On December 7th the Iraqi Parliament approved the 2017 federal budget and the financial instruments it intends to use to fund the expected budget deficit. The budget will be worth IQD79.0 trillion (~US$66.8 billion) with an expected deficit of IQD21.6 trillion (~US$18.3 billion; 27.4% of total government revenue) according to the Ministry of Finance (refer to Table 1). The country is expected to spend IQD75.2 trillion on on-going expenses for the year (75% of total expenditure), while the remainder IQD25.4 trillion will be used to fund capital investments.
