Mohammed Al-Bayati, a member of parliament, says Baghdad is going through a serious money problem because of the ongoing war in the region.
He explained that Iraq depends heavily on selling crude oil to earn money. That money is what the government uses to pay salaries, run public services, and manage everyday expenses. But right now, most of that income has been cut off.
According to Al-Bayati, Iraq has lost around 85 to 90 percent of its revenue. The oil exports that are still moving through Turkey’s port of Ceyhan are only bringing in about 7 to 10 percent of what the country actually needs. That’s a huge gap, and it could make the coming months very difficult for the country.
He also said this situation should be a wake-up call. Iraq needs to stop depending so much on oil alone. Instead, it should build a more balanced economy and find different ways to export oil. That way, the country can stay stable and avoid this kind of crisis in the future.
