“With a unique experience,” a government advisor reveals the features of the 2026 budget.

The Prime Minister’s financial advisor, Mazhar Muhammad Salih, revealed the outlines of the draft general budget law for next year, 2026, as the 2025 fiscal year draws to a close and the countdown to the conclusion of the current parliamentary session begins.

Saleh said in a press statement that the 2026 budget “will involve a unique financial experience, characterized by precision and the ability to manage economic activity. It will witness an expansion of the fiscal space, which means a greater ability to collect non-oil revenues.”

He explained that, “According to the current Federal Financial Management Law No. 6 of 2019, as amended, the financial authority, in cooperation with the Ministry of Planning, is currently working to prepare the broad outlines of the 2026 budget, in preparation for presenting it to the Ministerial Council for the Economy next September.

It will then be referred to the government to discuss its constants and variables before submitting it to the House of Representatives in accordance with the constitutional process.”

Saleh explained that, “The draft 2026 budget law will involve a unique financial experience, characterized by precision and the ability to manage economic activity, especially since government spending constitutes nearly 50% of the gross domestic product.”

He added, “The upcoming budget will build on a previous successful experience in medium-term financial planning for a period of three years, in accordance with Federal General Budget Law No. 13 of 2023.”
The Prime Minister’s advisor explained

Alforatnews.iq

Through 5 factors, Iraq aims to bring the dollar exchange rate to “conformity”

Financial and economic advisor to the Prime Minister, Mohammed Shia al-Sudani, revealed on Tuesday five factors that could help narrow the gap between the official dollar exchange rate and its parallel market price, potentially leading to “convergence” between the two rates.

The official exchange rate of the dollar, approved by the Central Bank of Iraq, is 132,000 dinars per $100. Meanwhile, the parallel market exchange rate has approached 139,000 dinars over the past two days in Baghdad and the Kurdistan Region, representing a gap the government is seeking to bridge.

Mazhar Mohammed Saleh told Shafaq News Agency, “The decline in the value of the dollar on the parallel market, in favor of the Iraqi dinar, and its approach to the official rate, is due to several reasons and factors, the first of which is the ban on dealing in dollars domestically, especially in the real estate sector, which constituted a major deterrent to the phenomenon of dollarization.”

He added, “The second factor is the shift to a policy of foreign exchange bolstering through international correspondent banks, which handled foreign transfers after the Central Bank’s window ended at the beginning of this year, reducing the risk of resorting to high-cost informal financing.”

Saleh continued, “The entry of small importers into the formal financing system and their reliance on a fixed exchange rate for external transfers, which constitutes approximately 60% of total foreign trade, is the third factor in narrowing the gap.”

He pointed out that “the fourth factor is the expanding culture of using electronic payment cards in foreign currency among travelers, which has eased the pressure on demand for cash dollars, in addition to facilitating travelers’ access to their dollar share through airports, subject to clear controls.”

The fifth factor, according to Saleh, is “the price defense policy through the expansion of cooperatives for consumer goods and building materials, financed by imports calculated at the official exchange rate of 1,320 dinars per dollar, reflecting the integration of monetary, fiscal, and trade policies within the government program.”

The financial advisor concluded his statement by saying, “The fact that the difference between the official and parallel rates is approaching less than 4% indicates that we have entered the convergence phase, as this difference represents only the cost of transactions.”

Shafaq.com

Economist: Iraq plans to increase its oil exports to 6.5 million barrels per day.

Economic expert Safwan Qusay confirmed on Wednesday that the agreement for the oil pipeline between Iraq and Turkey via the Ceyhan port has not been canceled, but rather work is underway to develop it and expand the horizons of economic cooperation between the two countries to include broader areas and larger quantities of oil exports.

Qusay said in a statement to Al-Maalouma Agency, “The Ministry of Oil’s policy is directed towards gradually increasing oil exports to about 6.5 million barrels per day, with future plans to raise them by an additional three million barrels.”

