Iraq's Finance Ministry begins drafting 2027 federal budget, adviser says

BAGHDAD, Iraq — Iraq's Finance Ministry has begun drafting the 2027 federal general budget, the prime minister's financial adviser, Mazhar Mohammed Salih, said. The work started in July, with the draft expected to be completed in September, Salih said. Under the planned process, the draft will first be reviewed by the Council of Ministers' Economic Council, then submitted to the full cabinet for approval before being sent to the Iraqi parliament, Salih said. He added that the budget's total size will be determined once the draft is finalized. The move comes after a two-year gap during which Iraq failed to approve federal budgets for 2025 and 2026, with the government instead operating on a monthly spending ratio of one-twelfth to cover salaries and mandatory expenditures.