Iraq Faces Exceptional Economic Challenges Amid Regional Tensions, Says Prime Minister Al-Sudani

According to the International Desk of Webangah News Agency, in a report from Al-Mehr News Agency citing Shafaq News, Iraqi Prime Minister Mohammed Shia Al-Sudani announced on Sunday that Baghdad is striving to reduce existing regional tensions and participate in resolving its crises. Concurrently, the nation is grappling with ‘exceptional’ economic challenges, influenced by the repercussions of ongoing conflicts and the potential closure of the Strait of Hormuz.

Al-Sudani emphasized that Iraq’s foreign policy is founded on an open approach, mutual respect, and shared interests. He further elaborated that Baghdad is actively pursuing the establishment of long-term economic and development partnerships with various countries worldwide, as well as with major international corporations and institutions.

The Iraqi Prime Minister also underscored the nation’s role and responsibility in supporting regional security and stability. He indicated that the government has formulated political, security, and economic strategies and plans to address current challenges.

Addressing Iraq’s economic conditions, Al-Sudani reiterated that the country is confronting ‘exceptional economic challenges’ due to the consequences of regional conflicts and the potential closure of the Strait of Hormuz. He affirmed the Iraqi government’s commitment to continue supporting and developing the private sector, recognizing it as a foundational pillar for the country’s development and economic diversification.