Al-Daraji: Government Priorities Are Strengthening the Economy
Mohammed Sahib Al-Daraji, Advisor to the Prime Minister for Technical Affairs and Head of Sovereign Guarantees, confirmed that the government's priorities are to strengthen the Iraqi economy.
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Daraji said during his attendance at the meeting of the International Export, Trade and Project Finance Corporation held in Dubai, in a statement received by the Iraqi News Agency (INA), that "Iraq is a stable country with a strong economy," stressing that "Iraq welcomes direct investment through private sector financing."
Daraji indicated that "the Iraqi government's priorities are to strengthen the Iraqi economy, of which the private sector is one of the most important pillars, through the Sovereign Guarantees Initiative, localizing industry and agriculture, and opening the way for international financing companies."
The Prime Minister arrives in Sulaymaniyah
Prime Minister Mohammed Shia al-Sudani arrived in Sulaymaniyah, in the Kurdistan Region of Iraq, on Wednesday.
The Prime Minister's media office stated in a statement received by Al-Eqtisad News that "Prime Minister Mohammed Shia al-Sudani arrived in the city of Sulaymaniyah in the Kurdistan Region of Iraq to participate in the (Ninth Sulaymaniyah Forum)."
Sulaymaniyah Forum: Al-Sudani: I will definitely run for the upcoming Iraqi elections.
Prime Minister Mohammed Shia Al-Sudani affirmed today, Wednesday, at the ninth Sulaymaniyah Forum that, “Sulaymaniyah is a city of beauty, culture, art, and honorable history in the face of tyranny. Today, Sulaymaniyah, like the rest of the cities of the region and the governorates of Iraq, is experiencing an atmosphere of increasing development and is reaping the fruits of stability within a process in which all Iraqis have sacrificed.”
Al-Sudani added, "Our efforts since day one have been dedicated to putting Iraq first, and our concern is the citizen with all his ambitions. From this belief, the government's work methodology was launched. Over the two and a half years, we have given exceptional care to the youth empowerment file."
The Prime Minister continued, "Our people have lived through long years of oppression and pressure, and have borne the burdens of adventures and attacks. Today, we are entering the second quarter of the twenty-first century, and our country is full of unique success stories in every corner of it. In every Iraqi city, there is a tireless service and construction workshop. We have given exceptional care to the "Youth Empowerment" file. Youth are our first weapon to confront the challenges of the future. Infrastructure has grown in all Iraqi cities, and the faltering inherited projects have decreased to less than 850 projects, after they used to number in the thousands."
He revealed, "We have embarked on the highest production plan to build power plants and enter for the first time into solar, clean, and renewable energy projects, and the rate of gas flaring cessation has exceeded 70 percent."
The Prime Minister hinted at his candidacy in the upcoming legislative elections, amid preparations by national political forces and the Independent High Electoral Commission.
Sulaymaniyah Forum... Barham Salih: We have the ability to dialogue to create a better future.
Former President Barham Salih announced the launch of the 9th Sulaymaniyah Forum this morning, Wednesday.
In his opening remarks, Saleh stressed that "the current situation and the negotiations between America and Iran place us at a historic stage to achieve a dignified life for our people."
Saleh pointed out that our region has suffered from violence, wars, and conflict, and we must move to a new reality. We have the ability to engage in dialogue to create a better future.”
The activities of the 9th Sulaimaniyah Forum began this morning, Wednesday, April 16, 2025, at the American University in Sulaimaniyah, and will continue for two days.
The ninth Sulaimani Forum, held today, Wednesday, at the American University of Sulaimani, brings together more than 700 political party and faction leaders, government officials, and influential local and international leaders to discuss pressing challenges in Iraq, the region, and the world.
The ninth Sulaymaniyah Forum began at the American University with a wide political presence.
The activities of the 9th Sulaimani Forum began this morning, Wednesday 4/16/2025, at the American University in Sulaimani, and will continue for two days.
The ninth Sulaimani Forum, held today, Wednesday, at the American University of Sulaimani, brings together more than 700 political party and faction leaders, government officials, and influential local and international leaders to discuss pressing challenges in Iraq, the region, and the world.
