Parliamentary Finance Committee: The Ministry of Finance has begun preparing the 2027 budget.
The Parliamentary Finance Committee confirmed on Friday that the Ministry of Finance has begun preparing the 2027 budget. The committee also indicated that the Grants and Borrowing Law will be presented to Parliament next week. Committee member Ikhlas al-Dulaimi stated to the official news agency that “during the committee’s visit to the Prime Minister, several issues were agreed upon, including the agreement to send the 2027 budget.” She added that “the Finance Committee has taken upon itself the task of legislating the Grants and Borrowing Law, and an agreement has been reached with the government to approve it. The first reading will take place next week.”
She added that “the Ministry of Finance is directly involved in preparing the 2027 budget, and has prepared the budget strategy and involved the Finance Committee and a number of ministries and representatives of the region in it, in order to send it to the committee.” She continued that “there is an agreement between the Prime Minister and the Finance Committee that there should be a budget and pass it in the House of Representatives as quickly as possible, considering that the country’s situation requires that there be a budget in order to have financial stability in which the exchange rate, the price of a barrel, export mechanisms and how to work are determined.”
Regarding the confirmation of contracts, Al-Dulaimi explained: “We did not discuss the contracts with the Prime Minister and the Minister of Finance, but the financial situation is difficult due to the lack of oil exports, so we expect that the state will not get involved in the details of the financial aspects.”
The member of the Finance Committee also explained that “according to what is included in the Financial Management Law, the budget must reach Parliament on 10/15 of this month for its approval for next year,” explaining that “we hope to resolve the crisis of promotions and allowances in the budget.”
Burathanews.com