Baghdad, Iraq- Iraqi lawmakers are expecting the 2025 budget tables to be presented to Parliament by the end of March, according to an announcement from MP Ibtisam Al-Hilali. Al-Hilali, a member of the Shiite Coordination Framework (CF), confirmed that the Ministry of Finance plans to send the budget tables to the Cabinet next week for discussion and approval.
Once reviewed by the Cabinet, the budget tables will be forwarded to the Iraqi Parliament before the end of this month. Al-Hilali further explained that the overall budget amount and the deficit percentage in the 2025 budget are expected to be similar to those in the previous year. However, these figures will be confirmed once the tables reach Parliament.
In June 2023, the Iraqi Parliament approved the draft General Budget Law for fiscal years 2023, 2024, and 2025. Yet, the 2025 budget has not been finalized due to ongoing disagreements between the federal government and the Kurdistan Regional Government (KRG). The key points of contention include oil revenue sharing and unresolved issues regarding the Region’s budget.
To address these challenges, the Iraqi Parliament voted in February to amend Article 12 of the law. This amendment concerns the costs of oil extraction from the Kurdistan Region, aiming to resolve one of the main disputes that have hindered the budget’s final approval.
The discussion surrounding the 2025 budget continues to be a priority as both sides seek a resolution that will ensure the country’s financial stability moving forward. The final approval of the budget depends on settling the remaining differences between the federal government and the KRG.
