Ammar al‑Hakim calls financial crisis a "comprehensive national" one and hopes 2027 budget will pass before year‑end
Ammar al‑Hakim said the financial crisis is the result of exceptional circumstances caused by security tensions and disruptions in energy supply chains, and expressed hope that the 2027 budget bill will be approved during the current year.
The head of the National State Forces Alliance, Ammar al‑Hakim, described the financial crisis facing Iraq as a "comprehensive national" one resulting from an exceptional circumstance, expressing his hope that the government and parliament will be able to pass the 2027 budget law before the end of the year.
He said this during a joint press conference held with Diyala Governor Adnan Muhammad al‑Shammari and Provincial Council President Omar Ma'n al‑Karawi, on the sidelines of his visit to review the service and security situation in the governorate.
Al‑Hakim pointed out that the crisis is linked to the wartime conditions the region experienced, the closure of the Strait of Hormuz, and the stoppage of Iraqi oil flows for many long months, explaining that exports resumed intermittently after some Iraqi tankers were targeted, which created an exceptional circumstance that directly affected state revenues.
He affirmed that the federal Ministry of Finance is exerting its utmost efforts to secure the revenues required to pay salaries and the dues of farmers and contractors, as well as to cover operating budgets and the essential needs of the governorates.
He added that the draft 2027 budget law is currently before the Cabinet, expressing hope that it will be approved and sent to the Council of Representatives for enactment before the end of the year, noting that the budget includes amounts earmarked for the development of governorates and regions and for petrodollar entitlements in a way that contributes to bringing about a comprehensive developmental renaissance.
