Iraqi government on Monday approved a 2023 budget of a whopping $153 billion that sets out record spending on a growing public wage bill and development projects to improve services and rebuild infrastructure ruined by neglect and war.
The budget is based on an oil price of $70 per barrel and projects oil exports at 3.5 million barrels per day (bpd), including 400,000 bpd from the semi-autonomous Kurdistan region, lawmakers said, Reuters reported.
The budget adds more than half a million new public sector workers, hiring that flies in the face of the recommendations of many observers who say Iraq should tighten fiscal policy.
Mohammed Nouri, a member of the parliament’s finance committee, told Reuters ahead of the session more than a million new workers were added, including contractors, daily employees and full-time staff.
The budget adds more than half a million new public sector workers, hiring that flies in the face of the recommendations of many observers who say Iraq should tighten fiscal policy.
Mohammed Nouri, a member of the parliament’s finance committee, told Reuters ahead of the session more than a million new workers were added, including contractors, daily employees and full-time staff.