Iraq Economic News And Points To Ponder Thursday Morning 5-14-26
Ahead Of The Vote, Al-Sari Reveals His Program: Sovereign Finances First And A New Era In Salary Distribution.
Money and Business Economy News – Baghdad On Thursday, the nominee for the Ministry of Finance, Faleh Al-Sari, revealed his top priorities and ministerial program in the event of gaining confidence, just hours before the vote of confidence session in the House of Representatives.
Al-Sari said, "The Ministry of Finance will be the number one sovereign ministry in Iraq," adding that he assures all the people of Iraq, especially employees, contract workers and farmers, that their rights will be fully guaranteed.
He stressed that “the Ministry of Finance will be radically different from what it was in the past, and that ministries will no longer operate in isolation from the Ministry of Finance,” ruling out “the possibility of ministries being separate islands that are not connected to each other.”
He continued: "We will not accept that the Ministry of Finance be merely an office for distributing salaries, but rather it will be a fundamental economic ministry that leads all financial and commercial activities in the country."
Regarding digital transformation, Al-Sari explained that "the issue of taxes and customs has made great strides in the field of automation," indicating that "digital transformation and reducing reliance on cash is a key priority for the ministry."
Regarding the ministry's relationship with the House of Representatives, Al-Sari indicated that "based on his parliamentary experience over the past five sessions, he is fully aware of what the representatives are suffering from," announcing the allocation of a special wing for them within the ministry, with the formation of a working team that will receive the representatives and quickly fulfill their requests.
He pointed out that "my approach with the MPs will be clear and we will meet their demands, provided that they understand the financial and economic situation and the crisis that the country is going through," calling on the House of Representatives, especially the Finance Committee, to cooperate in legislating and amending reform laws, considering the parliament as "my main kitchen" for achieving financial and economic reforms. https://www.economy-news.net/content.php?id=69067
Loaded With Oil And Gas, Nine Ships Have Crossed The Strait Of Hormuz Since Sunday, But Are Under US Blockade.
energy Economy News - Follow-up Bloomberg reported on Thursday that nine oil and gas tankers have crossed the Strait of Hormuz since last Sunday.
The agency added, citing shipping data, that some of the nine ships remain within the US blockade line in the Strait of Hormuz, amid continuing military and trade tensions in the region.
The agency reported last Tuesday that US forces imposing a naval blockade on Iran prevented a Greek ship carrying about two million barrels of Iraqi oil from continuing its journey to Vietnam for "unknown" reasons, while the Vietnamese government appealed to the United States to allow the oil shipment to proceed.
The Strait of Hormuz region has witnessed escalating tensions since last March, as the vital waterway has turned into a direct military and maritime confrontation between the United States and Iran. https://www.economy-news.net/content.php?id=69065
Iraq Topped The List Of Exports To The Amman Chamber Of Commerce With 188 Million Dinars During 2026
Money and Business Economy News – Baghdad By 22.3 percent, compared to the same period last year, Iraq topped the list of importing countries with a value of 188 million dinars.
According to the Chamber's statistical data, the value of exports issued by the Amman Chamber of Commerce through certificates of origin during the first third of this year amounted to about 492 million dinars, compared to 401 million dinars for the same period in 2025.
The data showed that the number of certificates of origin issued by the chamber during the first third of this year amounted to 10,005 certificates, compared to 10,174 certificates during the same period last year, a decrease of 1.7 percent.
According to the statistics, the certificates of origin were distributed among several countries, with Syria leading with 1903 certificates, followed by Saudi Arabia with 1598 certificates, then Iraq with 1052 certificates, then Egypt with 247 certificates, and Switzerland with 8 certificates.
In terms of value, Iraq came in first place with exports valued at 188 million dinars, followed by Egypt with 29 million dinars, then Switzerland with about 26 million dinars, Syria with 24 million dinars, and Saudi Arabia with about 23 million dinars.
