Baghdad: An economic expert has indicated that the deteriorating international security situation is poised to negatively impact the global economy, with significant repercussions for the Iraqi economy. Economic expert Raad Twaij emphasized that the global security challenges will not only contribute to the militarization of the global economy but also lead to a decline in global growth rates, directly affecting Iraq's economic stability, which heavily relies on global oil demand and transportation freedom.

According to National Iraqi News Agency, Twaij outlined that the current global environment is experiencing heightened polarization due to various factors, including the ongoing Ukrainian-Russian conflict, tensions in the Middle East, and the Arab-Zionist conflict. These geopolitical issues, alongside the imposition of escalating customs tariffs, are fostering a new global division, particularly between the North and the South, with China and the United States playing central roles.

Twaij highlighted that these global conditions are expected to result in increased military focus within the economy and a reduction in growth rates, which will have a direct impact on the Iraqi economy. Given Iraq's dependency on global oil demand and transportation freedom, the country may face challenges as resources are increasingly allocated to defense and military needs.

He further advocated for the acceleration of economic development and self-reliance, urging a reduction in economic rentierism and unnecessary imports. This, Twaij suggests, is crucial to diminishing Iraq's economic dependence on the global economy and mitigating the potential negative effects of international security instability.