FRANK26 CC VIDEO : 🔥 IRAQ MONETARY REFORM UPDATE: Political Obstacles, Public Protests, and the Battle Over the Iraqi Dinar

 🇮🇶 January 2026 Iraq Update: A Monetary Reform Ready — But Politically Blocked

In a January 4, 2026 video update, analyst Frank26 delivers a comprehensive overview of Iraq’s monetary reform, political instability, and growing social unrest. While technical preparations for a new Iraqi dinar exchange rateappear complete, political interference continues to delay its release.

This update highlights a critical reality:
👉 The delay is no longer economic — it is political.

---

💰 Iraqi Dinar Revaluation: Ready but Delayed

Frank emphasizes that the monetary reform infrastructure is fully prepared, yet the new exchange rate has not been released.

According to his analysis:

• The Central Bank of Iraq (CBI) has completed the technical steps

• The financial system is prepared for change

• The delay is driven by power struggles and political influence

This reinforces long-held concerns that internal control, not readiness, is the main obstacle.

---

🏦 Central Bank of Iraq & Governor Ali Alak

Why Is Ali Alak Under Pressure?

CBI Governor Ali Alak is portrayed as the central figure blocking reform.

Key points raised by Frank26:

• Alak was appointed under former Prime Minister Nouri Maliki

• He is seen as politically loyal rather than independent

• Parliament has raised concerns over:

  • Exchange rate instability

  • Inflation and market stress

  • Prolonged delays in reform execution

Legal & Political Developments

• The Supreme Judicial Council has reportedly approved Alak’s retirement due to exceeding the legal age limit

• Parliament is increasingly pushing for his removal

• Public protests are calling for accountability and leadership change at the CBI

---

🧩 The Maliki Factor: Power, Influence, and Reform Resistance

Former Prime Minister Nouri Maliki is described as a key behind-the-scenes power broker.

Frank warns:

• Maliki is attempting to regain influence

• Loyalists allegedly remain embedded in financial institutions

• Continued influence could:

  • Increase corruption

  • Undermine sovereignty

  • Delay economic recovery

The concern is not just reform delay — but long-term institutional damage.

---

🏛️ Government Formation: The Missing Piece

Why Government Formation Matters

Iraq’s newly elected parliament is still finalizing:

• Appointment of a President

• Confirmation of a Prime Minister

Frank identifies Prime Minister Sudani as the best-case scenario to:

• Support monetary reform

• Stabilize governance

• Reduce political interference

➡️ Without a fully seated government, reform cannot move forward.

---

🚨 Economic Pressure & Nationwide Protests

Public frustration is intensifying across multiple regions, including:

• Electricity and water shortages

• Rising prices and inflation

• Job insecurity, especially among youth

• Security incidents, including attacks near gas fields

Growing Instability

• Protests reported in several cities

• Foreign contractors have been targeted, raising investor concerns

• Public trust in leadership continues to erode

---

🌍 External Influences & Geopolitical Pressure

Frank contrasts two external dynamics:

• Regional influence viewed as resisting reform

• U.S. pressure, portrayed as supportive of accountability and transparency

He references Donald Trump as a symbol of strong external pressure capable of accelerating reform by forcing institutional accountability.

---

⭐ Featured Snippet: Key Insight

Why hasn’t the Iraqi dinar revaluation happened yet?
The Iraqi dinar revaluation is delayed primarily due to political interference, leadership disputes at the Central Bank of Iraq, and incomplete government formation — not because of technical or economic unpreparedness.

---

❓ Q&A: Iraq Monetary Reform Explained

Q: Is Iraq’s monetary reform technically ready?

A: According to Frank26, yes. The delay is political, not technical.

Q: Who is blocking the release of the new exchange rate?

A: CBI Governor Ali Alak is identified as the main obstacle, allegedly due to political loyalty.

Q: Why is government formation so important?

A: A confirmed president and prime minister are required to enforce reform and remove blocking officials.

Q: Are protests affecting the reform timeline?

A: Yes. Growing unrest increases pressure but also raises instability risks.

Q: Is there optimism for change?

