MP: THIS YEAR’S BUDGET IS A PRIORITY FOR THE NEXT GOVERNMENT
Member of Parliament, Miqdad al-Khafaji, confirmed on Thursday that the current financial and economic crises necessitate expediting the completion of the general budget, indicating that this file will be at the top of the agenda of the next government as soon as it is formed.
Al-Khafaji stated to Al-Maalomah News Agency that “the exceptional circumstances the country is experiencing and the worsening financial crisis necessitate close coordination between the Council of Ministers and the Parliament to ensure the passage of the budget law for the remainder of this year.”
He added that “the incoming government will, immediately after gaining confidence, begin preparing the budget schedules and drafting its articles to align with the scale of the economic challenges,” emphasizing the need to resolve the issue to secure salaries and the completion of stalled service projects.
Beyond Oil: How Iraq’s Non-Hydrocarbon Revenue Strategy Could Support Long-Term Dinar Strength
Description
Discover how Iraq’s customs modernization, banking reform, digital taxation, and non-oil revenue expansion may strengthen long-term economic stability and support future dinar valuation.
🚨 Featured Snippet: Why Iraq’s Non-Oil Revenue Strategy Matters
Iraq is shifting away from total oil dependency by modernizing customs, expanding digital taxation, strengthening banking systems, and increasing non-hydrocarbon revenues. Analysts believe these structural reforms could provide the long-term economic foundation necessary to support a stronger and more sustainable Iraqi dinar.
🔥 The Real Story in Iraq Is No Longer Just Oil
For decades, Iraq’s economy was viewed almost entirely through one lens:
🛢️ Oil exports.
Oil revenues funded:
Government spending
Currency reserves
National budgets
Public salaries
Monetary stability
But today, Iraq appears to be building something much larger:
🇮
🇶 A completely new fiscal architecture.
And this transformation may become one of the most important long-term factors supporting Iraq’s monetary future.
📌 The Core Thesis: Iraq Is Building Structural Monetary Support
The modern Iraqi economic model now appears focused on:
✅ Customs modernization ✅ Digital taxation systems ✅ Non-oil revenue expansion ✅ Banking reform ✅ Trade integration ✅ Institutional transparency ✅ Sovereign financial stability
This matters because strong currencies cannot survive indefinitely on commodity dependence alone.
A durable exchange rate requires:
Predictable state revenues
Functional institutions
Fiscal stability
Investor confidence
Diversified economic activity
And Iraq increasingly appears to be moving toward exactly that model.
🛢️ The Problem With Oil Dependency
Historically, Iraq faced one major vulnerability:
Oil price fluctuations controlled almost everything.
When oil prices declined:
Budget deficits widened
Spending power weakened
Monetary pressure increased
Confidence in the dinar suffered
⚠️ That model creates instability.
A nation heavily dependent on one commodity remains vulnerable to:
Global market swings
Geopolitical disruptions
Supply shocks
External financial pressure
📈 Why Non-Oil Revenue Changes Everything
A stronger national currency requires stable internal revenue generation beyond crude exports.
That includes:
Taxes
Customs duties
Logistics fees
Trade revenues
Tourism
Industrial output
Digital commerce
Domestic production
These create: ✔️ Predictable cash flow ✔️ Sustainable government budgets ✔️ Lower fiscal risk ✔️ Greater sovereign credibility
This becomes the economic floor beneath any future monetary strength.
But Iraq appears to be building: ✔️ Transaction transparency ✔️ Financial monitoring systems ✔️ Institutional oversight ✔️ International banking compatibility
💡 The Global Financial System Looks Beyond Oil
For years, dinar discussions focused heavily on:
Oil reserves
Gold holdings
Speculative timelines
But modern monetary systems evaluate currencies differently.
Global institutions look for:
Governance capacity
Tax efficiency
Diversified revenue
Banking transparency
Institutional reliability
Sustainable economic productivity
This is why Iraq’s non-oil strategy matters so much.
🔥 The Narrative Is Changing
The conversation is slowly shifting from:
“Resource wealth”
to:
“Institutional economic strength.”
That is a major difference.
Because institutional strength creates:
Long-term stability
Investor confidence
Sustainable monetary policy
Greater sovereign control
📊 What Could Support Long-Term Dinar Strength?
Structural Reform
Potential Impact
Customs modernization
Increased state revenue
Banking reform
Financial stability
Digital taxation
Revenue diversification
Trade integration
Global connectivity
Reduced corruption
Institutional confidence
Non-oil industries
Economic resilience
🚀 The Sovereign Strength Model
Iraq’s broader objective appears larger than simply adjusting currency values.
The strategy increasingly points toward:
Sovereign financial independence
Reduced oil vulnerability
Regional trade leadership
Long-term economic credibility
This model creates: ✔️ Macroeconomic resilience ✔️ Stable fiscal structures ✔️ Stronger investment appeal ✔️ Greater monetary flexibility
These are characteristics shared by stronger economies worldwide.
