Al-Sudani confirms the provision of everything necessary to expand the investment environment in Iraq.
Prime Minister Mohammed Shia al-Sudani sponsored the signing of a memorandum of understanding on Sunday to develop part of the Al-Rufayl Economic City in Baghdad, affirming the state’s support for investment projects and providing everything necessary to expand the investment environment in Iraq .
Al-Sudani’s office stated in a statement received by “Mil” that “Prime Minister Mohammed Shia Al-Sudani sponsored, today, Sunday, the signing ceremony of a memorandum of understanding between the Investment Authority and Talaat Moustafa Holding Company for Real Estate Development, regarding an Iraqi-Egyptian-Saudi investment project to develop part of the economic city of Al-Rifai, west of Baghdad, and to invest in promising opportunities in its various sectors, in the presence of the Chairman of the Investment Authority and Chairman of the Saudi Al-Muhaidib Group, Suleiman bin Abdul Qader .”
The statement indicated that “the ceremony witnessed a review of the designs of the integrated cities implemented by the group, and a detailed explanation of the economic city, its spaces and planning, services, schools, hotels, and other service facilities .”
According to the statement, Al-Sudani stressed “the state’s support for investment projects and the provision of everything that would expand the investment environment in Iraq and provide the necessary facilities,” pointing to “the acceleration of development plans and the vital development projects they include .”
The Central Bank launches the first national strategy for financial inclusion.
The Central Bank announced today, Sunday, the launch of the first national strategy for financial inclusion.
The Central Bank said in a statement received by Alsumaria News “The first National Financial Inclusion Strategy for the period 2025-2029 was launched today.”
She added, “The strategy includes an integrated framework for financial inclusion, aiming to enable all individuals and companies to access the financial sector and use appropriate and safe financial services while protecting their rights, thus contributing to economic and social development.”
The bank’s governor emphasized Ali Mohsen Al-Alaq In his speech, he said, “The Central Bank pays great attention to enhancing financial inclusion in Iraq In addition to cooperation at the regional, Arab and international levels,” he stated, “the bank worked with international partners to develop a financial inclusion strategy in accordance with international best practices, in partnership with the group. ”World Bank The Arab Monetary Fund, the Global Financial Inclusion Alliance, and the German Development Cooperation Agency (GIZ), as well as local partners from public and private bodies and agencies,
are working to achieve a number of goals, including increasing the percentage of bank accounts, enhancing consumer protection in the financial sector, utilizing the latest electronic payment methods, and developing infrastructure and regulations to promote financial inclusion.
By 2025, the Iraqi citizen’s share of GDP will exceed $5,000.
Iraq ranked ninth in the Arab world in terms of per capita GDP in 2025, according to the Country Cassette website, which collects international data and statistics.
The website stated, in a report reviewed by Shafaq News Agency, that “per capita GDP, which measures the economic output of a country’s individual, is a key indicator of wealth distribution and quality of life.”
He added that “wealthy countries such as Luxembourg, Switzerland, and Ireland top the list, demonstrating the strength of their advanced economies and the efficiency of their systems,” noting that “Iraq ranked ninth in the Arab world in terms of per capita GDP, reaching $5,668.”
The website noted that “Qatar ranked first in the Arab world in terms of per capita GDP, with per capita GDP reaching $71,653, followed by the UAE in second place with $51,294, Saudi Arabia in third place with $30,099, Kuwait in fourth place with $29,951, Bahrain in fifth place with $28,857, Oman in sixth place with $20,546, Libya in seventh place with $6,801, and Algeria in eighth place with $5,691.”
This indicator describes the GDP per capita at current prices. Thus, the GDP was first converted from the national currency to the US dollar at current exchange rates and then divided by the total population.
Gross domestic product (GDP) is a measure of a country’s productivity and indicates the total value of goods and services produced during a specific period of time.
Iraqi Oil: Gas investment has reached 70% and will increase next year.
An advisor to the Iraqi Ministry of Oil, confirmed on Sunday that Iraq is investing approximately 70% of its associated gas, noting that this percentage will increase next year.
Khalaf told Shafaq News Agency, “Iraq invests 70% of its associated gas, but it needs 1,000 cubic meters of imported gas if there are economic challenges.”
He added, “The current investment amounts to 2,000 cubic meters of gas out of a total of 3,000 cubic meters. Part of the invested gas is consumed within the Ministry of Oil in the production process and for industrial purposes, while the other part, 1,000 cubic meters, is supplied to the Ministry of Electricity to operate power plants.”
He continued, “The Ministry of Oil has several projects in Basra and Dhi Qar provinces that will contribute to increasing gas production.” He added, “The ministry is working to increase gas investment, which will rise from 2,000 cubic meters per day to 2,700 cubic meters per day next year.”
In 2023, Iraq reportedly made progress in exploiting associated gas, achieving a utilization rate of 60%: 700.8 billion cubic feet of the 1,141.8 billion cubic feet of associated gas produced were exploited, according to Izzat Sabir, Iraq’s Deputy Oil Minister for Gas Affairs, in an interview conducted in March 2024.
However, international data from the same year indicated that 636.8 billion cubic feet were burned, resulting in heavy methane emissions.
