Iraq Economic News and Points To Ponder Late Monday Evening 7-6-26
The Iraqi Parliament Confirms Its Readiness To Legislate The Oil And Gas Law.
Shafaqna Iraq - Parliamentary statements confirmed that there is a trend within the House of Representatives to legislate the oil and gas law, in addition to working on developing non-oil resources and reducing dependence on the public sector.
Member of Parliament, Youssef Al-Kalabi, announced the readiness of Parliament to legislate laws supporting the national economy, foremost among them the oil and gas law, calling for the activation of the suspended clauses to maximize state revenues outside the oil sector, while praising the recent Cabinet decisions and describing them as having put its finger on the “source of the problem.”
Al-Kalabi said in a speech during the first economic conference entitled “ Iraq After Oil”: “The recent decisions of the Council of Ministers have begun to put their finger on the root of the problem.”
He pointed out that “previous decisions regarding component cranes, spare parts orders, and granted exceptions contributed to removing the real and serious private sector from the circle of competition in favor of groups that depend on other personalities.”
He then added that “the House of Representatives sees a need for a genuine revolution in the oil sector and its alternatives,” revealing that “more than 16 articles were drafted by Parliament in the previous session to maximize state revenues outside the oil sector, in cooperation with members of the Finance Committee.” He expressed his regret that 12 of those proposals were not implemented or acted upon.
The MP stressed that “the post-oil era requires two essential steps; the first is to expedite the enactment of the oil and gas law, given that the processes of extracting, marketing, exporting and developing oil are still subject to old laws that are outdated and no longer useful.”
He also explained that “the second step lies in developing non-oil imports and reducing the labor market’s dependence on the public sector as much as possible.”
Al-Kalabi added that “the House of Representatives is fully prepared to legislate these laws.”
He then pointed out that “the government program of the Prime Minister, which was voted on by Parliament, includes important clauses that give priority to enacting the oil and gas law, and opening the labor market to the serious and genuine private sector to be a key partner in economic development.” https://iraq.shafaqna.com/
Middle East: Al-Zaidi's Government Moves Towards Opening Files On Ministers, Governors, And Directors- General, While Tracking Their Money And Properties
Baghdad - One News - 7/06/2026 Middle East Monitor reported that the Iraqi government is preparing to launch the second phase of its anti-corruption campaign, in a move that expands the scope of prosecutions to include ministers, governors, directors-general, and current and former officials, while simultaneously tracking funds, real estate, and investments linked to those suspected of involvement inside and outside Iraq.
The website indicated that the new phase includes opening files in the Ministries of Health, Oil and Electricity, in addition to completing the procedures for the “Where did you get this?” bill to strengthen the prosecution of illicit enrichment; the step comes within the government’s efforts to expand accountability, recover public funds and prosecute those involved without exception. https://1news-iq.net/ميدل-إيست-حكومة-الزيدي-تمضي-نحو-فتح-ملف/
Al-Kalabi: The Recent Cabinet Decisions Have Put Their Finger On The "Source Of The Problem" In The Private Sector
Baghdad - WAA - Hassan Al-Fawaz Member of Parliament, Youssef Al-Kalabi, affirmed the readiness of Parliament to legislate laws that support the national economy, foremost among them the oil and gas law, calling for the activation of the suspended clauses to maximize state revenues outside the oil sector, while praising the recent Cabinet decisions and describing them as having put its finger on the "source of the problem".
Al-Kalabi said in a speech during the first economic conference entitled “Iraq After Oil,” which was attended by a correspondent from the Iraqi News Agency (INA): “The recent decisions of the Council of Ministers have begun to address the root causes of the problem,” noting that “previous decisions related to the components of cranes, spare parts orders, and granted exceptions contributed to removing the real and serious private sector from the circle of competition in favor of groups that depend on other personalities.”
He added that "the House of Representatives sees a need for a genuine revolution in the oil sector and its alternatives," revealing that "more than 16 articles were drafted by Parliament in the previous session to maximize state revenues outside the oil sector, in cooperation with members of the Finance Committee." He expressed his regret that 12 of those proposals were not implemented or acted upon.
The MP stressed that “the post-oil phase requires two basic steps; the first is to expedite the enactment of the oil and gas law, as the processes of extracting, marketing, exporting and developing oil are still subject to old laws that are outdated and no longer useful,” indicating that “the second step lies in developing non-oil imports, and reducing the labor market’s dependence on the public sector as much as possible.”
