MP reveals error in calculating dollar exchange rate in draft budget
MP reveals error in calculating dollar exchange rate in draft budget
11-5-2026
Information/Baghdad…
Member of Parliament Mohammed Araboud revealed on Thursday a major error in the calculation of the dollar exchange rate in the draft federal budget law, stressing that the issue of oil revenues and the fate of those funds represents a “perennial problem” that has yet to be resolved.
Araboud told the Information Agency, “The issue of oil revenues and where the resulting funds go is a persistent and longstanding dilemma within the state apparatus, and it is not expected to be addressed or resolved radically in the near future.”
Regarding the impact on the approval of the general budget, Araboud explained, “We have heard of a major error in the method of calculating the dollar exchange rate in the draft budget law,” indicating that “the figures in the tables were drawn and calculated according to the previous exchange rate of 132,000 dinars per 100 dollars.”
He added that “this calculation now requires immediate and fundamental revision, as it has changed by 20,000 dinars following the recent Cabinet decision,” noting that “this discrepancy necessitates a thorough review and re-examination of all accounting tables and projected revenues before the project is submitted to Parliament for a vote.”
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