Head of the Exchange Market Council in Erbil: The dollar may reach 1,500 dinars.
The head of the Exchange Market Council in Erbil, Siyamand Mawloud, stated that "the Central Bank of Iraq's rejection of merchant invoices in the Kurdistan Region is the main reason behind the decline in the value of the dinar and the increase in demand for the dollar in the free market."
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Mawloud said in a press statement that "about 75% of invoices submitted by Kurdish merchants are rejected or delayed for long periods, forcing them to resort to the black market."
He explained that "when a merchant tries to buy dollars through the official platform at a rate of 1,320 dinars, he is required to provide import invoices, but most of them are not accepted." He pointed out that "some merchants have been waiting for more than 40 days without their funds being transferred to their bank accounts, which prompts them to withdraw their funds and exchange them for dollars on the free market.
" Mawloud pointed out that "these measures have directly increased demand for the dollar, raising its price in the market." He explained that
"the process used to take only 10 to 15 days, but it has been practically halted for more than a month." He added, "If this situation continues, the price of $100 could reach 150,000 dinars, as all traders will be forced to buy hard currency from the local market."
The head of the Exchange Market Council pointed out that "the lack of transparency in the Central Bank's work has contributed to the exacerbation of the crisis." He explained that it used to announce daily dollar sales volumes, such as $120 million, of which $100 million were transfers and $20 million in cash. However, this announcement has now stopped, and neither the amount sold nor the beneficiaries are known, which has negatively impacted market stability."
Hunt Oil resumes operations in Kurdistan
Hunt Oil has resumed operations in Iraq's semi-autonomous Kurdistan Region, a company spokesperson said on Friday, nearly a month after a drone attack struck an oilfield operated by the US company in Duhok.
The company expects to be back to normal production by the end of August, the spokesperson said.
Other oil producers, including Norway's DNO, have made similar announcements about resuming production at oilfields in Kurdistan that were hit by drones last month.
Iraq to allow oil firms operating in Kurdistan Region to open foreign accounts, clearing way for exports
In response to demands from oil companies, the Iraqi government will allow firms operating in the Kurdistan Region to open bank accounts abroad to deposit their financial dues, a government source told Zoom News, revealing most companies have confirmed they are ready to resume exports without conditions.
The move follows companies telling Iraqi officials they do not trust Iraqi banks, the source added.
Since Friday, virtual meetings between oil companies, the Iraqi Oil Ministry, and the Kurdistan Regional Government’s (KRG) Ministry of Natural Resources have been ongoing. The meetings were described as constructive, with most obstacles to exports having been removed, the source said.
Zoom News has learned that Russian oil companies and the Erbil-based Kar Group have so far expressed readiness to resume oil exports unconditionally from the Khurmala oil field to Turkey’s Ceyhan Port.
Oil exports through the Iraq-Turkey pipeline have been suspended since March 2023, following an international arbitration ruling in favor of Baghdad, which challenged the Kurdistan Regional Government’s independent oil sales.
KRG delegation to visit Baghdad for oil and revenue talks
A senior Kurdistan Regional Government (KRG) delegation is set to visit Baghdad this week to negotiate non-oil revenue transfers and finalize the handover of oil exports to Iraq’s State Oil Marketing Organization (SOMO), according to a KRG source.
The source told Shafaq News that the delegation will include Finance Minister Awat Sheikh Janab and Acting Natural Resources Minister Kamal Mohammed Salih.
The KRG has allocated 120 billion dinars (approximately $84.24M) in non-oil revenue collected in June, which will be deposited into the Federal Finance Ministry’s account at the Central Bank branch in Erbil, the source added.
The visit follows an August 19 meeting on salary payment mechanisms for Kurdish employees—long a flashpoint between Erbil and Baghdad—after both sides agreed on an oil export framework, seen as a critical step toward unlocking delayed salaries.
