RIYADH: Iraq plans to implement tax reforms to maximize its revenues from non-oil resources, Asharq Business reported, citing Finance Minister Ali Allawi
Oil revenues currently account for 96 percent of the country’s budget.
The minister said that the recent devaluation of the dinar was crucial to the structure of the economy and that the negative effects of the move would gradually diminish.
He added that a full float of the currency may occur in the future, but that the Central Bank would in the meantime maintain the current exchange rate level for as long as possible.
Iraqi foreign debt amounts to some $60 billion, Allawi said.
The government is not currently considering tapping the global debt market, he said. Instead the country would look to international financial institutions.
He noted that some $150 billion had been looted from state coffers by previous regimes.
Iraq plans to increase non-oil budget revenues, says finance minister
https://arab.news/9z2gp
Iraq plans to increase non-oil budget revenues, says finance minister
- Dinar devaluation was a necessity says minister
- No plans to tap international debt markets
RLC Global Forum 2026 opens, leading the agenda for transformation in retail industry
RIYADH: The RLC Global Forum 2026 opened in Riyadh on Feb. 3, aiming to shape the future of retail and consumer-facing industries by bringing together the most influential leaders from across the sector.
Addressing the opening session, Panos Linardos, chairman of RLC Global Forum, said: “We meet at a moment that feels fundamentally different from just a few years ago. Growth today is no longer linear. It is no longer evenly distributed. And it is no longer guaranteed.
“We find ourselves at what we call a growth crossroads, a moment where traditional models are under pressure, geopolitical dynamics are reshaping trade and investment, and leadership choices carry longer-lasting consequences.”
He added that at the 2025 event, the discussions were focused on trust and collaboration in a time of disruption.
“This year, the environment is more fragmented, more volatile, and more urgent,” he said, explaining that supply chains are shifting, consumer expectations are moving faster than organizations, and capital is more selective.
Linardos also stated that the boundaries between retail, real estate, technology, policy, and culture “are increasingly blurred.”
At a growth crossroads, progress is a shared responsibility requiring clarity, coordination, and balanced leadership, he said adding over the next two days, the forum will bring together global CEOs, retailers, and real estate leaders, as well as policymakers, academics, investors, and innovators.
“The purpose is clear: to examine how growth is being rebuilt, where it is being redefined, and what leadership looks like in this new context,” the forum chairman said.
Linardos set out details of the NextGen retail challenge, which is developed with the Innovation and Entrepreneurship Center at Princess Nourah bint Abdulrahman University and Monsha’at.
Vice Minister of Economy and Planning Ammar Nagadi used his opening remarks to put his perspective on how economic choices translate into competitiveness and long-term value is especially timely for the discussions ahead.
The 2026 forum is exploring six defining themes that capture the transformation reshaping global trade, consumption, and leadership: Growth in a Reordered World, AI and the Power of Multipliers, Global South as Growth Engine, Experience as Growth Infrastructure, Future Consumer Order, and Leadership Beyond Resilience.