A: Cautious optimism remains if leadership changes occur quickly.

---

📅 Timeline Snapshot

Timeframe	Event
Early Jan 2026	Dinar exchange rate fluctuates slightly; no revaluation
Recent	Parliament reelected; pressure to remove CBI governor
Next Few Days	Possible vote on president candidates
Ongoing	Protests over services, prices, and unemployment
Future	Potential removal of Ali Alak; reform activation

---

🌱 Final Reflection from Frank26

Frank closes with a message of faith, perseverance, and patience, emphasizing that reform is “pregnant with many things” — ready to succeed once political barriers fall.

A personal reflection on growth and nurturing amid struggle serves as a metaphor for Iraq’s current journey: progress delayed, not denied.

---

🌐 Join Our Platforms for Daily Updates

🔗 Blog: https://dinarevaluation.blogspot.com/
📢 Telegram: https://t.me/DINAREVALUATION
📘 Facebook: https://www.facebook.com/profile.php?id=100064023274131
🐦 Twitter/X: https://x.com/DinaresGurus
🎥 YouTube: https://www.youtube.com/@DINARREVALUATION

---

🔥  Hashtags

#IraqiDinar #MonetaryReform #IraqUpdate #Frank26
#CBI #AliAlak #IraqProtests #EconomicReform
#DinarRevaluation #MiddleEastEconomy #IraqPolitics
#CurrencyReform #BreakingNews #GlobalFinance

Summary

This video, dated January 4, 2026, features a detailed commentary on the ongoing monetary reform and political-economic situation in Iraq, particularly focusing on the Iraqi dinar and the challenges surrounding its revaluation. The speaker, identified as Frank, provides a prayerful introduction emphasizing faith and strength, before delving into his personal opinion and analysis of current events affecting the Iraqi economy and governance.

• Monetary Reform & Iraqi Dinar Revaluation:
  Frank discusses the highly anticipated monetary reform in Iraq, centered on the revaluation of the Iraqi dinar. He stresses that while preparations for the new exchange rate are complete, the release of this new rate has been repeatedly delayed.

• Central Bank of Iraq (CBI) and Governor Ali Alak:
  The governor of the CBI, Ali Alak, is portrayed as a major obstacle to monetary reform. Appointed by former Prime Minister Maliki, Alak is described as a figurehead and a “yes man” who is loyal to Maliki and allegedly impedes the release of the new exchange rate to serve political interests.

  • Parliament has grown concerned about Alak’s management, specifically regarding exchange rate instability and economic challenges.
  • The Supreme Judicial Council has endorsed a decision for Alak’s retirement due to his exceeding the legal retirement age.
  • There is a growing parliamentary push to replace him, supported by many citizens protesting his continued tenure.

• Political Context and Influence of Maliki:
  Former Prime Minister Maliki is identified as a key political figure exerting influence over the CBI and monetary reform. He is described as attempting to regain power and impede progress to maintain control.

  • The speaker warns that if Maliki and his loyalists regain control, especially through appointments loyal to Iran, it will worsen corruption and destabilize Iraq internally.

• Government Formation and Stability:
  Iraq’s newly elected parliament is in the process of forming a government, with emphasis on the urgent need to appoint a president and prime minister to facilitate reforms.

  • Prime Minister Sudani is considered the best-case candidate to lead the government and support the monetary reform.
  • Formation of a fully seated government is essential to push forward the monetary reform and stabilize the economy.

• Economic and Social Unrest:
  The video details ongoing protests fueled by economic strain, poor public services, rising prices, and political uncertainty:

  • Demonstrations are reported in multiple cities (Barca, Diala, Herbbo), sparked by electricity and water shortages, job insecurity, and security incidents such as attacks on gas fields.
  • Public frustration is growing, especially among youth and unemployed populations, regarding the slow pace of reforms and lack of tangible economic improvements.
  • Foreign contractors, including Americans, have been targeted by protesters, signaling deteriorating investor confidence.

• Regional and External Influences:
  Iranian influence is repeatedly cited as a negative force (“Iranian cockroaches”) opposing reform and stability in Iraq.