Kurdistan Delegation Heads to Baghdad for Talks on Salaries, Revenues, and Oil Exports
link from Kurdish news
An Iraqi Finance Ministry source told Kurdistan24 that salary disbursement for KRG civil servants will not proceed until the Iraqi Council of Ministers meets on Tuesday to approve a mechanism.
A delegation from the Kurdistan Regional Government (KRG) is scheduled to travel to Baghdad on Sunday to continue negotiations with Iraqi officials over unresolved financial disputes and the disbursement of salaries, according to Kurdistan24’s correspondent in Baghdad, Dilan Barzan.
The visit comes less than a week after another KRG delegation met with Iraq’s Finance Minister Taif Sami to discuss federal budget allocations and oil revenues.
According to Barzan, two major issues remain unsettled between Erbil and Baghdad: the sharing of federal revenues—where Iraq has demanded 50 percent of the income from ministries it classifies as federal—and customs duties, which have yet to be standardized between the two governments.
An Iraqi Finance Ministry source told Kurdistan24 that salary disbursement for KRG civil servants will not proceed until the Iraqi Council of Ministers meets on Tuesday to approve a mechanism. The joint ministerial committees are expected to submit their final draft agreements to Prime Minister Mohammed Shia’ al-Sudani before any payments are authorized.
The talks also touch on the resumption of Kurdistan’s oil exports through Turkey’s Ceyhan port. Resuming exports has been suspended due to disputes between the Iraqi Oil Ministry and three U.S.-based companies operating in the Kurdistan Region. Baghdad has demanded revised terms, while the companies insist on guarantees for overdue financial entitlements, according to Kurdistan24 correspondent.
A source within Iraq’s Oil Ministry told Kurdistan24 that a draft agreement is “in its final stages.” Turkey has reportedly given its consent to resume exports once contracts are finalized. The U.S. Embassy in Baghdad has pressed both sides to reach a “tripartite arrangement” with the companies to safeguard their financial rights and expedite oil flows.
On August 20, a KRG delegation met Finance Minister Sami and agreed on allocations from non-oil revenues for July to December 2025, as well as revenue-sharing from border crossings. However, customs and taxation remain unresolved.
In parallel, both governments agreed to complete the process of transferring KRG civil servants’ salaries into the banking system by the end of this year.
The current disputes echo a long pattern of Baghdad’s failure to honor financial and political agreements with the Kurdistan Region. Since the fall of Saddam Hussein’s regime in 2003, successive Iraqi governments have repeatedly signed deals pledging to secure the constitutional rights of the Kurdish people but have consistently withheld budget allocations, delayed salary payments, and weaponized financial transfers to pressure Erbil politically.
Baghdad’s recurring policy of withholding the Kurdistan Region’s budget has had severe consequences, most notably in 2014 and again in 2020, when millions of Kurdish civil servants and their families were left without salaries for months. Such unilateral actions have not only strained the livelihoods of ordinary citizens but also undermined the spirit of the 2005 Iraqi Constitution, which enshrines Kurdistan’s autonomy and guarantees its share of national revenues. These measures have further deepened Kurdish mistrust toward Baghdad’s long-term intentions.
In more recent years, Baghdad has also sought to centralize control over oil and customs revenues in clear violation of constitutional provisions granting the Kurdistan Region authority to manage its natural resources. This approach has not only disrupted the Region’s economic development but has also stifled efforts to diversify non-oil sectors such as agriculture, industry, and tourism.
While Erbil has shown willingness to compromise and negotiate mechanisms for transparency, Baghdad has often turned agreements into political tools, releasing funds only when under pressure from international actors. For many Kurds, this pattern reflects not just financial mismanagement but a broader strategy of marginalization, designed to weaken the Region’s autonomy and deny it the economic independence necessary for stability and prosperity.
Economic Observatory: The Central Bank of Iraq "Slaughters" National Capital and Opens the Door to Monopoly (Documents)
An Iraqi economic observatory said on Saturday that the Central Bank is "slaughtering" national capital and granting private banks control over foreign assets. It did so by imposing what it described as "unreasonable conditions" that place banks under "foreign monopoly."
