Professor of economic Economics Ahmed Hithal presented a vision at the monetary situation in Iraq, noting that the overall price range for 2025 suffers from a loss of transparency and readability, mainly in regards to authorities spending, funding, and non-oil revenues, which are the dynamic foundation for economic sustainability.
in the course of his interview with “dinaropinions.com”, Hithal said , “Non-oil sales obtain monetary sustainability and support salaries and the funding trouble, which helps acquire economic boom that supports industry and agriculture and enhances the gross home product, in addition to reduces dependence on oil sales.”
He delivered that “the assurances issued through the Ministry of Finance are not enough to dispel concerns about the finances’s potential to cowl its charges, in particular in mild of geopolitical modifications and fluctuating oil expenses.”
Hithal mentioned that “the Ministry of Finance faces foremost demanding situations associated with its lack of a comprehensive observe of the oil marketplace, and its incapacity to govern customs and non-oil sales,” explaining that “the ministry’s recent statements, which covered stopping bonuses and promotions and lowering spending in authorities departments, monitor important screw ups in making plans and control.”
He delivered, “the general budget suffers from huge deviations in spending, because the deviation for public fees exceeds 25%, investment costs 50%, and non-oil sales 30%.”
The internal authorities debt reached 71 trillion dinars, 40 trillion dinars in want of the central bank on the Ministry of Finance.
“Issuing a new currency is limited via oil reserves, which are the belongings of the Ministry of Finance,” Hudhal explained. “therefore, the significant bank cannot difficulty new foreign money until there is sustainable financial boom supported by means of nearby manufacturing in enterprise and agriculture.”
He concluded by means of saying, “Geopolitical adjustments and volatile oil charges, in addition to the shortage of agree with among the government, society and the personal sector, increase the demanding situations going through the general finances, which calls for critical measures to improve its performance and repair self assurance.”
