Iraq has unveiled a new economic stimulus package worth approximately IQD 3.5 trillion ($2.7 billion), aimed at supporting housing, industry, agriculture, contractors, and long-term national savings.
The measures were approved during a meeting chaired by Prime Minister Ali al-Zaidi, attended by the Minister of Finance, the Governor of the Central Bank of Iraq (CBI), senior government advisers, and representatives of public and private banks.
Under the package, IQD 1 trillion ($763 million) from existing Central Bank initiatives will be redirected to support the real estate and housing sector. The government also approved at least IQD 1 trillion ($763 million) in additional liquidity for the Trade Bank of Iraq and the Industrial Bank to finance industrial projects and productive economic activities.
To address outstanding obligations, the Ministry of Finance will allocate IQD 500 billion ($382 million) to settle unpaid dues owed to contractors. Another IQD 500 billion ($382 million) will be provided to pay farmers and support the agricultural sector.
The government also approved an additional IQD 500 billion ($382 million) for the Generations Fund, increasing its total balance to IQD 1.5 trillion ($1.1 billion).
Prime Minister Al-Zaidi stressed the importance of implementing the decisions quickly and called for close coordination between the Ministry of Finance, the Central Bank, and relevant banking institutions. The Central Bank reaffirmed its commitment to supporting financial stability and providing the monetary and financing conditions needed to stimulate economic activity and growth.
