Baghdad: PM Ali Faleh Al-Zaidi announced on Monday the ongoing efforts to implement a strategy aimed at establishing a new economic framework for Iraq, focusing on corruption-free government departments and secure constitutional institutions.

According to Iraqi News Agency, the Prime Minister highlighted the critical role of Parliament and the Finance Committee in bolstering the government's reform agenda. This announcement followed a meeting hosted by PM Al-Zaidi with the Chairman and members of the Parliamentary Finance Committee, alongside the Minister of Finance and the Governor of the Central Bank of Iraq. The meeting centered on discussing financial strategies and improving coordination between executive and legislative bodies on key issues.

PM Al-Zaidi acknowledged the significant challenges inherited by the government and emphasized a clear vision to address them. He introduced a program and performance budget, designed as a roadmap for Iraq's economic future, linking government expenditure to specific objectives and outcomes to enhance public fund efficiency.

Special attention will be given to the electricity sector, with the Prime Minister urging Parliament to support the government's anti-corruption efforts rigorously. Al-Zaidi asserted that there would be no tolerance for corrupt practices, demonstrating a firm commitment to pursuing corrupt individuals.

The Prime Minister also discussed developing a state-building strategy to attract major international investment and receive backing from global financial institutions. This strategy aims to create a conducive environment for investment and stimulate a variety of economic sectors.

Al-Zaidi directed the preparation of a schedule for hearings and regular meetings with parliamentary committees to strengthen institutional coordination between the government and the Council of Representatives. The Chairman of the Parliamentary Finance Committee expressed full support for the government, with committee members proposing legislation to boost non-oil economic activities and reinforce economic reforms.

The committee members stressed the importance of advancing oil projects and improving the investment climate to attract reputable international companies, which would contribute to development, encourage industrial growth, and generate employment opportunities.