Rentier Economy: Current Challenges and Strategic Options for Economic Diversification
Low liquidity in any country is one of the most significant challenges facing countries or companies dependent on oil revenues, especially when oil prices decline. Liquidity means the availability of cash to cover short-term obligations, and its decline can lead to a financial deficit and economic turmoil.
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Searching for alternatives
Member of Parliament Hussein Arab explained to Al-Masry that “if the price of oil drops today, the country has alternatives, such as the non-oil sector, which we can activate more, and thus activate the productive dinar, as well as the tax and customs sector, and other sectors.” He indicated that “the sectors of domestic currency recycling, the productive dinar, and the electronic dinar are all matters that are included in the government’s plans to study.”
Activating sectors
For his part, economic expert Sadiq Abdul Rahman told Al-Masry that “the country’s economy should not remain rentier, as there are many components through which Iraq can obtain numerous financial resources, one of which is the insurance sector, which is a productive sector all over the world.” He explained that “if we make insurance mandatory for many things in the country, as exists all over the world, then without a doubt, we will obtain a high economy from this insurance, in addition to the financial departments such as tax, customs and traffic, all of which are departments that we can activate to provide us with high resources that will be a tributary to the oil sector.”
human element
He added, "Iraq has an important element, which is the human element, and if we invest in it, it will give us high revenues and energy resources. In other words, why do we bring in foreign labor from abroad when our local human elements are available? Local labor is certainly the capital that provides us with income and production in the country."
Import risks
In turn, Abdul Hussein Al-Ziyadi, a member of the Private Sector Development Authority, told Al-Masry that “there is indeed a shortage of liquidity, or we feel that there is a financial crisis in the country, and this financial crisis is actually a result of the country being an importer and not an exporter. This means that, for example, if the country’s budget is 100 billion dinars, and in return the country imports a total of 87 billion dollars, this is an issue that has not happened in any country in the world.” He stressed that “this planning is considered wrong, because the state is supposed to rely on the Iraqi private sector (and support the Iraqi private sector so that it produces, so that it innovates, so that people work, so that the poverty gap is closed, and the country becomes stable, successful, and developed, and every citizen gets his rights.”
import regulation
Al-Ziyadi pointed out that “the biggest mistake the state has made since the fall of the former regime until now is opening the market to global markets, and imports have become in the hands of anyone and everyone. Every country in the world has an import system, meaning a regulated import system, because imports are a cancerous substance that eats away at the body of the country that imports or depends on imports. This process must be addressed by the state, and it must think about giving the money it imports with to the Iraqi private sector, and the private sector is capable of doing so, and we have successful experiences in this field.”
Real challenges
According to economic and financial experts, it is clear that excessive reliance on oil revenues poses a real challenge to achieving financial balance and sustainable development. Previous experience has shown that global market fluctuations cannot be controlled, which necessitates the adoption of more diverse and flexible financial and economic policies.
Economist: Iraq enjoys financial stability thanks to the Central Bank's reserves.
Economic advisor, Mazhar Mohammed Saleh, confirmed on Wednesday that financial stability in Iraq is solid, and no worrying indicators have yet emerged, despite the external challenges and geopolitical shocks facing the world.
Saleh told Al-Maalouma that "financial concerns are mainly due to the repercussions of external shocks such as trade wars and energy price fluctuations, but Iraq has proven its resilience thanks to the Central Bank's foreign currency reserves."
He added that "monetary policy plays a pivotal role in stimulating the domestic financing market and supporting public liquidity, ensuring the implementation of government development programs and infrastructure projects, which is directly reflected in stimulating the labor market and enhancing economic activity."
He pointed out that "the strong coordination between fiscal and monetary policies dispels any fears of recession and even enhances the sustainability of economic stability, in light of low inflation and unemployment rates, high growth rates, and the launch of the social market strategy that balances protecting livelihoods and supporting investment and reconstruction."
The Parliamentary Finance Committee sets the date for disbursing retirees' salaries.
MP Mustafa Al-Karawi, a member of the Parliamentary Finance Committee, set the date for disbursing retirees' salaries today, Wednesday.
Al-Karawi told Mail, "Retirees' salaries will be disbursed next Sunday if financial liquidity is available."
He added, "Tomorrow, Thursday, is the anniversary of the Prophet's birthday, which is an official holiday. Salaries will be postponed until next Sunday, and may be postponed if cash is not available."
