The Parliamentary Finance Committee announced the commencement of preparing and drafting the 2027 federal budget in cooperation and coordination with the government, aiming to ensure financial stability and determine exchange rates and the price of a barrel of oil. At the same time, it revealed a joint agreement to present the "Grants and Borrowing Law" for its first reading in the House of Representatives during the coming week.
Committee member Ikhlas Al-Dulaimi explained that the Ministry of Finance has already begun drafting the 2027 budget strategy with the participation of the Finance Committee, several ministries, and representatives of the Kurdistan Region. She pointed out that there is a consensus with the Prime Minister on the need to expedite sending the budget and passing it in parliament, to meet the country's urgent need for financial stability that clearly defines export and operational mechanisms.
In accordance with the provisions of the Financial Management Law, the committee emphasized the necessity for the budget draft to reach parliament by October 15th to be approved for the coming year. It expressed hope that the new budget will include radical solutions to the crisis regarding employee promotions and bonuses.
Regarding the issue of making contract workers permanent, the committee clarified that this file was not raised during the current discussions with the government and the Ministry of Finance. It attributed this to the difficult financial challenges the country is experiencing as a result of the halt in oil exports, which reduces the likelihood of the state entering into new financial obligations concerning this matter at the present time.