The two-day forum will be attended by the President of the Patriotic Union of Kurdistan, Pavel Jalal Talabani, the Prime Minister of the Federal Republic of Iraq, Mohammed Shia al-Sudani, the President of the Kurdistan Region, Nechirvan Barzani, the Prime Minister of the Kurdistan Region, Masrour Barzani, the Deputy Prime Minister of the Kurdistan Region, Qubad Talabani, and several leaders of political parties and representatives of foreign and European countries.
The forum will discuss the situation in the Kurdistan Region, Iraq, and the region, as well as the many challenges and crises facing them and ways to find solutions.
Economist: Financial debts have caused a liquidity crisis in government banks and the pension fund.
Nouri told Al Furat News Agency, "There is a liquidity crisis plaguing government banks and the pension fund, as a result of the Ministry of Finance's mounting internal debts to cover the budget deficit for several consecutive years."
He added that "this crisis has directly impacted these institutions' ability to meet their obligations," while noting that he "does not have precise figures that can confirm or deny the statements made by several MPs on this matter, due to the Ministry of Finance's directive not to provide government banks with any financial information."
In recent years, the Iraqi Ministry of Finance has relied on a policy of domestic borrowing to cover recurring deficits in the public budget, by borrowing from government banks and the employees' pension fund.
This approach, although a temporary measure to address operating expenses, has led to the accumulation of massive debts for the Ministry of Finance, directly impacting the liquidity of lending financial institutions.
Parliamentary Finance Committee: Kurdistan's salary crisis "almost resolved" and Iraq's financial situation acceptable
Narmin Marouf, a member of the Iraqi Parliament's Finance Committee, confirmed on Wednesday that most of the problems related to the salaries of Kurdistan Region employees have been resolved, noting that the financial situation in Iraq is currently acceptable.
"The salary crisis is no longer political, but rather relates to some technical aspects that the regional and federal governments are working to address jointly," Marouf said at a press conference attended by a number of media outlets, including Shafaq News Agency.
She added that "the payrolls for the region's employees that were sent to the federal government for the months of February and March will be approved in the coming period to distribute the remaining salaries for the current year," stressing that "there is a clear understanding between the two sides to overcome the remaining issues."
Regarding employee salaries across Iraq, Marouf noted that "the decline in oil prices and economic problems do not affect the disbursement mechanism, as the financial situation so far is considered acceptable and does not pose a direct threat to salaries."
She explained that "the Federal Court's decision is clear on this matter, stipulating that Kurdistan Region employees be treated on a par with Iraqi government employees, in terms of bank settlement and ensuring regular salary disbursements." She stressed "the need for the federal government to commit to implementing the decision in a way that achieves job justice throughout Iraq."
Speaking to Shafaq News Agency early this month, a number of economic experts predicted that Iraq would face a major problem distributing employee salaries due to the decline in global oil prices. This coincides with another crisis sparked by US President Donald Trump's decision to impose broad customs duties on goods imported from countries around the world, including Iraq.
From arms to prosperity: A European report indicates that Iraq is becoming a tourist destination.
The Swiss newspaper "Neue Zürcher Zeitung" (NZZ) published a report on Wednesday on the improvement of tourism in Iraq, confirming that the country has regained its health and transformed into a center of prosperity after being rife with chaos and scenes of violence and weapons .
“Iraq has put its modern history behind it and is beginning to welcome tourists after it was once seen as hell on earth,” the newspaper reported, translated by Shafaq News Agency. “But the country has regained stability, and the government is working hard to attract visitors,” it said. “Cities like Baghdad and Basra are witnessing remarkable changes, including the renovation of streets and historical sites. Religious sites, especially the shrines in Karbala, attract millions of pilgrims, and the government is seeking to capitalize on their economic and tourism value .”
The report added, "This oil-rich country was widely seen as hell on earth, a place where fanatical militias fought, car bombs exploded daily, and foreign Islamist militants were dressed in orange jumpsuits before being beheaded on camera. Now, all that is changing. After years of utter chaos, Baghdad today enjoys a sense of stability ."
"As a result, the government of Iraq, which was once in chaos, has ambitious plans to turn it into a tourist destination with promising potential," he noted, explaining that "Mesopotamia is, after all, the cradle of civilization, where agriculture originated and where the Sumerians, Babylonians, and Arabs established great empires ."
