Iraq parliament approves 2021 budget as Baghdad faces economic crisis ...Kuwait

Iraq's 2021 budget was revealed by authorities on Thursday.Iraq's parliament unveiled a 2021 budget on Thursday that foresees a deficit of around $20 billion, as it struggles with a financial and economic crisis exacerbated by the coronavirus pandemic. The government forecasts revenues of $69.9 billion based on oil exports of 3.25 million barrels per day. The budget set a barrel of oil at $45, well below the market price of $60. Iraq last approved a budget in 2019, but the following year it failed to adopt a budget as it faced nationwide protests and a change of government. War-scarred Iraq is the second biggest crude producer in the OPEC oil cartel, but it has been wrestling with mounting

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