Al-Hakim: The financial crisis in Iraq is exceptional, and we look forward to enacting the 2027 budget before the end of the year.
Al-Hakim: The financial crisis in Iraq is exceptional, and we look forward to enacting the 2027 budget before the end of the year.
2026-10-28
Shafaq News – Diyala
The head of the National State Forces Alliance, Ammar al-Hakim, described on Wednesday the financial crisis that Iraq is going through as a “comprehensive national” crisis resulting from an exceptional circumstance due to security tensions and disruptions to energy supply chains in the region, expressing his hope that the government and parliament will be able to pass the 2027 budget law before the end of this year.
This came during a joint press conference held by Al-Hakim with the Governor of Diyala, Adnan Muhammad Al-Shammari, and the head of the provincial council, Omar Maan Al-Karawi, on the sidelines of his visit to review the service and security situation in the province.
Al-Hakim said that “the financial crisis is a comprehensive Iraqi national crisis linked to the war conditions that the region went through, the closure of the Strait of Hormuz, and the cessation of the flow of Iraqi oil for many months,” noting that “even with the return of exports, it was intermittent as a result of the targeting of some Iraqi tankers, which created an exceptional situation that was directly reflected in the state’s revenues.”
He stressed that the Federal Ministry of Finance is doing its utmost to provide the revenues required to secure salaries and entitlements for farmers and contractors, operational budgets, and the governing needs of the governorates.
Al-Hakim added that “the 2027 budget bill is currently before the Council of Ministers, and we hope that it will be approved and sent to the House of Representatives for legislation before the end of the year,” noting that the budget includes funds allocated for the development of governorates and regions and petrodollar entitlements, which will contribute to creating a comprehensive development renaissance.
shafaq.com
