Baghdad / NINA /- Newspapers published in Baghdad on Thursday, February 19, focused on two key issues: concerns over a potential financial crisis and the worsening water crisis in the country.

Regarding the financial situation, Al-Sabah newspaper, published by the Iraqi Media Network, reported that Iraq’s foreign currency reserves remain strong and continue to grow, stressing that public sector salaries are fully secured. The paper noted that current concerns about a financial crisis stem from future projections linked to fluctuations in oil prices or regional developments, rather than any existing on-the-ground crisis.

The report added that the Council of Representatives is expected to host the Governor of the Central Bank in the coming period to discuss the country’s financial and economic landscape, review monetary reform efforts, and examine key measures taken to ensure economic stability amid regional challenges and potential oil market volatility.

Member of Parliament Jassim Al-Alawi told the newspaper that the financial situation is stable and that Iraq’s reserves are at solid levels, reflecting strong financial indicators at present. He clarified that prevailing concerns relate more to possible future scenarios than to the current reality, noting that Iraq’s heavy reliance on oil revenues makes state income vulnerable to global market fluctuations and regional tensions that could impact oil prices and public revenues.

He further explained that such projections have prompted relevant authorities to adopt precautionary measures aimed at strengthening the country’s financial capacity, ensuring the continued payment of salaries, and covering public expenditure, emphasizing that steps are ongoing to reinforce financial stability and improve economic management tools.

Regarding the water crisis, Al-Zaman newspaper highlighted a warning issued by the Iraq Green Observatory about the continued decline in the country’s water reserves.

The observatory stated that current water quantities may only be sufficient for the coming months if consumption continues at present rates, particularly in the agricultural sector and for daily use.

According to a statement cited by the newspaper, rainfall levels recorded during the current season are unlikely to sustain rising consumption for long. The observatory noted that earlier forecasts had pointed to a wet season similar to 2019—considered an exceptional year in terms of abundant rainfall—which had enabled Iraq to store substantial water reserves and utilize them over an extended period.

The statement also indicated that limited water releases from Turkey have contributed to the continued drop in water levels. It added that the water file was discussed during the recent phone call between Prime Minister Mohammed Shia’ Al-Sudani and Turkish President Recep Tayyip Erdoğan, although no agreements were announced regarding increased water releases toward Iraq.

The observatory stressed that addressing the crisis requires practical measures to curb high consumption—especially in agriculture—through the adoption of modern irrigation techniques that reduce waste, alongside improved rainwater management and more efficient utilization during future seasons.

In the same context, Al-Zawraa newspaper, published by the Iraqi Journalists Syndicate, addressed the decline in groundwater levels across Iraq as a result of climate change and mounting pressure on water resources.

The newspaper quoted the Director General of Groundwater in Iraq, Maytham Ali, as saying that groundwater levels in the areas of Kwer (Erbil), Sheikhan (Duhok), Sinjar and Tal Afar (Nineveh), as well as the outskirts of Kirkuk, have dropped by between 60 and 70 meters, with declines reaching up to 100 meters in some locations.

He added that the provinces of Najaf, Muthanna, Karbala, Salah al-Din, and Diyala are facing similar reductions in their groundwater reserves, underscoring the nationwide scope of the crisis.

The Director General further explained that demand for water for agricultural purposes has increased significantly over the past five years, noting that more than three million dunams of farmland—including in the Kurdistan Region—now rely on well water for the cultivation of wheat, barley, and corn.

He pointed out that the directorate monitors well water levels through advanced electronic devices and has recorded what he described as a “serious decline” across most water basins, calling for urgent measures to address the depletion and safeguard groundwater resources./ End



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