Baghdad-INA
Finance Minister Faleh Al-Sari said on Monday that the country is facing mounting financial challenges amid changes in global energy markets and a decline in oil exports, stressing the need for legislative measures and legal amendments to support reform efforts and strengthen the state's capacity.
According to a statement issued by the Finance Ministry, Al-Sari met with Speaker of Parliament Haibat al-Halbousi to discuss a number of issues related to financial and administrative reform.
Al-Sari said Iraq was experiencing increasing financial pressures due to developments in energy markets and shrinking oil exports, coupled with falling revenues, adding that coordinated efforts were needed to support measures aimed at securing the state's financial obligations.
He also underscored the need to pass legislation and amend several laws in order to advance financial reform and enhance the government's ability to address economic challenges.
For his part, al-Halbousi reaffirmed parliament's support for the Finance Ministry's measures to implement financial reforms and back government efforts to deal with the country's complex financial situation.
