Al-Shabaki: The tripartite budget failed to achieve stability and puts Iraq at risk of bankruptcy.
Al-Shabaki: The tripartite budget failed to achieve stability and puts Iraq at risk of bankruptcy.
12-18-2025
Information/Special..
Former MP Mohammed Al-Shabaki confirmed today that the three-year budget did not achieve the desired economic stability, warning that the continuation of current financial policies will lead the country to a suffocating economic crisis in the coming years.
Al-Shabaki told Al-Maalouma News Agency that “the financial deficit has become large and worrying, in light of the absence of effective economic tools capable of addressing the financial imbalance.”
He added that “Iraq suffers from a clear weakness in its economic structure and a lack of real reform plans to diversify sources of income or reduce dependence on oil, which makes any shock in global markets a direct threat to financial stability.”
Al-Shabaki warned that “continuing public spending at the current levels, without control or reform, could push Iraq into bankruptcy by 2030,” noting that “the economic crisis has become clear, and international financial institutions have already issued serious warnings about the worsening deficit and internal debt.”
He pointed out that “the government’s discourse during the period preceding the elections did not reflect the true financial situation,” stressing that “if there had been transparency regarding the size of the financial deficit and its repercussions, the Prime Minister would not have received anything.”
Al-Shabaki concluded by saying that “the next stage requires courageous economic decisions, a review of the general budget, and an end to financial waste, before the country reaches a point where containing the crisis becomes difficult.”
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