Iraq Economic News and Points To Ponder Tuesday Evening 7-7-26
Iraq Is Moving Towards Balancing Programs With US Support And In Coordination With The World Bank.
Money and Business Economy News – Baghdad Finance Minister Faleh Sari discussed on Wednesday with the US Chargé d'Affaires to Iraq, Joshua Harris, prospects for economic cooperation between Baghdad and Washington and ways to strengthen the partnership with US financial institutions, while both sides affirmed their support for the path of economic and financial reforms.
The Ministry of Finance said in a statement received by "Al-Eqtisad News" that the minister stressed that the government has given the economic file high priority within its program, noting that the next stage will witness reforms aimed at addressing economic and financial challenges in a radical way, and in cooperation with international partners.
The minister revealed a government trend towards preparing a program budget and gradually moving away from the traditional budget system, with the aim of raising the efficiency of spending and linking financial allocations to goals and results, in line with the requirements of financial and administrative reform.
For his part, the US Chargé d'Affaires affirmed his country's support for the Iraqi government and its readiness to enhance economic and financial cooperation, in a way that contributes to supporting stability and achieving sustainable economic growth in Iraq.
This trend coincides with what the government spokesman, Haider al-Aboudi, announced, that the Council of Ministers approved a directive to proceed with drafting a "program budget" in coordination with the World Bank and the Parliamentary Finance Committee, within the framework of economic reform. https://www.economy-news.net/content.php?id=70077
Saleh: The Funds Recovered From Corrupt Individuals Cannot Be Used To Base Budgets.
Baghdad Today - Follow-up The Prime Minister’s financial advisor, Mazhar Muhammad Salih, confirmed on Tuesday (July 7, 2026) that the funds recovered from corrupt individuals represent exceptional revenues that cannot be relied upon in preparing public budgets, while noting that these funds will contribute to reducing the deficit gap and financing projects.
Saleh said in a statement followed by “Baghdad Today”, that “the funds that were recovered from the corrupt are important and non-recurring exceptional revenues, as they cannot necessarily and permanently be relied upon in preparing the general budgets, but they constitute an important source of revenue in financial planning.”
He continued: “These funds are often directed towards bridging the deficit gap or financing specific projects that directly affect the lives of individuals, or strengthening the country’s financial reserves, and not towards building the annual budget within a long-term fiscal policy, because that is linked to the ceilings and capabilities of fiscal policy within the framework of preparing and implementing public budgets.”
He stressed that “recovering corruption funds is important because it reduces financial waste, supports the public treasury, and enhances the confidence of citizens, investors, and the international financial community in the country’s economic system,” noting that “funds recovered from corrupt individuals represent an important support tool for the national economy, but they are not necessarily a complete replacement for the general budget, as this depends on the size and ceilings of public spending.”
These moves come in parallel with the government’s efforts to reduce the fiscal deficit and diversify revenue sources away from near-total dependence on oil. https://baghdadtoday.news/302881-.html
U.S. Resumes Dollar Transfers to Iraq After Months long Suspension
The Trump administration had halted the shipments to Iraq as part of its efforts to pressure the Baghdad government to distance itself from Iran. https://www.iraq-businessnews.com/2026/07/02/u-s-resumes-dollar-transfers-to-iraq/
European Union: We Will Continue To Support Iraq In Reforming Its Banking System.
Baghdad Today - Baghdad: The European Union Ambassador to Iraq, Clemens Simetner, confirmed on Sunday (July 5, 2026) that the Union will continue to provide support to the Iraqi government through numerous programs that include combating corruption and reforming the banking system.
Simetner told the official agency, as reported by Baghdad Today, that “we saw the current government program and put alongside it what the European Union has worked on and is still working on in terms of activities, and we found a great similarity there,” explaining that “we presented projects for vocational training, reforming the banking system, providing job opportunities for small and medium enterprises, as well as efforts to combat corruption, diversify energy sources, and diversify oil products.”
