War and mismanagement lead Iraq into fiscal crisis
- 27 Nov 2014
| 7 minute read
It appears that Iraq will not pass a budget for 2014. While a draft was passed in January, the legislative process quickly broke down due to a dispute related to Kurdish oil exports, and never resumed as the nation become engulfed in a second Sunni insurgency and Prime Minister Haider Al-Abadi struggled to form a new government. The government is now expected to simply declare its revenues and expenses by the end of the year; should Baghdad and the Kurdistan Regional Government (KRG) reach a revenue-sharing agreement, it would be wrapped into the budget for 2015.
Want to read more?
Extra Large Article
(Access to one GSN article)
Don't have an account?
Register for access to our free content
An account also allows you to view selected free articles and set up news alerts.