Finance Ministry about to finish 2023 federal budget

Baghdad (IraqiNews.com) – The Minister of Finance, Taif Sami, announced on Monday that the ministry is about to finish 2023 federal budget, indicating that issue of the high exchange rate of the U.S. dollar was redressed by the will of the government and the people.

Sami, in her speech at the Seventh Annual Arab Fiscal Forum held in the UAE, mentioned that the government sought to pass the Food Security Law, in the amount of 25 trillion dinars (17.22 billion USD), in order to limit poverty, achieve financial stability and continue providing services to citizens.

“The Iraqi economy suffers from chronic structural problems, and its recovery depends on oil prices in the global market, which puts the government and its economic and financial institutions on alert to overcome challenges and crises,” Sami said.

“The Iraqi government, headed by Prime Minister Mohammed Shia Al-Sudani, adopted an ambitious program on the economic and financial levels, and over a period of several months, its positive impact appeared on the life of the Iraqis and on the Iraqi institutions,” Sami explained.

“We are about to finish working on the federal budget for 2023. We will move towards comprehensive economic reforms in Iraq and develop a clear strategy to diversify its economy, raise its revenues and push development forward,” Sami stated.

Sami indicated that the Iraqi government appreciates the tireless efforts and the keenness to enhance economic cooperation between Arab countries, and the coordination with partners to serve the economies and investments of those countries.

Sami added that the international relations are based on balance and broadening the base of interests to serve the goals of economic and financial development in the Arab countries.