Iraq’s 2026 budget remains uncertain, with no official date yet set for its submission to parliament, according to MP Mohammed al-Bayati, who warned that it could be the most challenging budget the country has faced in years.
Al-Bayati said the Council of Ministers has not yet determined when the budget will be finalized and sent to the Finance Committee in the House of Representatives. Once submitted, it will still need to go through review, parliamentary readings, and a final vote before becoming law.
He described the upcoming budget as the most difficult and complex compared to previous years, pointing to growing financial and economic pressures as well as the impact of ongoing developments in the Arabian Gulf region.
According to al-Bayati, Iraq is facing serious challenges because crude oil remains the main source of government revenue. He noted that the country’s ability to export oil has been significantly affected, putting additional pressure on public finances and creating concerns about future revenues.
The lawmaker said both the government and parliament are waiting for a financial and economic reform roadmap that is currently being prepared. The plan is expected to focus on correcting long-standing financial issues and creating policies that can secure essential government spending, especially employee salaries, during the coming period.
Al-Bayati stressed that although the Ministry of Finance continues to assure citizens that salaries are secure, the current situation requires practical and effective measures to strengthen financial stability and protect the country’s economy from future shocks.
The comments highlight the difficult balancing act facing Iraqi policymakers as they work to prepare the 2026 budget while managing economic uncertainty and maintaining critical public services.
