Baghdad: The Ministerial Council for the Economy has approved the sale of local wheat to private mills at the price of 410,000 dinars per ton. This decision was part of a series of economic measures discussed during a meeting chaired by Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein. The meeting, held at the Council’s building, was attended by key government officials, including the Deputy Prime Minister and Minister of Planning, and the Ministers of Finance, Trade, Agriculture, and Industry, among others.

According to National Iraqi News Agency, the Council also reviewed an executive plan for the Poverty Reduction Strategy for 2026-2030, developed by the Ministry of Planning. This strategy aims to halve the poverty rate by transforming the poor into economically and socially integrated individuals. The plan outlines priorities, implementation mechanisms, and risk management strategies, emphasizing follow-up, monitoring, and evaluation.

The Council also recommended the sale of local wheat to private mills at the previous price, aligning with global price equations. Additionally, it approved exempting the Iraqi Housing Fund from electronic payment commissions, classifying them as administrative expenses due to the fund’s interest-free loan offerings to citizens.

Furthermore, representatives from the State Oil Marketing Company (SOMO) were hosted to discuss the Central Bank of Iraq’s report on the global oil market analysis and prospects until 2026. This report aids in economic monitoring and risk assessment, providing insights for the state’s budget and economic planning to support public treasury revenues.