Iraqi Parliament Finance Committee Highlights Budgetary Trends for 2025
A member of the Finance Committee of the Iraqi Parliament has indicated that the budget for 2025 is projected to be lower than that of the past two years due to anticipated real deficits.
Jamal Kochar, a representative on the Finance Committee, stated that while the 2025 budget is expected to be less than in previous years, it should not fall below 120 trillion dinars, which he considers a stable baseline.
For context, the 2023 budget exceeded 199 trillion dinars, and the budget for 2024 has surpassed 211 trillion dinars.
Kochar elaborated that the deficit for the upcoming budget year is estimated in line with the figures for both 2023 and 2024; however, this year marks the final year of the current budget law, and the deficit is expected to be substantial.
Specifically, the budget deficit for 2024 has reached over 84 trillion dinars, which represents an increase of 20 trillion dinars compared to previous estimates.
From the 211 trillion dinars projected in budget expenditures for 2024, approximately 136 trillion dinars have already been disbursed as of November.
Kochar emphasized the importance of timeliness in budget approval processes, noting, “The time has not been delayed. Last year, the schedules were sent and approved in May.”
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