The Parliamentary Finance Committee has warned of extremely dangerous economic repercussions that could strike Iraq in the coming period, as a result of regional tensions that have overshadowed navigation and oil exports. The committee emphasized that the country is heading
towards a genuine financial crisis due to its near-total reliance on oil revenues to fund the public budget. It pointed out that the halt in exporting approximately 95% of Iraq's crude oil poses a direct threat to the national economy,
especially since export rates were nearing four million barrels per day before the outbreak of the recent crisis. The committee intends to submit a formal request to the government for transparent explanations regarding alternative emergency plans and proposed solutions to
overcome this obstacle. Despite current reassurances regarding the securing of employee salaries, the continued disruption of strategic export routes foreshadows dire consequences for the state's financial structure.
