Iraq Economic News and Points To Ponder Tuesday Afternoon 10-13-26
Parliamentary Finance: The Proposal Of The Salary Scale Law Will Be Presented Soon To The House Of Representatives
Money and business Economy News — Baghdad The Parliamentary Finance Committee said on Tuesday that the proposal of the salary scale law will be presented soon to the House of Representatives. The head of the Parliamentary Finance Committee, MP Adi Awad, said in a statement to the official newspaper: "The proposal of the salary ladder law will be presented soon in the sessions of the House of Representatives, after studying with specialists in financial and economic affairs."
He added that "the proposal was submitted to the Federal Court to ensure that it is not challenged," expecting that "it will be put to the first reading in the coming sessions."
Awad explained that "the Finance Committee is ready to listen to the observations on the law after reading it, and adopt what it deems fair and compatible with the legal frameworks." He pointed out that "the proposal aims to enhance purchasing power and support the stability of the salaries of state employees, and includes the abolition of instructions that contradict its provisions."
For his part, MP Abdul Hamza Moneim Al-Khafaji said: "The demand to amend the salary scale comes within the supervisory and legislative roles of the House of Representatives," stressing "the importance of the law for the segment of employees with limited income, especially in light of the economic crises and high prices of goods and services."
He added that "employees in several grades, from ten to five, receive limited salaries ranging from 250 to 300 thousand dinars," noting that "the presence of employees with these salaries in more than seven ministries."
He warned that “the continuation of these conditions, in conjunction with the high cost of living, exacerbates the burdens on this segment, as well as the existence of a large disparity between the salaries of employees who occupy similar grades.”
Al-Khafaji called for "promoting the adoption of the law and addressing the legal articles that are said to be contrary to it, instead of taking this conflict as a pretext to disrupt it," stressing "the need to take measures leading to reducing disparities and achieving justice among state employees."
He pointed out that "the Prime Minister was addressed on the possibility of sending the draft law of the civil service and salaries or the proposal of the salary scale, in addition to requesting a statement of the measures taken by the Presidency of the Council of Ministers and the House of Representatives on this file. https://www.economy-news.net/content.php?id=74966
IMF Expects Iraq’s Economy To Contract By 16% In 2026 And Strong Growth In 2027
Money and business Economy News _ Follow-up The International Monetary Fund (IMF) predicted that Iraq’s real GDP will contract by 16% during 2026, before registering a growth of 19% in 2027, according to data from the World Economic Outlook report issued in October 2026, at a time when it is estimated that inflation will rise and the current account deficit will worsen during the current year.
According to the table on the economies of the Middle East and Central Asia in the report, which was seen by "Economy News", the Iraqi economy fell by 0.4% in 2025, while the Fund expected the inflation rate to reach 3.5% in 2026, compared to 0.3% in 2025, to decline to 3% in 2027.
On the current account, the IMF expected Iraq to record a deficit equivalent to 10.8% of GDP in 2026, compared to a deficit of 3.8% in 2025, before turning into a surplus equivalent to 2.2% of GDP in 2027.
These estimates put Iraq among the oil-exporting economies in the region, which the Fund expects to witness a contraction during 2026, as the table indicated that the economies of the oil-exporting countries combined contracted by 3.8%, before achieving a growth of 7.4% in 2027.
In contrast, the report predicted that the real GDP of Saudi Arabia will contract by 3.3%, the UAE by 3.9%, Qatar by 15.6% and Kuwait by 16.7% in 2026, with these economies recording growth in 2027.
Iraq’s figures reflect a sharp discrepancy between the 2026 and 2027 forecasts, with the economy moving from a major downturn to high growth, according to the IMF estimates, without necessarily implying improvement in living standards or household financial conditions at the same pace, as these indicators remain linked to other factors, including employment, income, inflation and fiscal performance.
The real GDP of Iraq is the total value of goods and services produced by the Iraqi economy within a year. https://www.economy-news.net/content.php?id=74965
Emir Of Qatar Announces $60 Billion Worth Of Investment Projects And Opportunities
Money and business The Emir of Qatar, Tamim bin Hamad Al-Thani, announced a package of projects and investment opportunities worth about 221 billion Qatari riyals, equivalent to $ 60.71 billion, over the next five years.
