Iraq's new budget sparks economic Optimism, eying sustainable development by 2025

Shafaq News/ The implementation of Iraq's new budget law is poised to usher in a robust economic resurgence, marking a significant shift towards investment-focused growth and sustainable development, Mudhar Mohammad Saleh, the Prime Minister's Financial and Economic Advisor said on Tuesday.

"The most immediate positive consequence of this law's enactment is the initiation of expenditure on the nation's investment projects," he told Shafaq News Agency, "This proactivity serves as a linchpin for the revitalization and stabilization of the business and employment markets, imbuing a sense of optimism for building positive economic prospects aligned with the trajectory of national development set to extend through the end of 2025."

Saleh highlighted the triennial budget's emphasis on mid-term financial planning to invigorate the nation's economy, especially the investment sector.

"This would empower the Iraq Development Fund to operate more efficaciously, aligning with the Sustainable Development Goals, and fostering a synergistic collaboration with the private sector and the employment market."

"The promulgation of the budget law stands as a harbinger of substantial positive ramifications for the overarching economic conditions in Iraq in the forthcoming phase."