He stated that "Iraq has more than 12,000 heritage sites listed on the UNESCO list, including the ruins of Babylon and Ur, and what is believed to be the remains of the Hanging Gardens of Babylon, one of the Seven Wonders of the World. Iraqis are famous for their hospitality, and Baghdad was recently chosen as the Arab Tourism Capital for 2025, and the government has launched an electronic visa ."
Baghdad "A Great Adventure "
The report quotes Ahmed Qutaiba, a Baghdadi, who opens his fiery red Dodge Charger, reminiscent of the Fast and Furious movie series, to ferry tourists around Baghdad. He used to work for Oxfam, but now visitors can book him as a tour guide for $250 a day. “I support myself financially,” he says. “I recently had a tour group from Romania, so I had to rent a bus for them .”
He adds, "Baghdad has been through harsh times, with Shiite and Sunni extremists fighting each other and committing massacres against civilians. But after the city repelled an ISIS attack in 2015, things changed. Today, Baghdad is witnessing renewed construction activity, with cranes raising new skyscrapers and highways being built everywhere ."
In the old city center, the government has renovated the famous Mutanabbi Street, where books have been sold for centuries. In the 1960s, Baghdad was one of the cultural capitals of the Middle East. Few traces of this era remain, after the bloodshed in recent years drove many to flee the country. However, intellectuals still reside on Mutanabbi Street .
Karbala is a destination for visitors
The report stated that, "In Karbala, the shrines of Imam Hussein and Imam Abbas are located about an hour and a half by car from Baghdad. Its massive mosques with their crystal chandeliers are among the most important shrines for Shia Muslims, with pilgrims flocking from far and wide to Karbala or neighboring Najaf, where Imam Ali is buried. These shrines in central Iraq are among the most visited places in the world ."
He pointed out that "about twenty million visitors visit this place annually, during the month," noting that "inside the shrine, it is common to see men bursting into tears, or simply sitting on the ground staring into nothingness in astonishment ."
"Outside, things seem simpler. In the streets leading to the holy shrines with their golden domes, vendors sell almost everything, from religious items to clothes and mobile phones, " he said.
The report quotes Najm, the head of security at one of the shrines in Karbala, as saying, "The establishments surrounding the shrines have long since become huge commercial enterprises. The state is also investing in Karbala, building hotels and restaurants ."
Iraq is a secular state
Iraq was once considered a secular state, with former President Saddam Hussein designating Johnnie Walker whiskey as the national drink. But since his fall, social life has become more restricted, not just in Karbala. The government cracked down on alcohol sales and closed most bars in Baghdad. Since then, Iraqis drink alcohol at home, travel to Kurdish areas of the Kurdistan Region, or visit one of the few hotel bars still open in the capital .
He explained that "at the 'Happy Times' bar at the Palestine Hotel, women in elaborate makeup serve small glasses filled with schnapps, while men with mustaches resembling Saddam's throw wads of counterfeit money into the air ."
“For a long time, this was almost impossible in Iraq,” he explained. “During the dark years of civil war and the ISIS invasion, many Iraqis holed up in their homes, and every step outside was life-threatening. But now, with some stability in the country, people are going out more, as if to make up for lost time. As a result, Baghdad’s restaurants are full, and people are still wandering the streets until late at night .”
Basra is renewed
In Basra, the newspaper quoted Badr, a train manager for 32 years, as saying, "We've been working almost constantly, even during the war. The train is a symbol of the Iraqis' will to resist, and now we hope to welcome visitors from abroad ."
“In Basra, the desire for normalcy is clearly evident. The city, which until recently was considered deserted, is now being revitalized,” the report said. “On the Shatt al-Arab corniche, where the Tigris and Euphrates rivers flow into the Persian Gulf, families stroll along newly paved streets. In the old town, UNESCO has restored some old houses, and there is now a small history museum and a five-star hotel where a Belgian tourist group is staying .”
He stressed that "Basra suffers from air pollution and high temperatures, and climate change threatens the nearby marshes, which are vast swamps teeming with water buffalo and endless reed forests ."
Government banking reforms and their role in bypassing sanctions... A banking researcher explains
The Iraqi government, in cooperation with the Central Bank of Iraq, has prepared a plan of (3) main objectives in cooperation with an American consulting company, (Olver & Amin), to reform and modernize the banking sector, with the aim of enhancing the protection of depositors and creditors and improving confidence in the sector, after difficulties related to the transfer of funds and American restrictions.
