Parliamentary Finance Committee Refers Borrowing and Five-Year Employee Leave Bills to Parliament Presidency

The parliamentary finance committee has referred two draft laws—the borrowing, grants, and subsidies proposal, and the proposal for granting employees a five-year leave—to the presidency of the Council of Representatives, paving the way for their first reading. Committee head, MP Adiy Awad, stated that the borrowing law proposal aims to grant the government legal authority to borrow to address part of the financial crisis, especially given declining revenues. He noted that a portion of these funds would be allocated to Basra province. Regarding the five-year employee leave proposal, Awad explained its objective is to provide legislative solutions for current administrative and financial challenges. It seeks to offer flexible options for employees, balancing public service demands with supporting the labor market and private sector, while safeguarding functional rights as the law stipulates upon enactment. In a related development, Awad indicated that the 2027 budget remains unclear, with suggestions it will be a programs-and-performance or itemized budget. It is expected to reach parliament by next October for committee review. He added that 2026 would not see a budget approval, necessitating legislative measures to ensure sustained public spending. The committee head affirmed its ongoing work in preparing and overseeing financial and economic legislation, fostering its development in coordination with relevant bodies to enhance financial management efficiency and serve the public interest.