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Iraq reports surge in oil income

Iraq’s oil export earnings in August hit an all-time high this year, allowing OPEC’s second largest oil producer to boost spending on projects within its largest ever state budget approved in June, according to official data. Buoyed by high oil prices, Iraq projected record high capital expenditure in its three-year budget and a large part of the funds would be spent on infrastructure and unfinished projects with a value of billions.

Link: https://www.zawya.com/en/projects/oil-and-gas/iraq-reports-surge-in-oil-income-iigyjk3w

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