AM:11:28:17/12/2025
368 View
+
-
- Prime Minister Mohammed Shia Sudani said on Wednesday that Iraq’s foreign cash reserves have reached $108 billion, while gold reserves have increased from 130 tons to 172 tons, marking a rise of 42 tons.
Sudani said tax revenues are expected to reach eight trillion dinars by the end of this year, with six trillion dinars allocated annually for social welfare and 12 trillion dinars earmarked for development projects.
He added that around 43 million citizens benefit from the food ration system, noting that the government has implemented significant reforms to reduce spending and financial waste. Sudani also said investment licenses worth $100 billion have been granted for ongoing projects.
Meanwhile, Sudani’s financial advisor, Mazhar Saleh, told the Sabah newspaper that the Iraqi government aims to reduce dependence on oil revenues and increase the share of non-oil revenues to 20 percent of total income.
In addition, the Iraqi Council of Ministers unanimously approved a bill to reduce the salaries and expenditures of the three presidencies, the Council of Ministers, and parliament, a move aimed at cutting additional spending and increasing revenues in a gradual manner.