New details reveal draft budget for 2027 and exchange rate

Leak reports revealed today, Sunday, the setting of the dollar exchange rate at 1500 dinars within the draft federal general budget law for the year 2027, amid anticipated governmental moves to amend the official rate. The proposed data showed that the new exchange rate equals 150 thousand dinars for every 100 dollars, while the official draft has not been sent to the parliament building yet. According to the financial estimates of the project, the total proposed budget amounts to about 218 trillion dinars, and is estimated at about 145 billion dollars based on the current exchange rate, down from about 166 billion dollars when calculated at the previous rate of 1320 dinars per dollar. Regarding the Kurdistan region share, the data indicated that it was set at 12.67 percent, while the actual share of the region reaches about 13 trillion dinars after deducting the total sovereign expenditures. The indicators show that the allocated share for the region will witness a decrease compared to the 2023 budget, which nominates the file of financial dues between Baghdad and Erbil to return to the forefront of upcoming political discussions and dialogues. On the same level, a high-level government delegation from the Kurdistan region is preparing to visit Baghdad next Wednesday, aiming to discuss the budget items and pending financial files between the two parties. In parallel, the parliamentary finance committee intends to host the minister of finance to discuss the amendments and paragraphs contained in the budget draft before sending it officially to parliament for voting.