Al-Shabaki: The government is the cause of the financial crisis and the deficit is worsening.
Al-Shabaki: The government is the cause of the financial crisis and the deficit is worsening.
10-26-2025
Al-Maalouma / Exclusive..
Former MP Mohammed Al-Shabaki warned on Sunday of the continued exacerbation of Iraq’s internal and external debt, stressing that the current government bears primary responsibility for the financial crisis due to the lack of a clear economic vision and its delay in adopting radical solutions to address the growing budget deficit.
Al-Shabaki told Al-Maalouma Agency that “the internal debt has reached unprecedented levels, and the government was supposed to present a clear reform plan to address this issue, but the procrastination in making decisions led to a widening of the financial deficit gap.”
He added that “the current crisis is not only the result of global economic conditions, but also of weak financial management that lacks clear mechanisms to control spending and rationalize resources, which caused the internal and external debt to double in a short period.”
Al-Shabaki pointed out that “the government is required to develop a realistic economic vision that addresses the accumulation of debt and stops the bleeding of unproductive spending, before the country reaches the stage of inability to meet its internal obligations.”
This comes at a time when economic experts are escalating warnings about public debt reaching critical levels, amid a lack of real measures by the government to control the worsening financial crisis.
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