Al-Khafaji: Iraq’s non-oil wealth is sufficient to cover salaries and expenses and end the financial crisis.
Al-Khafaji: Iraq’s non-oil wealth is sufficient to cover salaries and expenses and end the financial crisis.
10-20-2026
The head of the ” Idrak ” parliamentary bloc, MP Abdul Hamza al-Khafaji, held the system of financial corruption and mismanagement responsible for the crippling economic and financial crisis plaguing the country. He stressed that the continuation of this crisis hinges on the seriousness with which corruption is eradicated and stolen and squandered funds are recovered.
Al-Khafaji told the Information Agency that “Iraq possesses vast wealth and economic resources, more than sufficient to cover the majority of operational and investment expenditures and ensure the salaries of state employees without any deficit.” He explained that “rampant corruption and the absence of competent management have led to the loss of enormous sums and created financial chaos that has hindered the utilization of these resources.”
Al-Khafaji added that “there is a continuous drain and ambiguity surrounding the sources of funds in multiple sectors, most notably revenues from border crossings, taxes, and fees, in addition to other vital resources in most ministries and official institutions.” He pointed out that “the country possesses non-oil economic alternatives and resources that have been dormant and lost since 2005 without any real oversight.”
The head of the parliamentary bloc stressed that “addressing the financial crisis does not require complex procedures or placing additional burdens on citizens, but rather genuine will, sound management of existing resources, and the eradication of corruption, which will guarantee a radical end to the current crisis.”
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