The Iraqi parliament will concentrate on key pieces of economic legislation when MPs return from their summer recess on 8 September.
In particular, MPs will focus on the Supplementary Budget Law – an amendment to the Investment Law – and the Infrastructure Law, which were left unsigned when parliament broke for vacation in August.
In May, the government proposed a $66bn investment strategy that would see future oil revenues used as collateral against short-term bank loans to boost funding for the national infrastructure. This strategy has now been set out in the Supplementary Budget Law.
MEED reported in early September that the $20bn Rasheed real estate development in Baghdad hangs in limbo as the Iraqi parliament debates amendments to the national Investment Law. The project is running behind schedule because it has became a test case for proposed legislation allowing foreign businesses to buy Iraqi land for the first time (MEED 4:9:09).