  • The speaker contrasts Iranian-backed elements with the influence of the United States, specifically referencing Donald Trump as a powerful figure supporting reform and accountability.

• Outlook and Call to Action:
  Frank urges Iraqi citizens to be bold and proactive in demanding accountability, particularly pressuring Ali Alak to release the new exchange rate.

  • He expresses confidence that if the government is properly formed and external pressure (notably from the U.S.) is applied, obstacles such as Ali Alak will be removed quickly.
  • The monetary reform is described as “pregnant with so many things” and ready to succeed once political hurdles are cleared.

Timeline of Events and Developments

Timeframe	Event/Development
Current (Early January 2026)	Exchange rate with USD fluctuating slightly; no major changes in the dinar rate yet.
Recent	Iraq working on a 500-megawatt electricity project; economic stability growing but reform delayed.
Recent	Parliament reelected with better representation; growing push to question and remove CBI governor.
Upcoming (Next 3 Days)	Parliament expected to vote on president candidates, which could lead to prime minister appointment.
Ongoing	Protests across multiple cities due to economic strain, poor services, and political uncertainty.
Future (Uncertain)	Expected removal of Ali Alak if he continues to block exchange rate release; potential monetary reform success.

Table: Key Figures and Roles

Name	Role/Description	Political Affiliation/Influence	Impact on Monetary Reform
Ali Alak	Governor, Central Bank of Iraq	Appointed by Maliki; loyal to Iran	Seen as main obstacle delaying reform
Nouri Maliki	Former Prime Minister; influential political figure	Iranian-backed; trying to regain power	Influences CBI and monetary reform negatively
Prime Minister Sudani	Prime Minister candidate considered best-case scenario	Reform supporter	Seen as essential for reform progress
Iraqi Parliament	Newly elected legislative body	Majority favorable to reform	Pressuring to form government, remove Alak
Donald Trump	Former U.S. President (referenced)	External influence supporting reform	Seen as powerful ally against corruption

Key Insights and Conclusions

• Ali Alak is identified as the principal “enemy” of the monetary reform, acting under political pressure from Maliki and Iranian-backed factions to delay or block the new exchange rate. His legal retirement and removal are actively being pursued by parliament and citizens.
• The formation of a full Iraqi government, including appointment of a president and prime minister, is critical to enabling monetary reform and economic stabilization. Sudani is favored to lead this effort.
• Political corruption and Iranian influence remain significant barriers to reform and stability in Iraq. The speaker contrasts these forces with U.S. involvement, suggesting external pressure will aid reform success.
• Social unrest and economic protests are increasing, fueled by inflation, service failures, and political uncertainty, which intensify pressure on leaders to act.
• Frank emphasizes the importance of public engagement, urging citizens to protest peacefully and demand accountability from those obstructing reform, especially Ali Alak.
• Overall, the monetary reform is portrayed as imminent but stalled due to political manipulation rather than technical or economic constraints.The speaker expresses cautious optimism that these barriers will soon be overcome.

Additional Non-Economic Content

• The video opens and closes with spiritual reflections and prayers, highlighting the speaker’s faith and desire for divine guidance in turbulent times.
• The final segment shifts tone to a personal story about a visit to a friend named Dick in Michigan, showcasing a collection of rare air ferns and plants, symbolizing growth and nurturing amid struggle.

Keywords

• Iraqi Dinar, Monetary Reform, Central Bank of Iraq, Ali Alak, Nouri Maliki, Prime Minister Sudani, Iraqi Parliament, Inflation, Protests, Iranian Influence, U.S. Influence, Donald Trump, Economic Stability, Government Formation, Exchange Rate, Corruption, Public Services, Political Unrest

Summary

This video delivers a comprehensive update and opinion-driven analysis on Iraq’s monetary reform, highlighting significant political obstacles, particularly the role of CBI Governor Ali Alak and former PM Maliki, regional influences from Iran, and the urgent need for government formation. It underscores growing public unrest linked to economic hardship and calls for citizen activism and faith-driven perseverance as Iraq navigates this critical period. The monetary reform is ready but remains blocked by entrenched interests, with external and internal pressures possibly tipping the balance soon.

