Warnings of Recession Hitting Half of GDP as Iraq's 2026 Budget Remains in "Cold Storage"

 Economic experts warned today, Sunday, April 26, 2026, of the severe consequences of delaying the approval of the current year's budget, linked to the formation of the new government, stating that a recession threatens 50% of the GDP. Specialists noted that the absence of a budget is no longer an exception but a recurring phenomenon that wastes time and halts vital projects. Amidst this deadlock, the Parliamentary Finance Committee confirmed that the state might be forced to resort to emergency borrowing laws or enact an emergency financial law similar to the "Food Security Law" to ensure essential spending and maintain public services.