Former MP: Iraq is facing an economic disaster and the solution lies in two urgent steps
Former MP: Iraq is facing an economic disaster and the solution lies in two urgent steps
1-12-2025
Information/Special..
Former MP Ahmed Al-Hajj called on the government and parliament on Sunday to take urgent measures to prevent an imminent economic disaster that Iraq may face.
Al-Hajj said in an interview with Al-Maalouma Agency, “Iraq is facing a financial crisis whose signs have appeared in the past few days and have affected the state’s financial obligations towards its employees and other groups. This crisis is caused by the decline in oil prices, which represent the most important source of financial resources for the state, as well as the gap between revenues and expenditures that has widened in recent years.” He indicated that “many warnings have been issued in the past that the country is heading towards such a crisis unless appropriate solutions are put in place.”
He added, “The government must quickly adopt administrative streamlining and not inflate the financial budget due to the demands of some political parties that benefit from the budget as an investment or as a source of income,” indicating that “administrative streamlining leads to a decrease in government expenditures and we avoid the disaster that Iraq faces if oil prices and the quantity of exported oil do not decrease.”
It is noteworthy that the Parliamentary Finance Committee hosted, on Monday, the Minister of Finance, Taif Sami, to discuss amending the budget law for the current year, while the head of the Rights Bloc, MP Hussein Mounes, called after the hosting to reduce spending and maximize revenues.
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