After the sanctions, the term “messaging accounts” emerged.
Mustafa Hantoush, an expert in financial and banking affairs, confirms that private banks have faced major problems, most notably US sanctions, which necessitated a detailed study to change the situation affecting these banks.
Speaking to the Iraq Observer, Hantoush said, “Regarding the private banking sector, which has faced problems over the past three years related to US sanctions, the term ‘correspondent accounts’ emerged as Iraqi banks faced operational disruptions, and the state attempted to address the situation in collaboration with an American consulting firm called Oliver & Amin.”
He added, "The American firm Oliver & Amin conducted studies on sanctioned Iraqi banks over a five-month period and submitted a three-point report, the first of which is that companies with real capital can develop themselves and circumvent sanctions by opening future accounts with JPMorgan."
He continued, "While there are private banks that lack the necessary capabilities, they are merging with international banks, which is a step available to them." He added, "Regarding the third point, which concerns banks facing liquidity problems, they may face collapse and exit the sector."
He pointed out that “the steps to amend (government banks) have begun to accelerate towards the step of establishing Rafidain and Rashid Banks, but the special nature of these banks remains that they have large international obligations, including those related to debts during the Iran-Iraq war. However, at the same time, a huge bank will be formed through these banks, stronger than the TBI, and it will be the hand of the new state to enter into banking operations.”
The person in charge of financial and banking affairs stated that "the government established the First Rafidain Bank, which contributes 24% to the state and 76% to the private sector."
Prime Minister Mohammed Shia al-Sudani had previously sponsored the Iraqi Banking Sector Reform Conference, emphasizing that the government assumed responsibility amid a complex economic climate that required measures to achieve stability and ensure growth. He pointed to the achievements made in the financial, banking, and economic sectors, which represented positive steps toward establishing a solid foundation for development and investing in stability.
An electronic service for disbursing minors' benefits through the Ur portal.
he Ministry of Justice announced today, Wednesday, the launch of a new electronic service for disbursing funds and processing balances for minors within the Department of Juvenile Care/Rusafa, via the government's "Aur" electronic platform.
The ministry stated in a statement received by Kalimat Al-Akhbari that "the service enables the implementation of a set of financial procedures related to minors' accounts, including disbursing funds to beneficiaries who have reached the age of majority, disbursing the dues of adult heirs, in addition to services for transferring, depositing, or seizing balances, and invalidating checks associated with these balances when necessary."
She noted that "the service has now been activated in Baghdad Governorate (Rusafa minors), where citizens can submit their applications electronically via the Ur portal, with notification of the status of their application via text messages (SMS), providing an accurate and easy follow-up mechanism."
The ministry confirmed that "work is underway to gradually expand this service to include the remaining governorates, as part of its plans for digital transformation and simplifying procedures for citizens.
The President of the Republic visits Al-Maliki in his office and discusses with him developments in the political scene.
"Communication between the forces must be strengthened.
President Abdul Latif Rashid visited the office of State of Law Coalition leader Nouri al-Maliki on Wednesday, where they discussed developments in the country's political and security landscape.
The head of the State of Law Coalition, Mr. Nouri al-Maliki, received in his office today the President of the Republic, Mr. Abdul Latif Jamal Rashid.
At the beginning of the meeting, the President of the Republic congratulated the head of the State of Law Coalition on the success of the 19th conference of the Islamic Dawa and Renewal Party, and his re-election as Secretary-General of the party. He expressed his wishes for further progress, success, and an effective and influential role in the process of construction and defense of the gains of the Iraqi people.
The two sides reviewed developments in the country's political and security landscape, stressing the importance of strengthening communication mechanisms between national forces and state institutions to address issues that serve citizens' interests, particularly in the security, political, and economic spheres.
Al-Sudani and Barzani affirm the continuation of coordination and cooperation between the center and the region.
Prime Minister Mohammed Shia al-Sudani discussed, today, Wednesday (April 16, 2025), with the President of the Kurdistan Region of Iraq, Nechirvan Barzani, the political situation in the country and the common files between the federal government and the regional government.
