Economics Cabinet approves draft budget

The Cabinet Council of Economy approved the federal budget proposal for 2027 and referred it to the Council of Ministers for review and final suggestions. The budget proposal includes a plan to develop six exploration areas for oil, import a new shipment of 30,000 tons of gasoline, and implement improvements in the electricity sector, with reports indicating that 41% of Iraq’s electricity is outside government generation. The project also discusses including provisions to regularize contracts and employees, as well as to hire graduates. Its goal is to achieve comprehensive financial and economic stability for the upcoming year.

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