Al-Bayati identifies three reasons for the financial crisis plaguing the country.
Al-Bayati identifies three reasons for the financial crisis plaguing the country.
2-9-2026
Information/Baghdad…
Former MP Mohammed al-Bayati presented three main reasons for the current financial crisis in Iraq on Sunday, stressing that it had been expected for years.
Speaking to Al-Maalouma, al-Bayati said, “The financial crisis in Iraq has been expected for years, which necessitates taking serious steps to correct the course of the economy in general and reduce the impact of oil price fluctuations on the state treasury.”
He added, “The drop in oil prices was accompanied by a significant increase in operational expenses, especially salaries, which now constitute about 80% of public treasury revenues. Furthermore, there were errors in the mechanism for dealing with the financial situation, which directly contributed to exacerbating the current crisis.”
He pointed out that “the main task of the next government is to address the financial situation and find real solutions to correct the course of the economy,” noting that “continuing to open the file of appointments without realistically considering the size of the country’s revenues will lead Iraq to a difficult economic situation in a short period.”
He emphasized that “the next stage requires ending dependence on a rentier economy based solely on oil and transitioning to the principle of a diversified economy to ensure financial stability.”
almaalomah.me
