BAGHDAD — Iraq’s parliament pushed back voting Saturday on this year’s budget and could be forced to make further cuts because of falling oil prices.
The latest delay in trying to ratify the $64 billion budget proposal highlights the financial squeeze facing Iraq as declining oil revenues cut into reconstruction plans such as new roads and improved utilities — which the Shiite-led government hopes to use as showcases in national elections later this year.
A Sunni lawmaker, Ayad al-Samarraie, predicted the budget will face more trimming after several previous cuts from its original $79 billion. Oil is now less than $45 a barrel after hitting highs last summer of $150 a barrel. The current budget is based on a $50-a- barrel projection.
U.S. Army Lt. Gen. Frank Helmick, commander of Multi-National Security Transition Command, told The Associated Press that the budget crisis would force Iraq to make difficult decisions about how to increase its security forces.
