The financial adviser to the Prime Minister, Mazhar Mohamed Saleh, confirmed on Monday that the government has developed an economic approach to promote growth and reduce unemployment, while noting that the new industrial cities will be the cornerstone of the economic renaissance.
Saleh said, in a statement to the official agency, that “the Sudanese government has developed a clear economic approach to strengthen the national economy, which is to raise growth rates in non-oil GDP by at least 5%, in addition to gradually reducing unemployment rates to settle at 4% in the future.”
He explained that “achieving these two goals requires focusing on the priorities of economic development, most notably supporting manufacturing, which can absorb 60% of unemployment, contribute to diversifying sources of national income and increasing GDP rapidly.”
He pointed out that
“the government is working to achieve this through three main tracks, including supporting youth lending initiatives, which included many youth gatherings to stimulate the workforce, and the establishment of “Riyada Bank”, as a private bank with broad government support to grant loans to small and medium-sized industrial activity, as well as the formation of a sovereign guarantee committee, to finance large industries through bank loans guaranteed by the state, in cooperation with major industrial countries such as Western Europe and Japan.”
He stressed that “these efforts will focus on the development of five main industrial fields, including infrastructure industries associated with the “development road” and reconstruction projects, pharmaceutical industries, in addition to the petrochemical industries and oil derivatives,
and advanced engineering industries, in addition to the development of the oil sector and the manufacture of natural and associated gas, with the aim of zeroing its burning and benefiting from it in the electric energy sector.”
He added that “new industrial cities on the road to development will be the cornerstone of the comprehensive industrial development strategy in Iraq,” pointing out that “the industrial renaissance is based on a strategic vision based on the partnership between the state and the private sector, within the philosophy of building the social market.”
The weekly RV report for February 21, 2025, covers significant developments in various countries, highlighting political shifts, economic strategies, and financial insights. The report begins with updates from Iraq, where substantial legislative changes are anticipated, amidst political turmoil involving President Al Sudani and President Trump.
It moves on to Vietnam, detailing a positive economic outlook under President Chi and the potential for a new trade deal that could bolster the nation’s currency. Zimbabwe’s political landscape is addressed, particularly regarding the opposition leader Nelson Chamisa’s resurgence.
The report also touches on Venezuela’s political scenario under Nicolás Maduro, introducing emerging leaders like Maria Karina Machado, who poses a challenge to the current regime. Furthermore, the report discusses Ripple’s potential exoneration from SEC allegations, the soaring prices of gold and silver, and their implications for the global financial system. Overall, the report indicates a transformative period for these nations, with a strong emphasis on economic growth, political stability, and the pivotal role of precious metals in financial systems.
🌍 Iraq’s Legislative Changes: Seventeen laws are set to be passed, signaling a potential shift in governance and economic strategy.
💰 Iraq’s Budget Amendment: The budget amendment for salaries has been formally signed into law, indicating financial restructuring.
🇻🇳 Vietnam’s Economic Growth: Vietnam is projected to achieve 8% GDP growth in 2025, building on a robust 34% growth over the past 15 years.
🇿🇼 Zimbabwe’s Political Landscape: Nelson Chamisa’s claim to leadership signals a possible change in Zimbabwe’s governance and stability.
🇻🇪 Emerging Venezuelan Leadership: Maria Karina Machado emerges as a key figure against Nicolás Maduro, representing hope for political change.
💎
Ripple’s Legal Victory: Ripple is expected to be exonerated from SEC allegations, which would significantly impact its market position and integration into global financial systems.
📈 Surging Precious Metals: Gold and silver prices are at record highs, emphasizing their importance in the financial markets and potential currency revaluations.
Key Insights
📜 Iraq’s Legislative Developments: The passing of 17 laws in Iraq could represent a significant shift in governance, particularly as it relates to corruption and economic reform. The political climate is tense, with President Al Sudani facing potential removal due to his dealings with President Trump and alleged corrupt practices. This instability could lead to a more transparent and accountable government structure if successful reforms are enacted.
💵 Economic Restructuring in Iraq: The budget amendment for salaries published in the Iraq Gazette signals an important step towards economic stability and better financial management. This amendment could pave the way for increased public sector salaries, which may stimulate consumer spending and enhance overall economic activity in Iraq.
📊 Vietnam’s Strong Economic Forecast: Vietnam’s anticipated 8% GDP growth in 2025, combined with its historical growth rate, positions the country as a rising economic power. The potential new trade deal with China could further strengthen Vietnam’s economic prospects and stabilize its currency, benefiting its citizens and attracting foreign investment.
