Nabil Al-Marsoumi is warning that Iraq is running out of time to fix its financial situation—and that forming a strong government is now urgent.
He says the country needs a fully empowered government as soon as possible, especially to prepare the 2026 budget and deal with growing economic pressure.
To show how serious things are, he pointed to recent oil revenues. Even though Iraq continued exporting oil through the Strait of Hormuz until March 8, total revenue reached only about $1.9 billion—around 2.5 trillion dinars.
That’s not enough.
According to him, Iraq still needs about 5 trillion dinars just to cover salaries for one month. This highlights a major gap between what the country earns and what it needs to spend.
Because of this, Al-Marsoumi stressed that the next government must act quickly. It needs to finalize the 2026 budget so it has the legal tools to deal with the crisis—like borrowing money, managing cash through the Central Bank, and taking emergency financial steps.
But it’s not just about numbers. The real concern is people’s daily lives.
The government needs to make sure salaries are paid, social support continues, and basic services like water and electricity don’t collapse. Without a clear plan and strong leadership, these essential needs could be at risk.
In simple terms, Iraq is facing a growing financial squeeze. And without a new government and a clear budget, it could become much harder to keep the system running smoothly.
