Baghdad:The Parliamentary Finance Committee held a joint meeting with Federal Finance Minister Faleh Al-Sari to discuss the draft Federal General Budget Law for the 2027 fiscal year.

According to National Iraqi News Agency, the committee and the minister examined the budget allocation mechanisms and the distribution of financial resources between the line-item budgeting system and the program-and-performance budgeting system. Initial implementation of the program-and-performance budgeting in several provinces and government institutions was reviewed as a preliminary phase towards expanding the system nationwide.

The meeting also focused on digital transformation, emphasizing the shift from paper-based to electronic systems. Discussions included strategies to maximize state revenues, diversify income sources to reduce oil dependency, and manage the budget deficit. Efforts to curtail expenditures were addressed, alongside discussions on the banking sector and maintaining the Iraqi dinar’s exchange rate stability against the US dollar.