Al-Kadhimi’s advisor: Iraq needs to establish a permanent economic council

INA-  BAGHDAD

The financial advisor to the Prime Minister, Mizher Muhammad Salih, set Sunday the basic and main criterion in drawing up the country's economic policy, while stressing the country's need to establish a permanent economic council.

 Salih told the Iraqi News Agency (INA): "The basic and main criterion adopted by the government in drawing up economic policy, especially those affecting economic development, is the five-year development plan, which is the tool and chart that indicates essential goals, foremost of which is the people's happiness and well-being."

He added, "The five-year development plan is funded in accordance with the budget strategy and its quantitative objectives, whose estimates extend to at least three years."

He continued: " the financing and important part of the annual general budget (after the operational budget) is the government's annual investment spending and ways of financing it, as it sets aside at least 20% of the total public spending planned to finance government investments, annually.

He stressed, "The country is still in dire need of a permanent economic council that has executive powers for infrastructure and reconstruction, to ensure the implementation of strategic projects across governorates, such as major agriculture, transportation, water, energy, housing, construction and digital economy projects, all of which accelerate the degree of economic diversification."