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Facts on Iraq Reconstruction

Facts on Iraq Reconstruction

Quick facts on Iraq reconstruction:

_ Since 2003, Congress has appropriated about $47.5 billion while the Iraqis have budgeted $50.6 billion. International contributions have totaled $15.8 billion.

_ The U.S. has allocated most of its money, but Iraq hasn't. In 2006 and 2007, for example, Iraq designated $16.3 billion as its capital budget, which is used to invest in reconstruction projects. But it spent only $2.9 billion.

_ The Treasury Department estimates that Iraqi oil production this year will generate $35.4 billion, or 84 percent of Baghdad's revenue.

_ Stuart Bowen, the special inspector general for Iraq reconstruction, estimates that because the price of oil has increased sharply, the country's oil revenue will probably be closer to $60 billion.

_ Iraq's 2008 budget of $46.8 billion was calculated based on $57 per barrel oil, roughly half the current market rate.

Facts on Iraq Reconstruction - Source

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