Iraq Finance Minister Pledges Ongoing Economic and Financial Reforms

Commitment to Ongoing Reforms

According to IraqiNews.com reporting from Baghdad, Iraqi Finance Minister Faleh Sari on Wednesday restated the country’s dedication to pressing ahead with economic and financial reforms, broadening revenue streams and giving the private sector a stronger role.

He said these steps are intended to reinforce economic stability and improve Iraq’s ability to face regional challenges.

Key Measures and Iraq Vision 2050

The minister made the comments while speaking at the yearly gatherings of the International Monetary Fund and the World Bank Group, which were convened in Bangkok, Thailand, as noted in a statement from the Finance Ministry.

Sari pointed out that the authorities are responding to the economic fallout from the Strait of Hormuz crisis by reshuffling spending priorities, raising non‑oil income, safeguarding essential state functions and pressing forward with structural reforms.

He stressed that meeting the present difficulties calls for a shift toward a more varied and sustainable economy.

Quoting the minister, he described “Iraq Vision 2050” as a strategic framework aimed at cutting reliance on oil, widening the productive base, empowering private enterprises and delivering inclusive, long‑term economic growth.

The reform agenda, he added, covers upgrading public financial management, automating customs and tax procedures, improving the climate for business and investment, modernising the banking sector and expanding electronic payment systems.

Partnership with International Financial Institutions

Sari noted that cooperation with the IMF and the World Bank Group underpins the economic and financial reform programme.

He highlighted the benefit of drawing on the technical and institutional know‑how supplied by those organisations to fortify the durability of public finances and to ease the execution of Iraq’s development priorities.