Iraq Economic News and Points To Ponder Saturday Afternoon 11-29-25
Planning Ministry Announces A Decrease In Inflation Rates During The Past Month
Economy | 29/11/2025 Mawazin News - Baghdad: The Ministry of Planning announced a decrease in monthly and annual inflation rates during October.
Ministry spokesperson Abdul Zahra al-Hindawi stated that "the Statistics and Geographic Information Systems Authority, through its field teams monitoring the prices of goods and services in all governorates, recorded a decrease in the monthly inflation rate of 0.3% compared to September." He added that "annual inflation also recorded a decrease of 0.5% during October, compared to the same month in 2024."
Al-Hindawi explained that "the decrease in inflation is mainly due to a 0.5% drop in the prices of food and non-alcoholic beverages, with fish prices decreasing by 4.9% and fruit prices by 2.4%."
He further noted that "the housing sector recorded a decrease of 1%," pointing out that "prices in several other sectors fluctuated slightly, while others maintained their previous rates." https://www.mawazin.net/Details.aspx?jimare=270927
Basra Crude Closes With Weekly Gains
Economy | - 29/11/2025 Basra News Agency – Basra: Basra Heavy and Basra Medium crude oil closed with gains last week. Basra Heavy closed its last session on Friday up 68 cents at $60.34, recording weekly gains of 75 cents, or 1.26%.
Basra Medium also closed its last session up 68 cents at $61.34, recording weekly gains of 75 cents, or 1.22%.
Brent and US crude are on track to post losses for the fourth consecutive month, their longest losing streak since 2023, as rising global supply weighs on prices, despite both crudes rising by more than 1% during the week.
https://www.mawazin.net/Details.aspx?jimare=270920
Dollar Prices Rise Again In Baghdad As The Day Closes
Economy | 29/11/2025 Mawazin News - Baghdad: The exchange rate of the US dollar against the Iraqi dinar saw a significant increase in the Baghdad and Erbil stock exchanges at the close of trading on Saturday evening.
The selling price reached 143,500 Iraqi dinars per 100 US dollars, while the buying price reached 141,500 Iraqi dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=270946
Globally, Gold Prices Rose By 3.6%
Economy | 29/11/2025 Mawazin News - Follow-up: Gold prices rose 1.4% on Friday, trading at $4,237 per ounce.
Increased expectations that the US Federal Reserve will cut interest rates fueled the rise in gold prices, while silver prices also reached a new record high. In one week, gold prices rose 3.6%, and in one month, they have increased by 5.2%.
This marks the fourth consecutive month of gains for gold. Silver prices also saw a significant increase, with an ounce rising 6.1% on Friday, trading at $56.41. https://www.mawazin.net/Details.aspx?jimare=270923
Saleh To Al-Furat News: Electronic Wallets And Mobile Banks Are The Path To Financial Inclusion For Vulnerable Groups
Time: 2025/11/29 Readings: 75 times {Economic: Al-Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed that electronic wallets and mobile banks represent a key mechanism to enhance financial inclusion for vulnerable groups in Iraq, to enable women, youth and rural residents to access banking services, reduce reliance on cash, and expand financing opportunities for small and medium enterprises.
Saleh told Al-Furat News that “financial inclusion indicators in Iraq have recently risen to more than 40%, compared to previous low levels, after suffering greatly from the high percentage of the population not covered by banking, especially in remote areas that suffer from weak banking and communication infrastructure, in addition to weak financial awareness, widespread reliance on cash, and limited funding for small and micro enterprises.”
He explained that “financial literacy, human capacity building, national awareness campaigns on saving, banking services, and protection from financial fraud represent one of the pillars of financial inclusion, along with introducing financial literacy skills into school curricula and vocational education,” considering financial inclusion “one of the pillars of economic and social stability.”
Saleh pointed out that “weak access to organized financial services deepens the disparities between urban and rural groups,” stressing that “the policy required to promote financial inclusion will provide innovative options for remote areas and vulnerable and poor groups through mobile banking and the provision of direct services, in addition to developing strategic partnerships between banks and telecommunications companies to deploy mobile payment services and enhance digital transfer networks to facilitate access to financial transfers for all residents.”
According to the economic advisor, "The expected effects of these policies will contribute to integrating hundreds of thousands of citizens into the formal banking system, improving project financing opportunities, and creating new jobs by expanding affordable lending and microfinance initiatives and establishing digital platforms to connect entrepreneurs with banks and financing providers, while reducing the economy's reliance on cash and increasing transaction efficiency."
He stressed that “the Central Bank of Iraq is working on implementing a digital financial inclusion strategy in a coordinated and phased manner, focusing on digital financial transformation through electronic wallets, mobile payments, and the adoption of digital and biometric identity to open bank accounts remotely and reduce operational costs for citizens,” considering the bank account “a fundamental pillar in financial inclusion.”
Saleh concluded by saying that “enhancing financial inclusion requires an integrated vision that combines digitalization, financial regulation, capacity building and expanding financing for small projects,” noting that “implementing these policies will create a more inclusive and sustainable economy and enhance the resilience of families and projects in remote areas and their active participation in sustainable development, in line with the 2024-2028 development plan and Iraq’s 2050 vision.” LINK
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