In a rare departure from Iraq’s chronic budget delays, the draft 2027 Federal Budget Law has been prepared ahead of the statutory timetable and referred to cabinet for approval.
In this episode, we examine how the government managed to prepare the budget ahead of schedule and whether this could mark a break from the recurring cycle of delays that has plagued previous budgets. We also discuss what we can expect from the draft, including the likely level of expenditure, oil revenue assumptions, and how the government plans to finance the deficit. Finally, we look ahead to parliament and the likely sequencing of the legislative agenda that could eventually lead to the budget’s approval.