It's worth noting that the government has postponed the disbursement of retirees' salaries without providing any explanation. This action has prompted calls for the government to disburse the salaries, which it had not previously delayed.
An economist warns of high prices and the weakening purchasing power of citizens.
Economic researcher Diaa Abdul Karim warned on Wednesday that rising prices, especially of consumer goods and foodstuffs, will weaken citizens' purchasing power in the absence of real reforms in the salary file.
Abdul Karim said, "After raising the dollar exchange rate in recent years, the government has not provided practical solutions to address the decline in the value of salaries and wages in the public and private sectors." He
added, "The failure to review the salary scale or increase wages, coinciding with the decline in the value of the dinar against the dollar, has reduced citizens' purchasing power, whether for goods or foodstuffs."
He pointed out that "the weakness of salaries in covering daily needs is due to several factors, most notably the cost of purchasing electricity, the high prices of food and drinking water, in addition to the exorbitant wages of doctors and medicines," stressing that "the government is capable of setting controls to reduce these costs, thus easing the burden on citizens."
An economist warns the Iraqi government of a "serious crisis" related to securing salaries.
Economist Ahmed Saddam warned on Wednesday that any drop in global oil prices would cause the Iraqi government to face a serious salary crisis. He also reassured retirees that their salaries are currently fully secured and that the delay in disbursement is purely an administrative issue.
Saddam told Shafaq News Agency, "The government is focusing heavily on operating expenses, especially salaries (employees, retirees, and social protection), and this comes at the expense of investment expenses."
He pointed out that "if oil prices decline, as a result of the current US administration's attempts to pressure the price of a barrel to fall to $55-$60, the financial crisis in Iraq will worsen. This is because 70% of the Iraqi budget goes to salaries and current expenditures, which means that any drop in oil prices will have a direct impact on liquidity."
He added, "There are indications of pressure from the US Federal Reserve regarding oil smuggling, counterfeiting, and the mixing of Iraqi oil with other oils. These concerns relate to potential restrictions on Iraqi oil exports or dollar transfers between Iraq and the United States."
"If this happens, cash flow will be negatively impacted, further complicating the country's economic crisis," Saddam continued.
He pointed out that "the issue of salaries, especially for retirees, is currently secure, and there is no immediate liquidity crisis threatening them. The problem is primarily administrative and organizational rather than financial."
He warned that "the continued fragility of the situation and its complete dependence on oil will make any decline in oil prices expose Iraq to a greater financial crisis, especially with the swelling salaries item in the general budget."
KRG's 'MyAccount' Digital Salary Project Surpasses 900,000 Registrations
The KRG's "MyAccount" digital salary project has surpassed 900,000 registered employees, a major milestone in its push to modernize banking and enhance transparency. The initiative is a key part of the government's reform agenda, praised for its efficiency and positive impact.
The Kurdistan Regional Government's (KRG) landmark "MyAccount" initiative, a cornerstone of its ambitious public service modernization and financial transparency agenda, has reached a major milestone, with the number of registered government employees and salary recipients now exceeding 900,000.
This significant achievement marks a pivotal moment in the KRG's strategic shift away from a cash-based economy and toward a secure, efficient, and modern digital banking ecosystem for its public sector workforce.
In a release issued on Wednesday, September 3, 2025, the KRG announced that a total of 900,600 government employees have successfully registered for the program. The statement described the project as a "major effort by the Kurdistan Regional Government to digitalize banking services and reduce reliance on cash, moving towards the development of modern public services."
This transition is being meticulously implemented in full coordination with the Central Bank of Iraq and involves a partnership with seven private banks and their extensive branch networks. The ultimate goal of the project is to provide secure digital salary services to more than one million beneficiaries.
The registration data reveals widespread adoption across the Kurdistan Region.
The provincial breakdown shows that Erbil leads with 401,815 registered beneficiaries, followed by Sulaimani with 278,630, and Duhok with 220,155. The tangible impact of this digital transition is already being felt on a massive scale.
This month alone, more than 465,000 beneficiaries received their salaries digitally through a rapidly expanding network of nearly 450 Automated Teller Machines (ATMs) strategically placed across the region. In a further expansion of the program, thousands of pensioners are also currently participating in a pilot phase to begin receiving their pensions through the same digital system.
