At a Glance

• A new economic model adopted in Iraq's oil refineries is projected to generate $15 billion annually for the general state budget.

• The reform initiative was designed and introduced during Prime Minister Ali Zeidi's initial 100-day administration window.

• The structural changes preserve existing salaries and allowances for Ministry of Oil personnel.

• Separately, the government has allocated 300,000 plots of land for distribution to property-less families as part of a broader 1-million-plot housing initiative.

---

In an official briefing, Ihsan Awadi, Director of the Prime Minister's Office, revealed that reforming the economic framework governing state oil refineries has successfully unlocked substantial non-oil revenue streams while maintaining full financial protections for sector workers.

---

Key Statements and Focus Area

• Budgetary Impact: The redesigned economic structure captures an estimated $15 billion annually for state coffers, serving as a cornerstone of the cabinet's fiscal stabilization strategy.

• Expert Collaboration: Developed alongside leading economic and technical specialists, the model avoids adverse impacts on public sector compensation while optimizing refinery output and asset utilization.

• Housing Allocations: Alongside fiscal reforms, administrative teams secured 300,000 residential land plots during the first 100 days of governance specifically designated for landless Iraqi families.

---

The sweeping reforms form part of an aggressive 100-day action plan intended to modernize state finances, reduce structural waste, and deliver tangible social welfare benefits through targeted land distribution and resource optimization.

FYI

State-owned oil refineries in Iraq manage complex downstream processing of crude oil into refined petroleum products for domestic consumption and export, representing a critical sector for national energy security and public revenue generation.

Dive Deeper: Handpicked Stories for You

Follow Channel8 for continuous updates:

Iraqi Finance Ministry Prepares First Performance-Based Budget

Iraq Projects 200-Trillion 2027 Budget Ahead of October Submission 

Iraq’s 2027 Budget Bill Set For September Parliament Submission