Iraq Economic News and Points To Ponder Saturday Morning 3-7-26
Border Crossings: We Will Not Be Affected If Any Seaport Is Shut Down.
Money and Business Economy News – Baghdad The head of the Border Ports Authority, Lieutenant General Omar Al-Waeli, confirmed on Saturday that the border ports will not be affected if any sea port stops operating, as there are alternatives. He also indicated that the Authority's staff have begun bringing in all containers to supply the Iraqi market with goods around the clock.
Al-Waeli said, according to the official agency, that “all the staff of the Ports Authority are currently present at the seaports, and these staff have begun to bring in all the containers that are present after they have been subjected to the proper procedures,” noting that “the working departments, especially the customs employees, have been reinforced with staff in order to speed up the entry of goods.”
He added that "the Authority is working on implementing Cabinet Resolution No. 100 of 2026, which includes procedures to facilitate the release of containers," noting that "there are land ports such as Trebil, Arar, Safwan and Al-Qaim as alternatives in case any sea port stops operating."
He added that "the authority is working around the clock to ensure the entry of goods and commodities according to a well-thought-out plan, and work will not be affected if any port is shut down because there are other ports with neighboring countries." https://www.economy-news.net/content.php?id=66455
The Dollar Rises In Baghdad As The Stock Exchange Opens.
Money and Business Economy News – Baghdad The exchange rate of the US dollar rose this morning, Saturday, in the markets of the capital, Baghdad, with the opening of the stock exchange at the beginning of the week.
The dollar exchange rate in Baghdad’s Al-Kifah and Al-Harithiya exchanges was recorded at 156,400 Iraqi dinars per 100 dollars, after it had been recorded last Thursday at 156,000 dinars per 100 dollars.
The selling prices in exchange shops in the local markets of Baghdad also witnessed an increase, as the selling price reached 157,000 dinars for 100 dollars, while the buying price recorded 156,000 dinars for 100 dollars.
https://www.economy-news.net/content.php?id=66452
FAO: Global Food Prices Rise In February
Money and Business Economy News - Follow-up The United Nations Food and Agriculture Organization (FAO) said that global food prices rose in February after a five-month decline, as higher prices for cereals, meat and most vegetable oils offset lower prices for cheese and sugar.
The FAO Food Price Index, which tracks monthly changes in a basket of globally traded food commodities, averaged 125.3 points in February, up from 124.2 points in January.
The index is still less than 1% compared to last year, and nearly 22% lower than its peak in March 2022 following the outbreak of war in Ukraine.
Average grain prices rose 1.1% from the previous month, driven by a 1.8% increase in wheat prices due to climate risks in Europe and the United States. Prices remain 3.5% lower than their level a year ago.
Meat prices rose 0.8% compared to January.
Dairy prices fell 1.2%, continuing their months-long decline, mainly due to lower cheese prices in the European Union.
Sugar prices fell 4.1% to their lowest level since October 2020, reflecting expectations of ample global supply, including record production in the United States. https://www.economy-news.net/content.php?id=66451
USD/IQD Exchange Rates Climb In Baghdad, Dip In Erbil
2026-03-07 Shafaq News- Baghdad/ Erbil The US dollar opened Saturday’s trading higher in Baghdad, hovering around 156,000 dinars per 100 dollars, while edging lower by about 400 dinars in Erbil.
According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 156,400 dinars per 100 dollars, up from the previous session’s 156,000 dinars.
In the Iraqi capital, exchange shops sold the dollar at 157,000 dinars and bought it at 156,000 dinars, while in Erbil, selling prices stood at 155,800 dinars and buying prices at 155,700 dinars.
https://www.shafaq.com/en/Economy/USD-IQD-exchange-rates-climb-in-Baghdad-dip-in-Erbil-5
Gold Prices Flat In Baghdad, Tick Up In Erbil
2026-03-07 Shafaq News- Baghdad/ Erbil Gold prices stabilized near 1.13 million IQD per mithqal in Baghdad on Saturday, while Erbil markets edged higher, with 21-carat gold rising by about 1,000 IQD per mithqal, according to a survey by Shafaq News Agency.
Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 1.130 million IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1.126 million IQD, unchanged from Thursday.
The selling price for 21-carat Iraqi gold stood at 1.100 million IQD, while the buying price reached 1.096 million IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 1.130 million and 1.140 million IQD, while Iraqi gold sold for between 1.100 million and 1.110 million IQD.
