Baghdad: Economic expert Dirgham Muhammad Ali has emphasized the critical need for Iraq to adopt economic reform policies that will endure beyond the lifespan of its current and future governments. The formation of the next government is crucial as it faces the dual challenge of completing existing development programs and initiating new ones to mitigate the country’s escalating rentier spending.

According to National Iraqi News Agency, Muhammad Ali highlighted the significant challenges posed by Iraq’s rentier economy, which has placed immense pressure on investment spending. He pointed out that the upcoming government must focus on completing key programs, such as the reform of the banking system, investment in associated gas, and advancing the development path. Additionally, he stressed the need for radical or phased solutions to address the near-total dependency of the national economy on rentierism.

Muhammad Ali further noted that any attempt at economic reform must address financial corruption and bureaucratic inefficiencies through concrete actions. He acknowledged the formidable obstacles in the reform process, including high government expenditures and the entrenched corruption that has undermined Iraq’s institutional framework over several decades.

To ensure the sustainability of reform efforts, Muhammad Ali advocated for the establishment of a supreme economic reform body, which would operate under judicial and parliamentary oversight. This body would be tasked with implementing reform policies designed to outlast the tenure of individual governments, thereby securing long-term economic stability for Iraq.