Iraq approves package cutting state support, tightening tax collection

BAGHDAD, Iraq — The Iraqi government has approved a package of economic measures that remove state subsidies and tighten tax collection, according to the government's announcement. The decisions are aimed at narrowing the country's fiscal deficit and boosting public revenue. The package includes the gradual lifting of subsidies across various categories, along with provisions to improve compliance in customs and tax collection. Officials said the new rules also cover a review of budget items and efforts to bring the informal economy into the formal system. The government said the implementation timeline for the measures will be announced by the relevant ministries once the decisions take effect. No further details on the rollout schedule were immediately available.