MP: Iraq possesses huge resources sufficient for expenses and salaries without the need for borrowing
MP: Iraq possesses huge resources sufficient for expenses and salaries without the need for borrowing
11-1-2026
Information/Special…
Member of Parliament Abdul Hamza Munim affirmed on Sunday that Iraq possesses enormous wealth and economic resources capable of covering the majority of operational and investment expenditures and securing the salaries of state employees, stressing that there is no justification for resorting to financial borrowing.
Munim stated in an exclusive interview with the Information Agency that “the economic assets the country enjoys extend beyond oil revenues, as there are vast non-oil sectors and outlets that can provide the public treasury with sustainable revenues.” He explained that “the proper management and activation of these resources will guarantee the successful fulfillment of the government’s financial obligations.”
He added that “securing the salaries of employees and retirees and financing service and investment projects does not require burdening the state with new loans,” noting that “resorting to borrowing shackles the national economy with additional debt at a time when real financial alternatives are available that only require rigorous planning and eliminating sources of waste and corruption to maximize the country’s own resources.”
Earlier, MP Murtadha Afwin, a member of the Coordination Framework, warned of the repercussions of a crippling economic crisis threatening financial stability in Iraq due to continued total reliance on oil exports and the accumulation of public debt. He stressed the danger of resorting to borrowing to cover the budget deficit.
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