⚡ “Sudani Pushes Forward: Iraq Accelerates Economic & Financial Reform Plans” 🚀
Prime Minister Mohammed Shia Al-Sudani reaffirmed on Sunday Iraq’s commitment to pressing ahead with major economic and financial reform plans. 🇮🇶✨
🛠️ Key Points from the Meeting:
🧭 Sudani chaired a high-level session focused on financial dues related to electricity and oil projects, attended by the Ministers of Finance, Oil, Electricity, and top advisors.
💰 Discussions centered on boosting public treasury revenues by increasing Iraq’s export capacity of petroleum products such as diesel, naphtha, black oil, and condensates — made possible after achieving self-sufficiency.
🔄 The team also reviewed mechanisms for revenue flow and emphasized restricting oil product exports exclusively through SOMO to tighten control and maximize benefit.
⚡ Sudani directed the Ministry of Electricity to evaluate new economic models for investment projects as part of broader sectoral development.
🛢️ He stressed the importance of reforms that maximize the value of Iraq’s oil wealth, including increasing the nation’s crude oil refining capacity to produce higher-quality, higher-value derivatives.
🔥 Bottom Line: Iraq is intensifying efforts to modernize its economic framework, optimize oil revenues, and push forward long-awaited structural reforms.
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The Prime Minister emphasizes the need to proceed with economic and financial reform plans.
Prime Minister Mohammed Shia al-Sudani stressed on Sunday the need to proceed with economic and financial reform plans, directing the Ministry of Electricity to study economic models for investment projects.
The Prime Minister’s Media Office said in a statement received by the Iraqi News Agency (INA) that “Prime Minister Mohammed Shia Al-Sudani chaired a meeting today, Sunday, dedicated to following up on the financial dues for energy projects (electricity and oil), in the presence of the Minister of Finance, the Ministers of Oil and Electricity, and a number of advisors and executive officials in the ministries.”
The statement added, "During the meeting, ways to maximize public treasury revenues were discussed by increasing export capacity of petroleum products (diesel, naphtha, black oil, condensates) and other products after achieving self-sufficiency."
He continued, "The meeting witnessed a discussion on setting a mechanism for the flow of revenues, and restricting the export of oil products through the State Oil Marketing Company (SOMO)," adding that "with regard to the electricity sector, Al-Sudani directed the Ministry of Electricity to study the economic models for investment projects."
The Prime Minister stressed – according to the statement – the need to proceed with economic and financial reform plans, especially with regard to benefiting from oil wealth, and raising the percentage of crude oil refining in accordance with the targeted plans to produce more high-quality and valuable oil derivatives. link