Iraq Economic News and Points to Ponder Saturday Afternoon 3-15-25
Iraq discusses with the IMF strengthening the dinar
March 14, 2025 Baghdad - Al-Zaman: The Iraqi delegation concluded its meetings with the International Monetary Fund, with the participation of Finance Minister Taif Sami and the Governor of the Central Bank of Iraq, Ali Al-Alaq, in Amman.
The Ministry of Finance stated in a statement that "the meetings focused during discussions on Iraq's economic performance and prospects for sustainable growth, with the International Monetary Fund commending the progress made."
He continued, "The meeting also discussed non-oil GDP growth of 5% in 2024, driven by the expansion of the agricultural sector and increased public spending, with growth expected to reach 3.5% in 2025," noting "the effort to reduce dependence on oil revenues, which will enhance economic diversification and stability."
He pointed out that "actual spending for 2024 and revenue forecasts for 2025, along with deficit financing strategies, will be reviewed, as will updating the public debt strategy to ensure financial sustainability and enhance investor confidence in government bonds."
The meeting addressed "reforms in the financial sector," with the International Monetary Fund stressing the importance of modernizing the banking system to attract foreign capital, and emphasizing "expanding cooperation with international correspondent banks to facilitate trade financing."
The International Monetary Fund (IMF) renewed its support for developing Iraq's fiscal policy, proposing to provide advisors and experts to assist the Ministry of Finance in managing public debt and improving the tax system, as well as increasing the use of the Iraqi dinar in key transactions to strengthen the national currency.
The meetings reflected "Iraq's commitment to financial reforms, enhancing economic stability, and adopting investment-friendly policies, in line with its strategic partnership with the International Monetary Fund." LINK
try: The Coming Years Will Witness A Qualitative Leap In The Industrial Sector Through New Projects And Modern Production Lines.
Local | 05:16 - 03/15/2025 Mawazine News – Baghdad The Ministry of Industry confirmed, on Saturday, that the industrial sector will witness a qualitative leap in the coming years, while indicating that 196 partnership contracts were concluded with the private sector to boost production.
Ministry spokeswoman Duha Al-Jubouri said: "The ministry did not adopt the full privatization of factories, but rather resorted to partnerships with the private sector in accordance with the ministry's partnership law," noting that "the number of effective partnership contracts has reached 196 contracts, distributed among 27 companies."
She added, "50 of these contracts were concluded during the period from October 27, 2022, until now.
" She explained that "some contracts have been signed, while others are still under study or in the foundation stone laying stage," noting that "the partnerships covered multiple sectors, including communications and energy,
Which included the manufacture of power stations and transformer assembly, the petrochemical industries, as well as the automotive industry, which included the assembly and manufacture of machinery, in addition to armoring and conversion projects for various wheels."
She continued, "The partnerships included the mining, electrical, and construction industries, as well as the maintenance and rehabilitation of gas turbine units, in addition to the establishment of new factories to produce phosphate fertilizers, medicines, insulin, and human vaccines."
Al-Jubouri emphasized that "these contracts will contribute to improving and increasing production," noting that "these projects, being huge factories operating with modern technologies, will require several years to complete their construction and operation."
She added, "The coming years will witness a qualitative leap in the industrial sector through new projects and modern production lines." https://www.mawazin.net/Details.aspx?jimare=260195
Industry: 196 Partnership Contracts With The Private Sector To Boost Production
Aluminum factory in Iraq. "Internet" Money and Business Economy News – Baghdad The Ministry of Industry confirmed on Saturday that the industrial sector will witness a qualitative leap in the coming years, noting that 196 partnership contracts have been concluded with the private sector to boost production.
Ministry spokeswoman Dhuha Al-Jubouri said in a statement reported by the official news agency and reviewed by Al-Eqtisad News, "The ministry did not adopt the full privatization of factories, but rather resorted to partnerships with the private sector in accordance with the ministry's partnership law."
She noted that "the number of effective partnership contracts has reached 196, distributed among 27 companies."
She added that "50 of these contracts were concluded during the period from October 27, 2022, until now."
She explained that "some contracts have been signed, while others are still under study or in the foundation stone laying stage," noting that "the partnerships covered multiple sectors, including communications and energy, which included the manufacture of power stations and transformer assembly, the petrochemical industry, as well as the automotive industry, which included the assembly and manufacture of machinery, in addition to armoring and conversion projects for various wheels."
She continued, "The partnerships included the mining, electrical, and construction industries, as well as the maintenance and rehabilitation of gas turbine units, in addition to the establishment of new factories to produce phosphate fertilizers, medicines, insulin, and human vaccines."
Al-Jubouri emphasized that "these contracts will contribute to improving and increasing production," noting that "these projects, being huge factories operating with modern technologies, will require several years to complete their construction and operation."
She added, "The coming years will witness a qualitative leap in the industrial sector through new projects and modern production lines." https://economy-news.net/content.php?id=53424
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