He pointed out that “exports will not be limited to Turkey, but will also include European Union countries, the Baniyas port in Syria, in addition to reactivating the strategic pipeline with Saudi Arabia and the Aqaba port in Jordan.”

He explained that “expanding the export circle and diversifying its routes requires a renewed understanding with the Turkish side regarding the export quantities via the Ceyhan pipeline.”

He pointed out that “Turkey seeks to transform the agreement into a strategic partnership that includes the transport of no less than 2.2 million barrels of crude oil per day, with the possibility of including Iraqi and Qatari gas in the future, in addition to Basra crude.”

Qusay explained that “the Turkish economy is looking forward to integrating with the Iraqi economy through regional development projects,” stressing that “there is no cancellation of the agreement, but rather there are new paths to activate it in a way that achieves common interests, especially after the losses incurred by the Turkish side as a result of the pipeline’s shutdown, which amounted to more than $264 million due to maintenance work.”

Almaalomah.me

Al-Sudani’s office publishes new details of the phone call with the US Secretary of State.

The Iraqi government released new details on Wednesday regarding the phone call between Prime Minister Mohammed Shia al-Sudani and US Secretary of State Marco Rubio.

The office stated in a statement received by Shafaq News Agency that “Al-Sudani received a phone call from Rubio, during which they reviewed bilateral relations and the general situation in the region.”

According to the statement, Al-Sudani affirmed Iraq’s support for efforts to consolidate stability in the region, sustain ceasefire agreements, and halt aggression.

He pointed to “the recent attacks on vital oil facilities in the Kurdistan Region of Iraq and in the provinces of Salah al-Din and Kirkuk,” describing them as “targeting the Iraqi national economy.”

He added that “security services are monitoring the sources of the attacks with the international coalition to fight ISIS,” expressing his “surprise that these attacks coincided with the agreement of principles between the Ministry of Oil and American investment companies operating in the region to invest in a number of oil fields in Kirkuk and Salah al-Din.”

The call also touched on the Popular Mobilization Forces (PMF) law, according to the statement. Al-Sudani explained that “submitting this law to the House of Representatives is part of the government’s security reform process, and is part of the government program approved by the House of Representatives. This process has included the approval of similar laws for other agencies within our armed forces, such as the Intelligence and National Security Services.” He emphasized that “the PMF is an official Iraqi military institution operating under the authority of the Commander-in-Chief of the Armed Forces.”

He continued, saying that the Kurdistan Regional Government’s commitment to transferring oil production and non-oil revenues to the public treasury, through the recent Cabinet decision, within the framework of the provisions of the current budget law, and the relevant Federal Court ruling, has helped resolve financial and legal obstacles between the federal government and the regional government. He indicated that “the government’s national and constitutional commitment to Iraqi citizens is reflected in its actions in all areas.”

He reiterated Iraq’s economic vision, the importance of resuming oil exports through the Iraq-Turkey pipeline, and halting all forms of smuggling and illegal practices targeting oil resources.

Earlier today, State Department spokeswoman Tammy Bruce said that Rubio emphasized to al-Sudani the need to hold accountable those involved in recent attacks targeting energy infrastructure in the Kurdistan Region of Iraq, including those operated by US companies.

Rubio also highlighted, according to the spokeswoman, US concerns about the Popular Mobilization Forces (PMF) bill currently under discussion in the House of Representatives, stressing that “enacting this type of law would entrench Iranian influence and terrorist armed groups that undermine Iraq’s sovereignty.”

Shafaq.com

The Coordination Framework affirms its full support for the Baghdad-Erbil agreement on financial and oil issues.

The Coordination Framework, which brings together Iraq’s ruling Shiite political forces, affirmed its full support on Wednesday for the recent agreement between Baghdad and Erbil regarding financial and oil issues between the two sides.

A leader in the framework, Amer Al-Fayez, told Shafaq News Agency, “During its meeting last Monday, the Coordination Framework announced its support for the recent Baghdad-Erbil agreement regarding salaries, financial issues, and oil.”

