Al-Sudani stresses the need to adopt a new path of economic reform

Baghdad - INA 

Prime Minister Muhammad Shia Al-Sudani stressed today, Saturday, the need to adopt a new path for economic reform through the adoption of the Iraq Fund for Development. 

The media office of the Prime Minister said in a statement received by the Iraqi News Agency (INA): "The Prime Minister, Muhammad Shia' al-Sudani, received a delegation such as the chairmen of the boards of directors of private banks and their representatives, and the Association of Private Private Banks in Iraq.".

The statement added, "Al-Sudani reviewed, at the outset of the meeting, the most important basic economic action axes that the government adopts in its approach. He also clarified the most prominent financial and social challenges and crises facing sustainable development, most notably the problems of poverty and unemployment.".

According to the statement, the Prime Minister expressed his conviction in the importance of economic solutions, and relying on them to improve the service and living conditions of citizens.

The statement continued, "Al-Sudani indicated the need to adopt a new path for economic reform, by approving the Iraq Fund for Development, which will carry an orientation towards implementing projects by the private sector, through specialized funds that contribute to development programs.".

Al-Sudani pointed out, "The need for an efficient banking sector that enjoys the confidence of citizens, without which the government cannot support development and the private sector.".

For their part, bank managers and representatives presented their vision, problems, and proposals, which are in the path of supporting development.

The statement noted that "the Prime Minister directed work to facilitate it, and the formation of a joint team of advisors in the Presidency of the Council of Ministers and private banks, to review legislation that hinders the work of banks, proposing investment projects, setting up mechanisms to support private banks and activating their role, as well as receiving studies and proposals and providing possible solutions.