is estimated at 28.7 trillion Iraqi dinars ($19.79 billion).
