Efforts to boost investment in Iraq gained renewed attention as the head of the Iraqi Federation of Chambers of Commerce called for stronger international partnerships, while a senior government adviser confirmed that Budget 2027 will focus on fiscal sustainability and economic reform.<\/p>\n
The remarks reflect parallel tracks aimed at strengthening Iraq\u2019s economic position amid regional and global challenges.<\/p>\n
Amer Al-Fahdawi, head of the Iraqi Federation of Chambers of Commerce, participated in the opening of the Arab-Swiss Business Forum, organized by the Arab-Swiss Chamber of Commerce and Industry in cooperation with the Union of Arab Chambers and the Arab League mission in Geneva.<\/p>\n
According to a statement carried by the Iraqi News Agency, Al-Fahdawi stressed that Iraq is not merely an observer of geopolitical and economic developments, but a country deeply affected by them.<\/p>\n
He noted that Iraq\u2019s geographic location, natural resources, Arab depth, and global trade connections make it both vulnerable to regional instability and capable of contributing to economic stability.<\/p>\n
He emphasized the need for structured action across several areas, including:<\/p>\n
– Enhancing the resilience of the private sector<\/p>\n
– Protecting workers and developing skills<\/p>\n
– Building international economic partnerships<\/p>\n
– Positioning Iraq as a regional economic platform<\/p>\n
Al-Fahdawi also called for stronger dialogue between Arab and international chambers of commerce to monitor the impact of crises on businesses and labor markets, and to expand cooperation with global economic institutions.<\/p>\n
Separately, financial adviser to the Prime Minister Mazhar Mohammed Salih stated that Iraq\u2019s fiscal policy continues to operate under the Federal Financial Management Law No. 6 of 2019, particularly Article 13, which regulates spending when the federal budget is delayed.<\/p>\n
He explained that the provision allows the Ministry of Finance to authorize monthly spending equivalent to one-twelfth of the previous year\u2019s actual current expenditures, excluding non-recurring expenses.<\/p>\n
This mechanism, he said, has ensured the continuation of key obligations, including:<\/p>\n
– Salaries and wages<\/p>\n
– Pensions<\/p>\n
– Social protection benefits<\/p>\n
– Essential operational expenses<\/p>\n
It also permits funding for ongoing investment projects based on completion rates, provided sufficient liquidity is available.<\/p>\n
Salih noted that Iraq\u2019s public finances faced exceptional challenges in 2026 due to geopolitical developments and disruptions in global energy markets and supply chains.<\/p>\n
As oil revenues remain the primary source of public income, fluctuations in energy markets directly affected the government\u2019s fiscal capacity.<\/p>\n
He said these pressures prompted the government to prepare the 2027 federal budget with a reform-oriented perspective aimed at preserving fiscal sustainability and macroeconomic stability.<\/p>\n
According to Salih, Budget 2027 will focus on:<\/p>\n
Improving efficiency in public resource management
\nRationalizing operational spending
\nProtecting social expenditures for vulnerable groups
\nPrioritizing high-impact investment projects
\nDiversifying revenue sources and reducing reliance on oil
\nAdvancing financial and administrative reforms and digital transformation<\/p>\n
He added that these priorities align with Iraq\u2019s broader financial strategy and the Iraq Vision 2035 framework, which aims to build a diversified and sustainable economy capable of withstanding external shocks.<\/p>\n
The parallel calls to boost investment in Iraq and advance fiscal reform through Budget 2027 highlight the country\u2019s efforts to strengthen economic resilience. While international partnerships are seen as key to increasing investment inflows, the government\u2019s reform-oriented budget approach aims to ensure long-term fiscal stability and sustainable growth.<\/p>\n","protected":false},"excerpt":{"rendered":"
Efforts to boost investment in Iraq gained renewed attention as the head of the Iraqi Federation of Chambers of Commerce called for stronger international partnerships, while a senior government adviser confirmed that Budget 2027 will focus on fiscal sustainability and economic reform. The remarks reflect parallel tracks aimed at strengthening Iraq\u2019s economic position amid regional […]<\/p>\n","protected":false},"author":1,"featured_media":34468,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sitemap_exclude":false,"_sitemap_priority":"","_sitemap_frequency":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","override":[{"template":"7","parallax":"1","fullscreen":"1","layout":"left-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"topbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","show_comment_section":"1","number_popup_post":"1","show_author_box":"1","show_post_related":"0","show_inline_post_related":"0"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0"},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"jnews_post_split":{"post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]},"footnotes":""},"categories":[196],"tags":[],"class_list":["post-34467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy"],"_links":{"self":[{"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/posts\/34467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/comments?post=34467"}],"version-history":[{"count":1,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/posts\/34467\/revisions"}],"predecessor-version":[{"id":34470,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/posts\/34467\/revisions\/34470"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/media\/34468"}],"wp:attachment":[{"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/media?parent=34467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/categories?post=34467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.iq\/en\/wp-json\/wp\/v2\/tags?post=34467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}