Iraq Economic News and Points to Ponder Thursday Afternoon 4-24-25
The Iraqi Dinar Regains Its Strength Against The Dollar
Thursday, April 24, 2025, 8:20 PM | Economic Number of readings: 64
Baghdad / NINA / The exchange rate of the dollar against the dinar decreased, Thursday evening, in Baghdad and the Kurdistan Region.
The exchange rate in the Al-Kifah and Al-Harithiya stock exchanges in Baghdad reached 144,600 dinars for every 100 dollars. This morning, the dollar recorded 145,200 dinars.
In the local markets in Baghdad, the selling price reached 145,500 dinars for every 100 dollars, and the purchase price was 143,500 dinars.
In Erbil, the dollar price also decreased, with the selling price reaching 145,200 dinars for every 100 dollars, and the purchase price reaching 145,100 dinars for every 100 dollars. https://ninanews.com/Website/News/Details?key=1199962
The Ministry Of Finance Announces The Launch Of The Third Issue Of National Bonds For Public Subscription, With A Value Exceeding 2 Trillion Dinars.
Ministry of Finance. "Internet" Money and Business Economy News – Baghdad The Ministry of Finance announced on Thursday the launch of the third issue of national bonds for public subscription, valued at more than 2 trillion dinars.
The Ministry's media office stated in a statement, seen by Al-Eqtisad News, that "the Ministry of Finance, represented by the Public Debt Department and in cooperation with the Central Bank of Iraq, announces the offering of the third issue of national bonds for public subscription with a total value of (2,262,942,000,000) trillion Iraqi dinars."
She explained that the categories of bonds offered are:
* 500,000 Iraqi dinar bond
8% annual return paid every six months for two years.
* 1,000,000 Iraqi dinar bond
10% annual return paid every six months for four years.
The subscription period starts on April 20, 2025 and ends on May 20, 2025.
She pointed out that "the subscription method:
Submit purchase requests at branches of banks authorized by the Central Bank of Iraq.
Attach the required identification documents.
Transfer the amount via RTGS on the subscription day.
A temporary receipt will be issued until the bond is prepared and delivered later," she said, calling on citizens, investors, and companies to "participate in this issue to benefit from fixed returns and a government guarantee." https://economy-news.net/content.php?id=54805
Iraq Stock Exchange: Trading Volume Exceeded 11 Billion Dinars During Five Trading Sessions In The Third Week Of This Month
Thursday, April 24, 2025, 15:57 | Economic Number of readings: 128 Baghdad / NINA / The Iraq Stock Exchange announced today that it traded shares worth more than 11 billion dinars during five trading sessions in the third week of April.
According to financial market indicators, the number of traded shares during this week amounted to more than 6 billion shares with a trading value of more than 11 billion dinars.
The ISX60 market trading index closed for the first session of the week at (1060.86) points, while the index closed at the end of the week at (1046.17) points, achieving a decrease of (1.40%) compared to its closing at the beginning of the session.
The ISX15 market trading index closed for the first session of the week at (1116.50) points, while the index closed at the end of the week at (1101.48) points, achieving a decrease of (1.36%) compared to its closing at the beginning of the session.
During the week, the market executed (4387) buy and sell contracts on the shares of companies listed on the market. /End https://ninanews.com/Website/News/Details?key=1199888
Government Activity And The Establishment Of Development Through The Pioneering Sector
Economy News – Baghdad Dr. Haitham Hamid Mutlaq Al-Mansour The recent economic climate has witnessed a clear evolution in the crystallization of the state's developmental role, in the movement of correction towards construction and reconstruction, especially in important structural aspects in the services sector and the employment sector, and focused steps to adjust the development path with the aim of revitalizing what was frozen in the previous government and completing stalled projects.
Perhaps the important question at this stage is about which development directions the current government should take in order to advance the correction and development process to its sustainable goal? And in which sector should it begin?
