The parliamentary finance committee is leaning towards adopting an annual budget for the current year and is ruling out a return to the tripartite system.
The Finance Committee in the House of Representatives is moving towards adopting an annual general budget for the current year.
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In an interview with the official newspaper, which was followed by “Al-Eqtisad News”, MP Zainab Rahim Al-Jiyashi, a member of the Finance Committee, said that the goal of preparing an annual budget is to support vital service projects, especially in the health, education and infrastructure sectors, noting that this approach is consistent with the need to promote fairness in the distribution of resources and improve the quality of public services.
Al-Jiyashi added that "the annual budget represents a more accurate tool in managing public spending compared to multi-year budgets, as it allows for the periodic reassessment of priorities in accordance with economic and financial developments, which positively impacts the efficiency of government spending.
At the same time, she confirmed that it is impossible to return to the three-year budget model at the present stage, because it is not suitable for the economic conditions and fluctuations that the country is witnessing.
The Iraqi banking sector is at a crossroads… either reform or forced merger
The Iraqi banking sector stands at a pivotal moment in 2026 that could completely reshape its landscape, amid mounting internal pressures and escalating external challenges related to international compliance, the flow of the dollar, and its relationship with the global financial system. Between talk of structural reforms and more stringent options that may include mergers or closures, the banking landscape in Iraq appears poised for profound changes that extend beyond the purely technical to encompass broader economic and political dimensions.
Iraq has more than 75 banks, including government, private, and foreign institutions, but actual activity is concentrated in a limited number of them. Government banks hold the largest share of deposits and transactions related to government salaries and public spending. In contrast, private banks face increasing challenges related to liquidity, compliance, and foreign exchange requirements, especially after the tightening of controls on dollar transactions in recent years.
Financial sources indicate that the Central Bank of Iraq is considering several avenues for restructuring the sector, ranging from tightening solvency and compliance standards and mandating mergers between small and weak banks, to potentially revoking the licenses of institutions unable to adapt to the new standards. These steps, if implemented, would effectively mean a shift from a phase of "gradual reform" to a more profound restructuring that may be imposed by the realities on the ground.
The exchange rate remains at the heart of this equation. The gap that has emerged between the official and parallel market rates in recent years has presented monetary policy with a significant challenge, especially given the Iraqi economy's near-total dependence on dollar-denominated oil revenues. Any disruption to the flow of hard currency or to the external transfer mechanism is immediately reflected in imports, prices, and market confidence.
The future of the foreign currency auction window remains one of the most sensitive issues. This mechanism, which for years served as a primary tool for supplying the market with dollars, is now subject to rigorous scrutiny, amid discussions about restructuring it to align with international standards for combating money laundering and terrorist financing. Restructuring this window effectively means changing the way private banks, money transfer networks, and foreign trade operate.
The biggest challenge is not limited to regulatory aspects, but extends to a crisis of confidence. A large segment of the Iraqi population still prefers to keep cash outside the banking system, due to past experiences, withdrawal restrictions, and weak digital services. Unofficial estimates indicate that a significant portion of the circulating cash does not pass through banking channels, limiting the central bank's ability to manage liquidity effectively.
In the background, integration with the global financial system stands out as a crucial test. Fully reintegrating Iraqi banks into international banking networks requires rigorous transparency standards, modernized compliance systems, and a rebuilding of trust with global financial institutions. Without this, the sector will remain vulnerable to restrictions, sanctions, or partial isolation.
Based on these facts, Iraq appears to face only two options: either to proceed with gradual reforms that calmly restructure the sector and gradually restore confidence, or to confront a scenario of mergers and coercive measures imposed by financial and regulatory pressures. In either case, this year could represent a turning point in the history of the Iraqi banking system, where the question is no longer whether change will occur, but how, when, and at what cost.
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Jamal Kojer told Rudaw: Securing salaries in Iraq and the Kurdistan Region will not face problems for the next six months.
Iraqi parliament member Jamal Kojar stated that the ongoing war in the region has directly and indirectly affected eight different sectors in Iraq, while noting that the process of securing salaries in Iraq and the Kurdistan Region will not face any obstacles during the next six months.
The IMF predicts an economic contraction in Iraq.
The International Monetary Fund ( IMF
) predicted on Wednesday that the Iraqi economy will experience a significant contraction next year, placing the country among those most affected by the repercussions of ongoing conflicts in the Middle East and the pressures facing global energy markets.
According to the IMF's estimates, which were reviewed by the Al-Maalomah news agency, this decline stems from disruptions affecting the oil sector, the country's main source of revenue, coinciding with instability that has directly impacted shipping in vital global waterways, leading to disruptions in export operations and increased shipping and insurance costs.
The IMF warned that a prolonged continuation of the conflicts could drive up oil prices, which is typically accompanied by higher import costs and inflationary pressures. This, in turn, negatively impacts the prices of goods and services within Iraq and increases the cost of living.
