Amid chaos and verbal conflicts, Iraq's parliament late on Monday finally approved a three-year budget bill of nearly 198.9 trillion dinars ($153 billion), the biggest in the country’s history. The new deal gives Baghdad the upper hand in the issue over northern Iraqi-Kurdish oil and sets out record spending including a burgeoning public payroll. It will cover Iraq's budgets for 2023 and the next two years, but is subject to amendments. The law is based on an oil price of $70 per barrel, and the exchange rate for oil revenues in US dollars at 1,300 dinars per dollar. The law is designed on oil exports at 3.5 million barrels per day (bpd), with an estimated deficit
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