MP: The 2026 budget will be the most complex compared to previous years

MP Mohammed al-Bayati confirmed on Monday that there is still no set date for the 2026 budget to be presented, noting that it will be the most difficult and complex compared to previous budget cycles.

Al-Bayati told Al-Maalouma, “As of now, there is no specific date for the Council of Ministers to present the 2026 budget and send it to the Finance Committee in the House of Representatives for review before proceeding with the first and second readings and then voting on it.”

He added, “If presented, the budget will be the most difficult and complex compared to previous years, due to the financial and economic challenges, as well as the repercussions of what is currently happening in the Arabian Gulf.”

He pointed out that “Iraq has lost the ability to export more than 90% of its crude oil, which is the main source of revenue for the state treasury,” indicating that “the country’s financial situation is difficult by all measures.”

Al-Bayati explained that “there is anticipation for a roadmap that the government is preparing in coordination with the Council of Representatives, in order to proceed with financial and economic reforms that will contribute to correcting many errors and formulating paths that ensure the securing of operational expenses, especially salaries, during the next phase.”

He concluded by saying that “despite the Ministry of Finance’s assurances that salaries are secured, the current phase requires real measures that contribute to creating a state of financial stability.”

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