, FRANK26: "WHAT ARE THEY GOING TO SAY... THE NEW EXCHANGE RATE IS NOT OUT YET." 2 APRIL

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FRANK26: "WHAT ARE THEY GOING TO SAY... THE NEW EXCHANGE RATE IS NOT OUT YET.".......F26

 

budget tables: approximately 200 trillion dinars, with a deficit exceeding 64 trillion dinars.

3/30/2025

 

Iraq's 2025 budget tables have been sent to the Council of Ministers, with estimates indicating that the budget will range between 180 and 200 trillion dinars, while the deficit could exceed 64 trillion dinars, according to members of the Iraqi parliament's Finance Committee.

 

Jamal Kocher, a member of the Iraqi parliament's Finance Committee, told Rudaw Media Network that the 2025 budget schedule "was briefly discussed during a meeting between Planning Minister Mohammed Tamim and the Finance Committee, where the budget was one of the issues raised."

 

Iraqi state media reported that the 2025 budget could reach 200 trillion dinars, with a projected deficit of 64 trillion dinars. However, Jamal Kocher estimated the budget size to be "around 180 trillion dinars."

 

Iraq's 2023 budget amounted to approximately 198.9 trillion dinars, with a deficit of 65 trillion dinars, while the 2024 budget reached 211.8 trillion dinars, with a deficit of 84 trillion dinars.

 

"cash shortage"

 

For his part, Mohammed Khazaei, a member of the Iraqi parliament's Finance Committee, explained to Rudaw Media Network that "the preparation of the 2025 budget schedule is being coordinated between the Ministries of Finance and Planning, but the delay is linked to the problem of a cash shortage."

 

Iraq exports approximately 100 million barrels of oil per month, and its price fluctuates from month to month. Last year, it ranged between $68 and $72.

 

During the first 11 months of 2024, oil revenues reached 119 trillion dinars, at a monthly rate of approximately 10 trillion dinars, while a fixed amount of 7.5 trillion dinars is allocated to pay salaries.

 

With spending increasing and revenues declining, the Ministerial Council for the Economy adopted an austerity policy in some areas.

 

According to a document obtained by Rudaw Media Network, the Iraqi Economic Ministerial Council submitted five recommendations to the General Secretariat of the Council of Ministers on February 2, 2025, to address the financial crisis in light of the government's commitments.

 

Among these recommendations: "Not entering into new commitments until the Ministries of Planning and Finance approve the availability of financial allocations."

 

Also: “Stop including any public company project in the state’s general budget, except for exceptional and governing cases by decision of the Council of Ministers.”

 

The recommendations also called on ministries to "propose possible solutions to complete ongoing projects listed for companies, whether through their own revenues or by referral to the private sector for partnership."

 

During his meeting with the Iraqi Parliament's Finance Committee on March 26, 2025, Planning Minister Mohammed Tamim confirmed that "the 2025 budget will not include any new investment projects, but will only include funding for ongoing projects."

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