Article: "The committee maintains its target to finish writing the draft law by September 15 for submission to the Council of Ministers."
It is my opinion that Iraq will need a new Real Effective Exchange Rate prior to passing the budget and HCL.
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🇮🇶 IRAQ: THE TIMELINE IS GETTING VERY INTERESTING
A new article states:
“The committee maintains its target to finish writing the draft law by September 15 for submission to the Council of Ministers.”
That September 15 target is important because it shows that the government is continuing to move forward with the legislative process rather than leaving the issue in the discussion stage.
In my opinion, this raises another important question:
💡 Will Iraq need to establish a new Real Effective Exchange Rate (REER) before the 2027 budget and the HCL can be fully finalized?
The reason this matters is that the exchange rate is not just a currency-market issue. It affects the broader economic framework — government revenues, imports, exports, purchasing power, fiscal planning and the valuation of Iraq’s oil revenues.
If Iraq is preparing major legislation, finalizing the budget and simultaneously working toward a long-term hydrocarbons framework, having a clear and sustainable exchange-rate framework becomes increasingly important.
The sequence could therefore become very interesting:
Legislation → Council of Ministers → Parliament → Budget/HCL → Exchange-rate framework
Or potentially, depending on how the government structures the process:
Exchange-rate adjustment → Budget/HCL → broader economic reforms
⚠️ This is my interpretation, not a confirmation that a revaluation or redenomination has been approved.
But the fact that Iraq is pushing legislation forward on a defined timeline, while major economic and fiscal reforms remain on the table, makes the next few weeks particularly important.
🇮🇶 The question is no longer simply whether Iraq is discussing reforms — it is about the sequence in which those reforms will be implemented.
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