He added, “The Coordination Framework emphasized during the meeting the need to resolve all outstanding issues and continue dialogue to overcome the crisis.” He continued, “We support the recent agreement, which resulted in the release of salaries for the region’s employees for May by the federal Ministry of Finance, and there are ongoing dialogues between Baghdad and Erbil.”

The federal Ministry of Finance announced yesterday, Tuesday, that it would begin disbursing salaries to public sector employees and workers in the Kurdistan Region for May, following the regional government’s commitment to hand over oil and non-oil revenues.

In contrast, the Kurdistan Regional Government’s Ministry of Finance and Economy announced earlier Tuesday that the Iraqi treasury’s share of non-oil revenues had been deposited into the federal Ministry of Finance’s bank account.

Last Wednesday, the Kurdistan Regional Government’s Council of Ministers approved a new agreement between the regional government and the federal government regarding salaries and financial benefits for public sector employees and workers in Kurdistan.

Shafaq.com

The Kurdistan Regional Government announces its commitment to the agreement signed with Baghdad and calls on the latter to comply.

The Kurdistan Regional Government (KRG) affirmed on Wednesday its commitment to the terms of the agreement signed with the federal government, called on the latter to adhere to it, and confirmed that it had submitted salary lists with complete transparency.

The regional government said in a statement received by Shafaq News Agency, “The Kurdistan Regional Government Council of Ministers held its meeting today, and the first part of the meeting was devoted to discussing the latest developments in the implementation of the recent agreement between the regional and federal governments, which was approved last week by the Council of Ministers of both sides, and related to salaries, financial dues for the region, oil exports, and the mechanisms for implementing the terms of the agreement by the ministries and relevant authorities in the two governments and the joint committees between them.”

She added, ” The Council of Ministers reiterated that the Kurdistan Region has fully complied with all its obligations stipulated in the agreement, as the Ministry of Finance and Economy in the region has deposited 120 billion dinars into the account of the federal Ministry of Finance, as agreed upon, in addition to sending the payrolls for the months of May and June, and continuing the joint audit work by the Ministries of Finance, in addition to follow-up by the Federal and Regional Boards of Financial Supervision regarding quarterly revenues and expenditures, as all data was presented with complete transparency.”

“ Regarding the oil file, the Ministry of Natural Resources in the region, through a joint committee, has provided all necessary facilities to the federal Ministry of Oil and SOMO to obtain data and conduct direct field visits to all oil fields in the region,” she continued, stressing that “the technical committee in the two ministries has reached a joint agreement on the mechanism for starting the export of the region’s oil through SOMO, based on the current production quantities, which have decreased due to the recent terrorist attacks with drones on the oil fields.”

She pointed out that “the Council of Ministers affirmed that these measures demonstrate the region’s full commitment to the agreement, and that the federal government must, in return, abide by what was agreed upon, particularly the dispatch of salaries and benefits to citizens in the region, which have not yet been dispatched. The region’s employees have been deprived of their salaries for three months, a constitutional and legal right that may not be violated under any circumstances, especially since the region has fully fulfilled its obligations.”

The Council expressed its “high appreciation for the region’s citizens’ responsible and understanding stance regarding the difficult financial circumstances, despite their suffering as a result of unconstitutional decisions. The Council affirmed its full commitment to protecting their rights and not relinquishing them, most notably securing salaries as soon as possible.”

The Council called on the media in Kurdistan to “perform their role professionally and responsibly in conveying information, not to become tools for spreading false news or distorting facts, and not to give space to those seeking to incite chaos and deprive employees of their rights.”

In the second part of the meeting, the Council of Ministers hosted a joint committee comprising representatives from: the Ministry of Planning/Standardization and Quality Control Authority, the Ministry of Finance and Economy/General Directorate of Customs, the Ministry of Trade and Industry/General Directorate of Industrial Development, and the Ministry of Interior. The committee reviewed the text of the agreement between the regional government and the federal government on establishing a mechanism for joint coordination and cooperation between the standardization and quality control authorities on both sides within the constitutional powers of each party. The agreement stipulates the approval of inspection certificates from both parties, unification of procedures between them, and that the standardization authority in the region be an equal party to its counterpart in the federal government.

