Economist: The Ministry of Finance is currently unable to submit the draft budget, and identifies the reasons.
Economist: The Ministry of Finance is currently unable to submit the draft budget, and identifies the reasons.
2025/08/06
Economic expert Rashid Al-Saadi confirmed that the Iraqi economy faces a number of challenges that hinder its stability, most notably those related to the region, in addition to corruption issues and its connection to the US Federal Reserve.
Al-Saadi told Al Furat News Agency that “the Ministry of Finance is currently unable to submit the draft general budget due to the Kurdistan Region’s failure to deliver oil and non-oil revenues,” noting that “approving the budget will allow room for public spending, which will directly impact the well-being of citizens.”
Al-Saadi added, “Corruption represents a major challenge that is eating away at state institutions and cannot be controlled despite the measures taken by the Integrity Commission and the government.”
In a related context, he stressed that “Iraq’s connection to the US Federal Reserve represents a major catastrophe, as funds can only be freely used by submitting requests to the bank, which often delays its responses,” asserting that “all of these factors limit and restrict the freedom of the Iraqi economy.”
alforatnews.iq
