Finance Minister: Iraq is moving towards approving its first program and performance budget.
Finance Minister: Iraq is moving towards approving its first program and performance budget.
8-16-2026
Information/Baghdad…
Finance Minister Faleh Sari confirmed on Sunday that Iraq is moving towards approving its first program and performance-based budget in its history.
The ministry said in a statement received by the Information Agency that “the Finance Minister confirmed during his meeting with the British Ambassador that Iraq is moving towards approving its first program and performance-based budget in its history, according to a new methodology in managing public spending that links resource allocation to objectives, programs, and results, thus enhancing the efficiency of public funds use.”
He pointed out that “the closure of the Strait of Hormuz has had direct effects on the Iraqi economy, given the link between trade and oil flows and developments in the region,” stressing that “the ministry is proceeding to overcome the current circumstances by strengthening non-oil revenues, developing financial management tools, and continuing the reform process.”
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