He added, "These programs are being implemented and are still in place, and we are continuing to support the government through them and will continue to provide them in the future." https://baghdadtoday.news/302780-.html
Middle East: Al-Zaidi's Government Moves Towards Opening Files On Ministers, Governors, And Directors-General, While Tracking Their Money And Properties
Baghdad - One News - 7/06/2026 Middle East Monitor reported that the Iraqi government is preparing to launch the second phase of its anti-corruption campaign, in a move that expands the scope of prosecutions to include ministers, governors, directors-general, and current and former officials, while simultaneously tracking funds, real estate, and investments linked to those suspected of involvement inside and outside Iraq.
The website indicated that the new phase includes opening files in the Ministries of Health, Oil and Electricity, in addition to completing the procedures for the “Where did you get this?” bill to strengthen the prosecution of illicit enrichment; the step comes within the government’s efforts to expand accountability, recover public funds and prosecute those involved without exception. https://1news-iq.net/ميدل-إيست-حكومة-الزيدي-تمضي-نحو-فتح-ملف/
Iraq’s Cf Backs Anti-Corruption Drive
2026-07-06 Shafaq News- Baghdad Iraq’s Shiite Coordination Framework (CF), the largest bloc in Parliament, reaffirmed on Monday its support for government and judicial measures to combat corruption, protect public funds, and strengthen the rule of law, according to a statement.
During a meeting at the office of Badr Organization Secretary-General Hadi Al-Amiri, attended by Supreme Judicial Council President Faiq Zaidan and Prime Minister Ali Al-Zaidi, the CF also reviewed official and public preparations for the funeral of Iran’s late Supreme Leader Ali Khamenei, calling for broad participation in the ceremony.
As Parliament resumed sessions following its legislative recess, the bloc called for activating oversight mechanisms and accelerating the approval of key legislation.
On June 28, Iraqi authorities launched Dawn Crackdown (Sawlat Al-Fajr), a nationwide anti-corruption campaign under Al-Zaidi’s direction targeting current and former officials, lawmakers, politicians, business figures, ministers, directors-general, provincial governors, and other suspects.
On Sunday, Tasmeem Alliance head Amer Al-Fayez revealed to Shafaq News that anti-corruption efforts would be on the agenda of the CF’s regular meeting.
Read more: Iraq detains top officials in anti-corruption sweep: What we know so far
https://shafaq.com/en/Iraq/Iraq-s-CF-backs-anti-corruption-drive
In The Presence Of The Head Of The Supreme Judicial Council, Faiq Zaidan, The Coordination Framework Affirms Its Support For The Anti-Corruption Campaign And Calls On Parliament To Strengthen Its Oversight Role
Baghdad - One News - 7/06/2026 The Coordination Framework held its periodic meeting today at the office of the Secretary-General of the Badr Organization, Hadi al-Amiri, in the presence of Prime Minister Ali al-Zaidi and the President of the Supreme Judicial Council, Judge Faiq Zaidan, to discuss the latest political, security and judicial developments in the country.
According to an official statement, the attendees discussed developments on the national scene, focusing on the sustainability of the anti-corruption campaign and the mechanisms to ensure the continuation of governmental and judicial procedures aimed at pursuing corruption cases and protecting public funds.
The Coordination Framework, according to the statement, affirmed its full support for the measures taken by the government and the judiciary in combating what it described as the “corruption pandemic,” stressing the importance of continuing efforts to stop the waste of public funds and strengthen the rule of law.
The participants called on the House of Representatives to activate its oversight tools in line with the ongoing governmental and judicial steps, in addition to intensifying work on passing laws that represent a priority during the current stage, in order to support the reform process and enhance the performance of state institutions.
The meeting also addressed a number of political and organizational issues, and the coordinating framework renewed its call for broad public participation in the funeral procession of the martyr Sayyid Ali Khamenei.
The meeting comes at a time when the Iraqi scene is witnessing an escalation in the pace of the anti-corruption campaign, coinciding with political and judicial efforts aimed at strengthening coordination between state institutions and supporting measures aimed at pursuing corruption cases and recovering public funds. https://1news-iq.net/بحضور-رئيس-مجلس-القضاء-الأعلى-فائق-زيد/