Iraq Economic News and Points To Ponder Sunday Afternoon 11-16-25
Foreign reserves are a pillar of monetary stability
Economic 16/11/2025 Baghdad: Al-Sabah Economic researcher Dr. Nabil Rahim Al-Abadi explained that foreign currency reserves have reached approximately $100 billion,which covers the issued local currency amounting to about 98.4 trillion dinars, registering a decrease of 3.8% compared to the same period last year.
The period from 2024.
Al-Abadi added in an interview with Al-Sabah that the decline in the value of the local currency contributed to a decrease in the inflation rate to 0.8%, a decrease of 76% compared to 2024, which had a significant impact on maintaining the general price level.
He added that foreign reserves at their current rate are sufficient to cover the equivalent of 18 months of imports, in addition to the fact that the precautionary reserve of gold reached about 167 tons, which ranks fourth in the Arab world and thirtyth globally according to the World Gold Council, noting that it constitutes an important part of Iraq’s foreign reserves, as it recorded a large growth rate of 55% until the first half of 2025, as its value reached about 22.8 trillion dinars compared to its value of 14.7 trillion dinars in the second half of 2024, and that the safe investments of the reserves contributed greatly to the growth of investment portfolios, accompanied by good growth rates in returns to investment portfolios.
He stressed that the growth rates achieved in foreign reserveswere consistent with the Central Bank’s plan to enhance returns and build capacity in the field of self-management of reserves, which enabled the establishment of international banking relationships and the entry into agreements and memoranda of understanding with classified global banks, reputable financial institutions, international financing and consulting organizations, the Arab Monetary Fund, and international institutions concerned with investment management.
It also contributed to helping banksbuild international banking relationships with correspondent banksin accordance with the Central Bank’s plan to regulate foreign trade financing and implement the comprehensive banking reform program. https://alsabaah.iq/123565-.html
Government Meeting To Discuss Increasing Oil Exports And Limiting Marketing To "SOMO"
Time: 16/11/2025 16:14:31 Reading: 120 times {Local: Al-Furat News} Prime Minister Mohammed Shia Al-Sudani chaired a meeting on Sunday dedicated to following up on the financial dues for energy projects (electricity and oil), in the presence of the Ministers of Finance, Oil and Electricity and a number of advisors and executive officials in the ministries.
The Prime Minister’s Media Office stated in a statement, a copy of which was received by Al-Furat News, that: “During the meeting, ways to maximize the revenues of the public treasury were discussed by increasing the export capacity of oil products (diesel, naphtha, black oil, condensates) and other products after achieving self-sufficiency.”
He added, "The meeting also witnessed a discussion on establishing a mechanism for the flow of revenues, and restricting the export of oil products through the State Oil Marketing Company (SOMO)."
Regarding the electricity sector, Al-Sudani directed the Ministry of Electricity to "study the economic models for investment projects".
Al-Sudani stressed "the need to proceed with economic and financial reform plans, especially with regard to utilizing oil wealth and raising the rate of crude oil refining according to the targeted plans to produce more high-quality and valuable oil derivatives." LINK
The Ministry Of Finance Reveals The Exchange Of Funds Between Baghdad And Erbil: 7.2 Trillion Dinars Compared To 679 Billion During Eight Months
Money and Business Economy News – Baghdad The Public Spending Report for August 2025 issued by the Ministry of Finance revealed the value of funds transferred and received between the federal government and the Kurdistan Region during the first eight months of the year.
According to the report, the Kurdistan Region handed over only 679.3 billion dinars to the federal treasury.
The report indicated that the federal government transferred 7.2 trillion dinars to the region during the same period, including salaries, operating expenses and transfers stipulated in financial agreements.
https://economy-news.net/content.php?id=62338
Iraqi Oil Exports To America Decline
Energy Economy News – Baghdad The U.S. Energy Information Administration announced on Sunday that Iraq's oil exports to the United States declined last week.
The administration said in a statistic seen by “Al-Eqtisad News” that “the average US imports of crude oil during the past week from seven major countries amounted to an average of 4.670 million barrels per day, a decrease of 219 thousand barrels per day from the previous week, which amounted to an average of 4.889 million barrels per day.”
She added that "Iraq's oil exports to America averaged 149,000 barrels, down by 46,000 barrels per day from the previous week's average of 195,000 barrels per day."
The administration noted that "most of America's oil revenues last week came from Canada at a rate of 3.557 million barrels per day, followed by Saudi Arabia at a rate of 349,000 barrels per day, Mexico at an average of 321,000 barrels, and Nigeria at a rate of 136,000 barrels per day."
According to the table, "US crude oil imports from Ecuador averaged 98,000 barrels per day, and from Venezuela averaged 60,000 barrels per day, while no quantity was imported from Libya, Brazil or Colombia during the past week."
The United States imports most of its crude oil and derivatives from these ten major countries, and America's daily consumption of oil is about 20 million barrels, making it the world's largest consumer of this commodity.
https://economy-news.net/content.php?id=62329
Dollar Exchange Rates Against The Dinar In The Evening Market
Stock Exchange The exchange rate of the US dollar against the Iraqi dinar rose slightly in the markets of Baghdad and Erbil on Sunday evening, as the stock exchange closed.
Baghdad, selling price 142,500 dinars per 100 US dollars, and the buying price was 140,500 dinars per 100 US dollars.
Erbil Selling price: 141,000 dinars per 100 dollars Buying price: 140,850 dinars per 100 dollars.
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