Baghdad: Newspapers in Baghdad are spotlighting significant developments concerning the preparation of the 2027 budget and legislative efforts towards enacting a “Preventive Oversight” law. According to National Iraqi News Agency, Al-Zawraa newspaper, published by the Iraqi Journalists Syndicate, reported that the Parliamentary Finance Committee engaged in discussions with the Budget Department in the Ministry of Finance regarding the mechanisms for crafting the 2027 budget.
A statement from the committee indicated that a meeting took place on July 26, 2026, at its headquarters, with the participation of the Director General of the Budget Department and senior officials from the Budget Preparation and Accounting sections. The discussions centered on the structure of the state’s general budget, management of public funds, and reform steps for the 2027 budget. The Chairman of the Finance Committee underscored the necessity of maximizing public revenues, enhancing budgetary resources, and diminishing reliance on oil revenues. Additionally, there was a focus on improving budget preparation techniques to ensure precise revenue and expenditure projections.
The Director General of the Budget Department outlined the budget preparation mechanism, noting the Ministry of Finance’s ongoing financial reform and gradual shift to a program and performance budget, while still employing line-item budgeting. This dual approach aims to maintain continuity in the budget process without disrupting accounting classifications. The 2027 budget will feature a mandatory annex for planning, measurement, and prioritization, and will separate operational and investment budgets, linking spending to projects and programs through structured schedules.
Meanwhile, Al-Sabah newspaper, associated with the Iraqi Media Network, highlighted Parliament’s efforts to legislate a “Preventive Oversight” law. The publication noted that the House of Representatives is implementing a new strategy focused on preemptive safeguarding, marking a shift from subsequent accountability. This legislative move aims to curb waste and create a secure administrative and financial environment to prevent the misappropriation of public funds.
Al-Sabah also reported the recovery of 27 billion dinars hidden by individuals connected to the suspended Deputy Minister of Oil for Refining Affairs, Adnan al-Jumaili. The Central Anti-Corruption Criminal Court judge confirmed that the funds were recovered after a thorough investigation into projects linked to the accused. The newspaper further mentioned that parliamentary committees have initiated steps to legislate the “preventive oversight” law, aiming to build a preventive oversight system that addresses administrative deficiencies and integrates various oversight bodies without overlapping powers.
Additionally, Al-Zaman newspaper focused on Prime Minister Ali Falih al-Zaidi’s forthcoming visit to Turkey. The newspaper revealed that al-Zaidi is scheduled to visit Ankara to discuss security, economic, and investment cooperation, as well as coordinate on oil and energy issues. The visit follows negotiations by an Iraqi oil delegation in Turkey to establish a mechanism for exporting Iraqi oil through Turkish ports, aiming to secure alternative export routes for Iraq’s oil.