The head of the advisory board in the Prime Minister's office, Youssef Khalaf Youssef Al-Dinawi, confirmed that the Iraqi government adopts a comprehensive economic and reform vision based on three main pathways to enhance stability, build a productive economy, and diversify sources of income. He pointed to the progress in economic and developmental reforms aimed at transitioning from a crisis economy to sustainable prosperity and enhancing Iraq's position and role in regional and international economic integration by implementing comprehensive reforms to build a productive economy and strengthen Iraq's regional standing.
Al-Dinawi stated in a speech during his participation in a dialogue session held by the International Institute for Strategic Studies in Bahrain, which was followed by Video News Agency, "First, I thank the Kingdom of Bahrain for hosting us in this important dialogue and the International Institute for Strategic Studies for these fruitful discussions that highlight the significance of challenges and how to confront them and ways to escape the suffocation our region is experiencing under these circumstances."
He added: "I am pleased to participate with you today in this important session discussing one of the most pressing issues facing our governments at this time: how to transition from addressing the effects of wars and crises and rebuilding what was damaged to establishing productive and resilient economies capable of achieving sustainable prosperity."
He continued: "I would like to address this topic from the perspective of the Iraqi experience, in light of the new Iraqi government's economic and reform vision, which stems from a fundamental conviction that political and security stability, economic reform, human development, and regional integration are not separate pathways, but rather interrelated elements in the project of building a modern state."
Youssef indicated that "the geopolitical upheavals our region has witnessed, particularly recent wars and conflicts, have proven that the effects of conflicts are no longer confined to the borders of the states experiencing them; they extend to energy markets, supply chains, international trade, food security, investment flows, and financial stability." He added that "these crises have shown the fragility of some economic models that rely on a single source of revenues, a single trade route, or supply systems lacking flexibility and alternatives."
He clarified that "for Iraq, these challenges hold compounded significance as it is a country with a pivotal geographical location and an economy that heavily relies on oil revenues, in addition to the accumulated challenges resulting from decades of war, terrorism, and instability."
He further noted: "Thus, the real challenge we face is not only the reconstruction of infrastructure but also the rebuilding of the state's, the economy's, and society's capacity to respond to shocks, reduce dependence on external conditions, and convert stability into sustainable developmental opportunities."
He asserted that "reconstruction, no matter how important it is, cannot be an end in itself; it should rather be a starting point towards a new economic model."
Youssef stated that "the new Iraqi government has embarked on its ministerial program for the next four years with a clear vision based on three main pillars: a stable state, a productive economy, and balanced partnerships."
He added that "the government has translated this vision into a comprehensive government program that covers fourteen key sectors, in an attempt to transition from addressing problems in a sectoral and separate manner to adopting interlinked reforms targeting the roots of challenges."
He explained that "this vision is based on three integrated pathways. The first pathway is to enhance state sovereignty and stability, unify security decisions, and establish the rule of law, thereby providing the necessary environment for economic activity and investment. The second pathway is economic and financial reform through diversifying sources of income, reforming the banking system, improving public spending efficiency, enhancing the role of the private sector, and rebuilding trust in the national economy. The third pathway is community building and human development through improving essential services, developing education and health, empowering youth and women, and enhancing social protection and fairness in the distribution of development opportunities."
He continued: "We view these three pathways as a single system; sustainable economic growth cannot be achieved without stability, and long-term stability cannot be guaranteed without fair development that provides opportunities for citizens."
The head of the advisory board emphasized that "diversifying the Iraqi economy represents one of the most important strategic challenges that the government has prioritized."
He pointed out that "despite Iraq's large natural resources, the high dependence on oil renders public finances vulnerable to fluctuations in global prices, geopolitical upheavals, and challenges related to energy export routes."
He explained that "the government adopts an approach aimed at restructuring the economy and boosting productive sectors, particularly industry, agriculture, services, technology, and transportation."
He added that "this approach includes reforming the banking sector, developing the financial compliance system, enhancing non-oil revenues, restructuring public spending, and improving resource management efficiency."
He noted that "the government places empowering the private sector at the heart of the economic transformation process, starting from the premise that the state cannot remain the largest employer, funder, and investor in all sectors, but should gradually transform into an organized state that stimulates economic activity, sets policies, protects competition, ensures fairness and transparency, and allows the private sector to lead growth and generate job opportunities."
He continued: "The message we want to convey here is clear: The future of the Iraqi economy should not be measured merely by the size of its oil production but by the amount of added value it can produce, the job opportunities it creates, and its ability to compete and integrate into regional and global economies."
Youssef affirmed that "one of the most important lessons revealed by recent crises is that infrastructure is no longer just about roads, bridges, ports, and power plants; it has become a fundamental element of national and regional economic security."
He added that "countries that lack diverse transportation networks, multiple energy sources, and advanced digital infrastructure are more capable of coping with economic and geopolitical disruptions."
He indicated that "Iraq possesses, in this context, a strategic opportunity to transition from being a market and geographical passage to a regional center for trade, transport, energy, and data."
He pointed out that "the development road project stands out as one of the most important strategic projects that could reshape Iraq's role in regional and international trade flows by connecting Iraqi ports to transportation networks extending towards Turkey and Europe, as well as through energy corridors and a strategic pipeline project that Iraq is working on with partners to create a passage from southern Iraq through Syria and Jordan up to Turkey, reaching Europe."
He emphasized that "the real significance of this project is not limited to freight transport but includes what can emerge from its extension in terms of industrial zones, logistics centers, commercial services, investment opportunities, and job creation."
He also added: "In parallel, the government seeks to develop energy infrastructure, enhance electrical and gas connectivity with neighboring countries, expand oil export outlets, and develop ports and industrial value chains."
Al-Dinawi pointed out that "ladies and gentlemen, it is important to emphasize that the economic challenges facing countries are not always related to resource scarcity; they may also relate to the efficiency of institutions and their ability to manage these resources."
He added that "institutional reform and comprehensive digital transformation represent a central axis in the Iraqi government program, as the government is moving towards launching a comprehensive national strategy for digital transformation, developing telecommunications infrastructure and government data centers, automating procedures and services, and enhancing cybersecurity and artificial intelligence systems."
The head of the advisory board confirmed that "Iraq's experience, given the significant challenges it has faced over the past decades, demonstrates that building peace and stability cannot be completed merely by ending conflicts, but requires building effective institutions, a productive economy, and a society that has confidence in the future."
He added that "it may be relatively easy to rebuild a bridge or a road or a facility damaged by war, but the greater challenge lies in rebuilding institutions, restoring trust, reforming the economy, and providing opportunities for future generations."
He continued: "We believe that Iraq, with its resources, geographical location, and human capabilities, is capable of transforming from a country that has been affected by conflicts and crises for decades into an effective regional and international partner in development and stability."
The head of the advisory board concluded his remarks by saying: "I would like to end with a message that I believe summarizes the essence of this session: Reconstruction rebuilds what the crises have destroyed, and development builds the capabilities of the state and society, while prosperity is achieved when these capabilities become sustainable and transform into economic opportunities and a better life for citizens."
He stressed that "this is the transformation that Iraq seeks to achieve in the forthcoming phase."