Former MP Mohammed Ibrahim warned on Thursday that Iraq will face monetary “mines” in the course of the modern-day year, stressing the dearth of a clear financial imaginative and prescient.
Ibrahim stated in an interview with dinaropinions.com, “Iraq does not have a clean imaginative and prescient on the economic and monetary side till these days, and this creates predominant problems in mild of the demanding situations facing the united states of america, which aren’t clean and can be described as mines,” indicating that “its repercussions will seem at some stage in the current year, while the price range has now not been surpassed yet and there are ongoing amendments to it.”
He delivered, “The expected decline in oil expenses inside the coming period will burden Iraq financially, because it has already decreased its oil production primarily based on the choices of the OPEC Plus institution of oil-producing countries,” noting that “there are numerous burdensome paragraphs within the monetary budget that the authorities will ought to put in force during the present day year, in particular with the approach of the parliamentary elections.”
it’s miles noteworthy that the Ministry of Finance denied the life of a scarcity in monetary liquidity after the delay in disbursing salaries to many authorities departments, even as political forces and economic professionals warn towards continuing to rely on oil as the only aid.