Spokesman: Iraq Cabinet approves 2016 budget of $91 billion, pending parliamentary approval

October 19, 2015 10:36 AM

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BAGHDAD – A government spokesman says Iraq's Cabinet has approved next year's budget, sending it to parliament for final approval.

Spokesman Saad al-Hadithi told The Associated Press Monday that the 2016 budget of 106 trillion Iraqi dinars (about $91 billion) will run with a deficit of 23 trillion dinars ($19.72 billion). Al-Hadithi added that the deficit will be relieved through loans from local and international lenders.

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