The Echo Iraq Observatory, which specializes in economic affairs, revealed documents detailing the new instructions issued by the Central Bank of Iraq to private banks, noting that they "make it difficult for local investors to conduct their business," according to the observatory's head, Ali Naji.
Naji stated in a statement to Shafaq News Agency, "The Central Bank has circulated four documents as binding instructions for private commercial and Islamic banks operating in Iraq," noting that "these instructions represent the continuation of the banks' operations, and if they are not implemented, the bank may be subject to liquidation or forced to merge with another bank."
He explained that "the instructions allow large institutional investors to own up to 60% of bank shares, but stipulate that the investor's assets must be no less than four trillion Iraqi dinars (about three billion dollars)," adding that "this condition is only available to global banks or foreign sovereign wealth funds."
The observatory continued, "If this is not achieved, investors or capital holders may enter with only 10% of the shares, or 20% with the approval of the Central Bank." It noted that "these instructions have been implemented since this August, and bank owners must adhere to them or their licenses will be revoked."
The observatory's head believes that "local Iraqi investors may find themselves excluded from investing in their banking sector," explaining that "although these instructions aim to enhance transparency and prevent monopolies, they may create adverse risks represented by weakening the role of national capital and transforming the Iraqi banking market into an investment arena for foreign parties at the expense of local investors."
According to the Observatory, the issued documents included:
Central Bank Guide to Detailed Evaluation of 2025 Standards (47 pages).
Standards Booklet (17 pages).
Banking Reform Initiative (19 pages).
Banks' Undertaking Document (12 pages).
An economist reveals the size of Iraq's internal debt and warns of seven risks.
Economist Nabil Al-Marsoumi revealed that Iraq's domestic debt has increased "significantly" over the past two years, warning of seven risks stemming from this debt, some of which directly impact citizens' standard of living.
Al-Marsoumi stated in a post on his social media account, on Saturday, August 23, 2025, that "Iraq's domestic debt has recorded a significant increase over the past two years, rising from 70.575 trillion dinars at the end of 2023 to 83 trillion dinars at the end of 2024, then rising at the end of the first half of 2025 to 92.2 trillion dinars, of which 47% is deducted from remittances at the Central Bank of Iraq."
According to the economic expert, this debt has increased as a result of financing the general budget deficit resulting from excessive operating spending.
Al-Marsoumi warned of "negative repercussions," which he summarized in seven points, as follows:
1. A decrease in the real value of government financial assets and thus a decrease in the government’s ability to repay.
2. Deepening the rentierism of the economy through excessive operational spending and neglecting investment in strategic economic activities.
3. Increasing the burden on the general budget and exacerbating its actual deficit.
4. Negative impact on prices, which raises the level of inflation (unless there is coordination between monetary and fiscal policies).
5. Negative impact on monetary authority instruments.
6. The negative impact on economic growth, “because investing in government debt instruments becomes more attractive to the banking sector than expanding credit to the riskier private sector.”
7. The increase in domestic debt service premiums, which reached 9.342 trillion dinars in 2024, may negatively impact citizens’ standard of living (if accompanied by a shortage in the government’s available liquidity, it may force it to reduce social spending necessary to reduce unemployment and poverty rates).
A crisis of confidence and banking red tape... Why do Iraqis keep billions of dollars at home?
Al-Marsoumi told Al-Furat News: "This crisis has worsened after the Central Bank recently announced that 10 banks were unable to return citizens' financial deposits, a situation that had previously occurred with another group of banks."
He also considered that "red tape is a major reason why citizens are unable to withdraw their entire amounts of money, as banks divide them into portions, which is unacceptable."
Al-Marsoumi added, "The complexities, mistreatment, and difficulty in recovering deposited funds are all factors that prevent citizens, especially merchants and contractors, from depositing their money in banks."
