(AhlulBayt News Agency) - Dabbagh said in a statement on Wednesday that the budget is based on an oil price of $73 a barrel and average crude output of 2.25 million barrels a day.
The 2011 budget showed an increase of about 9 percent on the previous year's spending plan.
The 2010 budget of 84.7 trillion dinars was based on an oil price of $63.50 a barrel, and forecast a deficit of 22.9 billion trillion.
Iraqi lawmakers still need to approve the document. The process has been delayed by the eight-month political deadlock that followed inconclusive parliamentary elections in March.
Iraq took its first steps to form a new government last month when Prime Minister Nouri al-Maliki secured a second term and was tasked with choosing the new cabinet.
A total of 29 trillion dinars was set aside for investment next year, and 64 trillion for operational expenses, Dabbagh said.
Iraq has official oil reserves of 143.1 billion barrels and depends on oil revenue to fund about 95 percent of its budget.
/106
