Iraq’s Ministry of Finance is expected to submit the draft 2027 federal budget to Parliament on October 15, in line with the timetable set out under the Financial Management Law.
Parliament’s Finance Committee member Jamal Koger said the committee had been informed of the planned submission date, while discussions are still underway over the benchmark oil price, with proposals ranging from $50 to $65 per barrel.
SOMO has proposed setting the budget oil price at $55 per barrel, while the government is considering higher figures and could settle on a price between $60 and $65 as a compromise.
On employment, Koger said the government has pledged to place contract workers on permanent staff and address the appointment of long-term graduates, stressing that the country’s financial capacity will determine the implementation of those commitments.
Parliament Speaker Hibet Al-Halbousi, meanwhile, said the 2027 budget would include provisions to formalize contract workers across government ministries and institutions.
