Iraq
Iraqi Prime Minister Ali al-Zaidi in his first address after assuming office on May 16, 2026. Photo: INA
ERBIL, Kurdistan Region - Iraq’s new Prime Minister Ali al-Zaidi said Saturday that his newly formed government will launch a “comprehensive” economic and financial reform program aimed at diversifying the country’s oil-dependent economy and combating corruption.
“The path of reform may be difficult, but it is not impossible when intentions are united, and efforts are sincere,” Zaidi said in his first official address after assuming office, according to a statement from the premier’s office.
Nearly 270 lawmakers attended Thursday’s parliamentary session to vote on Zaidi and his cabinet. Parliament approved 14 of the proposed 23 ministers, while five were rejected and four remain pending political agreements.
Iraq ranks among the world’s most corrupt countries, according to Transparency International’s annual corruption index. Companies operating in Iraq are frequently accused of violating state-awarded contracts.
Zaidi said his government’s priorities include launching a “comprehensive economic and financial reform program aimed at building a strong, diversified, and sustainable national economy that does not rely on a single resource.”
Oil exports account for around 88 to 90 percent of Iraq’s federal budget revenues, making the country heavily dependent on crude sales.
He added that the reform plan would focus on “revitalizing industry, agriculture, tourism, and investment, and stimulating national talent and Iraqi expertise.”
The new premier said his government would work to consolidate regional security and stability, protect Iraq’s sovereignty, and strengthen “Arab, regional, and international relations based on mutual respect and shared interests,” while preserving “Iraq’s standing and its historical role in the region.”
Baghdad was caught in the crossfire during the nearly six-week war between Iran and the United States that began on February 28 and ended with a fragile ceasefire on April 8, amid stalled negotiations over a permanent truce.
During the conflict, Iran-backed armed groups in Iraq claimed more than 750 attacks on alleged US bases and interests across the country. Some of the factions, operating under the umbrella of the “Axis of Resistance,” are funded and armed through the state-sponsored Popular Mobilization Forces (PMF).
Several PMF leaders are also members of the ruling Shiite Coordination Framework, which backed Zaidi’s nomination. US President Donald Trump has also expressed support for the new Iraqi premier.
Washington has meanwhile intensified pressure on Baghdad to disarm armed factions, while carrying out around 90 airstrikes targeting militia positions.
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