Al-Muhammadi: The Al-Zidi government must implement urgent solutions to end the debt crisis.
Al-Muhammadi: The Al-Zidi government must implement urgent solutions to end the debt crisis.
5-16-2026
Information/Special…
MP Karim Aliwi Al-Muhammadawi stressed on Saturday the necessity for the new government, headed by Ali Al-Zidi, to implement urgent economic solutions to end the external debt crisis and mitigate the repercussions of fluctuating oil prices on the Iraqi economy.
Al-Muhammadawi told the Information Agency that “the almost total reliance on oil revenues has made the Iraqi economy vulnerable to global crises and fluctuations, which has led to increased financial pressures and a rise in the debt burden over the past years.”
He added that “the new government has a responsibility to activate productive sectors, support industry and agriculture, and diversify revenue sources in order to reduce the need for external borrowing and protect the general budget from any collapse resulting from the decline in oil prices.”
Al-Muhammadawi pointed out that “continued reliance on oil alone poses a real threat to economic stability, requiring long-term strategic plans to ensure financial stability and achieve sustainable development.”
It is worth noting that the issue of external debt and fluctuating oil prices are among the most prominent challenges facing the Iraqi economy, given the continued heavy reliance on oil revenues as the primary source of the general budget. This necessitates that the incoming government expedite the adoption of comprehensive economic reforms that enhance financial stability and support the path of sustainable development.
almaalomah.me