The data indicates that the economic impacts will affect several countries in the region to varying degrees, placing Iraq under the dual pressure of fluctuating revenues and increased government spending to address the crisis's repercussions. This could negatively affect the country's financial and economic stability.
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America decides to send an additional 6,000 troops to the Middle East
Officials said the Trump administration's deployment of thousands of troops to the region was intended to pressure Iran into reaching an agreement.
The newspaper added that the forces heading to the region include about 6,000 soldiers aboard an aircraft carrier and escort ships.
It also indicated that the forces heading are estimated at about 6,000 soldiers on board an aircraft carrier and escort ships.
She noted that approximately 4,200 soldiers from the Boxer Amphibious Group and Marines are expected to arrive by the end of the month.
Financial expert: There is no problem with salaries in the coming months, and current oil export alternatives are stopgap measures.
During his appearance on the program “On the Ruler” broadcast by Al-Furat satellite channel, Hantoush explained that “tomato prices have witnessed relative stability in the past period as a result of achieving self-sufficiency,” expecting “prices to decrease after the Ministry of Agriculture announces the opening of the door to imports soon.”
Regarding the financial aspect, he pointed out that "there is a need to address some challenges related to securing salaries next month if borrowing is not resorted to," noting that "the proposal includes covering the salary deficit and completing projects, given that the Central Bank has foreign currency reserves exceeding $20 billion."
Hantoush confirmed that "salaries for the coming months are secured, and the state has the ability to borrow to overcome financial pressures until oil export revenues stabilize," explaining that "tensions or war will not directly affect the continuity of salary payments."
Regarding the oil sector, Hantoush pointed to "a decline in exports of about 3 million barrels during 45 days," indicating that "the current solutions that rely on exporting through the port of Ceyhan or transporting by tankers through Syria remain 'patchwork,' as he put it, and do not eliminate the need to adopt stable routes such as the Strait of Hormuz.
He added that "Iraq does not have an oil transport fleet through the strait, which makes relying on it essential within the economic equation," noting that "any future developments in the strait will directly affect global trade."
Hantoush concluded by saying that "Iraq possesses great investment potential and competencies, but the weakness of the infrastructure and the lack of support for the private sector constitute an obstacle to development," calling for "greater flexibility in dealing with investors and reducing the restrictions and fines, which he described as excessive."
i added that "the head of the State of Law Coalition, Nouri al-Maliki, is still holding on to his nomination; however, he may concede if the framework decides on an alternative candidate," indicating that "the framework has no option but to put forward an alternative figure at the current stage."
He indicated that “next Saturday’s meeting may largely decide on the candidate’s name, with the possibility of announcing the name 24 hours before the constitutional deadlines expire,” stressing “the framework’s commitment to adhering to the constitutional deadlines in order to restore confidence in the political process.”
A US message: Araqchi meets with the Pakistani army chief in Tehran to discuss the second round of negotiations.
Iranian Foreign Minister Abbas Araqchi met with Pakistani Army Chief Asim Munir, who arrived in Tehran to deliver a message from the United States and to plan for the second round of talks between Tehran and Washington.
The Iranian Foreign Ministry said in a statement Wednesday evening that Araqchi met with Munir in the capital, Tehran.
She added that the meeting was attended by Iranian Deputy Foreign Minister Kazem Gharibabadi and Foreign Ministry spokesman Ismail Baghaei.
The statement did not mention any details regarding the content of the meeting.
In this context, the semi-official Iranian news agency Tasnim quoted an unnamed high-ranking official as saying that Iran will decide, after the meeting with the Pakistani official, on the next stage of negotiations with the United States.
Earlier on Wednesday, a high-level Pakistani delegation, headed by Army Chief Asim Munir, arrived in Iran to deliver a message from the United States and to plan for the second round of talks between Tehran and Washington.
Iranian state television reported that the Pakistani delegation, headed by Army Chief Asim Munir, arrived in the capital Tehran, where they were received by Foreign Minister Abbas Araqchi.
For its part, the semi-official Iranian news agency Mehr reported that the Pakistani delegation would convey a message from the United States to Iran and hold consultations regarding the planned second round of talks.
On Tuesday, Iranian state media reported that diplomatic messages continued to be exchanged between Tehran and Islamabad regarding a possible new round of negotiations with the United States.
Prior to that, US President Donald Trump indicated, during a television interview, that the second round of negotiations with Iran might be held "within the next two days."
On Sunday, Iran and the United States announced the end of negotiations held in the Pakistani capital, Islamabad, without reaching a final agreement to end the war, amid an exchange of accusations between the two sides regarding responsibility for the failure.
On April 8, Washington and Tehran announced a two-week truce brokered by Pakistan, as a prelude to broader negotiations to end the war that the United States and Israel launched against Iran on February 28.
