Expert warns of economic “collapse”: Iraq’s exports have declined dangerously
Expert warns of economic “collapse”: Iraq’s exports have declined dangerously
5-11-2026
Information/Baghdad…
Economic expert Ahmed Al-Waeli warned on Monday of a “catastrophe” threatening the country due to the inability of alternative routes to compensate for lost oil exports. He emphasized that the new parliamentary trend of opening appointment files will exacerbate the financial deficit.
Al-Waeli told Al-Maalouma that “Iraq’s exports through alternative outlets do not exceed one million barrels per day, which does not meet even a quarter of the actual needs.” He explained that “the country has lost two-thirds of its export capacity, which used to exceed three million barrels per day through the Strait of Hormuz, causing a devastating blow to imports.”
He clarified that “the Central Bank’s assurances of securing salaries for only six months mean the beginning of a dangerous depletion of the cash reserves,” noting that “continuing on this path will place the Iraqi economy before an unprecedented existential crisis.”
Al-Waeli added that “the new parliamentarians’ intentions to open appointment and contract files at this time will transform the entire budget into a consumer salary budget and increase the severity of the crisis,” describing the situation as “a result of the chaos and poor administrative planning that plagues the financial sector.”
almaalomah.me
