Government advisor: The three-year budget paves the way for economic growth of approximately 5% annually.
Government advisor: The three-year budget paves the way for economic growth of approximately 5% annually.
2025-09-04
Shafaq News – Baghdad
The Prime Minister’s Advisor for Economic Affairs, Mazhar Mohammed Saleh, described the approval of the three-year budget on Wednesday as a “qualitative shift” in public finance management, providing a medium-term vision for government spending and breaking the traditional cycle of haphazard annual budgets.
Saleh told Shafaq News Agency, “This trend has created a more stable environment for public and private investment, and has enhanced the ability to implement strategic projects continuously without interruption or annual re-planning.”
He pointed out that “the gradual reforms, consistent with the government’s program, represent significant steps toward diversifying the economy and moving away from its near-total dependence on oil revenues.”
He added, “The new tax policies, the digital transformation of tax collection, and the reconsideration of support for some sectors have formed the nucleus for real economic reform.”
He stressed that “the three-year budget represents an important opportunity to restructure the Iraqi economy, but it is not a guarantee in and of itself. Rather, it requires effective implementation, strict oversight, and genuine coordination between the central government and the governorates to ensure that the fruits of this policy actually reach citizens within the framework of sustainable development and the 2024-2028 National Development Plan.”
Saleh emphasized that “implementing the three-year budget according to the established timetables will lead to an improvement in the real growth rate to approach 5% annually. Job opportunities will also increase, particularly in the governorates that will witness major development projects. However, this depends on the speed and efficiency of spending, as well as combating administrative and financial corruption.”
Saleh concluded by saying, “The three-year budget is not just numbers on paper. It is a real tool for bringing about tangible change in the lives of Iraqi citizens, and we hope these policies will translate into real and sustainable development across the country.”
shafaq.com
