Economic expert Nadim Issa warned on Saturday that Iraq should not move forward with preparing and approving the 2027 budget without first completing the final accounts for previous years. He said it makes no sense to plan a new budget without knowing exactly how much money the government earned, spent, or still owes.
Issa explained that the Iraqi Constitution requires the government to submit final accounts in September for parliament to review and approve before sending the budget schedules. He stressed that these records are especially important because Iraq has been working under a three-year budget system.
He called on parliament not to approve the 2027 budget until the missing financial accounts are submitted. He said this is necessary to protect public money and prevent the misuse of government funds.
Issa also argued that ordinary citizens should not be forced to pay for the government’s financial problems. He said people are not responsible for corruption or wasteful spending, yet they continue to face higher taxes and fees without receiving proper basic services in return.
He also raised concerns about the impact of war and rising tensions in the region on Iraq’s budget. He warned that if a war breaks out, oil exports could stop completely. In that situation, setting the oil price at $58 per barrel would not help if Iraq had no way to export its oil.
Issa added that building alternative oil pipelines through Saudi Arabia, Syria, or Jordan could take around four years. He questioned how the government could prepare a reliable budget without knowing whether it would be able to generate its expected oil revenues.
He also criticized the government for collecting taxes and fees from multiple sources while controlling the country’s oil wealth. He pointed to charges for water, electricity, passports, national ID cards, and vehicle license plates, saying people are paying more without seeing better services.
Issa concluded that Iraq cannot build a stable economy by simply increasing taxes and fees. He said the government must first control public spending, stop corruption, and prevent financial waste. Otherwise, the country’s financial problems will continue and become a burden for future generations.