Allawi: we must activate the investment budget and finance the private sector

Shafaq News / The Iraqi Minister of Finance, Ali Allawi, stressed the need to activate the investment budget, finance the private sector and involve it in providing the state with revenues, during the next three years.

The Minister's media office said in a statement that Allawi chaired the fourth session to prepare the federal budget strategy for the medium term 2022-2024. 

The statement pointed out that the meeting discussed ways to reform and develop the approved systems by preparing budget strategies for the coming years with the Iraqi economy's need to achieve comprehensive economic development.

However, Allawi stressed, according to the statement, the importance of focusing on enhancing investment, maximizing non-oil financial resources, determining revenues, emphasizing the need to approve the program budget, to achieve the best performance according to the plans and times set.

In the same context, the Minister stressed the importance of adopting appropriate financing mechanisms and engaging the private sector.