The expert concluded his remarks by emphasizing "the need for banks to develop their interactions with the public to build mutual trust," noting that "the current situation stems from a loss of confidence in the banking system and its complex procedures."
Finance Committee: Salaries are secure and not affected by Iraq's financial situation.
"Salaries have never been affected by any financial situation in Iraq and will remain secure, and no government or party can touch them," Kocher told Al Furat News.
He explained that "only the investment budget is affected, as it depends on oil prices and the government's non-investment resources, in addition to the extent of its fight against corruption."
Public Finance: Between Rentier Spending and Delayed Austerity: Domestic Debt Harbingers of a Silent Explosion
Al-Masala: Iraq's domestic debt is rapidly rising, jumping from 70.5 trillion dinars at the end of 2023 to 83 trillion dinars at the end of 2024, reaching 92.2 trillion dinars by mid-2025—the highest figure in the history of public finances. This escalation reveals a complex dilemma related to the structure of a rentier economy based on financing the deficit through borrowing, placing the state in a difficult position between its need for operational spending and its commitments to development and stability.
Economic expert Nabil Al-Marsoumi said that the rise in debt has negative repercussions, including a decline in the real value of government financial assets and a consequent decline in the government's ability to repay. It also deepens the rentier nature of the economy through excessive operational spending and neglect of investment in strategic economic activities, in addition to increasing the burden on the general budget and worsening the actual deficit.
This expansion in domestic debt erodes the real value of government assets, weakening the state's ability to meet its obligations in the medium and long term and placing pressure on the stability of the financial system as a whole. The risk is most evident when operating spending comes at the expense of investment in strategic sectors, reproducing the rentier economy and perpetuating its structural fragility.
This reality exacerbates the burden on the general budget and deepens its actual deficit, rendering any increase in oil revenues incapable of addressing the structural imbalance. Furthermore, domestic debt disrupts the balance between fiscal and monetary policies, making controlling inflation more difficult and weakening the impact of the central bank's monetary market management tools.
Banks' reliance on government debt instruments diverts attention from financing the private sector, declining investment and production opportunities and strengthening the recessionary environment. Meanwhile, debt servicing costs, which reached 9.3 trillion dinars in 2024, rise. This opens the door to reducing social spending necessary to address unemployment and poverty, threatening long-term social and political stability.
The crisis appears to be more than just inflated figures on the Ministry of Finance's spreadsheets. Rather, it is a vivid illustration of the nature of the Iraqi economy, which is under the pressure of temporary, immediate obligations, while structural reforms are repeatedly postponed.
A US delegation visits Baghdad to discuss a number of issues. Withdrawal is on the table.
A high-level US delegation is scheduled to visit the Iraqi capital, Baghdad, in the coming days to discuss a range of issues with Iraqi officials.
According to an informed source who spoke to Shafaq News Agency, the delegation will discuss the US withdrawal from its main bases in Iraq and its repercussions, in addition to an economic file and another related to energy.
The US delegation is also scheduled to visit the Kurdistan Region, according to the source, to discuss several issues, including the repercussions of the recent events in Sulaymaniyah.
Relations between the United States and Iraq have been at a diplomatic standstill since Donald Trump took office. Communication and meetings have been limited to the Chargé d'Affaires of the US Embassy in Baghdad, Stephen Fagin, and a single call received by Prime Minister Mohammed Shia al-Sudani from Secretary of State Marco Rubio.
This comes as the first phase of the US-led international coalition's withdrawal from Iraq has begun, with a US military convoy already departing Ain al-Asad base for Syria last Monday.
The schedule includes the withdrawal of international coalition forces from Ain al-Asad base and Baghdad by the end of September 2025, with a portion of them being transferred to Erbil and Kuwait. Meanwhile, the number of troops will gradually decrease from approximately 2,000 to less than 500 in Erbil.
