Four members of Iraq’s parliamentary finance committee said the government is drafting the 2027 budget on a $58/bbl oil price and total spending of IQD217 trillion (about $166bn). Under that assumption the deficit would exceed IQD40 trillion. The draft projects crude exports of roughly 4.0mln bpd, including Kurdistan volumes. Lawmakers said the government is considering revaluing the dinar from about 1,300 IQD/USD to 1,400–1,500 IQD/USD. Oil sales remain the dominant source of government revenue

Four members of Iraq’s parliamentary finance committee said the government is drafting the 2027 budget on a $58/bbl oil price and total spending of IQD217 trillion (about $166bn). Under that assumption the deficit would exceed IQD40 trillion. The draft projects crude exports of roughly 4.0mln bpd, including Kurdistan volumes. Lawmakers said the government is considering revaluing the dinar from about 1,300 IQD/USD to 1,400–1,500 IQD/USD. Oil sales remain the dominant source of government revenue.