Iraq Economic News and Points To Ponder Saturday Morning 9-27-25
Government Advisor: Iraq Is Experiencing A Major Price Boom.
Time: 2025/09/26 11:54:54 Reading: 915 times {Economic: Al Furat News} Mazhar Mohammed Saleh, the Prime Minister's advisor for financial affairs, confirmed that the economic policies pursued, both monetary and fiscal, have succeeded in achieving significant price growth in the country. He emphasized that this indicates the success of implementing these policies in combating inflation.
Saleh told Al Furat News Agency, "Monetary policy has succeeded in maintaining the positive effects of the official exchange rate of 1,320 dinars to the dollar, and isolating the effects of the parallel market from the local pricing system."
He pointed out that fiscal policy was another key factor in combating inflation, through a broad government support policy. He explained that this support includes the agricultural sector for grain production, support for the food and medicine basket, fuel, and electricity, in addition to customs and tax exemptions.
The Prime Minister's advisor explained that the percentage of this government support is estimated in the budget at approximately 25% of total public spending, or 13% of the country's gross domestic product.
Saleh added that trade policy has played a supporting role in combating inflation and stabilizing the Iraqi economy, through a price defense policy that involves the expansion of stores offering consumer and construction materials at cooperative prices.
Saleh concluded his statement by emphasizing that Iraq is experiencing a significant price boom, which indicates the success of the country's economic policy. LINK
Despite Tensions, Gold Is On Track For Its Sixth Consecutive Weekly Gain.
Economy | 08:57 - 09/26/2025 Mawazine News - Follow-up: Gold is heading for a sixth straight weekly gain, supported by escalating geopolitical tensions, inflows into gold-backed exchange-traded funds (ETFs), and increased risk aversion in global markets.
Spot gold traded near a record high of $3,744 per ounce, up more than 1% this week after peaking above $3,791 on Tuesday.
European diplomats warned the Kremlin this week that NATO was prepared to respond with full force to any further violations of its airspace, including the downing of Russian aircraft.
In broader markets, Asian shares fell after US President Donald Trump escalated his trade war, announcing a 100% tariff on branded or patented pharmaceuticals, in addition to measures against a range of other goods, including heavy trucks, kitchen cabinets, and bathroom sinks.
Gold has been on a strong run this year, hitting consecutive highs, supported by sustained demand from central banks and the Federal Reserve's resumption of interest rate cuts.
Prices are close to closing a third quarter of gains next week, with gold exchange-traded fund holdings hitting their highest level since 2022. Major banks, including Goldman Sachs, have forecast the rally will continue.
After the Federal Reserve cut borrowing costs earlier this month, mixed signals have been issued regarding the next move. Fed Chief Banking Supervision Officer Michelle Bowman said Thursday that inflation was close enough to its target to warrant further rate cuts amid a weakening labor market.
Gold was relatively steady at $3,749.04 per ounce at 9:03 a.m. Singapore time, up 43% since the beginning of the year. https://www.mawazin.net/Details.aspx?jimare=267405
Economic Council: Iraq Investment Forum to showcase ready-made investment opportunities
Buratha News Agency1912025-09-26 The Iraqi Economic Council confirmed, on Friday, that more than 150 investment opportunities in various sectors will be presented during the Iraq Investment Forum, which will be held in the capital, Baghdad, on September 27 and 28, 2025.
The head of the council, Ibrahim Al-Baghdadi, told the official agency, “The forum will constitute an important event to showcase ready-made investment opportunities, as Iraq is considered a fertile ground for investment in many fields, as it enjoys an important geographical location.
It is considered an important link for international transportation routes and a promising virgin land rich in opportunities that represent investment projects with sustainable development dimensions, due to its natural resources and qualified human resources.”
He added that "the conference is an effective platform for showcasing investment opportunities for various economic sectors provided by the National Investment Commission, a number of ministries and investment bodies in the governorates, and the private sector."
He explained that "the forum's agenda will include, over two days, key themes and dialogue sessions to highlight supportive measures and decisions that enhance the investment environment and promising projects, and the role that Iraq plays regionally and globally in the energy, industry, agriculture, trade, and transportation sectors, in support of the government's strategic vision in the process of advancing the country through sustainable development projects."
He also explained that "the forum will address a number of important issues, including the Strategic Development Road project and new residential city projects that will provide more than 150,000 housing units, in addition to more than 150 investment opportunities in various economic sectors."
He explained that "the sectors that will showcase their investment opportunities include oil and gas, renewable energy, transportation, heavy and medium industries, housing and real estate development, agriculture and livestock production, health and pharmaceutical industries, food industries, tourism and hotels, education and scientific research, in addition to communications and information technology, and industries in free zones."
He also noted that "the forum will provide ample opportunities for companies and businessmen to meet with global and regional banks and financing funds, and to hold direct bilateral meetings with ministries and investment bodies in Iraq, in addition to presenting economic and investment meetings of regional and international interest." https://burathanews.com/arabic/economic/465681
Tomorrow... Implementation Of The Agreement To Export Oil From The Kurdistan Region Of Iraq's Fields Begins.
