Sudani meets economists, professors on financial and trade policy

BAGHDAD — Prime Minister Mohammed Shia al-Sudani met Monday with a group of Iraqi economists and university professors to discuss financial and trade policies as Iraq faces what he described as “global economic fluctuations and challenges,” according to a statement from his media office.

The statement said the meeting reviewed public financial management, foreign trade and approaches to strengthening financial stability. It said discussions also covered government efforts to diversify revenues, rationalize spending, stimulate the private sector and create jobs.

Al-Sudani said the consultation reflects the government’s commitment to “listen to specialized professional perspectives” and stressed the need for “balanced decisions that combine immediate responses to challenges with continued structural reforms,” according to the statement.

Iraq’s economy remains heavily dependent on oil revenue, leaving it exposed to global shocks and oil price volatility. Unemployment, especially among young people, remains a persistent challenge, while water scarcity continues to pressure agriculture and food security.

Statement from Al-Sudani’s media office:

Prime Minister Mohammed S. Al-Sudani received today, Monday, a group of experts and Iraqi university professors specializing in economic and financial affairs.

The meeting reviewed current economic developments and challenges related to public financial management and foreign trade, in addition to discussing ways to strengthen financial stability. It also addressed the government’s efforts to diversify revenue sources, rationalize spending, support the private sector and involve it in development plans, stimulate productive activity, and create more job opportunities.

His Excellency affirmed that this meeting comes within the framework of the government’s keenness to expand consultation and listen to specialized professional perspectives in discussing a range of economic, financial, and trade issues, in light of global economic fluctuations and challenges and their repercussions on Iraq’s economic situation.

The Prime Minister emphasized the importance of benefiting from national expertise in shaping economic, financial, and trade policies, stressing that the current phase requires balanced decisions that combine immediate responses to challenges with continued structural reforms that ensure economic sustainability and protect social stability.

Prime Minister Al-Sudani directed that these consultations continue and that their outcomes be reflected in the government’s economic visions and orientations, in a manner that enhances the effectiveness of decision-making and keeps pace with ongoing economic developments.

The participating economists presented a set of practical perspectives and proposals, affirming their support for the government’s efforts to confront economic challenges and strengthen the reform path, in a way that serves the public interest and supports comprehensive development in the country.