2010 budget boosts oil-producing provinces

The $72bn budget awards dollars to oil-producing provinces and sites of pilgrimage. A stern warning is issued to Kurdish authorities in the form of penalties for cutting off exports.

Iraq's 2010 budget is set to be passed by the Presidential Council tomorrow, the final step before a bill becomes a law, bringing with it radical bonuses for oil-producing regions, significant concessions to the Kurdistan region and rewards for Shia pilgrim areas.The bill, which amounts to more than $72.4 billion, sets out new rules outlining how provinces will receive money according to hydrocarbon production levels.The budget stipulates that provinces will receive $1 for each barrel ...

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