Iraq Economic News and Points To Ponder Monday AM 10-7-24
The Closure Of Most Private Banks And Fears Of A Liquidity Crisis Amid Citizen Anger
private files , 2024/10/06 23:57 , Number of readings: 174 Baghdad - Iraq today: Today, many banks in Iraq witnessed a state of chaos and tension after their sudden closure, which raised widespread concern among citizens, especially with the emergence of reports of some other banks refusing to return customer deposits under the pretext of a lack of cash liquidity.
This development prompted many citizens to quarrel with the managements of the banks that remained open, in light of mounting fears that the officials of these banks would flee after emptying them of funds.
Banks that closed their doors include: World Bank Assyrian consumption Consumption of Babylon Al Ansari Bank Middle East Bank Holding Bank Noor Bank of Iraq Trans-Iraq Bank Al Huda Bank Mosul Bank
As for the banks that remained open, but refused to return customer deposits under the pretext of a lack of liquidity, they include: National Bank Consumption of Baghdad Development Bank Hermit Bank South Bank United Bank Union Bank Spectrum Bank
This sudden closure comes amid reports of financial turmoil hitting the banking sector in Iraq, as
many customers expressed their fear of losing their money amid increasing rumors about the intention of some bank officials to flee outside the country after withdrawing financial assets from the branches.
https://iraqtoday.com/news/85298/إغلاق-أغلب-المصارف-الأهلية-ومخاوف-من-أزمة-سيولة-وسط-غضب-المواطنين
About 6 Thousand Dollars Per Capita GDP In Iraq
Economy Iraq breaking Per capita 2024-10-05 02:24 Shafaq News/ The German website Statista, which specializes in market and consumer data, revealed that the per capita GDP in Iraq will reach approximately 6 thousand dollars in 2024.
The website said in a table seen by Shafaq News Agency that the per capita GDP in Iraq amounts to 5,978 thousand dollars, expected that the per capita share will continue to rise during the next five years to 6,824 thousand dollars in 2029. He added,
"The largest per capita GDP in Iraq during the past 15 years was in 2013, when it reached $7,021, and the lowest was in 2009, when it reached $3,701."
This indicator describes GDP per capita at current prices, so GDP was first converted from the national currency to the US dollar at current exchange rates and then divided by the total population.
It is noteworthy that the GDP is a measure of a country's productivity, and refers to the total value of goods and services produced during a certain period of time (a year). https://shafaq.com/ar/اقتصـاد/حوالي-6-لاف-دولار-نصيب-الفرد-من-الناتج-المحلي-ال-جمالي-في-العراق
Iraqi Oil Exports To The United States Decline
Energy Economy News – Baghdad The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to the United States declined during the past week.
The administration stated in a table published and reviewed by "Al-Eqtisad News" that "the average US imports of crude oil from 10 major countries amounted to 5.744 million barrels per day, an increase of 343 thousand barrels per day compared to the previous week, which recorded 5.401 million barrels per day."
The administration added that "Iraq's oil exports to America amounted to 152 thousand barrels per day during the past week, recording a decrease of 113 thousand barrels per day compared to the previous week, when exports amounted to 265 thousand barrels per day."
The administration indicated that "the largest source of oil to the United States during the past week was Canada, at a rate of 3.799 million barrels per day, followed by Mexico, at an average of 448 thousand barrels per day, then Colombia, at an average of 347 thousand barrels per day, and Venezuela, at an average of 297 thousand barrels per day."
According to the table, "US imports of crude oil from Ecuador amounted to 253 thousand barrels per day, from Brazil 186 thousand barrels per day, from Saudi Arabia 145 thousand barrels per day, from Nigeria 84 thousand barrels per day, and from Libya 77 thousand barrels per day." 108 views Added 2024/10/06 - https://economy-news.net/content.php?id=48377
Increase In Iraqi Oil Product Revenues Through Electronic Payment
Electronic payment at gas stations Money and business Economy News – Baghdad m The Oil Products Distribution Company announced an increase in its sales of oil derivatives through the electronic payment window POS during the month of September, with revenues exceeding one billion Iraqi dinars for the month of August.
The company’s general manager, Hussein Talib Abboud, revealed that the company’s sales via electronic payment of fuel types in all its distribution outlets in the country reached approximately (740) billion Iraqi dinars, i.e. a difference of more than one billion dinars from the month of August, whose sales amounted to approximately (633) billion dinars.
He stressed that "the gradual rise in revenues from petroleum products since the start of the electronic payment project on April 1, 2023 is nothing but evidence of its success since the moment of its launch and represents an important step in the project to automate distribution work."
The company's general manager noted that "the distribution company is the first company in Iraq to introduce electronic payment service into its operating system in all its distribution outlets, and it also included those dealing with the company from gas and kerosene agents, generators, and constructed stations, in addition to tank conditioning and others."
Hussein Talib Aboud confirmed the company's determination to complete the drawn plans by equipping all fuel stations with electronic payment devices and ending cash transactions in implementation of the government program. 73 views 2024/10/06 - https://economy-news.net/content.php?id=48411
Planning Confirms Its Readiness To Conduct The Population Census On The Scheduled Date
Sunday 06 October 2024 11:17 | Economic Number of readings: 332 Baghdad / NINA / Minister of Planning, Mohammed Tamim, confirmed today, Sunday, the ministry's readiness to conduct the census on its scheduled date.
According to the ministry's statement, "Tamim inspected the operations room of the General Population and Housing Census in the Statistics and Geographic Information Systems Authority, with the aim of reviewing the progress of the numbering and enumeration operations taking place in all governorates, including the governorates of the Kurdistan Region, in preparation for conducting the population census on the twentieth of next November."
The head of the operations room and the work team in the statistics office provided "a detailed explanation of the progress of the numbering and enumeration operations and the rates of completion in each governorate," stressing that "the operations are proceeding at an accelerating pace, and that field work is witnessing great progress."
The minister confirmed, after reviewing the details of the field work, that "the ministry's readiness to conduct the census on its scheduled date has been completed," noting "the readiness of the data center as well as the communications center, in addition to other requirements." / End 11
https://ninanews.com/Website/News/Details?key=1160078
Exceeding 155 Thousand Dinars.. The Dollar Records A Crazy Rise In Local Markets
Economy | 06/10/2024 Mawazine News – Economy The US dollar exchange rates continued to rise today, Sunday, in the markets of the capital, Baghdad.
The dollar prices rose at noon in the Al-Kifah and Al-Harithiya stock exchanges to record 155,200 dinars per 100 dollars, while this morning's prices recorded 153,900 dinars per 100 dollars.
Meanwhile, selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 156,250 dinars, while the purchase price reached 154,250 dinars per 100 dollars.
https://www.mawazin.net/Details.aspx?jimare=255672
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