Latest news with #al-Hindawi
Iraqi News
7 days ago
- Business
- Iraqi News
Iraq's five-year development plan to generate $540 billion
Baghdad ( – The spokesperson for the Iraqi Planning Ministry, Abdul-Zahra al-Hindawi, revealed on Saturday that Iraq is expected to generate revenues of 710 trillion Iraqi dinars ($540 billion) over the 2024-2028 national development plan. In a statement to the Iraqi News Agency (INA), al-Hindawi explained that oil will account for the highest part, projected at 631 trillion Iraqi dinars ($481.6 billion), with non-oil income reaching 79 trillion Iraqi dinars ($60.3 billion). The Iraqi official stated that the strategy calls for more than 241 trillion Iraqi dinars (nearly $184 billion) in investment to attain a 4.24 percent annual economic growth rate. The public sector is planned to invest 157 trillion Iraqi dinars (approximately $120 billion), while the private sector will contribute 84 trillion Iraqi dinars ($64.13 billion), according to al-Hindawi. The Iraqi official elaborated that the 2024-2028 plan intends to reduce unemployment to 10 percent from the present 13 percent. Al-Hindawi stated that the plan aims to keep inflation under control in order to protect vulnerable individuals and promote job opportunities. The level of poverty is expected to fall to less than 15 percent throughout the five years. The strategy also intends to lessen dependency on oil by diversifying revenue sources and promoting growth in non-oil industries.
Iraqi News
27-07-2025
- Business
- Iraqi News
Inflation rates decline in Iraq
Baghdad ( – The Iraqi Ministry of Planning declared on Saturday that monthly and annual inflation rates have declined in June. The spokesperson for the Planning Ministry, Abdul Zahra al-Hindawi, mentioned in a statement that the monthly inflation rate in key marketplaces throughout Iraqi provinces fell by 1.2 percent in June compared to May, according to Shafaq News. The annual inflation rate in Iraq also fell by 0.6 percent compared to June 2024, according to al-Hindawi. A study published in April by the International Monetary Fund (IMF) mentioned that Iraq's inflation rate is projected to slightly drop in 2025. In 2024, Iraq's annual inflation rate was 2.6 percent, down from 4.4 percent in 2023 and 5 percent in 2022. According to IMF projections, Iraq's inflation rate would drop somewhat to 2.5 percent in 2025, increase to 2.7 percent in 2026, and reach three percent in 2030. Early in March, the Central Bank of Iraq (CBI) reported that the country's total annual inflation rate had dropped to 2.8 percent. According to the CBI, Iraq's annual inflation rate decreased from four percent in the fourth quarter of 2023 to 2.8 percent in the same period of 2024.
Shafaq News
02-07-2025
- Business
- Shafaq News
New district in Iraq: Diyala's Qara Tapa elevated
Shafaq News – Baghdad On Wednesday, Iraq's Planning Ministry approved the elevation of Qara Tapa to district status in Diyala province, according to ministry spokesperson Abdul Zahra al-Hindawi. The move, al-Hindawi asserted, followed confirmation that Qara Tapa met national planning standards through a feasibility study conducted by the ministry's Regional and Local Development Department. Elevating Qara Tapa to district status is expected to enhance local service delivery, spur job creation, and support urban and rural development through more focused governance. Diyala province, northeast of Baghdad and home to nearly 1.6 million people across diverse communities of Arabs, Kurds, and Turkmen, has faced challenges in infrastructure delivery and regional development.