In Erbil, 22-carat gold was sold at 1.188 million IQD per mithqal, 21-carat gold at 1.135 million IQD, and 18-carat gold at 973,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-flat-in-Baghdad-tick-up-in-Erbil-4
US Dollar Drops In Baghdad, Erbil Markets
2026-03-07 Shafaq News- Baghdad/ Erbil The US dollar closed Saturday's trading lower in Iraq, hovering around 156,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 155,800 dinars per 100 dollars, down from the morning session’s 156,400 dinars.
In the Iraqi capital, exchange shops sold the dollar at 156,250 dinars and bought it at 155,250 dinars, while in Erbil, selling prices stood at 155,450 dinars and buying prices at 155,350 dinars.
https://www.shafaq.com/en/Economy/US-Dollar-drops-in-Baghdad-Erbil-markets
A Government Advisor Identifies Four Paths To Achieving Economic Diversification In Iraq.
{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed on Friday that achieving sustainable economic stability in Iraq requires expanding the productive base and activating four main policy paths to reduce dependence on oil revenues.
Saleh told Al-Furat News Agency: “The first path is based on manufacturing natural resources and maximizing their added value, indicating that Iraq possesses strategic resources such as silicon, sulfur and phosphate, and that moving from exporting raw materials to processing them industrially allows for the establishment of integrated production chains that contribute to increasing returns and generating job opportunities.
He added that the second track relates to revitalizing the micro, small and medium enterprises sector, as it is capable of absorbing about 60% of the workforce if the appropriate financial and regulatory environment is available, stressing the need to link these projects to a broader industrial strategy that focuses on infrastructure.
Saleh added that the third path includes developing the agricultural sector and enhancing food security through adopting digital transformation and developing logistics services, noting that expanding agricultural manufacturing doubles the economic value of products and creates productive links between agriculture and industry.
Regarding the fourth track, Saleh called for restructuring the tourism sector through partnership with the private sector and developing tourism infrastructure, stressing that Iraq represents a historical, archaeological and religious treasure trove that can be transformed into an important source of national income.
Saleh concluded by pointing out that achieving economic diversification requires the integration of policies that link industry, agriculture, services and tourism within a comprehensive development vision to build a more sustainable economy. LINK
Raghid
Energy War Could Collapse Global Economies, Qatar Minister Warns
2026-03-06 Shafaq News- Doha The ongoing war in the Middle East could severely disrupt global energy markets and potentially “collapse world economies” if it continues for several weeks, Qatar’s Minister of State for Energy Affairs Saad Sherida Al-Kaabi warned on Friday.
In an interview with the Financial Times, Al-Kaabi—who is also the managing director and CEO of QatarEnergy—said energy-exporting Gulf states may be forced to halt production within weeks, a scenario that could push oil prices to around $150 per barrel.
Earlier this week, QatarEnergy declared force majeure and suspended liquefied natural gas (LNG) production after an Iranian military attack targeted operational facilities in the industrial cities of Ras Laffan and Mesaieed.
“Qatar’s return to normal delivery schedules would take weeks to months even if the conflict stopped immediately,” Al-Kaabi stated, warning that Europe would face significant pressure in the energy market as Asian buyers compete aggressively for available LNG cargoes, while other Gulf producers may also struggle to meet contractual supply commitments.
“We expect that anyone who has not yet declared force majeure will do so in the coming days if the situation continues,” Al-Kaabi said, noting, “All exporters in the Gulf region will have to declare force majeure. Otherwise, they will eventually face legal liability.”
The minister cautioned that a prolonged conflict could disrupt global economic growth and drive energy prices sharply higher worldwide.
Al-Kaabi said Qatar’s offshore facilities were not damaged, but the impact of the attack on land-based infrastructure is still being assessed. “We still do not know the full extent of the damage, and it remains unclear how long repairs will take,” he added.
He also indicated that Qatar’s $30B expansion project at the North Field—aimed at increasing LNG production capacity from 77 million tonnes to 126 million tonnes annually by 2027—will likely be delayed. The first phase had been scheduled to begin production in the third quarter of this year.
https://www.shafaq.com/en/Economy/Energy-war-could-collapse-global-economies-Qatar-minister-warns