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Al Monitor (27 January 2021)

Salam Zidane

The Iraqi parliament is debating the 2021 state budget, while voting is anticipated before the end of January 2021.

The state budget is projected at $113.2 billion, with an estimated deficit of $50.3 billion to be covered via borrowing, additional taxes and a currency devaluation by 18.5%.

On Oct. 14, 2020, the government approved an economic reform plan called the White Paper, which involves a shift in the country’s economic approach from a centrally planned economy to a market economy. It also consists of lowering the number of civil servants, supporting the private sector, reducing corruption and opting for good governance.

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