Al-Sudani's media office stated in a statement received by Baghdad Today that "the latter met with the President of the Kurdistan Region of Iraq, Nechirvan Barzani, where they reviewed the general situation and the most important development and economic issues at the national level."
He added, "The meeting discussed the political situation in the country, discussed common issues, and emphasized the continuation of coordination and cooperation between the federal government and the Kurdistan Regional Government in a way that strengthens national unity and serves Iraq's supreme interests. It also emphasized the importance of guaranteeing the constitutional rights of all components and enhancing cooperation between all national forces to preserve the country's security and stability, and support the federal government's efforts to implement its development projects throughout Iraq."
The statement continued, "The meeting discussed regional and international developments and their repercussions on Iraq, stressing the need to keep Iraq away from conflicts and supporting initiatives that pursue peaceful solutions and dialogue to resolve regional crises."
Informed sources: US-Iran talks scheduled for Saturday moved to Rome hmmmm again?
Informed sources revealed on Wednesday that an agreement has been reached to move the US-Iran talks scheduled for Saturday to Rome.
Sources reported that the Italian Foreign Ministry informed its European partners and the Gulf states of Rome's continued readiness to provide any kind of support to the mediation process between Tehran and Washington.
Following the first round of talks held in Muscat, Iran announced that upcoming talks with the United States would remain "indirect," mediated by Oman, and would focus exclusively on the nuclear issue and the lifting of sanctions.
S&P: Gulf banks are well-positioned to handle trade tensions
Standard & Poor's Global Ratings said that banks in the Gulf Cooperation Council (GCC) countries are well-positioned to handle the repercussions of escalating trade tensions.
"GCC banks appear to be well-positioned to confront these threats," it said in a report released Wednesday.
She added that market volatility and investor risk aversion are the most imminent threats, but banks appear capable of handling the pressure.
Standard & Poor's also warned of a significant decline in oil prices, which could impact government spending and economic sentiment, leading to an increase in non-performing loans. It emphasized that this scenario would likely impact banks' profitability rather than their solvency.
On April 2, US President Donald Trump imposed a 10 percent tariff on goods from all countries, and higher tariffs on countries the administration says impose high tariffs on US imports. However, Trump later suspended most of these tariffs for 90 days, with the exception of China.
Fitch Ratings predicted on Tuesday that US tariffs would have limited direct impacts on the operations of banks in the Gulf Cooperation Council (GCC) countries, noting that oil prices remain the most significant factor influencing the performance of the region's banking sector.
The two agencies explained that the majority of Gulf countries' exports to the United States are concentrated in oil and gas, which are exempt from customs duties, limiting the direct impact of these duties on the region's economies and the banks operating there.
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Saleh: Things between Baghdad and Erbil are moving toward a breakthrough, and everyone is talking about a solution.
Former Iraqi President Barham Salih affirmed on Wednesday that the relationship between Baghdad and Erbil remains below the desired level, but that the steps currently underway give cause for optimism about the possibility of reaching serious solutions.
"The situation is heading toward a thaw, in light of the ongoing meetings and discussions between the federal government and the regional government, in the presence of the federal prime minister, his counterpart in the region, and the oil minister," Saleh said during a press conference attended by Shafaq News Agency.
He pointed out that "what is reassuring is that everyone is speaking the language of resolution, and that there is consensus on the need to overcome outstanding differences," noting that "resorting to the constitution must be the first and final authority in resolving outstanding issues, with the interests of citizens being placed above all other considerations."
Regarding the legislative elections, Saleh explained that "the decision to hold the elections was approved and announced by the Prime Minister, who affirmed the government's commitment to holding them on the scheduled date." He considered this step necessary to consolidate political stability in the country.
Regarding the Kurds' position in light of regional and international changes, he highlighted "the importance of unifying Kurdish ranks and seriously addressing the major transformations taking place in the region and the world, ensuring the preservation of Kurdish rights and gains within the national framework."
Iraq's relationship with the US was at its peak, and Al-Sudani practiced "good diplomacy"... Hussein Allawi.
Hussein Allawi, the Prime Minister's political advisor, asserted that Iraq's relations with the United States are at their strongest, and that the current government is using benevolent diplomacy to encourage Iran and the United States to reach an agreement that will ensure the region's transition to stability after 40 years of war. He noted the Sudanese government's efforts to secure Arab resolutions at the upcoming Baghdad summit aimed at enhancing energy security, inter-regional trade, and economic development.
