Ministry of Finance Announces Iraq's Economic Vision until 2050 to Reduce Oil Dependence and Empower the Private Sector

mesoiraq Minister of Finance Faleh Sari announced that Iraq's economic vision aims to reduce reliance on oil, empower the private sector, and enhance inclusive and sustainable growth by strengthening institutions. This came during a speech delivered at the meetings of the International Monetary Fund and the World Bank Group in the Thai capital, Bangkok, as part of enhancing cooperation with international financial institutions and supporting the path of economic and financial reform in Iraq. Sari held a series of meetings with IMF officials, beginning with the Executive Director for Iraq and the region, Mohamed Maait, and incoming Executive Director Ali Al-Hassani, in the presence of Central Bank Governor Nizar Nasser Hussein, discussing economic and financial conditions in Iraq. The Minister also met with the Regional Director of the IMF Technical Assistance Department, Ali Abbas, to explore technical cooperation and benefit from the Fund's expertise in developing financial and economic policies. Sari emphasized the partnership with the IMF in supporting reform efforts, expressing confidence in completing financial reforms over the next two years. Addressing current challenges, he noted the repercussions of the Strait of Hormuz crisis on the Iraqi economy, explaining that the government is preparing immediate remedies and future solutions, with a genuine orientation to support the private sector.