Parliamentary movement to draft an “economic” budget based on diversifying sources of income
Parliamentary movement to draft an “economic” budget based on diversifying sources of income
1-29-2026
Information/Baghdad…
MP Mona al-Obeidi revealed on Thursday that there is serious parliamentary activity underway to draft a budget with a comprehensive “economic vision” based on diversifying energy sources and reducing total dependence on oil revenues.
Al-Obeidi told Al-Maalouma that “the state’s general budget relies almost entirely on oil revenues as its sole source of funding, which has made the Iraqi economy extremely fragile and highly susceptible to any changes in global oil prices.”
She added that “the parliamentary movement aims to change this equation by pushing for the inclusion of provisions in the budget that enhance non-oil revenues, such as activating the agricultural, industrial, and tourism sectors, thus ensuring greater financial stability for the country.”
Al-Obeidi emphasized that “diversifying income sources has become an urgent necessity, not an option, in order to protect the national economy from external shocks,” noting that “Parliament supports these trends to break free from the chronic cycle of oil dependency.”
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