The "MyAccount" project, officially announced by KRG Prime Minister Masrour Barzani in February 2023, is a central component of the ninth cabinet's comprehensive reform strategy. It is designed not only to modernize banking but also to enhance financial inclusion, increase transparency, and streamline government operations.
The initiative has garnered international praise for its vision and execution. During a meeting in Erbil on August 31, the newly appointed U.S. Consul General, Wendy Green, specifically praised the KRG's reform efforts, highlighting the "MyAccount" digital initiative alongside the "Runaki" 24-hour electricity program as particularly significant achievements.
The project's impact extends far beyond simple administrative efficiency, reaching deep into the fabric of public life and directly enhancing other critical sectors, most notably education.
As previously reported by Kurdistan24, KRG Minister of Education Alan Hama Saeed identified the "MyAccount" initiative as one of three key government projects that are fundamentally revolutionizing the education sector. He described the previous salary distribution system as archaic and fraught with risk, where a school principal and other staff members would have to physically collect large sums of cash from a bank.
"Previously, a school principal and two other people would have to visit the bank and bring the salary money in a sack. If the money was short, it would create problems for them," the minister explained. The "MyAccount" project has eliminated this precarious and inefficient practice, empowering educators with financial autonomy and security. "But now, the teacher has their own account and receives the salary themselves," he noted, framing it as one of the most impactful projects for the dignity and professionalism of the teaching workforce.
The successful implementation of "MyAccount" is a testament to the KRG's strategic planning and its commitment to meeting rigorous international standards.
The project adheres to strict financial regulations, excluding any sanctioned institutions and requiring participating banks to make substantial investments in their retail infrastructure, including the deployment of ATMs and Point of Sale (POS) devices, as well as enhancing customer service to ensure a seamless transition for all beneficiaries.
As the program continues to expand toward its goal of including over one million public sector employees and pensioners, it stands as a clear and powerful example of the KRG's forward-looking governance. By building a modern, transparent, and secure financial infrastructure, the "MyAccount" project is not only improving the daily lives of hundreds of thousands of citizens but is also laying a critical foundation for the Kurdistan Region's long-term economic stability and development.
For further information, citizens are encouraged to visit the official website at this link or contact the dedicated service center at 1991.
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Al-Sudani announces the signing of memoranda of understanding with Oman during his visit.
Prime Minister Mohammed Shia al-Sudani announced on Wednesday that he will sign memoranda of understanding in various fields between Iraq and Oman during his official visit to the Sultanate.
In a press statement at Baghdad International Airport prior to his departure to Oman, Al-Sudani said that the visit was preceded by joint preparations and meetings of several committees, which resulted in the preparation of a number of memoranda of understanding in the fields of energy, tourism, oil storage and refining, industry and localization of the defense industry, maritime transport and port management, scientific research and educational cooperation, avoidance of double taxation, housing and urban planning, youth and sports, trade exchange and export development, enhancing competition and preventing monopoly, radio and television cooperation, communications, and understanding between the Federation of Chambers of Commerce and the Oman Chamber of Commerce and Industry.
The Prime Minister pointed to the stability in Iraq, its clear and principled positions in the regional arena, and its role in stabilizing the region. He also highlighted the urban and development boom it is witnessing, in which Omani and Arab brothers will play a prominent role in promoting development, participating in investing in available opportunities, and building long-term partnerships.
Al-Sudani called on the Omani private sector to cooperate with its Iraqi counterpart in all fields and create job opportunities for young people, as our youth sector is brimming with experience, strength, and a drive toward a promising future and successful experiences.
Baghdad, Erbil agree on ASYCUDA customs system and unified company ID
The Iraqi federal government and the Kurdistan Regional Government have agreed to implement the ASYCUDA customs system and adopt a unified economic number for companies, aiming to settle years of disputes that have slowed trade and investment.
The Kurdistan Region’s Ministry of Trade and Industry said the meeting brought together directors general of company registration, industrial development, customs, and quality control, along with representatives from the Interior Ministry and Sami al-Sudani, adviser to the federal prime minister.
Officials decided to enforce the 14-digit Unified Economic Number as a prerequisite for using ASYCUDA services. Companies in the Kurdistan Region will no longer need a separate tax ID, and will now be able to conduct import and export activities under the same conditions as firms in central and southern Iraq.
Economist: Prices are eating up Iraqis' salaries and weakening their purchasing power.
