[93287] Iraqi Government: 2027 Budget to be Presented in October Alongside Measures to Review Mega-Contracts

Economic Updates from the Iraqi Government

In a series of official announcements, the Iraqi government spokesperson, Haider Al-Aboudi, declared that the staff work on the 2027 state budget is underway, and the draft will be ready for submission to the Iraqi Parliament this coming October. The report was published simultaneously by several major media outlets, including واحد العراق, جريدة الصباح العراقية, and وكالة بغداد اليوم الاخبارية.

In addition to the budget schedule, the وكالة الأنباء العراقية (واع) detailed the current economic policy of the government. Al-Aboudi emphasized that the government is conducting "تدقيق ومراجعة كل العقود خلال الفترة الماضية" (an audit and review of all contracts from the recent period). Within this framework, it was decided to "إيقاف عدد من المشاريع المتلكئة" (halt a number of failed projects) whose funding crossed the 50% threshold, for companies that do not possess standard incorporation documents.

On the macroeconomic level, the spokesperson sought to allay concerns regarding national debt. According to the وكالة الأنباء العراقية (واع), the government emphasizes that "الدولة العراقية لا تتبنى الاقتراض الخارجي" (the Iraqi state does not adopt external borrowing) and that Iraq "ليس دولة فقيرة" (is not a poor country). The government claims that it has many solutions for the economic situation and that there are "مؤشرات تعافي" (signs of recovery) in the local economy.