Hussein Allawi, in an interview with Al Arabiya Al Hadath:
Iraq seeks to restore a moment of stability. The region has been experiencing significant turmoil since October 7, 2017, and this requires extensive negotiations, including the negotiation process between Iran and the United States. This process aligns with Iraq's interests in foreign relations, economic development, bilateral trade, and energy security, as the region includes major oil and gas producers such as Saudi Arabia, Iraq, and Iran.
Stability strengthens relations between the countries of the region, as happened between Iran and Saudi Arabia after their agreement. We seek to strengthen this stability through the outcomes of the upcoming Arab Summit in Baghdad, as the Prime Minister spoke today, and his efforts to issue Arab resolutions that lead to prosperity in the region.
Iraq maintains good relations with the Islamic Republic and the United States, and seeks to practice good diplomacy and encourage the conclusion of an agreement. This is something all countries in the region are encouraging, as it will bring stability and transition them to a phase of prosperity after four decades of war.
Iraq's relations with the United States are at their peak politically, militarily, and culturally, particularly in the areas of education and other fields, as well as technological exchange and American investments in the Iraqi energy sector and other areas. However, we have reached an understanding with Washington to end the mission of the international coalition established in 2014 to confront ISIS and to transform our relations with them to the bilateral relations they were before the fall of Mosul. Our relations are based on politics, economics, and security as a normal relationship.
The Lebanese president's approach to the Popular Mobilization Forces (PMF) was met with astonishment by the Iraqi government, and the Ministry of Foreign Affairs expressed this by summoning the Lebanese ambassador. There are demands to reconsider these statements. The PMF has been a constitutional institution since 2016 and has participated in the fight against the terrorist organization ISIS since 2014. The draft law on the PMF before Parliament falls within the framework of security sector reform, which the prime minister has been working on for the past two years, whether in the intelligence services, the National Security Agency, or the PMF.
Kurdish government delegation will visit Baghdad next Saturday to complete negotiations to resume the region's oil exports.
Iraqi Oil Minister Hayan Abdul Ghani announced that a delegation from the Kurdistan Region's Ministry of Natural Resources will visit Baghdad on Saturday as part of a new round of negotiations aimed at reaching an agreement on resuming the region's oil exports through SOMO.
During a session on Iraq's energy sector at the 9th Sulaymaniyah Forum, Abdul Ghani affirmed that "numerous negotiations took place with the Ministry of Natural Resources in the Kurdistan Region, with the goal of resuming oil exports ."
The minister saw "an urgent need to resume the export of Kurdistan's oil, both to boost the Iraqi state's resources and to support the general budgets of the federal government and the regional government ."
He pointed out that "286,000-300,000 barrels per day of Kurdistan Region production are considered Iraqi oil, which prompted us to reduce production, which was reflected in exports, which decreased from 3,450,000 barrels to 3,300,000 ."
Abdul Ghani noted that "Iraq's OPEC quota does not match its actual production capacity, which currently exceeds 5 million barrels per day, excluding the Kurdistan Region's production," stressing that "Iraq has adhered to its production rate out of concern for OPEC unity and the stability of the oil market ."
While stressing Iraq's commitment to "the unity of OPEC countries," he reminded that Iraq has many rights. He said that it has gone through difficult circumstances during which it was unable to develop its oil fields and increase production. Therefore, it has the right to increase its share, and we will not withdraw from OPEC. However, we must convince its countries to increase Iraq's share.
He stressed the ministry's commitment to "implementing the budget law and receiving and exporting Kurdistan Region oil through SOMO," noting that SOMO "previously signed contracts with four companies authorized to purchase the region's oil, and these contracts were renewed so that we are ready at any moment to export through the Iraq-Turkey pipeline ."
In response to a question about the role of American companies in the Iraqi energy sector, the Oil Minister noted that "the first companies to operate in the oil fields were American, and they are still present, led by Halliburton, Schlumberger, and Weatherford, which have large headquarters in the Basra oil fields, particularly in Rumaila ."
"American companies have been present since the first licensing round in 2008, and among the most important companies with which contracts have been signed is Exxon Mobil ."
Regarding ExxonMobil's withdrawal, he noted that "the ministry opposed its withdrawal from the West Qurna field, but we accepted its decision because it threatened to resort to arbitration ."