After a partial suspension, Iraq resumes flights to Dubai, Istanbul, and new destinations.
The Independent - Air traffic in Iraq is gradually returning to normal, with the Ministry of Transport announcing the resumption of a number of international flights, in a step that reflects a noticeable improvement in the pace of operation and the restoration of navigational activity in the coming days.
The spokesman for the Ministry of Transport, Maitham Al-Safi, said that Iraqi airspace has already begun to receive flights in an increasing manner, stressing that work is continuing to raise the level of operation gradually until it reaches normal rates, according to what was reported by the Iraqi News Agency.
Al-Safi explained that Iraqi Airways resumed its international flights to a number of destinations on April 10, including Istanbul, Amman and Cairo, before later extending to flights to India, as part of a gradual operational plan aimed at reconnecting Iraq to the regional and international air transport network.
He added that the flight schedule will see further expansion, with flights to Guangzhou planned, and flights to Dubai resuming from Thursday, reflecting growing demand for travel and a return of confidence in the aviation sector.
In a related context, he pointed to the resumption of domestic flights between a number of major airports, including Baghdad, Erbil, Sulaymaniyah and Basra, with plans to gradually increase the number of flights in the coming period to meet the growing demand.
He also noted the return of a number of regional and international airlines to operations in Iraq, including Royal Jordanian and Flydubai, along with other companies, in an indication of the recovery of the aviation sector and the resumption of air traffic activity.
In a separate statement, the Ministry of Transport confirmed that flights between Baghdad and Sabiha Airport will resume starting next Saturday, as part of a government plan to expand the network of international destinations and facilitate the movement of passengers, which will enhance Iraq’s position as a regional transport hub in the coming phase.
"Yes, during the war.""Brother, we're forced to. For the sake of our livelihood, by God. We risk our daughters and our sons. We're forced because of our living situation.""By God, we've been coming from Iran for a long time. We used to come even before the wars started, and we still come.""My name is Shahnaz. I'm from Ahvaz. We bring goods and come here to sell on the street. We break/sell anything we have.""Why don't you sell in Iran?"
"By God, because of the sanctions on us, the Iranian currency has dropped a bit, and the money here is a bit better.""The price here is better compared to during the war. It's normal, nothing special, praise be to God. I plan to stay here for 15 days, then go back to Iran.""How do you eat and drink for 15 days?"
"Yes, by God, I eat and drink, praise be to God, and I know how to manage my affairs.""How? Where do you sleep?"
"I rented a hotel. No, I didn't rent a hotel... meaning life here has some difficulties, but there's no proper job, so I'm managing comfortably.""My name is Ali Muhammad. Where from?"
"From Iran, the Ilam region. We bring this honey... yes, Iranian.""How is the selling process going for you now?""Here, now, since the war started, the whole market has collapsed. There's almost no buying or selling... it's very little.""In Iraq?"
"Yes, in Iraq."
"And in Iran?"
"In Iran, there are no working hours, no jobs, no companies — everything is closed until now. Schools and universities are all shut.""Did you come specifically because of the war, or was this your job here anyway?"
"No, I came now during the war."
"Yes, during the war.""Brother, we're forced to. For the sake of our livelihood, by God. If we weren't forced, we wouldn't come. I hope... I really hope the war stops and our currency rises again so I don't have to come anymore, God willing.""But during Arba'een (the 40-day pilgrimage) and visiting Imam Hussein, we do come.""By God, I'm forced because of my children, because of my daughters and sons. We're forced for our livelihood. I can't open a shop here. I buy goods from the Iranian women, I buy wholesale from them, and we sell on the street. We bring Iranian stuff.""Meaning Iranian goods?"
"Yes.""Do you go back to Iran or not?"
"No, once a month we have to go back to get our passport stamped. By God, it's a bit difficult for us there. We don't want to open a shop or rent a place there. The rent is very high on us, and they take taxes too. Every year they take taxes on the card, for example if we buy a device, they take a lot of tax on it.""Here, no. Here, you know, your money is cash. You get your money back in your hand.""By God, I've been here for many years — eight years now — sitting here selling in Al-Ashar. The old-timers here all know me.""By God, we've been coming from Iran for a long time. We came even when the wars happened, and we still come.""What do you bring? What do you do?"
"We bring clothes (jinas/jins = goods/clothing), we sell here. There are rockets/missiles visible in front of the... before the truce, there were those rockets, and we still come.""Aren't you afraid for your lives?"
"We're forced. What can we do? This is our livelihood.""We continue..."
"We continue...""Every day you go?"
"Every day? No, by God, they don't let us cross the border every day.""They don't let us.""Today I'm here, where do you sleep and eat?"
"In the open (khiyabars? / streets or makeshift spots). In simple places. We return at night, we come back here... like this, like this, like this. That's it."
For the currency difference.. Iranians sleep on the sidewalk of Kuwait Street with tax collectors to make a living
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