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Iraq’s 2027 Budget Enters Production
By Reset Intelligence | @EXIT_FIAT
Tomorrow morning, in a committee room at the Federal Ministry of Finance, Iraq starts writing its 2027 federal budget – the law that carries the dinar’s exchange rate.
The Kurdistan Region flew a senior financial delegation to Baghdad to sit at the drafting table the day before the first line gets written.
The schedule is on the record
Drafting begins Saturday. The finished draft reaches the Council of Ministers on September 15. The cabinet votes the budget this month with the deficit capped at 3 percent, and then parliament receives it. It is the first complete budget the state has produced since 2023, near 200 trillion dinars, one of the largest in Iraq’s history. In Iraq the exchange rate is written into the budget law, and the 1,300 every holder knows has sat in the same law since June 2023 because no government finished a replacement. The replacement is now in production.
The central bank cleaned house the same week
• Al-Taif Islamic Bank – placed under an 18-month guardianship on the CBI’s own wire, a named custodian holding the keys
• Shams Maysan brokerage – license struck off the register
• The political class – every bank in Iraq ordered to file politicians and their relatives, to the third degree, into a database
• The 9 cabinet chairs – parliament’s vote on the unfilled posts, interior and defense among them, set for next week
• 1,320 – the number the community is circulating for the draft. The February 2023 record says the draft is not where Iraq’s rate decisions get made
That is the short version. What the drafting table means for the rate question, why Erbil took its seat a day early, what the bank seizure is preparing the system for, and where the February 2023 precedent says to actually look – that is the daily connection work, and it is in today’s full briefing.
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