Iraq Economic News and Points To Ponder Late Wednesday Evening 7-01-26
Al-Zaydi's Financial Advisor: Funds Recovered From Corruption Will Support The Budget And Reduce The Need For Borrowing
Baghdad - One News - 7/01/2026 The Prime Minister’s financial advisor, Mazhar Muhammad Saleh, confirmed that recovering funds related to corruption cases will affect the general budget through two paths: first, strengthening public finances with cash revenues recorded under the category of other revenues, and second, stopping the bleeding of corruption and reducing the cost of public expenditures.
Saleh said that creating a special account for depositing the recovered funds has important financial and educational implications, because it prevents these funds from dissolving or being forgotten, and documents them within the Iraqi financial memory, in preparation for directing them transparently to building hospitals and roads and supporting the poor classes, social welfare networks, orphans and widows.
He added that the recovered funds may alleviate some of the financial deficit and compensate for expenses that the government would have resorted to financing through borrowing, explaining that the assets include cash, real estate, land, stocks, bonds and properties inside and outside Iraq. https://1news-iq.net/المستشار-المالي-للزيدي-الأموال-المست/
Al-Zaydi: The Government Is Proceeding With The Three Reform Initiatives: "Confining Weapons, Combating Corruption, And Expanding Arab And International Relations"
Baghdad - One News - 7/01/2026 Prime Minister Ali al-Zaidi affirmed that Iraq is moving towards a new phase based on building a modern state with full sovereignty, a strong economy, and the rule of law, in parallel with strengthening relations with its Arab, regional and international surroundings.
During his meeting with the Secretary-General of the Gulf Cooperation Council, Jassim Al-Budaiwi, he noted the continuation of the anti-corruption campaign and the restriction of weapons to the state, while Al-Budaiwi praised the government measures and affirmed the Council’s readiness to expand the partnership with Iraq in various fields.
https://1news-iq.net/الزيدي-الحكومة-ماضية-بثلاثية-الإصلاح/
US State Department To Alwan News: We Welcome The Steps Taken By Al-Zaidi In Combating Corruption And Recovering Funds
Washington - One News - 7/01/2026 In the first American stance directly addressing the anti-corruption campaign led by Prime Minister Ali al-Zaidi's government, the US State Department welcomed the measures aimed at combating corruption and recovering public funds, stressing the importance of pursuing these efforts within the approved constitutional and legal frameworks.
The American message reflects clear support for the anti-corruption campaign, as an essential part of strengthening state institutions and consolidating citizens' trust in them, while emphasizing the importance of the rule of law and transparency in making this campaign a success.
The US State Department, in its interview with One News, stressed that investigations and judicial procedures represent the natural framework for addressing corruption cases, and that adherence to legal contexts enhances the strength and credibility of the campaign in the eyes of the public. https://1news-iq.net/الخارجية-الأميركية-لوان-نيوز-نرحب-بال/
UN: Al-Zaidi Has Taken Decisive Steps To Combat Corruption And Recover $500 Billion In Assets
Baghdad - One News - 7/01/2026 The Resident Representative of the United Nations Development Programme in Iraq, Titon Mitra, confirmed that the current government has taken serious steps to combat corruption, noting that this has become evident through the formation of the Supreme Council for Integrity and Asset Recovery.
Mitra said that the United Nations Development Programme is committed to providing technical support to Iraq and transferring expertise and skills in this area, noting that the legal and governance tools are already in place, but what is lacking is practical application in recovering financial assets.
He added that estimates indicate the existence of about five hundred billion dollars, explaining that if these figures are correct and the state is able to recover them, this could contribute to bridging the current financial deficit and enhancing the state’s ability to finance its needs. https://1news-iq.net/الأمم-المتحدة-الزيدي-اتخذ-خطوات-حثيثة/
The Central Bank Governor visits the Speaker of Parliament and they emphasize strengthening financial stability and banking reform.
Media Office - Baghdad, July 1, 2026 The Speaker of the Iraqi Parliament, Mr. Hebat al-Halbousi, received the Governor of the Central Bank of Iraq, Mr. Nizar Nasser Hussein, to discuss mechanisms for developing the banking and financial sector in the country.
At the beginning of the meeting, the Speaker congratulated the Governor on assuming his new duties, wishing him success.
During the meeting, they discussed the most prominent current economic challenges and ways to improve the financial system to serve sustainable development.
The Governor emphasized the banking reform plan and the necessity of developing comprehensive strategic programs and plans aimed at modernizing the banking sector and developing its infrastructure.
He also pointed to the importance of strengthening coordination and cooperation in institutional performance between the legislative authority and monetary policy to enhance the efficiency of Iraqi banks.
For his part, the Speaker affirmed that the Parliament supports all measures and policies that ensure financial and banking stability and protect the national currency, which will positively impact the market and investment in Iraq.
At the conclusion of the meeting, both sides expressed their commitment to continuing joint work and overcoming legislative and executive obstacles to ensure the establishment of a strong and robust financial system that meets the aspirations of the Iraqi economy. https://cbi.iq/news/view/3243