Al-Kalabi continued, “The House of Representatives is fully prepared to legislate these laws,” noting that “the government program of the Prime Minister, which was voted on by Parliament, includes important clauses that give priority to legislating the oil and gas law, and opening the labor market to the serious and genuine private sector to be a key partner in economic development.” https://ina.iq/ar/economie/267483-.html
The Value Of The Seized Items In The Adnan Al-Jumaili Case Has Risen To 127 Billion Dinars And 24 Million Dollars
Baghdad - One News - 7/06/2026 Judge Diaa Jaafar, the investigating judge of the Central Anti-Corruption Criminal Court, announced the seizure of new sums of money worth (25) billion Iraqi dinars, as well as the seizure of one million dollars, in addition to gold jewelry estimated at about (5) kilograms, within the framework of the ongoing investigations into the case of the accused Undersecretary of the Ministry of Oil for Liquidation Affairs, Adnan Al-Jumaili, who is detained, and the parties involved with him.
Judge Jaafar explained that the total amount of money seized had increased to (127) billion Iraqi dinars and (24) million dollars, in addition to the seizure of real estate, vehicles and other gold jewelry.
He stressed that investigations and the pursuit of those involved are ongoing, until all necessary legal procedures in the case are completed. https://1news-iq.net/ارتفاع-قيمة-المضبوطات-في-قضية-عدنان-ال/
Dawn Crackdown To Include Iraqi Corrupt Ministers And Governors
2026-07-06 / 00:59 Shafaq News- Baghdad Iraq's Dawn Crackdown (Sawlat al-Fajr) anti-corruption campaign will extend to ministers, directors-general, current and former lawmakers, and provincial governors in its next phase, to be carried out in more than three batches, MP Abdullah al-Khaigani told Shafaq News on Monday.
Prime Minister Ali al-Zaidi, Supreme Judicial Council President Faiq Zaidan, and the security forces executing the operations have agreed to pursue corrupt figures without targeting any political group at the expense of another, al-Khaigani said. The operations will cover all Iraqi provinces.
Inside the investigation, a senior government source told Shafaq News that the detainees held under the Dawn Crackdown are being questioned daily under strict secrecy measures that bar visits from political parties, lawyers, and outside contacts.
Specialized teams from the Anti-Corruption Court and the Federal Integrity Commission oversee the process. The measures are intended to prevent leaks that could allow suspects to flee the country, conceal evidence, or influence proceedings.
Legal procedures for a second phase are already complete, covering corruption files in the health, oil, and electricity ministries, and tracing funds, properties, and investment projects linked to officials in the United States, Europe, and Turkiye. A new list of accused individuals is being prepared alongside a review of an illicit enrichment bill.
The Federal Integrity Commission confirmed that arrest warrants are being executed in accordance with the law and under judicial supervision. New files that may implicate additional figures continue to be opened, judicial sources said, as part of broader efforts to recover public funds and pursue suspects inside and outside Iraq.
The arrest campaign launched at dawn on June 28, targeting political officials, lawmakers, and businessmen. Al-Zaidi described it during a Council of Ministers session as the first phase of broader measures to recover public funds, tasking oversight bodies with receiving indications of corruption or negligence across state institutions. On Saturday, he called on Iraqis to report corruption and directed that financial rewards be paid to informants.
Read more: Iraq detains top officials in anti-corruption sweep: What we know so far
https://shafaq.com/en/Iraq/Dawn-Crackdown-to-include-Iraqi-corrupt-ministers-and-governors
Central Bank Of Iraq: Domestic Currency Issued Rose To 112.9 Trillion Dinars By The End Of April
2026-07-02 04:03 Shafaq News - Baghdad Data from the Central Bank of Iraq, released on Thursday, showed that the volume of currency issued in the country rose to 112.896 trillion dinars from the beginning of 2025 until April 2026.
According to data seen by Shafaq News Agency, the total currency issued during the past year amounted to 99.799 trillion dinars, and 13.097 trillion dinars were added to it during the first four months of this year.
The net currency in circulation outside banks rose to 104.542 trillion dinars, after reaching 92.560 trillion dinars at the end of 2025, registering an increase of 11.982 trillion dinars.
The currency held by banks also increased to 8.354 trillion dinars by the end of April 2026, compared to 7.239 trillion dinars at the end of 2025, an increase of 1.115 trillion dinars.
These indicators point to the growth in the volume of issued and circulating currency in the Iraqi economy during the first months of 2026, coinciding with an increase in circulating cash liquidity and a rise in the volume of cash held by the banking sector.