Parliamentary Finance Committee: The 2026 budget may be delayed, and spending will be based on the 1/12 rule.
Jamal Kojar, a member of the parliamentary finance committee, confirmed on Monday that preparing the 2026 budget is possible, but its approval may be delayed until the middle of next year.
Kujer explained in his interview with Al-Furat News Agency that “the disbursement mechanism at the beginning of 2026 will be based on the Financial Management Law according to the 1/12 rule of 2023, as the budget of that year is the basis, while the 2024 budget tables and oil prices therein were built on the 2023 budget.”
He added that “the 2023 budget was the actual financial basis, while the disbursement mechanism in 2024 was merely a set of schedules subordinate to it.”
These statements come amid ongoing discussions of the financial framework for the coming years, and the government’s reliance on the 2023 budget as a primary reference for spending operations, while the public awaits the start date for preparing the 2026 budget and its financing mechanisms.
Alforatnews.iq