Iraq Economic News and Points To Ponder Monday Evening 3-16-26
Iraq Excluded From 2026 Index Of Economic Freedom
2026-03-16 Shafaq News- Baghdad Iraq did not appear in the 2026 Index of Economic Freedom due to insufficient reliable economic data and weak transparency standards, the Heritage Foundation said on Monday.
The foundation placed Iraq among unranked countries for the third consecutive year, alongside Afghanistan, Libya, Somalia, Syria, Yemen, Liechtenstein, and Ukraine. The index covers around 176 countries and evaluates economic freedom across four main pillars: rule of law, government size, regulatory efficiency, and open markets. It measures 12 sub-indicators, assigning scores between zero and 100 to determine each country’s level of economic freedom.
According to the report, Singapore ranked first globally with 84.4 points, followed by Switzerland with 83.7 and Ireland with 83.3, benefiting from open market environments and strong property rights protections. Lebanon and Iran ranked among the lowest globally, scoring 43.1 and 41.8 points, respectively.
Across the Arab region, the United Arab Emirates topped the ranking with 71.9 points, followed by Qatar with 70.2 and Oman with 68.5.
Economic expert Mohammed Al-Hassani told Shafaq News that Iraq’s absence from the index mainly reflects weak government transparency and the lack of accurate data needed to measure indicators such as investment, trade, and business freedom.
He added that excluding Iraq from the ranking reduces foreign investors’ ability to evaluate the country’s business environment and deprives policymakers of an international benchmark that could guide economic reforms and improve the investment climate. https://www.shafaq.com/en/Economy/Iraq-excluded-from-2026-Index-of-Economic-Freedom
USD/IQD Exchange Rates Fall In Baghdad, Erbil
2026-03-16 Shafaq News- Baghdad/ Erbil The US dollar closed Monday’s trading lower in Iraq, hovering around 154,500 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya central exchanges at 154,650 dinars per 100 dollars, down from 155,000 dinars recorded in the morning.
In the Iraqi capital Baghdad, exchange shops sold the dollar at 155,000 dinars per 100 dollars and bought it at 154,000 dinars, while in Erbil, selling prices stood at 154,300 dinars and buying prices at 154,200 dinars.
https://www.shafaq.com/en/Economy/USD-IQD-exchange-rates-fall-in-Baghdad-Erbil
Pavel Talabani: The Regional Government Is A Coalition Government And It Is Not Permissible To Make Decisions That Affect The People's Livelihood Unilaterally.
{Politics: Al-Furat News} The head of the Patriotic Union of Kurdistan Party, Bafel Talabani, confirmed that the Kurdistan Regional Government is a coalition government, stressing the need to avoid making unilateral decisions that affect the livelihood and fate of citizens.
Pavel Talabani said in a press statement: "At this time when our region is facing extreme tension and instability, decisions that affect the fate and lives of our people should not be made unilaterally."
He added that "the Kurdistan Regional Government is a broad-based government, and all parties must act accordingly," noting that "the current time is not a time for tensions, conflicts, or scoring political points."
Pavel Talabani continued, "Our people deserve to enjoy a stable life and to receive their salaries on time, and the current time is a time for unity to confront the great dangers that we may face."
"We support constructive dialogue with our partners in Baghdad and Erbil to protect the stability of the Kurdistan Region and Iraq, and at the same time, we ensure that the well-being of our citizens is never jeopardized," he affirmed. LINK LINK
The Minister Of Oil Announces Iraq's Production Volume According To Its OPEC Quota.
{Economic: Al-Furat News} Oil Minister Hayyan Abdul Ghani confirmed that Iraq's crude oil production is about 4.4 million barrels per day, according to the quota set by OPEC.
Abdul Ghani said in a press statement that "the military operations in the Gulf and the closure of the Strait of Hormuz led to the cessation of Iraqi oil exports days after the outbreak of war in the region."
He explained that current production is between 1.5 and 1.6 million barrels per day to cover the needs of refineries and power plants, noting that oil and gas products currently cover local needs despite the halt in exports and the impact on oil revenues.
The oil minister revealed that there are efforts to start exporting quantities of oil through the Turkish port of Ceyhan, in addition to tenders to export oil through the port of Banias in Syria and the Aqaba pipeline, stressing that the Iraqi-Turkish pipeline to transport Kirkuk oil with a capacity of 200,000 to 250,000 barrels per day is currently undergoing final inspection and qualification. LINK
U.S. Oil Companies Warn Trump Administration Of Worsening Energy Crisis
American oil companies have warned the administration of President Donald Trump that the suspension of supplies through the Strait of Hormuz could exacerbate the energy crisis.
The Wall Street Journal reported that U.S. oil firms cautioned the Trump administration that a halt in supplies via the Strait of Hormuz would worsen the energy situation. It added that the oil sector is warning the administration that the energy crisis is likely to intensify https://ina.iq/en/economy/46657-us-oil-companies-warn-trump-administration-of-worsening-energy-crisis.html
Iraqi Minister Of Oil: Tenders To Export Oil Via Baniyas, Syria And Aqaba, Jordan Ports
INA – BAGHDAD The Iraqi Oil Minister Hayyan Abdul Ghani announced on Monday the issuance of tenders for oil exports via the Syrian port of Banias and the Jordanian port of Aqaba.
“Exports have stopped, and Iraq relies primarily on revenues from crude oil exports,” Abdul Ghani said in a statement followed by the Iraqi News Agency - INA.
He explained that “the Ministry of Oil is making significant efforts to begin exporting quantities of crude oil through the Ceyhan port.”
“We have issued tenders for crude oil exports through the Banias port in Syria and the Aqaba port in Jordan. Contracts for exporting crude oil through these ports will be awarded within the next two days,” he underscored.Abdul Ghani confirmed that “tankers will be used to transport the crude oil due to the unavailability of pipelines for the Iraqi-Syrian or Aqaba pipelines.”