MNT GOAT Iraqi Dinar Shake-Up: Zero Removal Set for December and $0.75 IQD Rate Expected #iqdrate

 

Read also: The Redemption of Zimbabwe’s 100 Trillion Dollar Notes

The House of Representatives publishes the agenda for its second session and moves towards voting on its internal regulations

 The House of Representatives publishes the agenda for its second session and moves towards voting on its internal regulations

The media department of the Iraqi parliament published today, Saturday, the agenda for the second session of the sixth electoral cycle, for the first legislative year, first chapter.

The department stated that the session is scheduled to be held next Monday, January 5, 2026, at 10:00 AM, indicating that the agenda is limited to three main items.

She added that the first paragraph includes voting on the internal regulations of the House of Representatives, while the second paragraph stipulates the formation of a committee that will select members of parliamentary committees in accordance with the provisions of the internal regulations, and the third paragraph is to be dedicated to conducting general discussions.

The Iraqi parliament held its first session of its new term on December 29, during which it voted to elect Hebat al-Halbousi as Speaker of the House, Adnan Faihan as First Deputy Speaker, and Farhad al-Atroushi as Second Deputy Speaker.  link

FRANK26 & OMAR: 🔥 IRAQ BOOTS-ON-THE-GROUND REPORT: Public Anger Rises as Reforms Stall and Purchasing Power Nears

🇮🇶 Iraq at a Breaking Point: What’s Really Happening on the Ground?

The situation in Iraq is escalating rapidly as public frustration intensifies, especially among youth and unemployed citizens. According to a boots-on-the-ground report shared by Frank26, Iraqis believe reforms are moving far too slowly, and patience is running out.

This is not just political noise — this is a population that expects change, demands accountability, and knows what has been promised to them.

---

🔍 Boots-on-the-Ground Insight from OMAR

OMAR:
“Many Iraqis feel reforms are too slow and patience is wearing thin, especially among the youth and the unemployed population.”

Iraq’s younger generation sees little opportunity and growing delays in reforms that were supposed to bring economic relief, job creation, and stability. These delays are fueling anger, protests, and rising distrust toward leadership.

---

💰 Purchasing Power: The Promise Everyone Knows

FRANK:
“They know purchasing power is coming and has been promised to them. They know who says to them it’s coming all the time. And they know the one that pulls the trigger doesn’t open his mouth except to say, ‘I got no plans in doing anything.’”

Read also: The Redemption of Zimbabwe’s 100 Trillion Dollar Notes

This statement reflects a critical reality:

• The people know change is coming

• They know who controls the final decision

• And they are angry about the silence and delays

The Iraqi citizens are not uninformed. They understand monetary reform, expectations around currency value, and the importance of timing.

---

🚨 Protests, Violence, and Political Stalemate

OMAR:
“Television is showing foreign contractors, some of them Americans, being attacked at hotels by protesters. Citizens are very upset.”

Tensions have spilled into the streets. Reports show:

• Attacks on hotels

• Foreign contractors targeted

• Protests increasing in intensity

Why? Because Prime Minister Sudani, voted in on November 11, has still not been officially named, and reforms are stalled.

---

🗳️ Broken Promises & Growing Distrust

“The citizens are upset at the reforms and the lies. This is going sideways fast…”

From the Iraqi perspective:

• Votes were cast

• Expectations were set

• Promises were made

Yet the results have not materialized. This disconnect is dangerous for stability and trust in governance.

---

🌫️ When the Smoke Clears…

FRANK:
“When the smoke clears… everything will be fine.”

Despite the chaos, Frank26 remains confident. History shows that moments of peak pressure often precede major breakthroughs, especially in economic and monetary reform.

The current unrest may be the final catalyst needed to force decisive action.

---

⭐ Featured Snippet: Key Takeaway

Why are Iraqis protesting right now?
Iraqis are protesting due to delayed political reforms, rising unemployment, lack of purchasing power, and frustration over unfulfilled promises following recent elections.

---

❓ Q&A: Iraq Reforms and Purchasing Power

Q: Why is Iraq facing protests now?

