Highlights/Thoughts
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1. The increase in oil prices this year may add 8 billion dollars to Iraq's budget
2. The unplanned monies can be allocated to implement more projects, according to the Secretary-General of Iraq's Council of Ministers
3. He added the increase would also be used to implement additional services projects across the country
4. Oil reached $108.31 dollars per barrel at the end of last week
5. Iraq's budget priced in oil at $76 per barrel
Iraq's February oil export highest since invasion
Recall that Iraq said they would fill budget deficit by taking advantage of higher oil prices, and by increasing exports. Now if Shababi would do what he said he would do, which is adjust the exchange rates to fit the budget, we might be happy!
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