Baghdad:The Parliamentary Finance Committee has shared insights about the draft 2027 federal general budget law, which the Council of Representatives is set to receive from the government in the middle of the month.

According to the National Iraqi News Agency, Committee Deputy Chair Ikhlas al-Dulaimi highlighted that the Minister of Finance informed the committee about significant changes in the 2027 budget compared to previous ones. Notably, the budget aims to enhance revenues through automation systems and customs, with customs revenues now reaching 4 trillion dinars annually, a substantial increase from the past.

The proposed general budget is expected to be around 217 trillion dinars, featuring a fiscal deficit of 45 trillion dinars. It plans to create 100,000 job positions, divided equally between graduates and degree holders, and security forces. These positions are to be allocated based on established criteria through the Federal Public Service Council.

The Finance Minister has directed ministries and governorates to complete sewage project certifications to release financial allocations and ensure monthly payments for farmers.

The budget also addresses the status of contract and daily-wage employees, aiming to convert 500,000 contract employees, including those from the Ministry of Interior, to permanent staff. Additionally, the government has tasked the Parliament with resolving the status of 49,360 daily-wage employees, with a unanimous push towards granting them permanent employment.

Regarding the dinar-to-dollar exchange rate, the draft budget law has not set an official rate. There is significant opposition within Parliament against increasing the exchange rate, due to the potential financial burden on the treasury for compensation payments related to projects and contracts.