Al-Khafaf: The Iraqi economy is currently stable.
Al-Khafaf: The Iraqi economy is currently stable.
1-1-2026
Information / Baghdad –
Financial and economic advisor Wahbi al-Khafaf confirmed on Thursday that the Iraqi economy relies primarily on oil resources, describing it as a rentier economy and somewhat precarious. However, he also emphasized the unlikelihood of an economic crisis in Iraq at present.
Speaking to the Information Agency, al-Khafaf noted that “Iraq is a capitalist country and has effectively entered the world of investment in a short period.” He added that “the new prime minister’s name should be associated with the successful management of the Iraqi economy and the achievement of the desired development.”
The financial advisor addressed the issue of debt, stating that it is “normal and that the financial returns from the economy go directly to the state treasury without intermediaries.”
Regarding banking performance, he indicated that “some Iraqi banks have made mistakes in their financial policies,” but he affirmed that borrowing does not currently pose a significant threat to the Iraqi economy.
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