Iraqi PM Highlights Economic Reforms, Salary Disparities, and Investment Gains

PUKMEDIA

Iraqi PM, Mohammed Shia' al-Sudani.

Iraqi Prime Minister Mohammed Shia' al-Sudani confirmed that the Iraqi government is reviewing discrepancies in the public sector salary scale while implementing wide-ranging economic reforms.

In a televised interview, al-Sudani noted that Iraq employs 4.55 million people, with nearly 3 million retirees, and highlighted that 43 million citizens benefit from the food ration card system, although 4.5 million ineligible recipients have been identified.

The Prime Minister emphasised that over 22 trillion dinars are spent annually on the energy sector, with 12 trillion allocated to public service projects and 6 trillion to social protection. He also cited successful reforms that reduced electricity costs by 43% and increased gold reserves from 130 to 172 tons.

Al-Sudani confirmed a decline in inflation from 7.5% to 2.7% and stabilisation of the exchange rate, crediting government-backed banking reforms and oversight measures. He stressed the need to amend laws relating to additional allowances and ensure fairness in the public sector.

Highlighting major investment projects, he mentioned the $26 billion development of four Kirkuk oil fields, the return of ExxonMobil, Chevron, and Halliburton due to transparent procedures, and the completion of 66 streets in Sadr City funded through investment licences. He also pointed out advances in associated gas projects, the first kerosene exports, and the construction of a submerged tunnel for oil, gas, and communications transport.

Al-Sudani concluded that while Iraq faces global economic challenges, reforms, investments, and improved oversight have strengthened stability and provided alternative options for citizens across social classes.


PUKMEDIA