A leader in the framework: Political blocs impose spending items on the government in the budget
A leader in the framework: Political blocs impose spending items on the government in the budget
1-2-2025
Information/Special..
Today, Thursday, the leader of the Coordination Framework forces, Salam Al-Zubaidi, warned that the Central Bank and the Ministry of Finance would face great difficulties due to political blocs and components imposing certain spending doors on the government.
Al-Zubaidi said in an interview with Al-Maalouma Agency, “The financial policy in Iraq is not clear and the economic situation is exposed to many pitfalls due to Iraq’s dependence on oil as the sole source of the budget at a rate of 90 percent,” indicating that “many of the spending items in the financial budget were imposed on the government and there is no balance between revenues and income.”
He added, “The current path of the Iraqi state’s financial plan is not clear, and the spending doors that may be imposed by political blocs and components may embarrass the Central Bank and the Ministry of Finance in terms of revenues,” indicating that “stopping oil exports from the Kurdistan Region and not delivering imports has greatly affected the volume of imports and the government’s financial capacity.”
He stressed the “necessity of redrawing the financial policy of the Iraqi state by the Ministries of Finance and Planning and recalculating many of the resources of the Iraqi state, not relying on oil and having other resources and a balance between imports and expenditures.”
It is noteworthy that the financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, denied the existence of a salary crisis in the country, stressing the existence of large financial reserves that cover the required liquidity.
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