The Ministerial Council for the Economy approves the initial draft of the five-year national development plan for the years (2024-2028)

The Ministerial Council for the Economy approved, today, Monday, the initial draft of the five-year national development plan for the years (2024-2028). A statement by the Ministry of Foreign Affairs stated that Deputy Prime Minister and Minister of Foreign Affairs Fouad Hussein chaired, today, Monday, the sixteenth session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister, Minister of Planning, Ministers of Trade and Agriculture, the Governor of the Central Bank of Iraq, the Prime Minister's advisors for economic and legal affairs, and the Undersecretary of the Ministry of Oil, and discussed the items on its agenda and took the necessary decisions regarding them. The Council also discussed, according to the statement, the minutes of the recommendations of the Import Policies Implementation Committee and executive procedures in order to support imports and protect the national product. The Council also approved the Ministry of Trade's request to amend the companies' c apital and the percentage of liabilities, and the Council decided that the percentage of liabilities to the company's capital group and other owners' rights should not exceed 700% of its capital instead of 300%, except for joint-stock companies, in which case the percentage should not exceed 200% of its capital. The statement added that the Council reviewed a detailed report on the representation of the Minister of Trade in the meetings of the 113th regular session of the Economic and Social Council at the headquarters of the General Secretariat of the Arab League and reviewed the decisions related to the agreements of the Arab Common Market for Electricity, Arab Air Carrier Equipment, Arab Navigation, the initiative to establish the Arab Housing and Reconstruction Bank, Agricultural Development and Food Security, and the Council requested that the relevant authorities and ministries be obligated to respond to the Ministry of Commerce and provide their comments on the proposed decisions. According to the st atement, the Council reviewed the initial draft of the five-year national development plan for the years (2024-2028) and discussed the details of that plan in detail and decided to approve it and submit it to the Council of Ministers, taking into account the comments made by the Council members. Source: National Iraqi News Agency