2016 budget proposal of Iraq shows $25.81 billion deficit

Finance Ministry of Iraq has proposed a 2016 government budget worth 113.5 trillion Iraqi dinars ($99.65 billion) with a budget deficit of 29.4 trillion Iraqi dinars ($25.81 billion).
Deputy Finance Minister Fathil Nabi said that the budget forecasts oil at $45 a barrel and presumes the continuation of a 2014 deal with the semi-autonomous Kurdistan region over oil revenues.
The government has projected a fiscal deficit of about $25 billion this year, in a budget of roughly $100 billion.