Oil for $62.5 in 2009 budget

BAGHDAD / IraqiNews.com: A spokesperson for the Iraqi government said that the cabinet has approved a new oil price of $62.5 a barrel under the 2009 budget. “The cabinet has formed a higher ministerial committee comprising the chairman and members of the economic committee, the ministers of electricity, industry, and science and technology to draw their visions of the Iraqi economic, financial and monetary policy,” Ali al-Dabbagh said in a statement released by his office and received by IraqiNews.com. The spokesperson explained that a study will be conducted in accordance with the international and domestic variables, the current international financial crisis, the fall in oil prices and their repercussions for the proposed 2009 budget. SS (P) 1