Iraq Has $79B Budget Surplus

GAO says Bagdad sitting on a lot of money, raising complaints from US senators

By the Associated Press

Posted Aug 5, 2008 7:45 PM CDT

(AP) – The Iraqi government could end this year with as much as a $79 billion cumulative budget surplus, based largely on ever-increasing oil revenues, US congressional auditors say. A report by the Government Accountability Office made public today prompted renewed calls from senators that Baghdad pay... Read full story »

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Iraq • John Warner • GAO • Carl Levin • Iraq reconstruction • Iraq war spending

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Iraq Has $79B Budget Surplus

GAO says Bagdad sitting on a lot of money, raising complaints from US senators

Iraq • John Warner • GAO • Carl Levin • Iraq reconstruction • Iraq war spending

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More Newser Stories

Oil-Rich Iraq Should Fund Reconstruction, Say Senators

US taxpayers are footing bill instead

Derelict Iraqi Water Park a Symbol of US Fund Abuses

Program gave US officers great flexibility, but also led to waste

Billions Wasted on Abandoned Iraq Projects

Watchdog agency says $5B estimate may be understatement

Pentagon Lost Track of $8.7B in Iraqi Oil Money

It didn't wind up in specially designated accounts

US Fears $53B in Iraq Reconstruction Will Go to Ruin

Projects from power plants to hospitals are at risk of sitting idle

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