A: Delays in naming leadership, slow reforms, unemployment, and broken promises have pushed public frustration to the edge.

Q: What does “purchasing power” mean for Iraq?

A: It refers to improved currency value and economic strength, allowing citizens to afford more with their income.

Q: Who is expected to make the final decision?

A: According to Frank26, the authority that “pulls the trigger” is well known — and their silence is part of the problem.

Q: Is this situation positive or negative long-term?

A: While chaotic now, many believe this pressure will lead to necessary reforms and economic resolution.

---

📈 Why This Matters for Global Watchers

• Iraq’s stability impacts global energy markets

• Monetary reform affects international investors

• Political clarity is essential for regional security

This is not an isolated event — it’s a global economic signal.

---

🔔 Final Thoughts from Frank26

This boots-on-the-ground report shows a country on the edge of transformation. The pressure is real. The anger is visible. And the expectations are clear.

History suggests that when people know what’s coming and demand it loudly enough — change follows.

---

🌐 Follow & Join Our Community

🔗 Blog: https://dinarevaluation.blogspot.com/
📢 Telegram: https://t.me/DINAREVALUATION
📘 Facebook: https://www.facebook.com/profile.php?id=100064023274131
🐦 Twitter/X: https://x.com/DinaresGurus
🎥 YouTube: https://www.youtube.com/@DINARREVALUATION

---

🔥 Hashtags

#IraqNews #IraqReforms #DinarRevaluation #Frank26 #BootsOnTheGround
#IraqEconomy #PurchasingPower #Sudani #MiddleEastNews #CurrencyReset

#BreakingNews #IraqiDinar #GlobalEconomy #PoliticalReform 

Frank26    

[Iraq boots-on-the-ground report]  

 OMAR: Many Iraqis feel reforms are too slow and patience is wearing thin especially among the youth and the unemployed population. 

  FRANK:   They know purchasing power is coming and been promised them.  They know who says to them it's coming all the time.  And they know the one that pulls the trigger doesn't open his damn mouth except to say, 'I got no plans in doing anything.' 

 OMAR:  Television showing foreign contractors, some of them Americans, being attacked at hotels by protesters.  Citizens are very upset.  They voted on November 11th for Sudani to be the prime minister and he's still not named.  And the citizens are upset at the reforms and the lies. This is going sideways fast...  FRANK:  ...When the smoke clears...everything will be fine.

Frank26: How Global Security, Oil Economies, and Venezuela Impact the Iraqi Dinar Monetary Reform

Frank26: How Global Security, Oil Economies, and Venezuela Impact the Iraqi Dinar Monetary Reform

The question many investors and followers of the Iraqi dinar (IQD) monetary reform continue to ask is both complex and global in nature:

Does Venezuela’s situation affect the Iraqi dinar monetary reform?

According to Frank26, the answer is nuanced — not directly, but undeniably connected.

In this in-depth analysis, we break down Frank26’s insights on global security, oil economies, geopolitical stability, and how these factors influence Iraq’s long-awaited monetary reform. We also explore his powerful lesson on wealth preservation, a principle many overlook.

---

Does Venezuela Affect the Iraqi Dinar Revaluation?

Short Answer: Not Directly — But It Is Tangible

Frank26 clearly states that Venezuela’s situation does not directly control or delay

Read also: The Redemption of Zimbabwe’s 100 Trillion Dollar Notes

 Iraq’s monetary reform. However, it does matter in a broader, global sense.

Why?

Because Iraq’s monetary reform does not exist in isolation.

---

What Does Monetary Reform Truly Require?

The Core Foundations: Security and Stability

Frank26 emphasizes that security and stability are the primary requirements for any successful monetary reform.

✔ Iraq has made major progress
✔ Security inside Iraq has improved
✔ Financial and banking reforms are in place

However, monetary reform also depends on regional and global stability, especially among oil-producing nations.

---

Why Oil-Producing Nations Matter

Countries heavily dependent on oil share interconnected economic destinies. According to Frank26, this includes:

• Iraq

• Iran

• Venezuela

• Colombia

• Cuba

• Other emerging or sanctioned economies

When instability affects one oil nation, the ripple effects touch global markets, currencies, and geopolitical alliances.

