Budget 2027 forecasts oil at $60-$70 and a 64T deficit

The 2027 budget anticipates that the price of oil will range between $60 and $70 per barrel, with a potential fiscal deficit estimated at 64 trillion Iraqi dinars, resulting from declining oil prices and limited export quantities. The government will rely on revenue estimates based on this price range and plans to present the budget draft to the Parliament after completion, with the possibility of issuing a supplementary budget if regional conditions improve. The budget will feature an expanded implementation of the "Program and Performance Budget" system in some ministries, along with approximately 20 trillion dinars allocated for the completion of suspended projects. No new investment projects will be included.

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