Iraqi Government Budget Update: Vice-Chairman Insights
The Vice-Chairman of the Parliamentary Finance Committee, Ikhlas Al-Dulaimi, has indicated that the Iraqi government will not submit the budget schedules in the next two months. She confirmed that the 2025 budget is set at 216 trillion Iraqi dinars.
In discussions regarding the budget’s timeline, Al-Dulaimi stated that the Ministry of Finance has yet to present the 2025 budget schedules to the Council of Ministers. These schedules were initially expected to be submitted in October 2024, as per the Financial Management Law, allowing for legislative approval ahead of the new fiscal year.
Al-Dulaimi elaborated that while the total budget stands at 216 trillion dinars, actual spending is projected at approximately 160 trillion dinars. She emphasized that the tables will not be forwarded to the House of Representatives in the upcoming two months due to the Ministry of Finance’s incomplete preparations. This delay also suggests that budget approval may coincide with pre-election dynamics.
In February, the Iraqi Council of Representatives voted on an amendment concerning the federal general budget for the Republic of Iraq, covering the fiscal years 2023, 2024, and 2025, under Law No. 13 of 2023.
As the budget processes unfold, stakeholders will be closely monitoring developments that could significantly impact the country’s economic landscape in the months ahead.
