Details of Iraq’s 2025 Budget Unveiled: A Focus on Operational and Investment Expenditures
The Prime Minister’s Financial Adviser, Mazhar Muhammad Saleh, has disclosed comprehensive details regarding the 2025 budget framework. The total budget is projected at 200 trillion Iraqi dinars, reflecting a theoretical deficit of 64 trillion dinars.
Budget Breakdown
According to Saleh, the budget’s structure encompasses two primary components. The first is the operational segment, which constitutes approximately 68% to 70% of total public expenditure. This portion is designated for salaries, pensions, and social welfare programs. The second component is focused on investment, earmarked for development and service projects.
Saleh elaborated that the budget operates on exchange ceilings estimated at around 200 trillion dinars, with the projected deficit amounting to 64 trillion dinars. This deficit is anticipated to be financed from internal sources, assuming a medium oil price of $70 per barrel and oil export levels maintained at 3.4 million barrels per day.
Government Commitment to Social Services
The adviser emphasized the government’s unwavering commitment to securing salaries for both employees and retirees. Approximately 8 million citizens directly benefit from government income, which, in turn, supports an estimated 40 million individuals indirectly. He highlighted that the execution of essential service projects, including water supply, electricity, educational institutions, and healthcare facilities, will be a parallel priority alongside salary disbursements.
Legislative Review of the Budget
The Parliamentary Financial Committee has confirmed that deliberations regarding the 2025 budget will commence upon its formal submission to Parliament. Committee member Jamal Koger stated that a meeting will be convened to discuss the budget, followed by the preparation of a report for the Parliament’s presidency.
Conclusion
The 2025 budget proposal outlines a significant fiscal framework for Iraq, emphasizing essential expenditures for public welfare while addressing the pressing issue of the deficit. As the budget undergoes parliamentary scrutiny, the commitment to social programs and developmental initiatives will be closely monitored by stakeholders and citizens alike.
