Iraqi parliament proposes borrowing bill as Strait of Hormuz closure hits economy

The Iraqi parliament has completed a draft for a domestic and foreign borrowing bill as a means to alleviate the country's finances, which have been significantly affected by the conflict in the Strait of Hormuz.

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KRG says Baghdad sent only 42% of budget share in seven years

“The federal government has sent only 42 percent of the region's budget share over the past seven years,” the KRG finance ministry said in a statement.

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Iraq struggles to balance 2026 budget amid Strait of Hormuz closure: Official

The sharp drop in export capacity is a direct result of the tightened restrictions placed on the vital Strait of Hormuz amid the US-Iran conflict.

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Iraq to face budget challenge amid falling oil revenues

Amid declining oil revenues and rising spending demands, Iraq’s next government is bound to encounter challenges drafting the 2026 federal budget, with experts warning that authorities may resort to austerity measures or continue temporary monthly spending mechanisms.

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Iraq risking stark economic losses amid budget delay: PM advisor

Iraqi officials and lawmakers warned that continued delays in approving the 2026 federal budget could deepen economic losses, stall investment projects, and increase uncertainty in the market.

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Iraq’s political deadlock delays budget drafting, raises concerns over services and salaries

The continued delay in forming Iraq’s government and resolving the presidency and premiership have stalled the constitutional process of approving the federal budget, lawmakers said.

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KRG to bind Baghdad to census results over new budget

"The Council of Ministers is following up to ensure the federal government adheres to these census results for the purpose of determining the Kurdistan Region's share of the budget."

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Erbil to talk budget with Baghdad after federal government formation: Spokesperson

"We will not discuss the subject of salaries with the federal government, we will talk about the budget, what the Kurdistan Region's share of the budget will be," KRG spokesperson Peshawa Hawramani asserted. "We will not let go of the seven salaries that have gone unpaid over the last three years."

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Iraq says no liquidity crisis following spending cuts

“These measures come in light of fluctuating oil prices and increased spending requirements,” Mazhar Mohammed Salih, financial advisor to Sudani, told state media. 

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