---

The United States and Global Hope

Frank26 offers a strong opinion:

Many nations are praying for the United States to step in and help restore balance, security, and economic opportunity.

The presence of U.S. leadership, diplomacy, and economic influence creates hope, especially in regions suffering from sanctions, corruption, or internal collapse.

This is not just political — it’s  monetary.

---

Iran, Iraq, and Regional Stability

Frank26 highlights Iran as a central destabilizing force in the region:

• Iran impacts Iraq’s security

• Iran influences oil markets

• Iran’s instability affects neighboring economies

He believes Iran may soon face the same pressures and transformations seen in other struggling nations, potentially reducing its disruptive influence on Iraq.

---

Featured Snippet: Key Insight from Frank26

“Monetary reform requires security and stability. Iraq has it internally, but the world must also stabilize — especially oil-producing nations.”
— Frank26

---

Frank26’s #1 Rule of Wealth (Most People Get This Wrong)

One of the most powerful lessons Frank26 shares has nothing to do with currencies — and everything to do with financial wisdom.

Never Spend Your Principal

“I got a million dollars. I’m going to buy a million-dollar home.”

Sounds great — until reality hits.

Hidden Costs People Ignore:

• Property taxes

• Insurance premiums

• Maintenance and repairs

• Utilities and staffing

That million dollars disappears faster than expected.

---

The Smart Wealth Strategy

Frank26’s rule is simple:

✔ Never spend your principal
✔ Live off dividends
✔ Live off interest, royalties, and returns

Wealth is not what you buy — it’s what you keep working for you.

---

Q&A: Frank26 on Monetary Reform and Wealth

Q: Does Venezuela delay Iraq’s monetary reform?

A: No, but Venezuela’s instability contributes to global uncertainty, which matters.

Q: Is Iraq ready internally for reform?

A: Yes. Iraq has achieved major security and banking milestones.

Q: Why is oil so important to currency reform?

A: Oil economies are globally connected. Instability in one affects all.

Q: What is the biggest mistake new wealthy people make?

A:  Spending the principal instead of living off the returns.

---

Featured Snippet: Wealth Wisdom

“Wealth is not spending your money. Wealth is letting your money pay you.”
— Frank26

---

Final Thoughts

Frank26 reminds us that monetary reform is both local and global. Iraq has done its part, but the world must also move toward greater stability — especially in oil-dependent nations.

At the same time, personal wealth requires discipline, patience, and wisdom. Whether it’s currencies or finances, the rule remains the same:

Protect the foundation. Live off the growth.

---

Official Links & Community

🔗 Blog:
https://dinarevaluation.blogspot.com/

📢 Telegram:
https://t.me/DINAREVALUATION

📘 Facebook:
https://www.facebook.com/profile.php?id=100064023274131

🐦 Join us on X (Twitter):
https://x.com/DinaresGurus

📺 YouTube Channel:
https://www.youtube.com/@DINARREVALUATION

---

 Hashtags

#Frank26
#IraqiDinar
#DinarRevaluation
#GlobalSecurity
#OilEconomies
#MonetaryReform
#WealthStrategy
#FinancialWisdom
#IQD
#Geopolitics
#EconomicStability

---

 Frank26 

 Does [Venezuela's situation] affect our monetary reform with the Iraqi dinar? 

 Not directly but I'm not going to say that it's not tangible.  It is. 

 Why?  What do we seek for the monetary reform? 

 ...Security and stability.  We got it in Iraq.  But we also need it globally, especially those that are dealing with oil...In my strong opinion the people of Iraq...Iran... Venezuela... Columbia...Cuba and many other countries are praying for the United States of America to come and help them...The countries around the world have been given hope...It seems to me that Iran which is the problem for security and stability in Iraq is going to see the same thing...

