Economy Update – Baghdad
On Wednesday, Prime Minister Mohammed Shia Al-Sudani announced the initiation of a price reduction initiative aimed at beneficiaries of social protection programs.
According to a statement from his office, this initiative aligns with the government’s priorities of addressing poverty and supporting vulnerable populations. The Prime Minister directed the Ministries of Trade, Labor, and Social Affairs to implement the price reduction for recipients of social protection cash subsidies.
The price reduction will commence on the first day of the holy month of Ramadan, with discounts ranging from 10% to 15% off the standard price for all items available at the newly established cooperative centers (Hyper Markets). Recently, six such centers have opened in Baghdad, with plans for an additional twenty-three centers in Baghdad and other provinces, potentially bringing the total to 150 food and essential goods centers. These efforts are part of the government’s strategy to enhance food security and access to essential commodities for citizens.
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