Iraq’s cabinet approves 2021 draft budget of $103 bln

BAGHDAD: Iraq’s cabinet on Monday approved a 2021 draft budget of 150 trillion Iraqi dinars ($103 billion) as the country wrestles with a major economic and financial crisis due to low crude prices. The budget deficit would be estimated at 63 trillion dinars ($43 billion), two government sources said.
Draft 2021 budget is based on a world oil price of $42 a barrel, sources said. 
($1 = 1.450 Iraqi dinars)