Iraq largest-ever $118bn budget approved posting 45 hike

Iraqi lawmakers approved the government’s 2019 budget, which at $111.8 billion is one of the largest ever for the oil-rich country.

It represents a nearly 45 per cent increase from last year and awards even more money for public salaries, including those of the northern Kurdish region.
Nearly 90pc of the budget comes from oil revenues.
Iraq expects to export 3.9 million barrels per day in 2019, including 250,000 bpd from the Kurdish region, at an average of $56 per barrel.