Deputy Prime Minister and Foreign Minister Fuad Hussein Chairs 8th Meeting of Ministerial Council for Economy for 2025

Deputy Prime Minister and Foreign Minister Mr. Fuad Hussein, chaired on Monday, March 10, 2025, the eighth meeting of the Ministerial Council for Economy which was held at the Council’s headquarters, with the attendance of the Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Trade, Agriculture, Industry, Labor and Social Affairs, in addition to the Secretary-General of the Council of Ministers, the Governor of the Central Bank, the Undersecretary of the Ministry of Oil, the Vice Chairman of the National Investment Commission, and the Prime Minister’s Advisors for Economic and Legal Affairs.

The Council hosted the Minister of Interior to discuss the rehabilitation of vehicle registration sites and issue driving licenses throughout Iraq project, in addition to the smart signals project and the radar system in Baghdad, the Minister outlined that these projects will contribute to improving services provided to citizens, enhancing traffic flow, and reducing congestion. The Council supported the measures taken by the Ministry in this regard, and recommended submitting them to the Council of Ministers.

As well the Council discussed with the Deputy Prime Minister and Minister of Oil the completion of the budget tables, as the Minister provided a detailed explanation of the reality of the local and global oil market, in terms of prices and expected production quantities, expenses required to manage extraction and marketing processes, and the purchase of petroleum products, in addition to expected revenues from the oil sector. 

The Council hosted the Undersecretary of the Ministry of Electricity and officials in the Ministry, in addition to the Director General of the Trade Bank of Iraq and a number of heads of investment companies specialized in the energy sector, to review investment contracts and discuss the best ways to ensure the continuity of electricity supplies, especially with the approach of summer.

Additionally, the Council hosted the head of the Central Organization for Standardization and Quality Control, to discuss the Ministry of Planning’s request to postpone the implementation of the Iraqi specification for vehicles, and organize the process of issuing car import licenses until the end of this year, the head of the organization explained that the postponement will enable the concerned authorities to complete the required technical procedures, in line with the Consumer Protection Law and the Competition and Prevention of Monopolies Law, the Council approved the request, setting December 31, 2025 as the final date for implementation.