The fixed date for sending the budget to the House of Representatives does not inspire much optimism, especially with regional tensions and rapidly changing events that cannot be predicted, although Iraqis are waiting for the budget law to serve many segments, foremost among them the employees who are still anticipating the release of delayed allowances and promotions, as well as contractors, project owners, and farmers who are waiting to receive their dues.
While observers see that Iraq's continued reliance on oil revenues does not benefit the Iraqi economy, the importance of increasing non-oil revenues is emphasized in order to alleviate the pressure caused by the tensions and the war imposed by the U.S. and its Zionist entity in the region on Iran and its repercussions on the regional situation.
MP Mohammed Al-Moussawi, in a press interview reviewed by "Video News Agency," stated that "the scheduled date for sending the federal budget to Parliament remains fixed for the set date in October," pointing out that "the relevant authorities are continuing to finalize the financial data related to the law according to the established timelines."
He added that "the discussion about delaying the sending of the law is inaccurate, and there are currently no data or official indicators suggesting the possibility of postponing the sending date," noting that "the House of Representatives is awaiting the law for discussion and approval."
Al-Moussawi stressed the "importance of the government's adherence to the specified date to enable the relevant parliamentary committees to study the budget items and vote on them without delay."
For his part, the financial advisor to the Prime Minister, Muthar Mohammed Saleh, in a press interview reviewed by "Video News Agency," confirmed that "any shocks or crises that the global economy faces from abroad directly affect the Iraqi economy, due to the high level of dependence on oil as the main source of public revenues."
He added that "one of the main exits to avoid the repercussions of global economic crises lies in diversifying the economy and sources of financial revenues," affirming the "need to gradually transition towards a more diversified economy with less reliance on oil."
Saleh pointed out that "Iraq should work over the next ten years to raise the share of non-oil revenues to about 45 percent of total budget revenues, which will enhance financial stability and reduce the economy's sensitivity to fluctuations in oil prices."
He emphasized that "supporting the public budget requires diversifying funding and revenue sources, alongside enhancing productive sectors, foremost among them agriculture and industry, which contributes to building a more sustainable economy capable of facing crises."
In a related context, economic expert Dr. Safwan Qusai, in a press interview reviewed by "Video News Agency," stated that "the 2026 budget will be replaced by the internal and external borrowing law, as well as grants and donations, while efforts are underway to prepare the 2027 budget in order to define a clear path for public spending and funding sources."
He added that "there are multiple assumptions regarding the budget for the coming year, as everyone hopes that the existing disputes and tensions in the region related to the Strait of Hormuz will be resolved before October 15, given that Iraq relies on oil revenues obtained from southern outlets by 90 percent."
He concluded that "if the tensions continue and the problem remains unresolved, Iraq will head towards spending governed by permanent laws, necessitating support for the revenues of governmental units so they can finance themselves away from the Ministry of Finance."