Exports from the Amman Chamber of Commerce during the first third of this year included foreign products ("goods of foreign origin") valued at 201 million dinars, followed by industrial products valued at 69 million dinars.
https://www.economy-news.net/content.php?id=69066
Turkish Airlines Resumes Flights To Iraq
Money and Business Economy News – Baghdad The Ministry of Transport announced that the coming months will witness the restoration of full operational capacity at Baghdad International Airport, after a period of suspension and disruption to air traffic as a result of the security developments in the region, revealing that Turkish Airlines will resume its flights to Iraq on Thursday.
The director of the ministry's media office, Maitham Al-Safi, told the official newspaper that air traffic at Baghdad International Airport is witnessing a remarkable improvement and a gradual return to normal, with the resumption of a large number of regular flights by Arab and foreign airlines, coinciding with the continued airlift of pilgrims to the holy lands.
He added that Thursday will see the return of Turkish airlines to operate flights to Iraq, after a hiatus of more than two months, in addition to other countries and companies that will also resume their flights next month, most notably the Sultanate of Oman.
Al-Safi explained that the airport is currently experiencing regularity in daily flight schedules, with a noticeable increase in the number of arriving and departing passengers, stressing that the ministry is seeking to restore the airport’s full operational capacity in the coming months.
He noted that the ministry is continuing its contacts with international airlines to resume all suspended flights during the next phase, in conjunction with plans to develop services at Baghdad International Airport, including travel procedures, logistics and technical services. https://www.economy-news.net/content.php?id=69060
Bloomberg: A giant Japanese oil tanker secretly and rarely crosses the Strait of Hormuz
energy Economy News - Follow-up Bloomberg reported that the Japanese supertanker Ineos Endeavour secretly and rarely crossed the Strait of Hormuz, according to ship-tracking website data.
The agency reported that the tanker appeared in the Gulf of Oman after its last signal was inside the Gulf north of Abu Dhabi, suggesting that it crossed the strait without revealing its movements through the usual tracking systems.
According to the data, the tanker resumed broadcasting its location north of the Omani capital, Muscat, late Wednesday evening, heading east towards the Arabian Sea, after its broadcast had been interrupted since last Monday.
Bloomberg noted that the tanker entered the Gulf in late February to load crude oil from the UAE's Das Island and Kuwait's Al-Ahmadi port, while draft readings show it is almost full of cargo.
She added that the tanker had initially identified the Japanese port of Kerry as its destination, before later indicating that it was “awaiting orders,” suggesting that a final port of call has not yet been determined.
The agency indicated that this tanker is the second giant oil tanker owned by a Japanese company to cross the Strait of Hormuz since the outbreak of the war in late February. https://www.economy-news.net/content.php?id=69061
Prices Of Crops, Lentils, And Sour Meat Rose In Iraq During 2025
Money and Business Economy News – Baghdad Data released by the Iraqi Directorate of Agricultural Statistics on Thursday showed that the average prices of several agricultural products rose during 2025 compared to 2024, due to the effects of local inflation, changes in the dollar exchange rate, and openness to imports from foreign markets.
According to the data, the prices of field crops have increased, with wheat recording an increase of 4.9% to reach 510 dinars per kilogram, rice by 4.4% to 940 dinars, and barley by 3.8% to 436 dinars, while okra prices increased by 3.6% and tomatoes by 1.9%.
In the fruit sector, the price of lemons rose by 3% to reach 3034 dinars per kilogram, while pomegranates recorded an increase of 0.8% and peaches by 0.7%, in contrast to a decrease in the prices of some varieties, including apples and olives.
Date prices also recorded an increase, with Barhi dates rising by 3% to reach 2032 dinars per kilogram, and Maktoom by 3.2% to 1755 dinars.
In the meat sector, red meat prices rose, with lamb prices increasing by 3.2% and beef by 3.1%, while chicken prices fell by 7.2% to reach 2,900 dinars per kilogram.
The report indicated that the rise in prices is due to local inflation and the change in the dollar exchange rate, as well as the increase in imports from Arab and foreign markets, which was reflected in the price movement in Iraqi markets.