Finance Minister Faleh Sari confirmed on Tuesday that the first phase of the program and performance budget will encompass the electricity sector and the provinces of Diwaniyah and Saladin, with gradual expansion to all state institutions over the next three
years. The Ministry of Finance announced the minister held a meeting with the parliamentary finance committee on Tuesday. This was part of early coordination for preparing the next budget draft, in collaboration with the Council of Representatives and the World Bank. The
minister clarified that the Electricity Ministry was chosen because its sector has depleted significant funds over past years without desired outcomes, necessitating a program budget to direct spending towards sustainable solutions and measurable results. He added that Diwaniyah and Saladin provinces
were selected due to their critical need to accelerate service and development projects, allowing resource allocation based on actual priorities and achieving optimal benefit from financial allocations. Furthermore, the minister briefed committee members on the current financial situation, the ministry's measures
to fulfill financial obligations, and its efforts to maximize non-oil revenues, thus ensuring continuous funding for essential public projects and services. He noted the meeting achieved consensus on financial reform priorities, emphasizing sustained coordination between the executive and legislative branches is
crucial for the upcoming budget's success and realizing financial and administrative reform goals.