Abdul Ghani revealed an intention to "attract American companies whose names have been identified, such as Exxon Mobil, Chevron, and Occidental," stressing that they will be "exclusively invited to develop certain exploration blocks, whether in southern Iraq or in the western regions ."
Al-Sudani's advisor: Kurdistan's oil costs are behind the delay insubmitting budget schedules.
The Prime Minister's financial and economic advisor, Mazhar Mohammed Salih, revealed on Wednesday the reasons for the delay in sending the 2025 budget tables to the Council of Representatives so far, stressing that the matter relates to amendments related to the costs of extracting and transporting the Kurdistan Region's oil, which required revising the calculation methods. Salih said, "The delay in sending the budget tables for the year 2025 was primarily due to the delay in amending Federal General Budget Law No. 13 of 2023 (the three-year budget), particularly the amendment of Article 12 and the issuance of the appropriate legislation in February of this year. This amendment concerns the costs of extracting and transporting the region's oil, which required revising the calculation methods."
He added, "It is no secret that the signs of an oil asset cycle towards a decline in global oil prices come after geopolitical developments in the Russian-Ukrainian war zone and the Middle East, the exclusion of oil and gas from the US trade wars, and the Organization of the Petroleum Exporting Countries (OPEC+) removing production quotas from all members." Saleh pointed out that "all these events have contributed to the stagnation of the global oil market, and are among the external factors influencing the map of revenues, expenditures, and deficits in the 2025 budget."
The Finance Committee of the Iraqi Parliament expressed its surprise the day before yesterday at the government's delay in sending the tables of the 2025 general budget law to the parliament, despite previous promises.
Committee member Saad Al-Nubi said, "The parliamentary Finance Committee recently hosted both Minister of Planning Mohammed Tamim and Minister of Finance Taif Sami to discuss the tables of the 2025 general budget law, and the two ministers informed the committee that the tables would be sent to the Council of Ministers."
He added, "However, we still notice the government's delay in not sending the budget tables to parliament for discussion and voting," considering that "there is a clear challenge by the government in not sending the tables to parliament without knowing the reasons."
Al-Nubi continued, "The budget was supposed to reach parliament before the end of last month, but we don't know the reasons for this delay." He noted that "the committee pressured the Minister of Planning and the Minister of Finance, asking them to explain the reason for the delay in submission, but has not received a response yet."
Nechirvan Barzani calls on Al-Sudani to activate the Article 140 Committee and thanks him for his efforts regarding Halabja.
Kurdistan Region President Nechirvan Barzani called on Prime Minister Mohammed Shia al-Sudani on Wednesday to activate Article 140 of the Constitution regarding the disputed areas between Erbil and Baghdad, while praising his role in establishing Halabja Governorate.
In a speech delivered at the ninth Sulaymaniyah Forum, Nechirvan Barzani said, "In the Kurdistan Region, regarding our relations with the federal government in Baghdad, we affirm our unwavering commitment to the Iraqi constitution as a framework for regulating this relationship. We believe that the constitution, with its principles of federalism, pluralism, and partnership, is the true guarantor of the rights of all components of Iraq without discrimination."
He added, "The recent period has witnessed remarkable progress in resolving the issues between Erbil and Baghdad, thanks to the commendable efforts of Prime Minister Mohammed Shia al-Sudani, which deserve our appreciation." He added, "Al-Sudani's vision of strengthening commonalities and reducing differences is the correct vision for a solution, and I emphasize here the urgent implementation of the property restitution law and the activation of the committee to implement Article 140 of the Iraqi Constitution."
Nechirvan Barzani stressed that "we will continue constructive dialogue with the federal government to reach permanent solutions to all problems in a way that serves the interests of Iraq, with all its components, and guarantees and secures the constitutional rights and entitlements of all."
He stressed that "the Kurdistan Parliament must be activated in light of the current circumstances and challenges in the region. Therefore, the primary task of the Kurdistan Democratic Party, the Patriotic Union of Kurdistan, and the winning parties in the Kurdistan Parliament elections is to expedite the formation of the new government cabinet for the Kurdistan Region, and for it to be a government that responds to the aspirations of the citizens and is capable of dealing appropriately with developments and challenges."
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