⚠️ Important Perspective
This does NOT guarantee: ❌ An overnight exchange rate change ❌ Immediate monetary adjustments ❌ Instant currency appreciation
However, it does suggest that Iraq may be building the structural conditions historically required for sustainable long-term monetary strength.
That distinction is extremely important.
❓ Q&A Section
Why are non-oil revenues important for Iraq?
They reduce dependence on volatile oil markets and create more stable government income.
How does customs modernization help Iraq?
It improves revenue collection, reduces corruption, and increases trade transparency.
Can banking reform strengthen the Iraqi dinar?
Modern banking systems improve financial stability, investor confidence, and international compatibility.
Is Iraq moving toward economic diversification?
Yes. Iraq is increasingly focusing on trade, logistics, technology, taxation, and non-oil industries.
📢 Final Perspective
The most important development in Iraq may not be a single announcement or headline.
It may be the quiet construction of an entirely new economic foundation beneath the country itself.
Customs modernization. Digital taxation. Banking reform. Trade integration. Non-oil revenues.
Together, these reforms create something Iraq historically lacked:
🇮🇶 A sustainable institutional framework capable of supporting long-term monetary strength.
And that changes the entire conversation surrounding Iraq’s economic future.
REPORT URGES TRUMP TO DRAW “RED LINES” AHEAD OF AL-ZAIDI’S RULE OVER IRAQ
A US report urged President Donald Trump’s administration to maintain what it called “red lines” during the process of forming the new Iraqi government, three days after Ali al-Zaidi was tasked with becoming prime minister.
American Conditions
The report issued by the US-based Foundation for Defense of Democracies , and translated by Shafaq News Agency, warned against including figures linked to armed factions or close to Iran in ministerial or senior positions.
The US report warned that forming a government that includes figures close to Tehran could harm the future of Iraqi-American relations, calling on Washington to continue to exert pressure to ensure the formation of a government that is “not subject to the influence of militias” and maintains a balanced relationship between Baghdad and its international partners.
The report stressed that Iraq represents a crucial arena for confronting Iranian influence and illicit financial activities, as well as combating terrorism, emphasizing that achieving this requires an effective partnership with Baghdad without pushing the country towards an economic or military crisis.
He pointed out that assigning businessman Ali al-Zaidi to the premiership does not guarantee that he will actually assume the position, as he still has 30 days to form a government that enjoys the confidence of Parliament, in light of previous experiences in which candidates failed to secure sufficient support, as happened in 2020.
Al-Zaydi was chosen after disagreements within the coordinating framework, as the American report saw that his “limited political experience” contributed to achieving consensus on him, as he was a figure who might be more susceptible to influence by the framework’s leaders.
Financial concerns
The report expressed concern about al-Zaidi’s past affiliations, noting that he served as chairman of the board of directors of the “South Islamic Bank,” which was barred by the Central Bank of Iraq in 2024 from participating in the dollar auction in response to American pressure.
According to the US-based Foundation for Defense of Democracies, Iraq is an important center for financing illicit Iranian activities, through oil smuggling networks that generate – according to estimates – about $1 billion annually for Tehran and its allies, in addition to exploiting the Iraqi financial system to access dollars in various ways.
According to the report, these activities, along with factional attacks during the recent war, prompted Washington to take pressure measures, including reducing dollar shipments to Iraq and imposing sanctions on faction leaders, as well as offering financial rewards for information about some of them.
Factional challenge
The report stressed that any new prime minister, especially if he came to power with the support of forces close to Iran, would not be able to confront the armed factions on his own, without direct American pressure.
He noted that these factions emerged from the last war – the February 28 war between the United States and Israel against Iran – “more daring,” citing the participation of their leaders in high-level political meetings despite some of them being on US terrorism lists.
The report concluded that the (current) Iraqi government has not taken any decisive steps to deter attacks targeting American diplomatic and military facilities, but has allowed factions to respond to American strikes, thus giving them “implicit legitimacy” to operate outside the framework of the state.
According to recent reports discussed by Jeff, approximately 60% of Iraq’s new ministerial cabinet lineup has already been completed. Analysts believe the faster-than-expected government formation process may support Iraq’s broader political and economic stabilization efforts.
🔥 Government Formation in Iraq Appears Farther Along Than Expected
New commentary from analyst Jeff is drawing attention after reports surfaced indicating that roughly:
🇮🇶 “60% of the ministerial lineup for the new government has been completed.”
For many observers, this signals that Iraq’s political transition may be progressing more quickly and smoothly than previously anticipated.
And in Iraq, political stability often connects directly to:
Economic reform
Budget implementation
Banking modernization
International investment confidence
🏛️ Does Every Cabinet Position Need To Be Filled?
According to Jeff:
“Not every position has to be filled. They just need a majority completion approval in parliament.”
This is an important distinction.
Many people assume Iraq’s entire cabinet structure must be fully finalized before government operations can move forward.
However, parliamentary systems often function once: ✅ Majority approval is achieved ✅ Core ministries are confirmed ✅ Government legitimacy is established
That means partial completion can still allow major economic and legislative processes to advance.
