Iraq’s cabinet on Monday approved a 2021 draft budget of 150tn Iraqi dinars ($103bn) as the country wrestles with an economic and financial crisis due to low crude prices. The budget deficit would be estimated at 63tn dinars ($43bn), two government sources said. The draft 2021 budget is based on a world oil price of $42 a barrel and expected oil exports of 3.25mn barrels per day (bpd), including 250,000 bpd from the Kurdish region, the officials said. But despite approval of the budget, which should be referred to parliament for final approval, disputes between the central government and semi-autonomous Kurdish region are still unresolved, a government senior economic adviser said. “Differe
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