Exciting news from Baghdad! The Prime Minister’s financial advisor, Mazhar Salih, announced that the Ministry of Finance has officially begun preparing the 2025 general budget for Iraq. This is in accordance with the Federal General Budget Law, which mandates a three-year budget proposal to be submitted to parliament by the end of the fiscal year.
Salih emphasized that the Ministry of Finance is following the legislative structure set by the 2023 three-year budget law. The upcoming budget will be influenced by prior financial success metrics, as well as regional and global economic trends.
With a goal of achieving increasing growth rates, the 2025 budget will prioritize large rehabilitation projects and focus on economic sectors beyond oil. The financial authority in Iraq is confident that they will meet all legal criteria before the end of 2024, ensuring approval from Parliament and the cabinet.
Stay tuned for more updates on Iraq’s economic progress as they prepare for the 2025 general budget. For the latest news, visit Iraqi News.