In his annual speech to the Shura Council, Tamim said that Qatar has been able to contain the repercussions of the regional crisis and reduce public spending without compromising basic services and development priorities.
He added that the Qatari economy recorded real growth of 2.9% during 2025, with inflation stabilizing at 0.5%, pointing to the continued expansion of the North Gas Field and progress in the Golden Pass project in the United States.
The Emir of Qatar stressed the importance of diversifying the economy, pointing out that the contribution of non-hydrocarbon sectors amounted to about 80% of real GDP, in addition to the development of more than 360 new digital services.
In the food security issue, he pointed out that Qatar has regionally topped the food systems resilience index for 2026, while continuing to support local agricultural production https://www.economy-news.net/content.php?id=74993
Minister Of Transport And Chairman Of The Dhi Qar Provincial Council Discuss The Completion Of Nasiriyah International Airport
Money and business Economy News – Baghdad Minister of Transport Wahab al-Hassani discussed on Tuesday with the President of the Dhi Qar Azza al-Nashi Provincial Council the completion of Nasiriyah International Airport and the paths of development.
A statement by the ministry, received by "Economy News", that "the Minister of Transport, Wahab al-Hassani, received the President of the Council of the province of Dhi Qar Azza al-Nashi and his accompanying delegation, and discussed with them the file of the completion of Nasiriyah International Airport and the paths of development in the province, in the framework of follow-up strategic projects for the transport sector and strengthen coordination with the local government."
He added that "the meeting dealt with the latest developments in the work in the Nasiriyah International Airport project, and the importance of completing its requirements to contribute to the development of air transport services in the province, and provide infrastructure that supports passenger traffic and economic activity, as well as enhancing the ability of Dhi Qar to attract investments."
He added that "the two sides discussed the path of development within the borders of the province, and the importance of coordinating efforts between the Ministry of Transport and the local government on the requirements of the project, in order to enhance the link between the provinces and support the movement of goods and trade exchange, in line with the developmental and economic objectives of the project." https://www.economy-news.net/content.php?id=74983
Chairman Of The Integrity Commission: We Received A Number Of Wanted In Corruption Cases From Egypt
Money and business Economy News – Baghdad The head of the Federal Integrity Commission, Mohammed Ali Al-Lami, on Tuesday, the importance of Arab cooperation within the framework of the Arab Convention to Combat Corruption in the field of preventing and preventing corruption and the recovery of funds and wanted.
During his meeting with the Ambassador of the Arab Republic of Egypt to Iraq, Ahmed Hussein Khafaji, Al-Lami referred to the brotherly relations and ties between the Iraqi and Egyptian peoples, and their role in intensifying cooperation between them, praising the partnerships in various political, economic and cultural fields with the brothers in the Arab Republic of Egypt, which reflect the extent of harmony and cooperation between the two brotherly countries.
He pointed out the importance of coordination between the Arab countries and the concerted efforts in addressing the scourge of corruption, especially in the areas of legal assistance, the recovery of the proceeds of corruption and the extradition of wanted persons, and the exchange of experience and expertise, praising the cooperation of brothers in the Republic of Egypt with the authorities in the Republic of Iraq, which led to the extradition of a number of wanted persons in corruption cases.
He called for academic partnerships in the specializations related to the prevention and combating of corruption, and the exchange of knowledge and twinning between the Iraqi and Egyptian anti-corruption academies within the framework of the memorandum of understanding between the Iraqi Integrity Commission and the Egyptian Administrative Control Authority; in order to increase the knowledge and experience of workers in the regulatory field and refine their skills, and focus the scientific effort to strengthen the practical aspect of the practical, and benefit from modern scientific methods in the face of corruption.
For his part, Mr. Ahmed Hussein Khafaji, the Egyptian ambassador to Iraq, expressed his happiness to strengthen ties with the people and government of the Republic of Iraq, especially with the supervisory bodies, which were embodied in the conclusion of the memorandum of understanding between Iraqi integrity and Egyptian administrative control, stressing support for the efforts of Iraqi integrity in the fight against corruption, and overcome the obstacles to the recovery of wanted persons, noting that the stability and security of Iraq represents the security and stability of Egypt https://www.economy-news.net/content.php?id=74981