Iraqi government budget set at $67 billion

BAGHDAD, Nov. 12 (UPI) -- The Iraqi Cabinet has approved a $67 billion budget for 2009, $19 billion more than the current year's figure, officials said.

Some $52 billion of that would be budgeted for operational expenses and $4.1 billion for investments, government spokesman Ali Dabbagh told Iraqi broadcaster al-Sumaria. Dabbagh said that the budget would soon be submitted to the parliament for ratification.

Sharply lower oil prices forced the government to revise its spending plans downward, prompting it to cut $13 billion from its spending plans, al-Sumaria reported.