Iraq Parliament Finance Commission Says 2026 Budget Approval Unlikely

BAGHDAD, Iraq — Iraq's Parliament Finance Commission said Monday that approval of the 2026 budget is unlikely under current conditions, as the government focuses on completing its cabinet and addressing pressing economic concerns. Commission member Rewwar Karim said the government is working to finalize its program and cabinet, making salary guarantees and economic problem-solving the immediate priorities. Karim indicated the 2026 budget will most likely not pass this year, with attention shifting to examining the 2027 budget instead. Salaries will be protected, Karim said, noting the government has the capacity to cover any budget deficit through domestic or external borrowing and support from the Central Bank. He added that implementing a new customs tariff law and the ASYCUDA system will help diversify revenue sources. The commission said a temporary law similar to the Security Food Law is not under consideration unless the government formally requests it.