She added, ” At the conclusion of the discussion, the Council expressed its gratitude to the members of the joint committee and the relevant ministries for their efforts, voted unanimously to approve the agreement, and instructed the relevant ministries to take the necessary measures to implement it within the framework of their constitutional powers and the laws in force in the Kurdistan Region.”

She noted that “this decision will contribute to facilitating inspection and quality control processes and eliminate obstacles that have hindered trade and commodity exchange between the region and the center, causing losses and repeated complaints from traders, investors, and factories on both sides.”

Shafaq.com

The Ministry of Planning announces the implementation of a tracking system for electrical goods and cigarettes.

The Ministry of Planning announced, today, Wednesday, the commencement of implementing the tracking system for electrical goods and cigarettes, as the Ministry stated, in a statement, that “the Central Organization for Standardization and Quality Control in the Ministry announces to all suppliers and importers of electrical goods and cigarettes to Iraq and the inspection companies licensed by the pre-inspection program in the country of origin and the companies authorized to inspect at border crossings on behalf of the agency, the commencement of implementing the decision of the Ministerial Council for the Economy No. (230339 Q) for the year 2023 (obligating importers and producers to work with the tracking system for all electrical goods and cigarettes as a first stage imported to Iraq and covered by the decisions of the Central Organization for Standardization and Quality Control (pre-inspection certificate and obtaining the Iraqi quality mark certificate in accordance with the applicable instructions and reinforced with a barcode (obtaining the Iraqi quality mark).

She also clarified that “this is effective from 9/15/2025, otherwise the entry of (electrical goods – cigarettes) that do not bear the Iraqi quality mark will be prohibited after the aforementioned period for goods that were not mentioned in Announcement No. 15 of 2024,” noting that “the decision is effective from 7/1/2024 for goods mentioned in the aforementioned announcement.”

Burathanews.com

Government meeting to activate Apple Pay in Iraq

A government source revealed, on Tuesday, that the committee concerned with activating Apple Pay services held a virtual meeting with the regional managers of Apple International to make the Apple Pay service available to users in Iraq with the aim of enhancing electronic payments. The source stated to the official agency, “As part of the Iraqi government’s efforts, and under the direct guidance and follow-up of Prime Minister Mohammed Shia Al-Sudani, to develop the electronic payment infrastructure and expand the use of modern technologies to contribute to enhancing financial inclusion and digital transformation, the committee concerned with activating Apple Pay services held a virtual meeting with the regional managers of Apple International to discuss the technical and administrative requirements necessary to launch the service in Iraq.”

He added that “the meeting was attended from the Iraqi side by Advisor to the Prime Minister and Chairman of the Committee for Activating Electronic Payment Services, Saleh Mahoud Salman, Director General of Electronic Payment Systems at the Central Bank of Iraq, Adnan Asaad, and Director of Information Technology at the Communications and Media Commission, Mohammed Al-Gharbawi.” He pointed out that “from the Apple side, the meeting was attended by Omar Al-Rifai, Director of Government Affairs for Apple Pay Services in the Middle East and Pakistan, Mike Powell, Director of Apple Pay Services in Europe, the Middle East, India and Africa, Adham Fahmin, Director of Legal Affairs for Apple Pay Services in Europe, the Middle East, India and Africa, Prince Zander, and a legal expert for Apple Services, Sam Butcher.”

The source also explained that “the meeting reviewed the roadmap and technical and administrative requirements necessary to activate the service in Iraq, and discussed the mechanisms for its integration with the national electronic payment system, in addition to answering relevant technical inquiries.” He pointed out that “at the end of the meeting, it was agreed to hold a follow-up meeting within the next two weeks to complete the technical and operational preparations, leading to achieving the desired goal of making the Apple Pay service available to users in Iraq, in line with the government’s program to develop the electronic payments sector and support the transition to a digital economy.”