US delegation to visit Iraq as troop withdrawal advances
A senior US delegation is due in Baghdad in the coming days for talks on the withdrawal of American forces as well as economic and energy issues, a source told Shafaq News on Saturday.
The group is also scheduled to travel to the Kurdistan Region to address several files, including the recent unrest in al-Sulaymaniyah, the source added.
The visit coincides with the start of the Global Coalition’s drawdown. Earlier this week, a US convoy left Ain al-Asad base for Syria, with full withdrawals from Ain al-Asad and Baghdad planned by the end of September 2025. The American troop presence will then shrink from around 2,000 to fewer than 500, concentrated mostly in Erbil.
Experts: Rafidain Bank has closed the door to those lurking.
Experts believe that the partnership agreement signed by Rafidain Bank with the American company K2 Integrity represents part of a series of international contracts concluded by the bank with American financial institutions aimed at restructuring the bank and developing its electronic and banking procedures.
The bank's general manager, Ali Al-Fatlawi, emphasized that this partnership represents a "professional and legal bulwark that will block the path of those who are lurking," explaining that it will establish clear and transparent rules for governance and compliance, ensuring that "the voice of reform reaches the world, not the voices of deception or politicization."
Al-Fatlawi described the agreement with the international company as a "certificate of integrity and trust" and a clear message that Rafidain Bank is "leading a new path that will place the Iraqi banking sector in its rightful place."
New start
International expert Saif Al-Halfi explained that the importance of the announcement of the signing of the partnership agreement between Rafidain Bank and K2 Integrity in Washington lies in its timing, which coincided with escalating international pressure on the Iraqi banking sector in general, and on government banks, particularly Rafidain Bank.
Speaking to Al Sabah, Al Halfi explained that this step represents a strong response to the unofficial accusations recently leveled against one of the bank's branches, emphasizing that it lays the foundation for a new beginning through a comprehensive suite of services that relies on the bank's professionalism and efficiency in complying with anti-money laundering and counter-terrorist financing (AML/CFT) standards.
He added that the partnership agreement, from a legal and technological perspective, effectively consolidates compliance systems that are compatible with international standards, particularly those adopted by Washington, the international community, and the G7 countries. He noted that this strengthens the position of the Iraqi banking sector on the global financial system map.
Strengthening the regulatory structure
Al-Halfi added that the essence of the partnership agreement between the two parties lies in developing international legal frameworks within anti-money laundering systems, while providing the bank with the necessary technologies to implement these frameworks and strengthen its regulatory infrastructure. This will serve the public dealing with Rafidain Bank, the first government-owned bank established in the country and a cornerstone of banking operations.
Money laundering and terrorist financing
Al-Halfi pointed out that the contract focused on specific concepts, most notably enhancing anti-money laundering and counter-terrorism financing (AML/CFT) measures, explaining that Iraqi banks are in dire need of designing and implementing more effective frameworks and procedures that rely on automation and high accuracy.
He explained that the agreement also includes enhancing the efficiency of the bank's internal reporting and oversight, as some of these systems were previously unable to perform their role with the required effectiveness.
Compliance with international standards
Al-Halfi explained that the purpose of the partnership agreement is to align local policies, regulations, and Iraqi laws with international standards, noting that the agreement includes the highest levels of governance regarding internal controls, risk management, and reporting.
More comprehensive banking reform
The international expert believes the contract will contribute to strengthening the regulatory structure of the Iraqi banking sector, as internal oversight is the true foundation for evaluating banking operations. He emphasized that K2 Integrity's expertise will positively impact not only Rafidain Bank, but all Iraqi banks as part of a broader government reform process aimed at restructuring the financial sector and enhancing the international community's confidence in it.
Open work paths
Financial affairs expert Dr. Mustafa Akram Hantoush told Al-Sabah that the reforms taking place at Rafidain Bank are extremely important, noting that the bank's contract with the international company K2 is a qualitative step. He said that this contract will expand Rafidain Bank's work paths internationally, and this move distances it from the stagnation that negatively impacts a bank of this size, as it has 100 branches inside Iraq and 9 abroad.
