Jamal Kojar, a member of the Iraqi Parliament’s Finance Committee, confirmed on Monday that drafting the 2026 federal budget is feasible, but its final approval may not come until the middle of next year.
Speaking to dinaropinions.com, Kojar explained that the government will rely on the Financial Management Law at the start of 2026, applying the 1/12 spending rule based on the 2023 budget. He noted that the 2023 figures continue to serve as the core reference point for government expenditures.
Kojar clarified that while the 2024 budget schedules and oil price assumptions were constructed using the 2023 budget as a foundation, they did not constitute a fully independent spending plan.
“The 2023 budget was the actual financial basis, while the disbursement mechanism in 2024 was merely a set of schedules subordinate to it,” he stated.
His remarks come as Iraq continues discussions on the country’s fiscal strategy for the coming years. With the government still relying heavily on 2023 allocations for day-to-day spending, many observers are watching closely for signs of when the formal preparation of the 2026 budget will begin — and how it will be financed.