Economic researcher Diaa Abdel Karim warned on Wednesday that rising prices, particularly of consumer goods and food, will weaken citizens' purchasing power in the absence of genuine salary reforms.
Abdul Karim told Al-Maalouma, “After raising the dollar exchange rate in recent years, the government has not offered practical solutions to address the declining value of salaries and wages in the public and private sectors.”
He added, "The failure to review the salary scale or increase wages, coupled with the decline in the value of the dinar against the dollar, has reduced citizens' purchasing power, both for goods and food."
He pointed out that "the low salaries that cover daily needs are due to several factors, most notably the cost of purchasing electricity, the high prices of food and drinking water, in addition to the exorbitant wages of doctors and medicines," stressing that "the government is capable of setting controls to reduce these costs in a way that eases the burden on citizens."
Iraq's financial sector struggles to modernize
Iraq is facing renewed debate over banking reforms as economists warn that decades-old laws are constraining both the banking sector and the wider economy.
Economist Abdulrahman Al-Sheikhli highlighted to Shafaq News that despite three decades since the political system changed, lawmakers have largely ignored economic laws, stressing that many of these regulations are no longer suited to the current stage.
He pointed to Law No. 111 of 1969, still in effect, which imposes a fine of 100 dinars (around 7 US cents), underscoring the need to modernize legislation to meet current economic requirements.
Highlighting that Article 28 of the Banking Law prohibits dealing in foreign currencies, Al-Sheikhli warned that it undermines the operations of banking institutions.
"We need to review all economic and banking laws, including those introduced by Paul Bremer during the US invasion of Iraq in 2003," he added, stressing that failure to do so could further impede growth.
Other experts note that passing entirely new legislation to reform the banking system would be time-consuming, suggesting it is more practical to update existing laws under the authority of the Iraqi government and the Central Bank of Iraq (CBI).
Reflecting on these challenges, Mudher Muhammad Saleh, economic advisor to the prime minister, explained to Shafaq News that "now is not the appropriate time to amend banking laws, as the legislative process is slow and rigid," adding that comprehensive legal reform could and should be pursued in the future.
Earlier, the CBI contracted the consulting firm Oliver Wyman to conduct reviews and studies of the Iraqi banking sector as part of a plan to modernize and develop the industry.
Economic watchdog Eco Iraq, however, cautioned that Iraq’s new banking regulations could marginalize local investors and open the door to foreign dominance of the financial sector.
***Details of the Baghdad-Erbil meeting on funding Kurdistan Region employees' salaries for July.
An informed source revealed, today, Wednesday (September 3, 2025), the details of the last meeting that took place between Finance Minister Taif Sami and the Kurdistan Regional Government delegation that visited Baghdad, regarding the July salaries of the region’s employees.
The source told Baghdad Today, "The minister said we are ready to send the seventh month's salary, but we have basic conditions for sending the salary."
She added, according to the source, that "the July salary will not be sent unless these conditions are met. The first condition is the export of oil from the Kurdistan Region and the delivery of the agreed-upon quantity daily."
She pointed out that "the second condition is that we asked them to hand over 50% of total local revenues to Baghdad, including revenues from ports, customs, taxes, traffic, health, water, and electricity."
The Kurdistan Regional Government's Ministry of Finance and Economy announced last Monday that June salaries would begin distributing, beginning Tuesday and ending Thursday.
A statement from the Ministry of Finance received by Baghdad Today stated that "after the funds arrive from Baghdad, the process of disbursing employees' salaries will continue for three days."
The June salary disbursement comes after a delay of more than 80 days, amidst significant hardship for employees and other sectors, and a near-total paralysis in markets across the region's cities.
The issue of salaries and oil has been the subject of ongoing tensions between Baghdad and Erbil for years. The federal government links the transfer of funds to the delivery of local revenues and oil produced in the region, while foreign companies adhere to more complex financial and procedural conditions. This has led to recurring crises despite attempts to reach political agreements.
Trade: German and Chinese companies will open car production lines in Iraq.
The Ministry of Trade confirmed on Wednesday that it had reached an agreement with international companies from Germany, China, and Brazil to open car production lines in Iraq. The ministry noted that the vehicles produced will run on natural gas and will be available on installments .