🌿 Zimbabwe’s Political Revival: Nelson Chamisa’s return to the political forefront suggests a renewed hope for Zimbabwe’s recovery from years of economic decline and political strife. His leadership could catalyze reforms and drive efforts to restore peace and prosperity, which have been elusive under the previous regime.
⚖️ Venezuela’s Political Shifts: Maria Karina Machado’s emergence as a significant political figure against Nicolás Maduro highlights the growing discontent within Venezuela. Her leadership could attract international support and galvanize efforts to restore democracy and economic stability, as her past experiences resonate with the struggles of the Venezuelan populace.
⚖️ Ripple’s Legal Dilemma: The anticipated exoneration of Ripple from SEC allegations could mark a turning point for cryptocurrencies in the financial sector. This outcome would not only bolster Ripple’s operations but also encourage broader acceptance of cryptocurrencies as legitimate financial instruments, potentially leading to increased market participation and innovation.
📈 The Surge of Precious Metals: The significant rise in gold and silver prices indicates a growing investor confidence in precious metals as safe havens amidst economic uncertainty. With gold reaching record highs and silver on the verge of surpassing its all-time high, these commodities are becoming increasingly integral to discussions around currency revaluation and the future of global finance.
Conclusion
The weekly RV report provides a comprehensive overview of crucial developments across Iraq, Vietnam, Zimbabwe, and Venezuela, indicating a period of potential transformation and economic rejuvenation.
Each country faces unique challenges and opportunities as they navigate political changes and economic reforms.
The report emphasizes the interconnectedness of global financial systems, particularly through the lens of precious metals and cryptocurrency, hinting at a future where these assets play a pivotal role in shaping economies and fostering stability.
As these narratives unfold, the implications for citizens and international stakeholders alike will be significant, necessitating close attention to ongoing developments.
The Ministry of Oil, on Monday, confirmed its full commitment to the OPEC+ agreement and the agreed additional reductions, in addition to compensating for the accumulated quantities.
In a statement received by “Economy News”, the ministry indicated that it will take all necessary measures to ensure the implementation of these agreements, including providing an updated plan to compensate for surplus production during the previous period.
The statement explained that this came in a joint phone call between Deputy Prime Minister for Energy Affairs Hayyan Abdul Ghani Abdul Zahra, Saudi Energy Minister Abdulaziz bin Salman Al Saud, and Deputy Prime Minister of the Russian Federation Alexander Novak, in addition to the Secretary-General of OPEC Haitham Al-Ghais.
According to data released by OPEC-approved secondary sources, Iraq’s crude oil production in January 2025 reached 3,999 million barrels per day, a positive indicator that reflects Iraq’s commitment to specific production levels.
The ministry stressed that it will continue its efforts to compensate for the accumulated surplus, taking into account the recent developments related to the receipt by the federal government of oil produced in the Kurdistan Region and the resumption of exports through the Iraqi-Turkish pipeline, while committing to Iraq’s share of the OPEC agreements for voluntary reduction and the required compensation quantities.
In conclusion, the Ministry of Oil stressed the pivotal role of these agreements in stabilizing global oil markets, pointing to the importance of the contribution of OPEC+ member states in supporting this stability.
IRAQ Patti-Cake games continues:
I wonder what are they waiting on to happen FIRST before resuming oil exports as they keep pushing it to “within a week”….Oh & they’re still hiding & not revealing the 2025 budget schedules
The Article below stating one country is saying Awaiting on Iraq & the other side is saying Awaiting for Turkey’s approval to resume:
Oil Minister Hayan Abdul Ghani said on Monday that oil exports from the Kurdistan region will resume within a week.
This came in response to a question about when Iraq will resume oil exports from the region, stressing that this issue will be settled within a week, adding that Iraq is WAITING FOR TURKEY’S approval to resume pumping oil and we hope that Kurdish oil exports will be ready within two days.
“while Turkiye insists the pipeline is operational, stating that the final decision on resuming flows “LIES WITH IRAQ.”
Shafaq News/ On Monday, Iraq announced the launching of a plan to establish steam power plants with a capacity of 15 megawatts.
During the Iraq Energy Conference and Exhibition, Minister of Electricity, Ziad Ali Fadhil, revealed that the new plants will rely on local fuel, stating, “We will no longer depend on foreign fuel,” according to a statement from the Ministry of Energy.
He also highlighted the country’s combined cycle projects, which do not require fuel, and the plan to generate 3,000 megawatts from renewable energy sources.
“We have high coordination with the Oil Authority to secure the necessary fuel to operate the electricity generation units,” said the Minister.
Earlier this month, the Ministry disclosed the locations for the construction of the steam plants and noted that 100 local and international companies had expressed interest in the project. The plants will be spread across central, southern, middle Euphrates, and northern regions, with three investment models set to be presented to the interested companies.
