The Iraqi government submitted a draft budget to the parliament for approval with higher expenditures in line with higher oil prices, Ali al-Dabbagh, the government spokesman, said Sunday (February 6th).

The budget projects nearly $82 billion in spending based on a projected national income of $68.6 billion based on oil prices of $76.50 per barrel and 2.2 million barrels exported per day, accordint to AFP. Increased spending was allocated for several ministries including agriculture, resources, municipalities, and education

The $13.3 billion budget deficit will be covered by "money accumulated from past surpluses and from internal and external loans," al-Dabbagh said.