The ministry's official spokesman, Mohammed Hanoun, told the Iraqi News Agency (INA), "The project to open global car assembly lines in Iraq is proceeding according to technical and regulatory procedures with multinational companies," noting that "the project represents a step towards the slogan 'Made in Iraq' and aims to employ local workers and provide economical and environmentally friendly cars ."
He added, "The matter was not delayed as some believe. An official visit was organized, headed by the Minister of Trade and a number of officials, to several countries. Agreements were reached with Brazilian, German, and Chinese companies to open branches in Baghdad and other governorates ."
He added, "These companies have signed memoranda of understanding and bilateral agreements to open assembly lines in Iraq, as part of industrial and economic cooperation. Special sites have been prepared for the project in southern Baghdad and other areas of the country, pending the completion of technical procedures for the companies ."
Hanoun explained that "the project will achieve multiple goals, most notably employing no less than 50% of the Iraqi workforce, developing the national industry, and the possibility of exporting a portion of the production if large quantities are available to cover the local market ."
He explained that "the cars that will be assembled in Iraq will be advanced, from various sources, environmentally friendly, and run on gas as an alternative to gasoline. They will also be economical, allowing citizens with limited income to purchase them on installments with very low interest rates ."
Baghdad and Erbil are at ground zero. The UN representative confirms to Rudaw: Salaries must continue.
US Congressman Joe Wilson Introduces Amendment Supporting Kurdistan Region
“The United States supports providing the KRG with the necessary security measures so that the KRG can defend itself from attacks by Iran and its puppet militias against the KRG and its energy resources,” the amendment reads.
U.S. Representative Joe Wilson of South Carolina has introduced an amendment affirming the Kurdistan Regional Government (KRG) as a vital strategic partner of the United States.
The proposed amendment, shared by Wilson on his official social media platform X, emphasizes the importance of U.S.-Kurdistan Region relations while calling on the Iraqi government to halt destabilizing measures against the Kurdistan Region.
The document states that Baghdad must end its efforts to block salaries and payments to Kurdistan Region public employees, as well as attempts to hinder the Region’s ability to develop and export its petroleum resources. It further calls for an end to attacks carried out by Iraqi militias funded by the Iraqi government.
“The United States supports providing the KRG with the necessary security measures so that the KRG can defend itself from attacks by Iran and its puppet militias against the KRG and its energy resources,” the amendment reads.
Wilson’s move reflects growing concern in Washington over tensions between the Kurdistan Region and the federal government in Baghdad, as well as Iranian influence in Iraq.
If adopted, the amendment would reinforce U.S. political and security backing for the Kurdistan Region at a time of heightened regional challenges.
The delayed salary payments have caused significant hardship for public sector employees in the Kurdistan Region, exacerbating financial instability and deepening mistrust between the KRG and the federal government. This ongoing dispute underscores the urgent need for a sustainable resolution to ensure economic stability and uphold constitutional obligations.
In July, over 20 drone attacks targeted cities throughout the Kurdistan Region.
Nine of these attacks have specifically targeted vital oil fields, including Khurmala, Khor Mor, Sarsink, Atrush, Bai Hassan, Peshkhabur, Tawke, and facilities operated by Hunt Oil. The other attacks have been directed at security forces and airports within the region.
U.S. support for the KRG is crucial for maintaining stability in the region, given its strategic importance in countering regional threats. By reinforcing political and security ties, the United States can help ensure that the KRG remains resilient against external pressures and internal challenges. This partnership not only supports the KRG's autonomy but also contributes to broader regional security and energy stability.
An amendment to a US law designates the Kurdistan Region as a "strategic partner" and calls on Baghdad to cease pressure.
On Wednesday, US Congressman Joe Wilson introduced an amendment to the National Defense Authorization Act ( NDAA ) that designates the Kurdistan Regional Government as a "vital strategic partner" of the United States.
The text of the amendment, seen by Shafaq News Agency, stipulates that the Iraqi government must "cease its destabilizing efforts," including suspending the salaries of KRG employees and preventing it from developing and exporting its oil resources, in addition to what it described as "attacks by Iraqi militias."
The amendment also called for US support to provide the KRG with the necessary security measures to enable it to "defend itself against attacks by Iran and its militias against the region and its energy resources."
