Baghdad: Prime Minister, Mohammed Shia Al-Sudani chaired a meeting of the Ministerial Council for the Economy, during which discussions were completed on the government’s approach to implementing measures aimed at increasing revenues and rationalizing expenditures.

According to National Iraqi News Agency, the Prime Minister’s Media Office stated that the meeting reviewed a plan submitted by the Ministry of Foreign Affairs. This plan outlined a comprehensive framework of procedures and financial and localization policies for the ministry for the current year 2026, supported by detailed figures.

The statement added that the council hosted the Head of the Advisory Commission at the Prime Minister’s Office, who presented an in-depth study on the value of foreign trade and imports. Several aspects of the study were discussed by the relevant ministries, along with remarks and proposals to further develop it.

According to the statement, the meeting also included a detailed discussion on decisions related to the implementation of customs tariffs and their impact on revenue enhancement, as well as an assessment of market conditions and domestic trade requirements, and the effects resulting from the recently adopted measures. In addition, the council discussed Recommendation No. (25511) of the Ministerial Council for the Economy, concerning addressing the financial situation through a review of subsidy rates for petroleum products.

The Prime Minister stressed the importance of maintaining market stability and citizens’ income levels, avoiding harm to the private sector, professions, and small businesses, and ensuring the proper implementation of decisions, with close monitoring of their impact every three months.