Minister of Finance: We are continuing to prepare the draft 2027 budget law in preparation for submitting it to the Cabinet.

[RJG]

Minister of Finance: We are continuing to prepare the draft 2027 budget law in preparation for submitting it to the Cabinet.

Tuesday, July 7, 2026, 19:45|Economic|Number of views: 471

Baghdad ( NINA ) – Finance Minister Faleh al-Sari confirmed on Tuesday that the ministry is continuing to prepare the draft federal budget law for 2027, in preparation for submitting it to the Council of Ministers and then referring it to the Council of Representatives in the coming period.

A ministry statement indicated that "the Parliamentary Finance Committee, chaired by MP Uday Awad and attended by its members and a number of members of other parliamentary committees, hosted Finance Minister Faleh al-Sari and senior ministry officials today to discuss the financial and economic situation and the mechanisms for preparing the draft federal budget for 2027."

The statement added that "at the beginning of the meeting, the committee chairman welcomed the Finance Minister and senior officials, emphasizing the importance of strengthening cooperation and coordination between the legislative and executive branches to ensure the integration of roles in legislation and oversight, and to contribute to improving institutional performance."

The head of the Finance Committee affirmed, according to the statement, that "the committee is committed to supporting and enacting laws that contribute to addressing financial challenges, developing non-oil resources, and enhancing the state's financial sustainability.

" The statement continued, "During a meeting held at its headquarters, the Finance Committee listened to a detailed explanation of the country's financial and economic situation, with an emphasis on implementing appropriate solutions through legislation that ensures economic stability."

The Minister of Finance praised the Finance Committee's role in preparing the general budgets and exercising its oversight function, as well as its contribution to enacting laws related to financial and economic affairs.

He explained that "the ministry has set a number of priorities, foremost among them the automation of the ministry's operations, the establishment of a specialized body, and the adoption of a gradual transition from line-item budgeting to program-based budgeting."

Al-Sari indicated that "the 2027 budget proposal includes a phased plan for implementing program and performance-based budgeting, starting with a number of governorates as a pilot program, to be gradually expanded to include all of Iraq's governorates."

He reviewed the ministry's plan to repay public debt by reorganizing dealings with banks affiliated with the ministry, which will contribute to reducing the debt burden, enhancing financial stability, and supporting

The statement continued, "The meeting discussed mechanisms for maximizing public revenues and activating the ASYCUDA system, which contributes to raising the efficiency of customs administration and increasing state resources. It also explored the possibility of amending several related laws and working to establish a development fund and an energy fund to boost revenues and support the public treasury." The

meeting concluded with extensive discussions among committee members regarding financial and economic matters, emphasizing the importance of adopting solutions and procedures that achieve the public interest and enhance financial and economic stability in the country, in addition to finding appropriate solutions for the issue of contracts and daily wages. /End 8. https://ninanews.com/website/News/Details?key=1304720

 

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The parliamentary finance committee discusses with the Minister of Finance the program and performance budget, and the first steps include the electricity sector and two governorates.

July 7, 2026Last updated: July 7, 2026

Independent / Ali Al-Nasrallah /… Dr. Ghufran Iqbal Al-Shammari, a member of the Parliamentary Finance Committee representing the holy city of Karbala, announced today, Tuesday, her participation in the expanded meeting held by the committee, chaired by Uday Awad Al-Hussein and attended by its members, with Finance Minister Faleh Al-Sari and his accompanying delegation.

Al-Shammari said in a press statement to (Al-Mustaqilla) that “this meeting comes within the framework of early coordination between the House of Representatives, the Ministry of Finance, and the World Bank to prepare the next general budget project.”

Al-Shammari explained that “the first phase of implementing the ‘programs and performance budget’ will focus on the vital electricity sector and two specific governorates, with the intention of gradually expanding it to include all state institutions over the next three years.”

 

She added, “It was chosen because of the huge sums that this sector has spent over the past years without achieving the desired results, which necessitates adopting this system to ensure that spending is directed towards sustainable solutions and tangible and measurable results.”

She explained that “the selection of the governorates of Diwaniyah and Salah al-Din came about because of their urgent need to get the wheel of service and development projects moving, and to redirect financial resources according to the actual priorities on the ground.”

Al-Shammari confirmed that “the Minister of Finance presented to the committee a comprehensive picture of the current financial situation, the procedures followed to fulfill the state’s financial obligations, in addition to the ongoing efforts to maximize non-oil revenues in a way that ensures the sustainability of funding for projects and basic services provided to citizens.”

She noted that “the meeting witnessed a great consensus of views on the priorities of financial reform, with emphasis on the importance of continued joint coordination between the executive and legislative authorities to ensure the success of the upcoming budget project and to achieve the desired goals in financial and administrative reform.”

https://mustaqila.com/المالية-النيابية-تبحث-مع-وزير-المالية/

[WheresmyRV?]

And one year from now they will still be arguing over budget numbers for the 2027 budget.

[Half Crazy Runner]

Maybe they need a law that says if the members can’t agree on a budget by a certain date they all lose their jobs.