Parliamentary Finance Committee: The 2027 budget is 217 trillion dinars, with a deficit of 50 trillion.
Parliamentary Finance Committee: The 2027 budget is 217 trillion dinars, with a deficit of 50 trillion.
2026-10-06
Shafaq News – Baghdad
On Tuesday, Abbas Ahyal, a member of the parliamentary finance committee, revealed that the total value of the draft general budget for Iraq for 2027 amounts to 217 trillion dinars, while the deficit in it reaches 50 trillion dinars.
Ahyal told Shafaq News Agency that the parliamentary finance committee hosted Finance Minister Faleh al-Sari today to discuss the draft general budget law for 2027, the most important articles and paragraphs of the law, and the date of its submission to the House of Representatives.
He added that “the total value of the general budget amounts to 217 trillion dinars, and the value of the deficit in the budget amounts to 50 trillion dinars, with the price of a barrel of oil set at $58, and an export capacity of up to 4 million barrels per day, and the exchange rate of one dollar was set at 1500 dinars.”
He explained that the budget law includes the regularization of contracts and daily wages to permanent staff, and the provision of 100,000 job positions on a contractual basis, indicating that 50% of the contracts will go to ministries and security departments.
For its part, the Parliamentary Finance Committee stated in a statement that its meeting with the Minister of Finance discussed the mechanism for dividing the budget and financial allocations between the line item budget and the program and performance budget, in addition to the experience of applying the program and performance budget to a number of governorates and government institutions as a first stage, in preparation for generalizing it to all governorates.
She added that the meeting addressed the issue of digital transformation, automation of systems, and the transition from paper-based to electronic systems, as well as ways to maximize state resources and diversify revenue sources to ensure reduced dependence on oil, control the budget deficit, and work to reduce expenditures.
The committee also discussed the work of banks and the stability of the dinar exchange rate against the dollar, stressing the need to develop an integrated strategy to address the problems facing financial work and to enhance joint coordination between the committee and the Ministry of Finance, with the aim of reaching a budget that meets the requirements.
Last Sunday, the parliamentary finance committee decided to host the finance minister to discuss the budget priorities and the date for sending it to the House of Representatives, after expressing its dissatisfaction with the lack of communication with it or its lack of access to the draft budget.
According to the Financial Management Law, the draft budget is supposed to be sent to the House of Representatives in mid-October (this month), specifically on the 15th.
shafaq.com