Burathanews.com

Parliament crisis ends with a “fraternal reconciliation” between Al-Mashhadani and Al-Mandlawi.

A parliamentary source reported on Tuesday that a reconciliation had taken place between Parliament Speaker Mahmoud al-Mashhadani and his deputy, Mohsen al-Mandalawi, following the altercation that occurred between them during yesterday’s parliamentary session.

A source told Shafaq News Agency, “Deputy Speaker of Parliament Shakhwan Abdullah held a fraternal meeting between Speaker of Parliament Mahmoud Al-Mashhadani and First Deputy Speaker Mohsen Al-Mandalawi. During the meeting, an agreement was reached to address the problems that occurred in yesterday’s session, Monday, and to continue cooperation and ensure the work of Parliament continues and sessions are held.”

He added, “The attendees agreed to resume the sessions and hold a session on Wednesday or Thursday of this week.”

On Monday, a parliamentary source revealed that a verbal altercation broke out inside the House of Representatives between Parliament Speaker Mahmoud al-Mashhadani, First Deputy Speaker Mohsen al-Mandalawi, and a number of Coordination Framework MPs, leading to the postponement of today’s session.

The source told Shafaq News Agency that the dispute erupted over Al-Mashhadani’s recent statements regarding the political process and elections.

Prior to that, al-Mashhadani said in a televised interview that Iraq was set to witness demonstrations next month, and that we might resort to an “emergency government” if security turmoil occurred in Iraq. He also confirmed that the United States had sent messages to all political leaders regarding the Popular Mobilization Forces (PMF), indicating that the US approach sought to integrate the PMF into the security forces, not restructure it.

Shafaq.com

Sunni blocs meet tonight to issue a position on what happened inside Al-Mashhadani’s office.

A political source reported on Monday that Sunni bloc MPs will meet tonight to issue a position on the disagreement between the parliament speaker and his deputy.

The source told Shafaq News Agency, “The Sunni blocs’ representatives will meet tonight to issue a position on the events that took place inside the Speaker of Parliament’s office.”

He added, “The origins of the incident date back to a verbal altercation over the phone between Parliament Speaker Mahmoud al-Mashhadani and his deputy, Mohsen al-Mandalawi. The latter arrived at al-Mashhadani’s office to continue the argument over statements regarding the Popular Mobilization Forces retirement law and other issues.”

Earlier on Monday, a parliamentary source revealed that a verbal altercation broke out inside the House of Representatives between Parliament Speaker Mahmoud al-Mashhadani, First Deputy Speaker Mohsen al-Mandalawi, and a number of Coordination Framework MPs, leading to the postponement of today’s session.

The source told Shafaq News Agency that the dispute erupted over Al-Mashhadani’s recent statements regarding the political process and elections.

Prior to that, al-Mashhadani said in a televised interview on Dijlah TV that Iraq was set to witness demonstrations next month, and that we might resort to an “emergency government” if security turmoil occurred in Iraq. He also confirmed that the United States had sent messages to all political leaders regarding the Popular Mobilization Forces (PMF), indicating that the US approach sought to integrate the PMF into the security forces, not restructure it.

Independent MP Alaa Al-Haidari told Shafaq News Agency, “The suspicious statements issued by Parliament Speaker Mahmoud Al-Mashhadani, who represents the highest authority in the Iraqi state and has made multiple media appearances, constitute a failure on his part.”

He added: “We demanded that the Speaker of the Council offer a public apology to the Iraqi people for insulting the Iraqi identity, which is more than 5,000 years old. This identity has been tainted by the blood of Imam Hussein and the martyrs. We will not accept insults to this identity. Al-Mashhadani must immediately apologize to the Iraqi people. If he does not, we will collect signatures to remove him from his position.”

Shafaq.com