Deputy Prime Minister and Foreign Minister Chairs Ministerial Council for Economy 17th Meeting

On Monday, June 10, 2024. Deputy Prime Minister and Foreign Minister Fuad Hussein, chaired the Ministerial Council for Economy 17th Meeting. The Meeting was attended by Deputy Prime Minister and Minister of Planning, the Ministers of Industry, Labor and Social Affairs, the Secretary General of the Council of Ministers, the Governor of the Central Bank of Iraq, Prime Minister’s advisors for Economic and Legal Affairs, and Chairman of the Securities Commission. 

The Council discussed the topics on its agenda and took the necessary decisions regarding them.

The Council also hosted the Chairman of the Federal Board of Supreme Audit, his Deputy, and the Director General of the Legal Department of the Board to study and evaluate partnership contracts between the public and private sectors, and to determine the economic viability of continuing or terminating them. The Chairman of the Board reviewed those contracts that were divided between important contracts that benefit the state budget, and others that lacked economic viability. The Council decided to continue the discussions in the presence of representatives of the relevant ministries in order to resolve this important issue.

The Council also decided to approve the recommendations of the committee formed to study the adoption of Iraqi, Gulf, or higher specifications when importing vehicles, in order to preserve the lives and safety of citizens and users of vehicles and roads.

Additionally, the Council discussed determining the contribution of foreign capital in Iraqi banks, and in line with the state’s general policy in supporting the Iraqi and foreign banking sector and foreign investments in Iraq, the Council decided to support the independence of the Central Bank of Iraq in formulating monetary policy in accordance with its applicable laws and instructions.

The Council hosted the Technical Undersecretary of the Ministry of Environment to discuss supporting the Ministry’s projects aimed at implementing the government program, and removing obstacles hindering its implementation.