Wilson said in a post on the X platform that he is "grateful for sponsoring this amendment to support the Kurdistan Regional Government as a vital strategic partner of the United States."
provisions that reflect Congress' positions on foreign policy issues It should be noted that the amendment comes within the framework of the annual defense bill, which sets the Pentagon's budget and policies and often includes
US to Kurdistan Regional Government Officials: We emphasize transparent governance and reform
The commander of the US Central Command visited Kurdistan Regional Government (KRG) President Nechirvan Barzani and Prime Minister Masrour Barzani and stressed the need to defeat ISIS and promote regional stability, while stressing the importance of transparent governance and reform.
Consul General Green received the Commander of the US Central Command, Admiral Brad Cooper, in Erbil on Wednesday, the US Consulate in Erbil said in a statement. Admiral Cooper met with Kurdistan Regional Government President Nechirvan Barzani and Prime Minister Masrour Barzani.
Cooper stressed the United States' commitment to defeating ISIS and promoting regional stability, while stressing the importance of transparent governance and reform.
Admiral Cooper thanked the Kurdistan Region for its role in the fight against ISIS and reaffirmed the US commitment to support Iraq and the Kurdistan Region as an ally His country attaches great importance to these relations.
For his part, the Presidency said that the commander of the US Central Command, pointed to the importance of the Kurdistan Region as an ally and partner of the United States in the region and expressed his country's support for security and stability in the Kurdistan Region.
The Houthis announce the launch of "double" missile attacks targeting Israel.
The Yemeni armed forces affiliated with the Houthi group announced on Wednesday the implementation of a military operation described by military spokesman Yahya Saree as a qualitative, dual operation.
Saree said in a statement seen by Al-Kalima News that "the operation was carried out using two ballistic missiles; one of them was the 'Palestine 2' fission missile with multiple warheads, which was being used for the second time, and the other was the 'Dhu al-Fiqar' missile."
He added that "the operation targeted sensitive targets in the occupied Jaffa area," stressing that it "successfully achieved its objectives, causing millions of Israelis to flee to shelters and suspending operations at Lod Airport."
The statement said, "This operation is a victory for the oppressed Palestinian people and a response to the crimes of genocide and starvation committed by Israel against Gaza."
Fuad Hussein receives Iran's Deputy Foreign Minister to discuss bilateral relations and regional and international developments.
During the meeting, the two sides discussed bilateral relations and ways to enhance them to serve common interests, in addition to reviewing current regional and international developments.
The Iranian official gave a presentation on the actual wartime conditions during the Israeli aggression against the Islamic Republic and its impact on Iranian politics and society. He emphasizes that these conditions were reflected in the reshaping of security and military concepts, as well as the political approach to Iran's international relations.
The two sides also discussed the outcomes of the Iranian-European negotiations and the ongoing dialogue with the Troika countries (Britain, France, and Germany), in addition to discussing the positions presented in the UN Security Council, particularly those related to the Chinese and Russian roles in issues related to Iran.
Government advisor: The three-year budget paves the way for economic growth of approximately 5% annually.
The Prime Minister's Advisor for Economic Affairs, Mazhar Mohammed Saleh, described the approval of the three-year budget on Wednesday as a "qualitative shift" in public finance management, providing a medium-term vision for government spending and breaking the traditional cycle of haphazard annual budgets.
Saleh told Shafaq News Agency, "This trend has created a more stable environment for public and private investment, and has enhanced the ability to implement strategic projects continuously without interruption or annual re-planning."
He pointed out that "the gradual reforms, consistent with the government's program, represent significant steps toward diversifying the economy and moving away from its near-total dependence on oil revenues."
He added, "The new tax policies, the digital transformation of tax collection, and the reconsideration of support for some sectors have formed the nucleus for real economic reform."
He stressed that "the three-year budget represents an important opportunity to restructure the Iraqi economy, but it is not a guarantee in and of itself. Rather, it requires effective implementation, strict oversight, and genuine coordination between the central government and the governorates to ensure that the fruits of this policy actually reach citizens within the framework of sustainable development and the 2024-2028 National Development Plan."
Saleh emphasized that "implementing the three-year budget according to the established timetables will lead to an improvement in the real growth rate to approach 5% annually. Job opportunities will also increase, particularly in the governorates that will witness major development projects. However, this depends on the speed and efficiency of spending, as well as combating administrative and financial corruption."
Saleh concluded by saying, "The three-year budget is not just numbers on paper. It is a real tool for bringing about tangible change in the lives of Iraqi citizens, and we hope these policies will translate into real and sustainable development across the country."
