Deputy Prime Minister and Foreign Minister Chairs Ministerial Council for Economy 18th Meeting

On Monday, June 24, 2024. Deputy Prime Minister and Foreign Minister Fuad Hussein, chaired the Ministerial Council for Economy 18th Meeting. The Meeting was attended by Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Trade, Agriculture, 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, Chairman of the Securities Commission, and Oil Ministry Undersecretary.

The President of the Council offered congratulations to the Iraqi people in general and members of the Council in particular on the occasion of Eid Al Adha.

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

The Council approved the Ministry of Transport’s request to refer the construction of railway line between the city of Basra and the Shalamcheh port, as far as financial powers are concerned.

The Council approved the national lending strategy after the Central Bank Governor gave a briefing on the strategy and what the bank implemented during previous lending initiatives.

The Council also decided to hold a special session to discuss all opinions, ideas and proposals regarding maximizing the state’s non-oil revenues. In addition to the Council approved that Ur State Company, a subsidiary of the Ministry of Industry, purchase damaged cables and wires from the Ministry of Electricity and all its formations, for a price to be agreed upon between the two parties.

As well as the Council decided to hold a special session for the Council in the Kurdistan Region, to resolve all outstanding economic issues with the participation of all economic formations in the federal government and the regional government.

The Council reviewed the technical report prepared by the Ministry of Commerce on the work of private mills, and decided to support the Ministry’s measures to improve the quality of flour production provided to citizens, as well as to approve the transfer of ownership of the mills.

The Council also decided to approve the cancellation of the withdrawal of the work from the company executing the contract to supply (16) spherical tanks du to the completion rates reaching final stages.

At the request of the Ministry of Agriculture, the Council decided to open the import of winter crops (cabbage, cauliflower, lettuce, turnips, and beets).