An Iraqi lawmaker says the country’s financial problems didn’t happen overnight—they’ve built up over years.
MP Basim al-Gharabi blamed successive governments for failing to create a long-term economic plan. He said this lack of planning has left Iraq exposed to shocks, especially during times of crisis.
According to him, relying too heavily on a limited number of income sources has put the economy in a risky position.
He also pointed out that ongoing tensions in the Middle East are making things worse, directly affecting Iraq’s economy.
Al-Gharabi said the government now needs to act quickly—by diversifying income sources and supporting productive sectors instead of depending on the same revenues.
He added that fixing the situation will require clear, realistic planning based on solid economic policies, so Iraq can stay stable even when the region faces uncertainty.
