Iraq Economic News and Points to Ponder Sunday Afternoon 2-23-25
Foreign Remittances Constitute More Than 93% Of The Central Bank’s Sales.
Time: 2025/02/23 Reading: 960 times {Economic: Al Furat News} Foreign remittances, today, Sunday, in the sales of the Central Bank of Iraq, reached more than 93% in the hard currency auction.
The bank sold in its auction today 293 million, 340 thousand and 631 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.
Most of the dollar sales went to strengthen the balances abroad in the form of transfers and credits, which amounted to 275 million, 440 thousand and 631 dollars, at a rate of 93.82%, compared to cash withdrawals amounting to 17 million, 900 thousand dollars.
The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 5 banks, and the total number of exchange companies participating in the auction was 23 companies. LINK
Oil: We Will Receive 185 Thousand Barrels Per Day From The Kurdistan Region As A First Stage
Iraqi oil refinery Energy Economy News – Baghdad The Undersecretary of the Ministry of Oil for Extraction Affairs, Basem Mohammed Khudair, confirmed today, Sunday, that the ministry will receive about 185 thousand barrels per day from the Kurdistan Region as a first stage after resuming oil exports through the Turkish port of Ceyhan, while he indicated that the quantity will gradually increase to 400 thousand barrels per day.
"The suspension of exports from the Kurdistan Region during the past period caused a problem for the oil fields in the region, and a period of rehabilitation is needed to restore their production capacity, with the aim of reaching the export of 400,000 barrels per day, which is the minimum quantities stipulated in the budget," Khadir said in a televised statement followed by "Al-Eqtisad News."
He added that "the quantity currently available for export in the region is 300,000 barrels per day, part of which is allocated for internal use, while the remaining 185,000 barrels will be allocated for export."
He pointed out that "the past period witnessed a visit by a delegation from the Ministry of Oil to the region, and it was agreed to form joint committees to follow up on the mechanisms for resuming oil exports," explaining, "We were informed by the region of its readiness to start the export process."
He continued, saying, "The technical teams of the North Oil Company and representatives of the Kurdistan Region are working to inspect the oil export pipelines and ensure their suitability and readiness to resume pumping oil through them."
Khadir confirmed that "the Ministry of Oil has contacted the Turkish side to inquire about the readiness of the pipeline designated for export via the port of Ceyhan, and we are awaiting an answer within the next 24 hours."
He also stated that "the ministry is keen on the continuity of export operations via the port of Ceyhan as part of a strategic vision for the relationship between Iraq and Turkey, and there is continuous communication with the region and the Turkish side to ensure the continuation of cooperation and export." https://economy-news.net/content.php?id=52947
Al-Yasiri: The Prime Minister Formed Specialized Teams To Evaluate The Performance Of Ministries In The Digital Transformation Process
Minister of Communications Hiyam Al-Yasiri Money and business Economy News - Baghdad
Minister of Communications Hiyam Al-Yasiri confirmed, on Sunday, that Iraqi ministries are racing against time to complete digital transformation operations and keep pace with developments in this field, noting that Prime Minister Mohammed Shia Al-Sudani has formed specialized teams to evaluate the performance of ministries in achieving this transformation.
Al-Yasiri said, in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", during her participation in the Digital Cooperation and Development Forum in the Jordanian capital, Amman:
"Prime Minister Mohammed Shia Al-Sudani led the Supreme Committee for Digital Transformation, developed important strategies, and established the National Center for Digital Transformation, and all ministries in Iraq are competing today to complete digital transformation operations."
She pointed out that "the Prime Minister directed the formation of specialized teams to evaluate the performance of ministries and the level they have reached in digital transformation operations."
She explained that "the Ministry of Communications, as a specialized ministry, aspires to be a model for the rest of the ministries, and has made great strides in this field, and possesses many digital applications and systems that were created by Iraqi hands and minds."
She stated that "the aim of holding the Digital Cooperation Forum is to approve the Arab Digital Agenda that was discussed last year with the participation of a number of international organizations, such as the International Federation and the United Nations, in addition to the Arab League, and today the ministerial declaration on the Arab Digital Agenda was approved."
Al-Yasiri added, "The meeting also aims to review the prospects of rapid digital development and keep pace with it, as it has become a necessity for Arab countries in order to keep up with global development in this field."
She stated that "keeping pace with development requires establishing a digital infrastructure to develop cybersecurity, eradicate digital illiteracy, and benefit from the talents and capabilities of the Arab people in general and the Iraqi people in particular."
She also indicated that "digital transformation has become an important goal in order to enhance the digital economy, considering that the digital economy today is one of the most important economies that the world is looking at, especially in oil countries that must adopt a digital economy that is an alternative to the oil rentier economy and is a real guarantee for them."
Al-Yasiri also pointed out that “artificial intelligence is still a challenge facing all countries of the world, in order to preserve the ethics of artificial intelligence on the one hand, and benefit from innovation and great scientific progress in this field.” https://economy-news.net/content.php?id=52945
Slight Decrease In Dollar Prices In Baghdad
Stock Exchange Economy News – Baghdad The US dollar exchange rate fell slightly, Sunday morning, in Baghdad markets.
The dollar prices witnessed a decrease in the Al-Kifah and Al-Harithiya stock exchanges, recording 149,900 Iraqi dinars for every 100 dollars, while it recorded 149,950 Iraqi dinars for every 100 dollars yesterday morning, Saturday.
The selling prices in the exchange shops in the local markets in Baghdad recorded stability, as the selling price reached 151,000 Iraqi dinars for 100 dollars, while the purchase price reached 149,000 dinars for 100 dollars. https://economy-news.net/content.php?id=52929
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