PM:12:38:27/07/2025
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Iraqi Prime Minister Mohammed Shia' al-Sudani's Financial Advisor, Mazhar Mohammed Saleh, said on Sunday that the 2026 federal budget will bring a new financial direction by focusing on expanding non-oil revenues.
Saleh explained that the upcoming budget aims to increase the share of non-oil revenues, which will, in turn, improve public liquidity and reduce reliance on short-term borrowing. He emphasized that this shift is essential for long-term economic stability.
"The 2026 budget will attempt to restructure the country’s public spending, as government expenditures currently represent 50 percent of the gross domestic product (GDP)," Saleh noted.
In line with this approach, the Iraqi Ministry of Planning recently revealed a five-year plan to boost non-oil revenues to 79 trillion dinars, reflecting the government’s broader efforts to diversify the national economy away from oil dependency.