Iraqi parliament approves 2024 budget with mixed signals for job seekers

Shafaq News/ The Iraqi Parliament on Monday approved the 2024 budget, bringing some relief to pensioners and farmers but offering little hope for new job seekers.

Member of the parliamentary finance committee, Mueen al-Kadhimi, told Shafaq News Agency that the law passed earlier today does not allocate a budget for citizens seeking a government job as contractors or permanent employees.

"Existing employees can still transfer between departments or ministries upon approval from both parties and within their respective salary brackets and financial allocations," he added.

"However, it allocated funds for university and school student stipends, increased employee allocations by 4 trillion dinars to cover salaries for current employees, retirees, and contract workers," he said. "Additionally, 1.25 trillion dinars are earmarked for a raise for retirees, and funds are secured for end-of-service bonuses for both civilian and military retirees."

The budget, according to the lawmaker, expanded social welfare coverage to include over 650,000 new families and increased the capital of the Real Estate Bank by 500 billion dinars to meet housing loan demands from citizens.

"Five trillion dinars are allocated to cover farmers' dues for wheat and barley purchases," he stated.

Earlier today, the parliament's media office announced that the lawmakers passed the tables that sees an increase in the country’s spending to 211 trillion dinars (about $161 billion).

In June 2023, Iraq passed a three-year budget that included a record $152 billion in spending, allocating 12.6 percent to the semi-autonomous Kurdistan Region.