Mazhar Muhammad Salih, financial advisor to the Prime Minister, said on Tuesday that Iraq’s current policies are strong enough to keep salaries and social welfare payments running without interruption.
He explained that, despite global economic uncertainty and rising geopolitical tensions, the government has a clear plan to protect people’s incomes and maintain stability.
According to him, this plan depends on three main sources of revenue.
The first is increasing non-oil income. This means improving how the government collects money from taxes and services, especially by expanding electronic payment systems. The goal is to reduce Iraq’s heavy reliance on oil.
The second source is boosting oil exports. Iraq plans to expand exports through both land and sea routes, including through neighboring countries when possible. This comes at a time when global oil prices have risen sharply, helping increase government revenues.
The third source involves coordinated financial policies. This includes working closely between monetary and fiscal authorities, supported by strong foreign currency reserves. The aim is to keep the economy stable and ensure regular payments like salaries, pensions, and welfare benefits.
Salih stressed that these combined steps are designed to protect citizens’ monthly income and maintain social stability.
In short, Iraq is relying on a mix of higher non-oil revenue, stronger oil exports, and careful financial management to stay resilient—even during global economic shocks.
