Expert warns of imminent financial crisis in Iraq
Expert warns of imminent financial crisis in Iraq
2-20-2025
Al-Maalouma / Special..
Economic expert Nabil Al-Marsoumi warned today, Thursday, of the turbulent financial situation in Iraq, indicating that the country may face a major financial crisis if global oil prices continue to decline and appropriate economic solutions are not taken.
Al-Marsoumi said in a statement to / Al-Maalouma / agency: “We previously warned that the Ministry of Finance is suffering from a lack of financial liquidity due to the decline in oil prices and other economic factors.”
He added that “Iraq may face a serious financial dilemma if oil prices do not rise or if urgent solutions are not found to the current financial crisis,” noting that “the financial situation in Iraq at the present time is facing major challenges in light of the continued decline in oil prices.”
He also pointed out that “the governing sovereign expenditures force the government to enter a confusing situation as a result of the poor economic policies followed.”
He explained that “oil revenues in Iraq reached 9 trillion dinars, while salaries reached 8 trillion dinars, with a limited financial surplus not exceeding one trillion dinars, which indicates the difficulty facing the Ministry of Finance in meeting the country’s financial needs.”
Al-Marsoumi continued his warnings by saying, “The country’s future financial situation will be difficult in the coming years if the situation continues as it is without radical economic interventions.”
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