Economy | 06:49 - 09/26/2025 Mawazin News – Kurdistan Director General of the State Oil Marketing Company (SOMO) Ali Nizar Al-Shatri confirmed on Friday that the implementation of the agreement to export oil from the Kurdistan Region’s fields will begin tomorrow, Saturday, noting that the proceeds will go to the federal budget.
Al-Shatri said in a press conference, “We confirm what the Iraqi government announced regarding reaching a comprehensive, professional and fair agreement with the Ministry of Natural Resources in the Kurdistan Region and with the companies operating and producing in the region’s fields, for the purpose of delivering the quantities of crude oil produced in those fields to the State Oil Marketing Company (SOMO), as well as pumping it to the Turkish port of Ceyhan; for the purpose of starting the regular and legal export process through that port in accordance with the global procedures, contracts and principles adopted by the State Oil Marketing Company.”
He added, "The agreement stipulated that some quantities, around fifty thousand barrels per day, would be allocated for local consumption and managed by the Ministry of Natural Resources in the Kurdistan Region," noting that "this long-awaited agreement came to implement the three-year federal budget law for the years 2023-2024-2025, and the latest amendment to the budget law for the year 2025, on the basis of which negotiations began that lasted for more than thirty months, in a professional, positive and national atmosphere.
The goal was to regain control and regulate the export of oil produced from the Kurdistan Region, primarily through the north, so that it could return to global markets in a sound and globally approved manner, with solid companies that were eagerly awaiting this agreement."
He explained that "the agreement comes at a time when the European continent is in dire need of this type of oil as an alternative to the shortage in supplies from Russian oil and other sources," noting that "this oil will be available at the Ceyhan oil port.
As is well known, this port is located on the Mediterranean Sea, which places it at the heart of the European market, with the possibility of supplying the North and South American markets from this port with ease, professionalism, and transparency."
He explained, "This agreement would not have been possible without the high professionalism, great support, insistence and patience in constructive negotiations, which took into consideration, first and foremost, Iraq's interests as a single, unified country from north to south, and its oil revenues, which are the primary source of support for the federal budget according to the laws, especially the latest budget law."
He explained, "The agreement included direct negotiations with the producing companies in the region, and they were reassured and a strict mechanism was reached to guarantee their entitlements according to the budget law.
He stated, "The agreement stipulates that compensation will be in the amount of $16 per barrel delivered to the Oil Marketing Company, and the amount will be deposited according to the global price in Iraq's account at the US Federal Bank in the full name of the Central Bank of Iraq.
" He indicated, "Compensation to the Ministry of Natural Resources in the Kurdistan Region will be in the amount of $16 per barrel, and thus compensation will be in kind through barrels of oil produced from the same fields in the Kurdistan Region, according to the compensation and payment-in-kind mechanism in place globally and applied in the south with contracting companies."
He added, "The produced barrels of oil are delivered to commercial companies that market them globally, and the amounts are deposited into the regional government's account to compensate the producing companies for this amount."
He pointed out that, "At this stage, a specialized international consulting firm will be contracted by the federal Ministry of Oil to re-evaluate production and transportation costs in the region's producing fields to determine whether these costs are higher or lower than $16 per barrel, which will be considered an advance.
Therefore, compensation will be based on the consultant's decision retroactively from the date the oil was received by the Oil Marketing Company, which is expected to begin on the morning of September 27, 2025, at 6:00 a.m.
He continued, "This agreement will not be temporary, but will establish long-term understandings and will serve as a final end to all the disputes we witnessed in the previous stage.
It will also be a declaration of the seriousness of the federal government, the Kurdistan Regional Government, and the companies operating in Iraq to commit to implementing it and ending all manifestations of disagreement, suspicion of smuggling, or production outside of government control."
He concluded by pointing out that "the proceeds from this oil will go to the country's federal budget and will enable the Iraqi government to fulfill its financial obligations, duly approved and approved, for this year and the coming years." https://www.mawazin.net/Details.aspx?jimare=267449
Evening Updates: Oil Surpasses $70, Its Highest Level Since August
Economy | 07:45 - 09/26/2025 Mawazine News - Follow-up: Trading data on the London ICE Futures Exchange revealed on Friday that Brent crude oil futures for December 2025 delivery exceeded $70 per barrel for the first time since early August.
According to the exchange data, at 17:03 Moscow time, Brent prices rose by 0.59% to $70.05 per barrel.
By 17:18 Moscow time, Brent crude futures accelerated their rise to $70.34 per barrel, an increase of 1.01%.
In contrast, West Texas Intermediate (WTI) crude futures for November delivery rose by 1.29% to $66.03 per barrel.
Oil prices continued their gains in Asian trading on Friday morning, maintaining their highest levels in seven weeks and heading towards a strong weekly rise, amid concerns about Russian supply disruptions and a surprise drop in US crude oil inventories, which tightened market expectations.
Brent crude futures for November delivery rose 0.3% to $69.6 a barrel, while West Texas Intermediate crude futures rose 0.4% to $65.2 a barrel this morning.
Both benchmarks remain at their highest levels since early August and are set to jump more than 4% this week. Moscow said this week it would impose partial restrictions on diesel exports and extend a gasoline export ban until the end of 2025, in an effort to protect domestic fuel supplies. https://www.mawazin.net/Details.aspx?jimare=267453
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