Baghdad: The Ministerial Council for Economy has raised concerns regarding the potential impact of regional events on Iraq’s national economy. Chairing the thirty-third session of the Council, Deputy Prime Minister, Minister of Foreign Affairs, and Chairman of the Ministerial Council for Economy, Fuad Hussein, addressed the gathering at the Council building. The meeting was attended by key figures including the Deputy Prime Minister and Minister of Planning, as well as the Ministers of Finance, Agriculture, and Industry, alongside other senior officials.

According to National Iraqi News Agency, the session focused on examining the financial and economic landscape of Iraq amidst current internal and external challenges, particularly the regional conflicts affecting the country’s economy. The Undersecretary of the Ministry of Planning delivered a presentation on the status of investment projects in Iraq, highlighting those completed and under construction, along with the associated financial commitments.

The
Council also reviewed working papers from various ministers, detailing the primary challenges confronting the Iraqi economy. Discussions covered the state’s general revenue streams from both oil and non-oil sources, government expenditure, and existing financial obligations.

Council members proposed several strategies aimed at boosting revenues to support the national budget, thereby fostering economic growth. Fuad Hussein emphasized that regional political and security tensions could significantly impact the Iraqi economy, particularly through fluctuations in oil prices and market instability.

To mitigate these risks, the Council reiterated the necessity of implementing measures and making informed economic decisions to stabilize the Iraqi market. This call for action came after thorough discussions and consideration of the submitted working papers by Council members.