2027 budget: Assumed oil price of $60-$70
2027 budget: Assumed oil price of $60-$70
2026/08/23
The Ministries of Finance and Planning are intensifying their efforts to finalize the draft federal budget law for the year (2027), in preparation for submitting it to Parliament by the end of October or the beginning of November, setting a hypothetical oil price ranging between (60 and 70) dollars per barrel as a key basis for determining revenues and the size of the budget.
Spending.
The Prime Minister’s economic advisor, Mazhar Muhammad Saleh, explained to Al-Sabah that the draft budget will be presented to the Ministerial Council for the Economy next month, noting that regional tensions are putting pressure on public resources, which may require a supplementary budget in the middle of (2027), with reliance on a hypothetical deficit of (64) trillion dinars.
For his part, Jamal Kojar, a member of the parliamentary finance committee, told Al-Sabah newspaper that the actual deficit is likely to exceed previous estimates due to the limited viability of alternative export outlets in compensating for the price decline. He confirmed that the budget will expand its implementation of “programs and performance” measures, will not include any new investment projects, and will focus solely on completing existing projects.
alsabaah.iq
