Iraq Economic News and Points To Ponder Monday Afternoon 8-11-25
Complete Power Outage In Iraq
August 11, 2025 Baghdad - Al-Zaman The Iraqi Ministry of Electricity announced on Monday a complete power outage and shutdown of the electricity grid after the network lost more than 6,000 megawatts of power in a sudden and accidental manner, leading to an acceleration in the frequency of generating units.
In the midst of a scorching summer with temperatures exceeding fifty degrees, the complete power outage in Iraq came as a painful slap on top of the flames of bodies, as if the air itself had turned into a wall of fire surrounding cities and villages.
Voices of anger rose on social media, with one tweet saying: “We are burning without a fan, without air conditioning, without hope,” and another mocking: “Electricity in Iraq is like a crescent moon, we only see it for a few days.”
Houses have turned into ovens, walls storing the day's heat and re-igniting it at night. Children seek refuge on rooftops for a passing breeze, while the elderly suffocate in closed rooms.
In the markets, refrigerators and iced water dispensers stopped working, making a glass of cold water a luxury, and ice machines were selling for many times their original price, amidst crowding and confusion.
An activist wrote on Facebook: “It’s not the darkness that kills us, it’s the heat that devours our breath,” while another commented: “In the land of oil, we buy generators so we can live an hour of air.”
The wave of discontent extended to small protests in some neighborhoods, where young people gathered carrying signs reading "Electricity is a right, not a favor," while social media networks broadcast live from the burning alleys.
The ministry confirmed that control centers are working intensively to gradually restore the isolated units and transmission lines to operation over the coming hours.
The official spokesman for the Ministry of Electricity, Ahmed Musa, said, “The increased loads on the system in Karbala and Babylon caused the disconnection of the two power transmission lines (Musayyib-Babylon 400 kV) and the system to be completely shut down.” He pointed out that “the ministry is working day and night to serve citizens and complete strategic projects that will support the capabilities of the electricity system (production, transmission, and distribution).” LINK
The Power System Will Gradually Begin To Be Restored, And Service Will Be Fully Restored Within Hours.
Energy The Ministry of Electricity announced on Monday that it would begin gradually restoring the power system and restore full service within hours.
Undersecretary of the Ministry of Electricity for Production Affairs, Mohamed Nehme, said in a statement: "An emergency disconnection occurred this afternoon in the electrical power transmission lines, causing a blackout in large parts of the national electricity system."
He added, "Our technical teams are currently working to address the fault and restore operation. They have begun gradually restoring power, and service will be fully restored within the coming hours."
Earlier on Monday, the ministry announced that the grid had suddenly and accidentally lost more than 6,000 megawatts, which led to an acceleration in the frequency of generating units, leading to their shutdown and a complete blackout of the system.
The ministry confirmed that control centers are working expeditiously to gradually restore disconnected units and transmission lines to operation over the coming hours. https://economy-news.net/content.php?id=58667
Government Advisor: Great Stability In The Iraqi Market And Inflation Falling To Less Than 3%
Time: 2025/08/11 11:25:37 Reading: 570 times {Economic: Al Furat News} The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed that the significant positive interaction in the Iraqi market has had a significant impact on its stability, noting that this success is evident in the decline in annual inflation rates to below 3%.
Saleh told Al Furat News Agency, "This remarkable decline in annual inflation rates indicates that expectations related to the exchange rate are moving toward calm and stability."
He added, "The parallel currency exchange market has begun to clearly follow the official market, and this trend is expected to continue until the end of this year, based on current economic data."
This development, according to Saleh, reflects "an improvement in overall economic performance and the success of monetary and government policies aimed at regulating markets and achieving the desired economic stability." LINK
Saudi Arabia affirms its commitment to continued cooperation with Iraq.
Money and Business
Economy News - Baghdad
President Abdul Latif Jamal Rashid discussed on Monday with the Saudi Ambassador to Iraq, Abdulaziz Al-Shammari, the importance of continuing joint cooperation at all levels.
The Presidency of the Republic stated in a statement received by "Al-Eqtisad News" that "the meeting discussed the importance of developing prospects for joint cooperation between Iraq and the Kingdom of Saudi Arabia and coordination on various issues of mutual interest, in order to achieve the aspirations of the two brotherly peoples for development, prosperity, and the establishment of security and stability in the region."
In turn, the Saudi ambassador affirmed, "The Kingdom is keen to maintain cooperation with Iraq at all levels in a way that serves progress, prosperity, and stability," noting the "depth of relations and ties between the two countries." https://economy-news.net/content.php?id=58648
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