Written by DR. JOHN A. NAGL and DANIEL RICE
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17 July 2009
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Comments
The above report is more than a year old. There should be well over 100 Billion $ surplus in Iraqi budget due to oil revenues. What are we thinking? Let them bootstrap themselves
http://www.huffingtonpost.com/2008/08/05/iraqi-budget-surplus-of-7_n_117069.html?page=4
Unless they are paying to give their oil away, clearly they can affort $250 M to fund future economic growth.
I agree, Iraq should spend it's own money on jump starting it's entrepreneurs and rebuilding it's infrastructure but they so far have proven they can barely get a budget bill passed, let alone actually spend the money and spend it wisely.
For a report only a few months old read here: http://online.wsj.com/article/SB123565319808181881.html
They don't have $100B just sitting around and are cutting their budget...
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