About: http://data.cimple.eu/news-article/e71e9e2b8d2ab817f45c4ef7ba7ad7d8d5ed103f9c4f2a19aee087ad

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About: http://data.cimple.eu/news-article/e71e9e2b8d2ab817f45c4ef7ba7ad7d8d5ed103f9c4f2a19aee087ad Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	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 financial and economic woes. The Iraqi dinar has lost around 25 percent of its value within weeks, in a country where job losses and poverty are on the rise. According to the World Bank, the level of poverty doubled in 2020 and 40 percent of the country's 40 million people are now considered "poor". The Iraqi economy, one of the world's most oil-dependent, according to the World Bank, saw its gross domestic product contract by about 10 percent this year. The 2021 budget forecast that 80 percent of state revenues will rely on oil sales, including 250,000 bpd produced in the autonomous Kurdish region of northern Iraq. The budget also estimated investments at $19.6 billion compared to $27.8 billion in 2019, when the deficit stood at $23.1 billion. lk-sbh/hkb/sw
schema:headline	Iraq parliament approves 2021 budget
schema:mentions	Iraqi dinar OPEC Barrel World Bank Poverty Gross domestic product Pandemic Severe acute respiratory syndrome coronavirus 2 Kurdistan Regional Government Ba'athist Iraq Financial crisis of 2007–2008
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-01 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	62 (xsd:integer)

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