He added that this cooperation with a global company will inevitably achieve positive results and enable the bank to open an account in one of the largest global banks, which signifies a new phase of international cooperation.
Improving banking foundations
In a related development, financial expert Sherwan Anwar Mustafa told Al-Sabah that Rafidain Bank is among the Iraqi banks seeking to improve its banking foundations and international reputation. He explained that Rafidain Bank is a key partner of IQ, which is a strategic partner allied with K2.
Mustafa added that the gateway to international confidence in Iraqi banks could stem from such a solid partnership or cooperation, sending reassuring messages to the international financial sector. He explained that Iraq is entering a new phase of banking operations that will transform it into a truly open country to global financial efforts, where all financial standards applicable to money movements will be implemented, thus making our banks part of the global financial system.
Economist: Raising Iraq's Credit Rating Is Key to Attracting Investment and Reducing Borrowing Costs
from telegram
Economic expert Ahmed Abd Rabbo stressed that improving Iraq's credit rating represents a pivotal step toward reducing sovereign loan interest and boosting foreign investor confidence. He noted that most international investments do not flow to a country unless its credit rating is satisfactory and high.
Abd Rabbo explained in an interview with ABC Arabic that raising a country's credit rating sends a positive signal to global financial institutions and contributes to increased investment. He noted that the Iraqi government, in coordination with the Central Bank, is moving toward reforming the banking system, considering it "the primary interface of the economy." A strong economy cannot be built without a banking system capable of meeting market and financing needs.
He added that improving the rating is not impossible, but it requires comprehensive practical steps, starting with diversifying sources of income and strengthening non-oil sectors such as agriculture, industry, and services, along with financial reforms that reduce the deficit and control public spending.
He stressed that political and security stability are essential pillars, as international financial institutions assess Iraq's ability to simultaneously repay and manage risks. This makes progress in combating corruption and enhancing financial transparency crucial factors in improving investor confidence.
Abd Rabbo explained that improving the credit rating has positive repercussions and enhances confidence in the national economy, which contributes to achieving broader monetary and financial stability and consolidates Iraq's position in the global financial system.
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Iraq, Oman discuss Data Centre / Fibre Optic Project
The National Investment Commission (NIC) has hosted a high-level meeting with an Omani delegation to discuss the establishment of advanced international data centres and the transit of fibre optic cables in Iraq under an investment model.
The meeting, chaired by NIC Chairman Dr Haider Mohammed Makiyya, was attended by Oman's Ambassador to Iraq, Mahmoud bin Mahna al-Kharousi, officials from the Omani Ministry of Transport, Communications and Information Technology, and a delegation of investors and experts.
Dr Makiya welcomed the delegation, highlighting the importance of strengthening Omani investment in Iraq's digital economy. The project is expected to enhance internet services, provide state-of-the-art digital infrastructure, and support e-government initiatives across state institutions.
He added that the initiative would have a wide-ranging impact on Iraq's economic, educational, and healthcare sectors, while boosting revenues by leveraging the country's strategic geographic location.
Both sides agreed to hold regular follow-up meetings to review technical models and expand cooperation, with the Omani delegation confirming full support for the project, including the possibility of financing.
Iraq's foreign reserves decline by about $1 billion per month.
The head of the Iraq Future Foundation, Munar al-Obaidi, revealed a decline in Iraq's foreign exchange reserves, warning of its impact on inflation and monetary stability.
Al-Obaidi said in a post, "In late 2022, Iraq's foreign reserves (including foreign currencies, gold, and securities) amounted to approximately $91 billion, compared to a cash flow issued by the Central Bank that amounted to 83 trillion Iraqi dinars at the time."
He added, "With improved oil prices and increased revenues, foreign reserves rose to a peak of $120 billion in mid-2023, while the money supply reached approximately 100 trillion Iraqi dinars."