📈 Why Government Formation Matters Economically
Government formation in Iraq is closely watched because it affects:
National budget execution
International agreements
Oil revenue coordination
Banking reforms
Infrastructure projects
Foreign investment flows
A functioning government creates:
✔️ Policy continuity ✔️ Institutional confidence ✔️ Administrative stability ✔️ Greater international credibility
For global investors and financial observers, political stability is often one of the most important prerequisites for economic expansion.
🔐 Jeff’s Perspective on Digital Security and Wealth
Jeff also shared personal insights related to:
Digital automation
Security systems
Privacy awareness
Wealth management philosophy
He explained:
“I live in the world of digital security…automation…Security is always on my mind.”
This perspective reflects growing awareness in today’s digital financial environment where:
Cybersecurity risks increase
Financial visibility expands
Data exposure becomes more common
💡
Living Quietly After Financial Success
Jeff emphasized the importance of privacy and conservative living, stating:
“When you're wealthy you're better off not telling people…You don't want to let people know you're rich.”
This philosophy aligns with a broader wealth preservation mindset focused on:
Personal security
Financial discretion
Low-profile lifestyles
Long-term asset protection
He added:
“I will be living life to the fullest.”
The combination of privacy and freedom is a theme often discussed within investment and wealth communities worldwide.
🌍 The Bigger Picture: Iraq’s Political & Economic Momentum
The significance of the cabinet progress extends beyond politics alone.
Iraq is simultaneously advancing:
Banking modernization
Trade integration
Customs digitalization
Infrastructure development
Economic diversification
These reforms collectively create the framework many believe Iraq needs for:
Long-term stability
International integration
Stronger institutional governance
📊 What Analysts Are Watching Closely
Development
Why It Matters
Cabinet completion progress
Political stability
Parliamentary approvals
Government legitimacy
Budget discussions
Fiscal execution
Banking reforms
Financial modernization
Infrastructure expansion
Economic growth
Trade integration
Global connectivity
🚀 Political Stability Often Precedes Economic Expansion
Historically, countries moving through:
Government transitions
Institutional restructuring
Financial modernization
…often experience stronger investor confidence once political uncertainty decreases.
For Iraq, analysts continue monitoring: ✔️ Cabinet confirmations ✔️ Budget implementation ✔️ International partnerships ✔️ Financial reforms ✔️ Regional cooperation
These factors collectively shape Iraq’s broader economic trajectory.
⚠️ Important Perspective
While optimism continues building around Iraq’s progress:
❌ No official exchange rate changes have been announced ❌ No confirmed monetary revaluation has occurred ❌ Political processes are still ongoing
However, continued movement toward government completion is widely viewed as a positive signal for overall national stability.
❓ Q&A Section
Does Iraq need every cabinet position filled to move forward?
No. According to Jeff, parliamentary majority approval is more important than complete ministerial perfection.
Why is government formation important in Iraq?
It impacts budgets, reforms, economic policies, and international confidence.
What percentage of Iraq’s cabinet is reportedly completed?
Reports discussed by Jeff suggest approximately 60% has already been finalized.
How does political stability affect economic reform?
Stable governments are generally better positioned to implement banking, trade, and financial reforms.
🔥 Google Discover Highlights
📌 “Iraq Cabinet Progress Reaches 60%”
📌 “Government Formation Moves Faster Than Expected”
📌 “Political Stability Could Support Economic Reform”
The latest reports surrounding Iraq’s government formation suggest momentum may be building faster than many expected.
Political stabilization remains one of the most important foundations for:
Economic modernization
Banking reform
Trade expansion
International integration
While uncertainty still exists, the progress already reported appears to reinforce the broader narrative that Iraq continues moving toward a more structured and globally connected future.
Not every position [of the new PM cabinet] has to be filled. They just need a majority completion approval in parliament.
I live in the world of digital security...digital security based automated systems is what I do. Very computerized. I work in the world of automation...Security is always on my mind.
When you're wealthy you're better off not telling people...You don't want to let people know you're rich. You're best off just living your low-key conservative life... After the rate changes I will have a very simply way I operate...But I will be living life to the fullest.
The government formation is much farther along than we should have expected...
Article: "60% of the ministerial lineup for the new government has been completed" ...Very good to see they're farther than you and I were privy to know.
TRUMP INVITES AL-ZAIDI TO VISIT WASHINGTON AFTER THE GOVERNMENT IS FORMED
Prime Minister-designate Ali Faleh Al-Zaidi received a phone call today, Thursday, from the US President, during which he congratulated him on his official appointment to form the new government, and extended an official invitation to him to visit Washington after the government is formed.
The Prime Minister’s Media Office stated in a statement received by Al-Furat News that “the call included a review of the strategic bilateral relations between Iraq and the United States, and ways to develop and strengthen them in various fields.” The statement added that “both sides affirmed their joint work and bilateral cooperation in order to consolidate stability in the region.”