Iraq plans to sign contracts for 25,000 megawatts (MW) of new electricity generation capacity during the current year as it increases investment in the power sector under its 2027 budget preparations, Prime Minister Ali Faleh Al-Zaidi said.

Chairing the eighth regular Cabinet meeting on Sunday, Al-Zaidi said preparations for next year's budget are being undertaken using a programme-based budgeting framework designed to align spending with government priorities.

He said the electricity sector would receive a larger budget allocation, enabling the national power grid to reach a much stronger position next year.

(Writing by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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