Economist: Iraq urgently needs to form a government and approve the 2026 budget to secure salaries.
Economic expert Nabil Al-Marsoumi emphasized on Thursday the need for Iraq to form a new government with full powers to address the country’s economic situation, noting the necessity of preparing the 2026 budget to cover salaries and services.
Al-Marsoumi stated in a post on social media, which was monitored by the Information Agency, that “despite Iraq continuing to export oil through the Strait of Hormuz until March 8th, oil revenues did not exceed $1.9 billion, equivalent to approximately 2.5 trillion dinars. This means that Iraq needs to secure an additional 5 trillion dinars just to pay salaries for the fifth month.”
He stressed “the necessity of expediting the formation of a fully empowered Iraqi government and preparing the 2026 budget to provide the government with the legal basis for internal and external borrowing, discounting transfers at the Central Bank of Iraq, and taking other measures to meet the basic needs of the Iraqi people, especially those related to salaries, social welfare, and essential services such as water, electricity, and others.”
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