PARLIAMENT PREEMPTS THE DECISION ON THE PRIME MINISTERIAL CANDIDATE… RASHID: THERE WILL BE NO BUDGET FOR THE CURRENT YEAR, 2026
The Iraqi Parliament has settled the debate regarding the fate of the draft federal budget law for the current year, 2026, amidst the ongoing crisis surrounding the nomination of a candidate for the position of Prime Minister, a matter on which political and parliamentary circles are still awaiting a resolution.
MP Ahmed Hama Rashid stated to the Iraqi National News Agency ( NINA ),
“There is no budget for the current year, 2026, because the draft budget law must be prepared by mid-May 2025. Therefore, there will be no budget law for the current year.”
He explained, “Financial statements will be issued by the Ministry of Finance and sent to the Federal Board of Supreme Audit, and then approved by Parliament later.” He added,
“The amended Federal Financial Management Law No. 6 of 2019 addresses this situation to facilitate the annual budget by disbursing expenditures at a rate of 1/12 of all expenditures included in the previous budget. This is a legal procedure that is in practice and adopted by Iraqi state institutions.”
Regarding the approval of the final accounts, Rashid explained that “these accounts will be based on official financial statements sent to the Federal Board of Supreme Audit, for preparation, auditing, and reconciliation.”