Ministry Of Planning: The Five-Year Development Plan Will Reduce Unemployment Rates To Below 10 Percent
Buratha News Agency1762025-08-05 The Ministry of Planning revealed, on Tuesday, the most prominent quantitative, economic and social targets included in the five-year development plan for the years (2024-2028), indicating that the five-year development plan will reduce unemployment rates to less than 10 percent.
The official spokesperson for the ministry, Abdul Zahra Al-Hindawi, said: “The plan aims to achieve an annual economic growth rate of 4.24 percent,” explaining that “this rate depends on several factors, most notably oil prices, the size and composition of investments, industrial production, and international trade.”
He added that “among the plan’s primary objectives is to maintain the population growth rate at its current level of 2.5%, based on the results of the population census, in line with the requirements of developing human capital.”
He pointed out that “the plan seeks to reduce unemployment rates by no less than 10% from the current level of 13%, while maintaining stable inflation rates that do not affect the poor segments and support job creation.”
Regarding investments, he explained that “the plan aims for government investments to constitute approximately 65% of total investments during the implementation period, compared to 35% for the private sector.”
He also indicated that “poverty rates will witness a decline to less than 15% at the national level,” adding that “the plan places special attention on developing the manufacturing industries and increasing their contribution to the GDP to more than 2%, in addition to raising the contribution of the agricultural sector to 3%.
The plan also aims to reduce dependence on oil, by diversifying sources of income and achieving growth in non-oil sectors, with expectations that the contribution of the oil sector to the GDP will decline by up to 25% from its current level during the five-year plan.” https://burathanews.com/arabic/news/463705
The Bank Of Baghdad Denies Suspending Dollar Transfers
Banks Economy News – Baghdad The Bank of Baghdad denied on Monday reports circulating about a suspension of dollar transfers, stressing that the bank continues to provide its banking services as usual and regularly.
The bank clarified in a statement received by Al-Eqtisad News that all banking operations, including foreign transfers in dollars, are conducted in accordance with the controls and instructions issued by the Central Bank of Iraq and in line with standards of financial compliance, governance, and transparency.
The statement added that the Bank of Baghdad is fully committed to implementing the instructions of the Central Bank of Iraq, calling on the media and the public to exercise accuracy and refrain from circulating rumors or unreliable information. https://economy-news.net/content.php?id=58343
Kurdish Sources: Erbil Refuses To Hand Over Non-Oil Revenues And Prevents Baghdad Committees From Auditing.
5 Aug Information/Baghdad.. Informed Kurdish sources revealed on Tuesday that the implementation of the financial agreement between the federal government and the Kurdistan Regional Government (KRG) continues to stall due to the latter’s refusal to hand over non-oil revenues to Baghdad.
Sources told Al-Maalouma News Agency that “the regional government is not prepared to hand over
oil and non-oil revenues to the federal government, contrary to the agreement signed between the two parties,” noting that “the Kurdistan Regional Government has refused to allow the relevant federal government committees to review local non-oil revenues.”
She added, “The region expressed its willingness to hand over 120 billion dinars of local revenues for this month alone, but refused to commit to transferring the amount for future months, claiming the sum was too large.” The sources confirmed that
“the regional government delegation that recently visited Baghdadofficially informed the federal government delegation that it was not allowed to audit non-oil revenues,” explaining that
“the government delegation submitted a detailed report to Prime Minister Mohammed Shia al-Sudani,
which included the obstacles hindering the implementation of the agreement with the region.”
https://almaalomah.me/news/106549/economy/مصادر-كردية:-أربيل-ترفض-تسليم-الإيرادات-غير-النفطية-وتمنع-لج
Al-Marsoumi Reveals The Secret: Why Is Iraq Sending Its Gas To Iran? “100 Million Cubic Feet Per Day”
Economy 2025-08-05 | Source: Alsumaria News 4,633 views Alsumaria News – Economic expert Nabil Al-Marsoumi revealed details of a new agreement between Iraq and Iran, which stipulates the transfer of associated gas from oil wells in Maysan to Iranian territory for processing and re-use as fuel for power plants. Al-Marsoumi explained that
100 million cubic feet per day from Maysan to Iran
the agreement stipulates the transfer of 100 million cubic feet of associated gas per day from wells oil in Maysan province to Iran.
Tehran will process this gas and return it to Iraq to be used to operate power plants. Al-Marsoumi pointed out that
Challenges of associated gas flaring in both countries
this agreement comes amid significant challenges facing both countries in dealing with associated gas.
Despite possessing vast reserves of free natural gas, Iran ranks second globally after Russia in flaring associated natural gas, flaring 20.4 billion cubic meters in 2023.
Al-Marsoumi attributed this problem to a lack of investment in natural gas infrastructure and Iran’s failure to develop and install essential equipment to collect associated gas from oil fields over the past two decades.
https://www.alsumaria.tv/news/economy/536019/المرسومي-يكشف-السر-لماذا-يرسل-العراق-غازه-لإيران؟-100-مليون-قدم-مكعب-ي
Iraqi Oil In The Grip Of The “Dragon”… An Expert Explains The Motives For Baghdad’s Openness To China
Time: 2025/08/05 Reads: 870 Times {Economic: Al-Furat News} Oil expert Hamza al-Jawahiri revealed that Iraq’s preference for Chinese companies to invest in its oil sector is due to”their conditions being less stringent than those of other international companiesand offering better conditions.”
Al-Jawahiri said in a statement to {Al-Furat News}: “This preference is not limited to one company, but extends to dozens of companies, all working to invest in the country.”
He explained that “the technology used in the extractive industry is no longer the monopoly of former international companies,” emphasizing that’ “most countries are now capable of developing their oil and extractive industries,including national ones.” Al-Jawahiri considered that
“these factors are what pushed China to invest in Iraq,” noting that “there are other companies working to invest outside of Iraq and can achieve greater profits with the same effort expended in Iraq.”
Attention has recently turned to the increasing activity of independent Chinese oil companies in Iraq,
where their investments have doubled to billions of dollars in a country that is
the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC).
This is despite the reduction of major international companies’ presence in
the Iraqi market, which is now dominated by major state-owned Chinese companies.
In contrast, executives of smaller Chinese companies believe that the investment climate in Iraq has witnessed a significant improvement,due to relative political stability and the Iraqi government’s keenness to attract both Chinese and Western investment. https://alforatnews.iq/news/النفط-العراقي-في-قبضة-التنين-خبير-يوضح-دوافع-انفتاح-بغداد-على-الصين
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