The Ministerial Council for the Economy approved, on Monday, the Ministry of Trade’s request to recommend to the Cabinet the sale of local wheat to private mills at the previous price of 410,000 dinars per ton, in accordance with the global price equation.
Deputy PM and Minister of Foreign Affairs Fuad Hussein chaired the 35th session of the Ministerial Council for the Economy, which was held at the Council building in the presence of the Deputy PM and Minister of Planning, the Ministers of Finance, Trade, Agriculture, and Industry, the Secretary-General of the Council of Ministers, the Governor of the Central Bank, the Undersecretary of the Ministry of Oil for Distribution Affairs, the Deputy Chairman of the National Investment Commission, and the PM’s advisors for economic and legal affairs, said the Council’s Media Office in a statement received by the Iraqi News Agency – INA.
The Council discussed the items on its agenda and “took the necessary decisions regarding them, reviewing the implementation plan for the Poverty Reduction Strategy for the years 2026-2030.”
“This plan was developed by the Ministry of Planning according to an integrated general framework that ensures the proper implementation of the strategy. It begins by defining the vision, mission, and primary objective of the strategy, which is to halve poverty. It then moves on to identifying priorities, foundations, and assumptions. Implementation mechanisms and plans for risk management are then developed. Finally, the framework enhances the elements of follow-up, monitoring, and evaluation. The basic vision of the strategy is to transform the poor into producers and economically and socially integrate them into society by empowering them and building their capacities,” the statement included.
The Council approved the Ministry of Trade’s request to recommend to the Cabinet the sale of local wheat to private mills at the previous price of 410,000 dinars per ton, in accordance with the global price equation. “It also agreed to exempt the Iraqi Housing Fund from electronic payment commissions, deducting them as administrative expenses, given that the bank grants interest-free loans to citizens.”
The statement indicated that “the Council hosted representatives of the State Oil Marketing Company (SOMO) to discuss the Central Bank of Iraq’s report on the analysis of the global oil market and its prospects until 2026, as one of the supporting tools in the process of economic monitoring and assessment of risks and future trends in energy markets, so that these reports can be taken into consideration when preparing the state’s general budget and economic plans that support revenues that feed the public treasury.”
