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Al-Sudani's advisor rebukes citizens for storing money at home and calls for investing it
2/6/2025
Baghdad -
Mohammed Sahib Al-Daraji, the technical advisor to the Prime Minister, confirmed today, Thursday, that the volume of investments in Iraq amounts to about 60 billion dollars, while he pointed out that there is a large cash mass among citizens outside the banking system, which makes it economically useless if it remains stored in homes, calling for it to be converted into investment projects that contribute to transforming it into assets that support the national economy.
Al-Daraji said in a statement to the official agency, followed by the 964 network , that “Iraq’s gross domestic product exceeded $260 billion, which makes the ratio of external debt compared to the domestic product at a very low level, which opens the door to a new phase of external financing, but with studied conditions,” noting that “Iraq’s external public debt witnessed a significant decrease, as it fell from $20.9 billion to $9.8 billion.”
He stressed, “The importance of funding being directed towards productive projects capable of paying off their debts on their own, rather than focusing on consumer or ill-considered projects.”
Regarding current investments, Al-Daraji pointed out that “the volume of local and foreign investments in Iraq amounts to about 60 billion dollars, most of which are in the real estate and housing sector, which is a good thing,” stressing “the necessity of strengthening the role of the Iraqi investor and supporting him to diversify investments.”
He pointed out that “there is a large cash mass held by citizens outside the banking system, which makes it economically useless if it remains stored in homes,” calling for “transferring this money to investment projects that contribute to transforming it into assets that support the national economy and enhance sustainable development.”
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