He continued, "However, this trend quickly reversed after mid-2023, as reserves began a steady decline, reaching their lowest level of $92 billion in June 2025, a 22% decline and an estimated loss of $1 billion per month, while the money supply maintained its level of approximately 100 trillion dinars."
He explained that "this decline in foreign reserves, coupled with the stability of the monetary mass, carries a number of risks, including rising inflation in the medium term due to the widening gap between issued currency and foreign exchange reserves, and pressures on the balance of payments that could lead to a further decline in reserves, especially with the decline in oil prices and the rise in the import bill."
Among the pressures he listed: "The erosion of monetary stability if the current rate of decline, estimated at $1 billion per month, continues."
He pointed out that "estimates indicate that reserves could fall to less than $85 billion by the end of this year, given that the money supply remains at its current levels or even increases. Although reserves are still relatively high compared to the volume of monetary issuance, a continued decline poses a real threat in the medium and long term."
He added, "The current situation calls for a realistic financial reform plan based on reducing unproductive public spending and improving the balance of payments by boosting exports and reducing overreliance on imports." He emphasized that "halting the decline in foreign reserves has become an urgent necessity to avoid serious repercussions that could affect the stability of the Iraqi economy in the medium and long term."
Al-Sudani: There are parties seeking to stir up crises because the atmosphere of success and stability provokes them.
Prime Mnister Mohammed Shia al-Sudani affirmed on Saturday that there are parties provoked by success and stability and seeking to stir up crises and problems based on calculations far removed from religious, moral, or national standards .
Al-Sudani's media office said in a statement received by Mail that the latter "received the executive management of the Supreme Council for Youth and the council's coordinators in the governorates, on the occasion of the second anniversary of the council's founding. He offered his condolences to those present and to the Islamic nation on the occasion of the anniversary of the death of the Holy Prophet Muhammad, may God bless him and his family and grant them peace, stressing that the Great Messenger is a role model for youth in honesty, integrity and work, asking God Almighty that everyone be among those who follow his path and approach ."
According to the statement, Al-Sudani congratulated "the second anniversary of the founding of the council, which represents one of the milestones he is personally proud of, due to his absolute belief that the country cannot rise after the rubble of four decades except through the youth, as they are one of our country's most important resources." He stressed that "the decision to form the council came to be an umbrella to coordinate the efforts made by ministries and institutions, as well as youth initiatives ."
He stressed the "necessity of focusing the efforts of all authorities and institutions on addressing the challenges facing Iraqi youth, who are distinguished by their intelligence, competence, potential, strength, zeal, and courage," explaining that "the move toward investing in the energy of youth must be based on sound planning, far removed from emotions and fleeting events ."
He pointed out that, "Rebuilding trust requires a course of action with goals and priorities, according to an organized program. We will not pay attention to attempts to cast doubt on initiatives and proposals related to youth under the pretext of exploiting them for an electoral or political project, because the pillars of our entire project are youth ."
He added, "There are parties that are provoked by success and stability and seek to stir up crises and problems based on calculations far removed from legal, moral, or national standards ."
He explained that, "The largest percentage of Iraq's population is young people, exceeding 60%, and we aspire to continue with this project and the initiatives it has presented, which have received a great response and interaction ."
He continued, "Our responsibility and work must be doubled, because the youth have placed their trust in this project and any defect will lead to its weakening," pointing out that "the entrepreneurship project included (500) thousand young men and women who applied electronically, (91) thousand underwent training, (48) thousand passed the training, and (20) thousand transactions were completed to grant them project loans ."
He continued, "We are working to establish small projects in the near future to become medium-sized companies, which will then transform into large corporations." He noted that "the Supreme Council for Youth's beginnings are encouraging, and we are optimistic about achieving good results. There is proper work and follow-up on activities, and the government looks to the near future with optimism, and this is important for addressing the frustration of some young people
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