There are many development approaches addressed by theories of economic development that are feasible, but they may clash with the Iraqi economic reality, which suffers from a structural imbalance in production and demand. Therefore, the macroeconomic policy maker must start with what is possible and work to correct the sources of that possibility. In other words, development in the Iraqi economic reality must proceed from the following two axes:
First: Dealing scientifically with the economic reality and its distortions by entering into a thorny network of economic relationships that can lead to correcting the structural imbalance. These relationships are described as long-term and require a long period of time that includes the recovery of all agricultural, industrial, commercial, monetary, financial, and other sectors.
They assume a high degree of sector integration and high flexibility of the marginal substitution rate between the factors of production in its various sectors, in light of a complete reduction of the total cost functions. This requires significant financial, material, and human capabilities to diversify the structure of the economy and correct what has been distorted by decades of incorrect development policies and neglect, as this goal requires a long time to achieve or begin its path.
Second: Dealing realistically with the problematic data of the economic structure through planning for comprehensive development in the leading sector, namely the oil sector, starting from it to correct the distortion in the oil industry, through vertical concentration in the activities of the oil industry, including extractive, refining, and petrochemicals. This sector is the leading sector in enabling the development process through its forward and backward connections with other sectors and activities of the national economy.
The second approach is distinguished by its utmost importance in taking a strategic step to deepen the impact of the leading sector, as it enjoys material and financial returns that fall within the short-term limits, which often express the effectiveness of the overall policy in the macroeconomics.
The proposed approach of effective management of oil rents aims to achieve the correct combination of industrial interconnections between the rentier sector and other sectors to eliminate the displacement effect of rentier activity on other economic sectors, and to enhance the economic role of these sectors by linking them to the aforementioned sector, given its impact in directing government spending towards investment in infrastructure, social, health, and education systems necessary for the development process.
The experiences of rentier states similar to the Iraqi economy indicate that they have adopted a development approach in which annual budget items must be organically linked to the financial allocations of the general budget over the short, medium, and long terms. This is in addition to establishing a sovereign fund to invest oil surpluses sustainably in productive projects that generate material and social returns.
Now that the state has regained its ability to manage its resources and entered into many strategic projects with multiple economic links, it is possible to establish a governmental development axis capable of benefiting from the sustainable financial management mechanisms of the leading sector through a development approach that can be followed to achieve real results: It is represented by launching development from the leading sector that has the absolute advantage in contributing to the gross domestic product,
as it is likely that development will extend through this sector vertically and horizontally to and from the rest of its parts, and with the various sectors contributing to the chain of exchange of outputs and inputs, and focusing development activity on many sectors with organic horizontal interconnections that are likely to be of great importance to the development process in order to direct financing and investment activity towards its optimal function.
Therefore, I see the possibility of the government taking this development direction by planning for the oil sector and developing it vertically through planning for related internal activities such as the transformational industries in many economic sectors such as the construction and building sector and the electricity services sector, which are related to domestic consumer demand and would reduce the volume of imports.
On the one hand, on the other hand, the government must draw up a development plan to attract activities from weak sectors to achieve consistency in sectoral growth to raise their contribution to the GDP.
To enhance the proposed approach, a protective trade policy must be adopted that works to develop domestic demand for many industries branching off from the leading sector with organic links, and raise the levels of the GDP. https://economy-news.net/content.php?id=54790
Rashid Bank Disburses Interest On National Bonds To Beneficiaries
Buratha News Agency1492025-04-24 Rashid Bank announced today, Thursday, the payment of semi-annual interest on national government bonds to their beneficiaries. This is part of its full commitment to the specified timetable and to enhance investor and citizen confidence in the Iraqi financial and banking system.
The bank's media outlet stated in a statement that this step comes within the framework of its ongoing support for the Ministry of Finance's efforts to stimulate the local financial market and encourage citizens to invest in government debt instruments with attractive returns and limited risks.
The bank also invited citizens interested in investing in government bonds to visit its branches across Baghdad and the governorates to take advantage of the opportunities that provide a steady and secure income.
He pointed out that the interest payment process was carried out according to approved mechanisms and in line with the instructions issued by the Central Bank of Iraq.
https://burathanews.com/arabic/economic/459199
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