The #1 thing to know about wealth is never spend your wealth.  'I got a million dollars.  I'm going  to buy a million dollar home.'  Do you know what it cost for a million dollar home insurance?  No.  Do you know what it costs a  million dollar home maintenance?  No...property tax? No.  Then you're going to blow your million dollars and buy the house?  How  are you going to afford it?  Are you going to keep it?  Never spend your principle.  Live off the dividends, off of your principle,  off the royalties of your principle.

MARKZ: GUESTIMATE OF RATES THAT ARE SHOWING ON SCREENS RIGHT NOW!! @DIN...

CALLS TO REMOVE OIL FROM THE BUDGET: A BOLD REFORM PATH OR A GAMBLE THAT COULD UNDERMINE IRAQ’S FINANCIAL STABILITY?

 CALLS TO REMOVE OIL FROM THE BUDGET: A BOLD REFORM PATH OR A GAMBLE THAT COULD UNDERMINE IRAQ’S FINANCIAL STABILITY?

The phrase “oil belongs to the people” has been transformed from a constitutional text that is supposed to establish economic justice and sustainable development, into a slogan that is invoked during crises without actually being reflected in the structure of the Iraqi economy.

After decades of almost complete dependence on oil revenues, questions are mounting about the viability of this model, especially in light of the disruption of productive sectors, the decline of agriculture and industry, and the continued fragility of the budget in the face of fluctuations in oil prices.

As the next year and the upcoming budget discussions approach, the debate resurfaces regarding the meaning of public ownership of oil, the limits of its use, and the possibility of moving towards a diversified economy that reduces dependence on a single resource that has proven to be as much a source of danger as a source of funding.

Experts believe that continuing to link the general budget to oil revenues deepens the structural imbalances in the Iraqi economy and keeps the state hostage to the fluctuations of global markets. They warn that this approach has contributed to weakening the productive sectors, especially industry and agriculture, and has transformed the economy into a rentier model that lacks sustainability. The absence of a clear economic identity and the fluctuation of financial policies have contributed to the mismanagement of public capital, which calls for a review of the philosophy of preparing future budgets and a move towards diversifying sources of income and strengthening non-oil revenues to ensure long-term financial stability.

For his part, economist Abdul Rahman Al-Sheikhli explained that the phrase “oil is the property of the people” in the Iraqi constitution does not mean total dependence on oil revenues to finance the general budget, but rather indicates the people’s ownership of this wealth and the need to manage it in a way that achieves economic sustainability and preserves the rights of future generations.

Sheikhly told Iraq Observer that “the monarchical governments in Iraq did not include oil revenues in the general budget, but rather allocated them for emergencies,” emphasizing that “this approach was more disciplined compared to the financial policies adopted at present.” He added that “Articles 111 and 11 of the Iraqi Constitution clearly stipulate that oil belongs to the people, which means that the general budget must be directed towards relying on non-oil revenues, and oil should not be the primary source for covering operational expenses.”

Al-Sheikhli pointed out that “oil has turned into a liability to the Iraqi economy at the present stage, as a result of the almost complete dependence on it, which has caused a large number of production plants to stop, and the decline of the agricultural sector, on which Iraq was mainly dependent in securing its needs.”

He emphasized that “this dependence has created a fragile economy and stifled production, contributing to the weakening of genuine development opportunities,” calling for “the revitalization of the industrial and agricultural sectors as sustainable sources of national income.” Al-Shaykhli stressed “the necessity for next year’s budget to include a reduction in dependence on oil, limiting it to no more than 49 percent of total revenues, thus ensuring the diversification of income sources and mitigating the risks associated with oil price volatility.” Article (111) of the Constitution of the Republic of Iraq of the year (2005) in force states that “Oil and gas are the property of the Iraqi people in all regions and governorates.”

According to experts, this text is consistent with public international law, which considers natural resources to be the property of the people, not the property of parties or the authorities, and that the state is only a tool for management, distribution, and development.

This is what was emphasized by the resolutions of the United Nations, including its resolution No. (1803) of 14/12/1962 entitled “Permanent Sovereignty over Natural Resources”, which stressed the need to exercise the right of peoples and nations to permanent sovereignty over their wealth and natural resources in accordance with the interest of their national development and the welfare of the people of the state concerned.