Planning: Iraq's Near-Total Dependence On The Oil Sector Is A Fragile Model That Must Be Abandoned.

 Planning: Iraq's Near-Total Dependence On The Oil Sector Is A Fragile Model That Must Be Abandoned.

 
Energy and Business     Iraq     oil     Basra  2025-06-17 02:36 Shafaq News/ On Tuesday, Sabah Jundi Mansour, Director General of the Economic and Financial Policies Department at the Ministry of Planning, considered Iraq's near-total reliance on the oil sector to secure the country's general budget revenues a fragile model that requires an alternative.
 
This came in a speech he delivered during a specialized consultative session organized by the Ministry of Planning titled "Maximizing Non-Oil Revenues in Iraq," 

as part of the government's efforts to address financial challenges and reduce reliance on oil resources, which constitute one of the most prominent structural challenges hindering the country's path to sustainable development.  

Mansour explained that Iraq's near-total dependence on the oil sector, which accounts for more than 90% of general budget revenues, is one of the most significant structural challenges facing the national economy.  

He added, "Recurring crises in the oil markets, particularly in recent years, have exposed the fragility of this model, necessitating an urgent transition to a more diversified and sustainable economic model."
 
The Iraqi state's continued reliance on oil as the sole source of its public budget
exposes the country to the risk of global crises linked to oil markets.
 
This forces it to cover its deficit through external or domestic borrowing each time.
 
This indicates
     a weakness in the management of public funds and
     an inability to find alternative financing solutions.    
  
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